Latin America

Tuesday, October 9th 2007 - 21:00 UTC
Chilean exporters howl as US dollar falls to below 500 pesos

The US dollar continued on Tuesday its rapid erosion and closed at 498 Chilean pesos, its lowest value against the local currency since 1999. So far this year the Chilean peso has appreciated 6.41% against the US dollar compared to 3.95% for the twelve months of 2006.
Tuesday, October 9th 2007 - 21:00 UTC
Billiton, Hess and Repsol YPF strike oil in deepwater Gulf of Mexico

BHP Billiton announced Tuesday first oil production from the Genghis Khan development, located in the deepwater Gulf of Mexico, approximately 192 kilometers off the coast of Louisiana. The Company, with co-venturers Hess and Repsol YPF, acquired its interest in Genghis Khan in February 2007 for US$1.33 billion ($583 million net to BHP Billiton).
Monday, October 8th 2007 - 21:00 UTC
Lagos denies “persecution” of Pinochets

Chilean government spokesperson Ricardo Lagos Webber denied Sunday allegations that the government was deliberately persecuting Augusto Pinochet's widow and five children. His remarks come after Pinochet's eldest daugherÃÂ¢€“who, along with her four siblings, was released on bail FridayÃÂ¢€”charged that the family had been held in the so-called Riggs Bank case as “political prisoners.”
Monday, October 8th 2007 - 21:00 UTC
“Che” Guevara remembered 40 years after death

It's been 40 years since the militant revolutionary was executed in a Bolivian schoolhouse. To leftist governments across Latin America, he's still a beloved icon. It was a long fight, but the Cubans have finally conquered this forlorn Andean hamlet, four decades after Ernesto “Che” Guevara was executed in the adobe schoolhouse.
Monday, October 8th 2007 - 21:00 UTC
New round of US influence lobbying in South America

United States Secretary of Commerce Carlos Gutierrez arrived Monday in Uruguay as part of a regional visit that also includes Brazil, with the purpose of further promoting greater bilateral trade, economic growth and greater commercial cooperation.
Monday, October 8th 2007 - 21:00 UTC
IMF Rato warns Latam about impacts of US sub prime crisis

The credit squeeze will force governments worldwide to make substantial changes to their budget plans, Rodrigo Rato, outgoing managing director of the International Monetary Fund, has warned. He said that the credit squeeze was a “serious crisis” that was not over yet and would curtail growth worldwide.
Saturday, October 6th 2007 - 21:00 UTC
Record budget surplus in Chile this year: 8.1% of GDP

Because of high copper prices, Chilean treasury officials now believe that they will end the year with a historic budget surplus of 8.1% of the Gross Domestic Product (GDP).
Saturday, October 6th 2007 - 21:00 UTC
Pinochet's relatives and former associates released on bail

Former General Augusto Pinochet's widow, children and former associates were provisional released on bail Saturday, two days after their arrest on corruption charges.
Friday, October 5th 2007 - 21:00 UTC
Crucial referendum on Sunday for Costa Rica and C. America

On Sunday Costa Rica votes on a crucial free trade agreement with the United States which has the country's electorate split almost equal, according to the latest public opinion polls. The situation could be of concern for the future of Central America's most stable democracy.
Friday, October 5th 2007 - 21:00 UTC
Ecuador willing to rework contracts with foreign oil companies

Ecuador offered on Friday to rework the contracts of foreign oil companies that object to a decree sharply reducing their share of windfall oil revenues. President Rafael Correa surprised companies on Thursday by decreeing that the government will take 99% of the profits gained when oil prices rise above contracted levels. Previously, it was a 50-50 split.