Latin America

• Tuesday, June 29th 2010 - 05:09 UTC

  Lion’s share of the drugs business goes to final distributors, says UN expert

  

  The lion’s share (85%) of the gross profits from the cocaine business between South America and the United States ends in the wholesale and retail distribution network in the US according to Antonio Luigi Mazzitelli, head of the UN office on Drugs and Crime for Mexico and Central America.

• Monday, June 28th 2010 - 05:48 UTC

  Chile has become a producer and exporter of premium Wagyu (Kobe) beef

  

  The traditional rivalry between Chile and Argentina is likely to be turned up a notch with the news that Chile could be soon challenging its meat-famous neighbour with the quality of its beef.

• Saturday, June 26th 2010 - 07:41 UTC

  Investing in Panama: An exclusive Report from Alternative Latin Investor

  

  Alternative Latin Investor (ALI), the first and only online news source to provide information on alternative investments in Latin America, has just released an in-depth report on the Panamanian investment environment.

• Saturday, June 26th 2010 - 05:32 UTC

  Ecuador removed from list of countries that do not combat money-laundering

  

  Ecuadorean President Rafael Correa said on Friday his country had been removed from an international blacklist of countries who fail to comply with standards against money-laundering and terrorism financing.

• Saturday, June 26th 2010 - 05:01 UTC

  BP considering sales of assets in Argentina

  

  British Petroleum, BP, is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, according to oil industry sources quoted in the Buenos Aires press.

• Friday, June 25th 2010 - 21:59 UTC

  In seven years Asia became Chile’s main trade partner: absorbs 48% of exports

  

  Between January and May of 2010, Chile shipped approximately 12.7 billion US dollars in commodities to Asia; in this five-month span, 83% of Asia-bound exports were sent to China, Japan, and South Korea.

• Friday, June 25th 2010 - 05:38 UTC

  Venezuela plans to nationalize a fleet of oil rigs from US corporation

  

  Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.

• Friday, June 25th 2010 - 05:33 UTC

  First shipment of Peruvian liquefied natural gas heads for Mexico

  

  Peruvian natural gas was exported for the first time this week from the recently inaugurated Pampa Melchorita plant, to the south of Lima. The LNG was delivered by Spain’s Repsol onto the Barcelona Knutsen Tanker and dispatched to Mexico.

• Friday, June 25th 2010 - 00:29 UTC

  Chile ranks fifth globally in wine exports and eighth in production

  

  Chile has moved up two spots from its 2008 ranking, accounting for 3.7% of wine world production in 2009, according to a report released by the International Organization of Vin and Wine (OIV).

• Thursday, June 24th 2010 - 04:32 UTC

  A majority of Latinamerican children (63%) live in poverty conditions, claims UN

  

  Almost 63% of Latinamerican and Caribbean children and adolescents suffer some kind of poverty determined by the impairments which affect the full exercise of their rights and the income level of their families, according to a joint report from the United Nations Economic Commission for Latinamerica and Caribbean and the UN Children’s Fund, Cepal and Unicef.