Latin America

• Thursday, October 9th 2008 - 21:00 UTC

  Chile invests in ports facilities for new cruise season

  

  The cruise ship business this coming 2008/2009 season is expected to contribute roughly 45 million US dollars to Chile's economy, according to the Southern Cone Ports Corporation.

• Thursday, October 9th 2008 - 21:00 UTC

  Latam pumps billions to ensure liquidity and prop currencies

  

  Latin-American countries moved quickly this week to face the global financial crisis and came out with a battery of measures pumping billions of US dollars to try and contain the threat of recession.

• Thursday, October 9th 2008 - 21:00 UTC

  Chile plans to improve air link with Tierra del Fuego

  

  Puerto Williams in Chilean Tierra del Fuego will have its airstrip expanded and facilities improved to allow commercial flights thus helping to increase opportunities for the regional tourism industry.

• Wednesday, October 8th 2008 - 21:00 UTC

  Current ozone hole over Antarctica close to 2006 record

  The 2008 ozone hole over Antarctica is larger both in size and ozone loss than 2007 but is not as large as 2006, according to the European Space Agency.

• Wednesday, October 8th 2008 - 21:00 UTC

  Latam markets plunge and growth forecasts downgraded

  

  Latinamerican markets finished sharply lower on Tuesday under pressure from the slide on Wall Street, falling commodity prices and uncertainty about the future. Growth forecasts have also been downgraded.

• Wednesday, October 8th 2008 - 21:00 UTC

  Commodities windfalls are over for Latam, says IMF

  

  Latin American economies are facing an awkward combination of slowing activity, more difficult external conditions, and still-high inflation. After four years of strong output growth, the pace eased in most economies of the region during the first half of 2008, largely because of moderating exports, according to the IMF World Economic Outlook.

• Wednesday, October 8th 2008 - 21:00 UTC

  Brazil and Mexico sell bank reserves to support currencies

  Latin American stocks and currencies fell during another day of volatile trading on Wednesday on fears of a global slowdown. Several central banks had to intervene to cool the demand for US dollars.

• Tuesday, October 7th 2008 - 21:00 UTC

  Argentina and Chile prepare Beagle peace celebrations

  

  Argentina and Chilean presidents will lead peace and reconciliation celebrations next December in Punta Arenas on the thirtieth anniversary of the papal intervention which prevented a full fledged war over the Beagle channel between the neighbouring countries back in 1978.

• Tuesday, October 7th 2008 - 21:00 UTC

  Chile's first monthly trade deficit in six years

  The Chilean economy experienced an unexpected trade deficit in September, the first negative month in six years according to the latest release from the Central Bank. The misbalance was 318 million US dollars; a year ago it was a surplus of 1.37 billion US dollars.

• Monday, October 6th 2008 - 21:00 UTC

  Venezuela's Chavez promises he'll be in office until 2021

  

  Venezuela's Hugo Chavez announced he would not be leaving government until after 2021, in spite of the fact his mandate ends in 2013 and the current constitution does not allow for a new re-election.