Stories for May 2013

Wednesday, May 8th 2013 - 09:40 UTC
First Latinamerican and BRIC representative next head of WTO

Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from Latinamerica and from the BRIC club of emerging economies to take the job.
Wednesday, May 8th 2013 - 09:34 UTC
Francis will visit a favela, meet young prisoners when he arrives in Brazil for World Day of Youth

Pope Francis will visit a favela (slum) and meet young prisoners when he travels to Brazil on his first international trip as pontiff in July, the Vatican announced on Tuesday. The Argentine born pope who has said he wants to make concern for the poor a hallmark of his papacy, will visit the Manguinhos slum in Rio de Janeiro on the fourth day of his July 22-29 trip to the world's largest Catholic country.
Wednesday, May 8th 2013 - 09:29 UTC
China fears a US/EU free trade area could become protectionist; looks to Latinamerica

China has raised concerns about European Union plans to negotiate an ambitious free trade deal with the United States, fearing it is a protectionist move and at the same time Beijing new administration is doubling efforts towards Latinamerica and Africa.
Wednesday, May 8th 2013 - 09:23 UTC
Argentines keep travelling overseas despite the ‘dollar clamp’ and the ‘Coca Cola formula’

Despite the ‘dollar clamp’ and other obstacles to purchase the US currency in Argentina, the number of Argentines travelling abroad increased by 8% last March in comparison to the same period the year before although they spent 6.2% less than in 2012, it was reported by the National Statistics Bureau (INDEC).
Wednesday, May 8th 2013 - 09:19 UTC
Uruguay’s inflation in April eased for third month running, but remains above target

Inflation in Uruguay during April slowed down for third month running, according to the latest release from the country’s Statistics Office, INE. Consumer prices in the fourth month of the year climbed 0.45% with inflation in the last twelve months reaching 8.14%, compare to 8.54% in March.
Wednesday, May 8th 2013 - 09:15 UTC
Chilean court finds naval officers guilty of abduction of Anglo-Chilean priest

Chilean court has found two ex-navy officers guilty of the abduction of Anglo-Chilean priest Michael Woodward. The left-wing priest disappeared shortly after the coup that brought Gen Augusto Pinochet to power in 1973 and his body has never been found.
Wednesday, May 8th 2013 - 09:08 UTC
“Possible submerged continent” found in the Atlantic off the coast of Brazil

A large mass of granite has been found on the seabed off the coast of Rio de Janeiro, suggesting that a continent may have existed in the Atlantic Ocean, a Japanese agency and the Brazilian government announced this week.
Wednesday, May 8th 2013 - 09:02 UTC
Fiat plans to invest 7bn dollars in next three years to remain main automaker in Brazil

Italy’s carmaker Fiat is upping its stake in Brazil, pouring about 7 billion dollars into local investments by 2016, according to a plan its CEO Sergio Marchionne handed President Dilma Rousseff on Monday.
Wednesday, May 8th 2013 - 08:57 UTC
Petrobras finds ‘good quality’ oil in the sub-salt area of the Santos Basin

Brazil's state-run oil company Petrobras found “good quality” oil in a sub-salt area of the offshore Santos Basin, one of the world's most promising oil frontiers, according to a securities filing by Petrobras on Tuesday.
Wednesday, May 8th 2013 - 02:44 UTC
Dollar in Argentina breaks 10 Pesos barrier, despite Cristina Fernandez and her “I want to leave” minister

The ‘blue’ or parallel dollar in Argentina beat a new record on Tuesday by breaking the 10 Pesos milestone and ending trading at 10.08 Pesos. The official rate meantime remained relatively stable and closed at 5.16 and 5.21 Pesos (buying and selling price).