Stories for April 29th 2011

Friday, April 29th 2011 - 05:47 UTC
Brazil’s mining giant buys stake in controversial Amazon dam project

Brazil giant mining corporation Vale SA, in which the government has a dominating stake position, agreed to buy a stake in a controversial hydro-power project in the Amazon and invest about 2.3 billion Real (1.5 billion USD).
Friday, April 29th 2011 - 05:40 UTC
Brazilian exporters demanding a “weaker” Real to regain competitive edge

The strength of the Brazilian Real against the US dollar is “very worrying” for the country's exporters, with many companies struggling with higher production costs and a reduced ability to compete in global markets, Bunge Brasil CEO Pedro Parente said Thursday.
Friday, April 29th 2011 - 05:37 UTC
High interest rates in Brazil for a long period, anticipates central bank

The Brazilian central bank said it will raise interest rates at a slower pace for a longer period than initially planned as the country’s inflation outlook worsens, according to the minutes of its April 19-20 meeting.
Friday, April 29th 2011 - 05:34 UTC
Menem forecasts Cristina’s re-election in October but also the end of Kirchnerism

Former Argentine president Carlos Menem (1989/1999) forecasted ‘a hands-down’ victory for President Cristina Fernandez de Kirchner next October, although he also forecasted that when her four years are up “it will be the end of Kirchnerism”.
Friday, April 29th 2011 - 05:31 UTC
Argentina arrests the alleged brains behind submarines used to smuggle cocaine

Authorities in Argentina say they have detained a Colombian man they accuse of being the brains behind the submarines used to smuggle drugs to the United States.
Friday, April 29th 2011 - 05:21 UTC
Oil soars to its highest in 31 months and US dollar plunges to three year low

United States crude oil futures rose Thursday to hit a 31-month high settlement after a volatile trading session while the US dollar fell to a three-year low against major currencies following on the Federal Reserve's intention to keep interest rates near zero.
Friday, April 29th 2011 - 05:10 UTC
French Navy state of the art space tracking floating lab calls in Montevideo

A French navy vessel equipped with state of the art systems for tracking missile launchings and other space objects called in Montevideo as part of its tour of the South Atlantic.
Friday, April 29th 2011 - 05:06 UTC
Lima Declaration seals the Pacific Alliance of Peru, Chile, Colombia and Mexico

The presidents of Latin America's most pro-business countries, Peru, Chile, Colombia and Mexico agreed on Thursday to deepen their existing commercial ties and further open doors to lucrative Asian markets.