Latin America

• Friday, May 14th 2010 - 01:22 UTC

  Indian Sub-Submersible Gas Rig Sinks off the Coast of Venezuela

  

  Aban Offshore (BOM:523204), India’s largest offshore drilling and oil field services provider, suffered a major setback on Thursday, when its gas platform Pearl sunk off the coast of Venezuela. This was one of Aban’s biggest money spinning rig earning 358,000 US dollars a day.

• Thursday, May 13th 2010 - 21:09 UTC

  Korean Jigger Operating in Falklands’ Waters to be Broken Up in Punta Arenas

  

  Chilean authorities in the extreme south of the country have decided to deny port access in Punta Arenas to a Korean flagged jigger which arrived from the Falkland Islands having suffered extensive damage following a fire in the engine room. Her fate seems to be breaking her up.

• Thursday, May 13th 2010 - 10:58 UTC

  Bolivian Presidency Buys Manchester United Dassault Falcon Craft

  

  The Bolivian government confirmed this week that it has bought a luxury airplane model Dassault Falcon 900Ex Easy that originally belonged to Manchester United. The admission came in the midst of growing social unrest to protest for a higher national minimum wage.

• Thursday, May 13th 2010 - 10:53 UTC

  UNASUR Closer to its Formal Existence: Peru Ratifies Founding Charter

  

  Peru became the fifth country to ratify the Union of South American Nations founding treaty, which means the organization is now only four short for the nine to become legally effective.

• Wednesday, May 12th 2010 - 21:57 UTC

  Santos Promises More Uribe and Retakes Lead in Colombian Presidential Campaign

  

  With less than three weeks to Colombia’s May 30 presidential election, the incumbent candidate Juan Manuel Santos has recovered lost ground and the surprise hopeful Antanas Mockus with his “green tide” has fallen back with opinion polls showing a technical draw.

• Wednesday, May 12th 2010 - 19:43 UTC

  Mexicans and Argentines Among the Happiest People, said Index

  

  Mexicans and Argentines are among the happiest people, according to a Happiness Barometer Index tested in 16 countries which also confirmed that face-to-face time spent with friends and family makes people happier than socializing online.

• Wednesday, May 12th 2010 - 18:44 UTC

  Colombia the Rising Star of the Oil Industry in South America

  

  Colombian Oil Company Ecopetrol (NYSE:EC) said this week it broke an 11-year-old export record in April, selling 403,510 barrels per day (bpd) of crude oil and refined products to foreign clients.

• Wednesday, May 12th 2010 - 18:42 UTC

  Construction Activity Picks up in Chile for the First Time Since December 2008

  

  Construction activity increased for the first time since December 2008, according to the Monthly Construction Activity Index (Imacon) released by the Chilean Chamber of Construction this week. The Index shows an increase of 1.4% from March 2009 to March 2010, reflecting a rise in employment and demand.

• Wednesday, May 12th 2010 - 07:18 UTC

  Chile’s Piñera to Address Business Leaders Previous to Latam/EU Summit

  

  Chile’s president Sebastian Piñera has a busy schedule planned for the upcoming Latin America, the Caribbean and the European Union Summit scheduled for Madrid early next week. Piñera will use the opportunity to explain exactly what he wants to do with his four years of presidency.

• Wednesday, May 12th 2010 - 00:06 UTC

  Chile Gained 1.2 Square Kilometres Following the Earthquake

  

  The Chilean territory expanded 1.2 square kilometres into the Pacific following the February earthquake that ravaged the centre and south of the country, according to Sergio Barrientos, head of the University of Chile Seismologic Institute.