Latin America

• Saturday, May 28th 2011 - 07:24 UTC

  Even if US tightens liquidity, hot money to emerging economies will continue

  

  Capital flows to emerging markets won’t significantly slow when the US Federal Reserve ends its bond-purchasing program known as quantitative easing, said Olivier Blanchard, chief economist at the IMF.

• Saturday, May 28th 2011 - 07:03 UTC

  Mexico strikes major gas deposit in Gulf of Mexico deep water drilling

  

  State-owned oil giant Petroleos Mexicanos, Pemex, announced this week it had struck between 400 billion and 600 billion cubic feet of natural gas and condensates at a deepwater well in the Gulf of Mexico.

• Friday, May 27th 2011 - 22:37 UTC

  Chile’s pulp giant Arauco trebles profits in first quarter of 2011

  

  Chile’s Arauco the forestry and pulp unit belonging to the Copec group, trebled profits in the first quarter boosted by higher international prices and sale volumes particularly pulp, according to the company’s latest financial report.

• Friday, May 27th 2011 - 22:03 UTC

  Unasur Defence Council has to protect the region’s vast and strategic resources

  

  The Union of South American Nations, Unasur, has among the objectives of the recently created South American Defence Council protecting the natural resources of the region which include 25% of the world’s drinking water and proven oil reserves estimated in 123 billion barrels of oil.

• Friday, May 27th 2011 - 09:26 UTC

  Defence minister denies Argentina is “obstructing” the Falklands economy

  

  Defence minister Arturo Puricelli denied Thursday that Argentina was obstructing the economy of the Malvinas Islands as claimed by Falklands’ governor Nigel Haywood in his state of the nation speech to the elected Legislative Assembly of the Islands.

• Friday, May 27th 2011 - 08:58 UTC

  Chavez sacks half of PDVSA board following a 500 million USD fraud

  

  Venezuela’s government giant oil corporation sacked half its board of directors Thursday after PDVSA ’s pension fund lost about 500 million US dollars in a Ponzi scheme linked to a Connecticut-based investor.

• Friday, May 27th 2011 - 08:48 UTC

  Real estate operations in Punta del Este reached 2.25 billion USD in 12 months

  

  Real estate operations in Uruguay’s hottest resort and leisure farms’ area totalled 2.55 billion US dollars in the twelve months to April 2011, equivalent to daily deals involving 7 million USD.

• Friday, May 27th 2011 - 08:32 UTC

  Unasur ‘won’t collapse’ as happened with TIAR during the Malvinas war

  

  Argentine President Cristina Fernandez de Kirchner praised the success of Unasur and forecasted that the South America Defence Council will be far more effective and robust than the previous experience with the TIAR, which “collapsed in 1982 during the Malvinas war”.

• Friday, May 27th 2011 - 01:53 UTC

  Montevideo port ranked ahead of Brazil’s Rio Grande in 2010

  

  In a ranking of the busiest port terminals in Latin America & Caribbean, elaborated in a work of Infrastructure Services Unit of ECLAC, Port of Rio Grande (RS) lost position for the Port of Montevideo, Uruguay. So they were, respectively, the 21st and 19th positions from the list.

• Thursday, May 26th 2011 - 16:10 UTC

  Ban Ki Moon to visit Uruguay that will hold UN Human Rights Council presidency

  

  Uruguay will be holding next month the presidency of the UN Human Rights Council during 2011/2012 and for this motive UN Secretary General Ban Ki-moon is scheduled to visit Uruguay June 16th when he will be meeting President Jose Mujica and other top officials.