Latin America

• Wednesday, October 31st 2007 - 20:00 UTC

  US subprime crisis hits Chilean wood molding industry

  

  The subprime lending crisis in the United States recently forced Chile's Celulosa Arauco (CELCO), the forestry arm of the Angelini group, to close the La Araucana sawmill located in Los Álamos in Arauco province. The decision left 130 people unemployed.

• Wednesday, October 31st 2007 - 20:00 UTC

  Chile drops in most globalized countries ranking

  Chile fell nine spots in the 2007 Globalization Index, compiled by Foreign Policy magazine and the management consulting firm AT Kearney. Additionally, Chile is no longer the most globalized Latin American country, as Panama and Costa Rica jumped to higher spots on the list

• Tuesday, October 30th 2007 - 20:00 UTC

  Luxury hotel to open in December in Chile's Easter Island

  

  Officials from Posada de Mike Rapu, Explora's new luxury hotel on Chile's Easter Island, confirmed that it will open on December 15. Demand has been high: the hotel is almost completely booked through the remainder of the year.

• Tuesday, October 30th 2007 - 20:00 UTC

  U.N. votes against U.S. embargo on Cuba for 16th year

  The U.N. General Assembly voted overwhelmingly Tuesday to urge the United States to end its 46-year-old trade embargo against Cuba after its foreign minister accused the U.S. of stepping up its “brutal economic war” to new heights.

• Sunday, October 28th 2007 - 20:00 UTC

  Chilean ministers to Congress over Antarctic claims

  

  Chile's Lower House Foreign Affairs Committee has summoned for next Tuesday the ministers of Foreign Affairs and Defence to consider the international statute of Antarctica. The meeting follows on the United Kingdom's recent announcement that it's considering claiming continental shelf rights off Antarctica

• Sunday, October 28th 2007 - 20:00 UTC

  Magallanes asks for extension of pro-business bills

  Magallanes Region in the extreme south of Chile requested from the central government a 20 year extension of the legislation which contemplates certain benefits for business and investment in the remote areas of the country.

• Friday, October 26th 2007 - 20:00 UTC

  Chile announced funding for reopening of Antarctic base

  Magallanes Region government, in the extreme south of Chile announced plans this week to reopen the “Arturo Prat” Antarctic base on Greenwich Island in Chile's Antarctic territory. The announcement follows a proposed application to the U.N. by the United Kingdom for the consolidation of contested maritime territories off the Antarctic coast

• Friday, October 26th 2007 - 20:00 UTC

  P. Arenas Methanex blames poor performance on Argentina

  Canada's Methanex Corportion blamed its poor performance during the third quarter to the serious natural gas restrictions from Argentina which means its main methanol plant in Punta Arenas is working at 25% of its potential.

• Friday, October 26th 2007 - 20:00 UTC

  Chavez blames US foreign policy for soaring oil prices

  Venezuelan President Hugo Chavez said U.S. foreign policy is in part responsible for soaring oil prices and predicted that crude will continue its upward spiral rapidly closing in on the 100 US dollars per barrel benchmark.

• Friday, October 26th 2007 - 20:00 UTC

  Court drops charges against Pinochet's family

  

  Chilean appellate court has dropped corruption charges against the widow and children of the late former dictator Augusto Pinochet. The general's family was alleged to have assisted him hide more than 30 million US dollars in offshore accounts during his 1973 to 1990 rule.