Stories for April 20th 2011

Wednesday, April 20th 2011 - 05:14 UTC
Oil exploration in extreme south of Chile attracts 400 million USD in three years

In the coming three years hydrocarbons exploration and exploitation in the extreme south of Chile will receive investment equivalent to over 400 million US dollars making Punta Arenas a hub for the regional oil industry.
Wednesday, April 20th 2011 - 05:01 UTC
Mexican cruise operator takes off with full evacuation of ‘Ocean Star Pacific’

The 1050 passenger MV ‘Ocean Star Pacific’ was stranded six miles off the Mexican coast at Huatulco by a generator fire, forcing the evacuation of 522 passengers and 226 crew members on Saturday.
Wednesday, April 20th 2011 - 04:44 UTC
Uruguay’s booming tourism industry needs “a harbour for cruise vessels”

Uruguay is seriously considering the construction of a harbour for the cruise industry and admits infrastructure is already lacking in many areas for the exponential growth of the tourism industry, which in 2011 could be reaching the targets set out for the five year period 2010/2014.
Wednesday, April 20th 2011 - 02:49 UTC
Latin America rapidly becoming a middle-class continent, according to ECLAC

Latin America’s middle class increased by 56 million since 1999 with a direct consequence on consumption patterns and demand for government policies, according to a report in the latest edition of the United Nations Economic Commission for Latin American and the Caribbean, ECLAC Review.
Wednesday, April 20th 2011 - 02:27 UTC
Brazil trusts the Fed will end liquidity program in July thus boosting the US dollar

Brazil believes the impact of an undervalued US dollar which is appreciating other currencies such as the Brazilian Real, ‘won’t last long’ according to forecasts from Finance Minister Guido Mantega.
Wednesday, April 20th 2011 - 02:21 UTC
FDI in China soars 32.9% in March, totals 30.3 billion USD in first quarter

Foreign direct investment (FDI) in China grew 32.9% year on year in March to 12.52 billion US dollars, the Ministry of Commerce (MOC) reported Tuesday. FDI in China has increased 29.4% in the first quarter to 30.34 billion USD, MOC spokesman Yao Jian said.
Wednesday, April 20th 2011 - 02:19 UTC
China urges US to adopt “responsible measures” to guarantee investors interests

China, the top holder of U.S. Treasury bonds, urged the United States Tuesday to adopt “responsible measures” after ratings agency Standard & Poor's cut the outlook on U.S. sovereign debt to negative.
Wednesday, April 20th 2011 - 01:15 UTC
Phillips diversifies and cedes control of its 80 year old television unit

Royal Philips Electronics from the Netherlands will cede control of its 80-year-old television unit to an Asian contract manufacturer, joining European conglomerates including Siemens AG scaling back consumer electronics as prices decline.
Wednesday, April 20th 2011 - 01:07 UTC
Google invests in the world’s largest wind farm in the state of Oregon

Google Inc. said announced this week that together with two Japanese partners they will pay General Electric Co. about 500 million US dollars for a majority equity stake in the world's largest wind farm, under construction in Oregon.
Wednesday, April 20th 2011 - 00:49 UTC
First Brazilian pre-salt oil shipment to Chile in mid May

Petrobras, Brazil’s state-controlled oil producer will export its first cargo from the country’s second-largest crude field to Chile in mid-May.