Brazilian president Lula da Silva proposed the review of the current oil exploitation model and the creation of another company to manage the so called pre-salt oil fields which are believed to hold anywhere from 50 to 70 billion barrels of light crude.
Bolivian president Evo Morales has ordered the Army to protect oil and gas installations amid growing protests from gas producing provinces which are demanding the full return of oil taxes.
Under the banner of time is running out Argentine farm leaders gathered in a rally to call for action from President Cristina Fernandez de Kirchner administration or they will be forced to resume the protests that they staged for four months until mid-July and that forced the government to roll back higher grain export duties.
The Olympic Games have drawn to a close with a glittering ceremony inside Beijing's Bird's Nest Stadium. Spectacular fireworks kicked off the proceedings, while a beautifully choreographed drumming and dancing display recalled the opening ceremony.
The guessing is over: Madonna will perform in Santiago de Chile on Wednesday December 10th according to the Sticky & Sweet tour official site www.madonna.com. A devoted fan club presale of tickets will start on midnight Wednesday 27 until September 5. Regular tickets sale goes on Wednesday September 10.
Thousands marched on Saturday to back Ecuadorian President Rafael Correa who public opinion polls show is inching closer to winning a September 28 vote to pass a new constitution that would expand the Executive's authority.
Chile announced Friday a one billion US dollars tax-cutting package aimed at curbing inflation, which is running at 14 year highs, and boosting growth. Measures include temporary reduction of tax on fuel and tax cuts on checks and electronic transfers.