Stories for October 2009

Wednesday, October 28th 2009 - 02:43 UTC
Chilean salmon industry expects worst production ever in 2010

Trade association Salmon-Chile is predicting that next year will be Chile’s worst salmon production year in the industry’s history. Estimates show that approximately 300,000 to 350,000 tons of salmon will be produced in 2010 or roughly half the quantity produced in 2008 and 1,000 tons less than in 2009.
Wednesday, October 28th 2009 - 02:19 UTC
Brazil remains divided on Venezuela’s Mercosur incorporation

The president of the Brazilian Senate Jose Sarney reiterated Tuesday he does not support the incorporation of Venezuela to the South American trade block Mercosur, since “decisions from the government of that country represent a crumbling and deviation of democracy”.
Tuesday, October 27th 2009 - 12:25 UTC
Uruguayan ruling coalition retains majority in next Parliament

Uruguay’s ruling coalition obtained 47.49% of the vote in last Sunday’s general election according to the primary vote count from the country’s Electoral Court, thus confirming a run off for the presidential office at the end of November.
Tuesday, October 27th 2009 - 12:23 UTC
Brazil planning to cut taxes to stimulate domestic consumption

Brazil is considering extending stimulus tax cuts on home appliances even as the country’s economic recovery shows signs of gaining momentum. Tax cuts helped Brazilian auto industry sales to soar.
Tuesday, October 27th 2009 - 12:19 UTC
Uruguay’s flag carrier Pluna flies cargo between Santiago and Punta Arenas

Pluna, Uruguay’s flag carrier began this month commercial cargo flights between Santiago and Punta Arenas in the extreme south of Chile and has plans to incorporate passengers in the near future, reports La Prensa Austral.
Tuesday, October 27th 2009 - 09:18 UTC
Brazil Marfrig food company turns a profit in the third quarter

Brazilian food company Marfrig Alimentos, with strong interests in Uruguay and Argentina turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.
Tuesday, October 27th 2009 - 09:15 UTC
US largest commercial real-estate lender files for bankruptcy protection

Capmark Financial Group Inc., one of the largest commercial real-estate lenders in the United States announced that it had filed for bankruptcy protection. The firm said it has filed motions to allow it to continue to pay vendors and salaries, and that the move “should not impact the way Capmark does business with its customers and partners.”
Tuesday, October 27th 2009 - 07:56 UTC
Housing sales up 13% in Greater Santiago area

House and apartment sales in the Santiago Metropolitan Region have increased by 13.1% compared to 2008, the Chilean Chamber of Construction announced last week.
Tuesday, October 27th 2009 - 07:46 UTC
China launches stock market to help finance new industries

China is launching its long-awaited Nasdaq-style stock market in the southern city of Shenzhen. Twenty eight small- and medium-sized enterprises are expected to debut on the new exchange.
Tuesday, October 27th 2009 - 07:42 UTC
ING group to split banking and life insurance operations

Dutch ING Group on Monday announced that it will move towards a complete separation of its banking and life insurance operations. ING which was bailed out by the Dutch government said it would dispose of its insurance operations over the next four years and raising 7.5 billion Euros in a rights issue.