Latin America

• Saturday, October 9th 2010 - 02:05 UTC

  Latam helps “rebalance” world economy by appreciating its currencies

  

  Latin America did its homework and allowed its currencies to appreciate sufficiently in order to contribute to the balance of global growth, International Monetary Fund (IMF) chief economist for the region, Nicolás Eyzaguirre, announced.

• Saturday, October 9th 2010 - 00:44 UTC

  Chilean inflation jumps 0.4% in September pushed by food prices

  

  Monthly inflation in Chile quickened as the cost of food and beverages rose the most in at least 20 months. Consumer prices rose 0.4% in September from a month earlier, the National Statistics Institute, INE, said Friday compared to a 0.1% decline in August. Food and beverage prices rose 1.4 percent last month.

• Saturday, October 9th 2010 - 00:32 UTC

  Tuesday, should be Rescue Day for the 33 Chilean trapped miners

  

  Chilean rescue teams hope to start evacuating next Tuesday the 33 miners who have been trapped 700 metres underground for two months in a survival story that has gripped the world.

• Saturday, October 9th 2010 - 00:15 UTC

  US dollar steady decline in Chile linked to rising copper prices

  

  The US dollar’s value against the Chilean peso experienced a sharp drop in the second semester of 2010. The exchange rate has been on a steady decline, devaluing by 63 pesos since July, until closing Wednesday at 482.7 pesos to the dollar – which was a daily drop of 0.4 pesos.

• Friday, October 8th 2010 - 20:35 UTC

  Chile announces drastic cuts in catch quotas, raps private sector for over-fishing

  

  An immediate drastic reduction in fishing capture quotas and adapting to the new reality was announced this week by Chile’s Minister of Economy Juan Andres Fontaine who unexpectedly participated in the Chilean National Fisheries Council meeting.

• Friday, October 8th 2010 - 00:36 UTC

  Nobel Literature Prize for Peruvian author Mario Vargas Llosa

  

  The 2010 Nobel literature prize winner Peruvian born author Mario Vargas Llosa said that he felt “a great joy'' when he was called with the news, but at first, he thought it might be a joke, ”I thought I had been completely forgotten by the Academy. I didn't even know the prize was being given this month.''

• Wednesday, October 6th 2010 - 23:54 UTC

  IMF recommends Latam fiscal savings to address persistent capital inflows

  

  Latin America is exiting from the global financial crisis faster than anticipated, and should use the opportunity to boost fiscal savings that can slow inflation and prevent overheating, the IMF said Wednesday.

• Wednesday, October 6th 2010 - 23:39 UTC

  Speculation trapped Chilean mines could be rescued before October 18

  

  Excessive pressure on the hammer of the T-130 drill – perforating the so-called “Plan B” escape hole –prompted engineers to stop drilling and change the hammer Monday night at the San José mine in northern Chile, where 33 miners are trapped 700 meters underground.

• Wednesday, October 6th 2010 - 23:21 UTC

  Chilean state oil company ENAP strikes natural gas deposit in Tierra del Fuego

  

  Chilean state owned oil and gas company Empresa Nacional del Petroleo SA, Enap, discovered a new natural-gas well on the Arenal exploration block on the Tierra del Fuego island in the extreme south Magallanes region, the company said Wednesday.

• Wednesday, October 6th 2010 - 22:41 UTC

  Chilean wine exports reach 1.5 billion USD in 12 months, but profits down

  

  Chilean bottled wine exports soared 33.3% and 25.8% during August in volume and value helping to reach the 1.5 billion US dollars and 749 million litres in the last twelve months, with 18.9% and 11.2% increases in volume and value according to the latest release from Vinos de Chile.