
United States faces annual trade sanctions of about 295 million US dollars for failing to scrap illegal subsidies paid to its cotton growers. However the punishment, imposed by the World Trade Organization (WTO), is far less than the 4 billion USD that Brazil, which brought the case, had wanted.

Two months after the mid term elections defeat the Argentine government has managed to recover the political initiative leaving a spastic opposition with little margin. However this has not been enough to neutralize public opinion rejection, which is similar or worse than on June 28th.

The Argentine government announced the creation of a specific committee for the organization of the Malvinas families coming trips to the Falkland Islands for the official inauguration of the Memorial at the Argentine cemetery in Darwin.

Brazil expects to have its first nuclear powered submarine in 2021, to be built in the country with French cooperation and equipped with conventional weapons, confirmed Defence minister Nelson Jobim who underlined the dissuasion potential of such a weapon recalling the Falkland Islands conflict of 1982.

South American leaders “frank and crude” debate last week on the controversial agreement to deploy US forces in seven Colombian bases brought back memories and experiences of the Falkland Islands war between Argentina and Britain in 1982.

The Brazilian government is set to unveil on Monday a sweeping reform of regulations covering the oil and natural gas industries Monday. The regulatory framework will delineate how recently discovered offshore sub-salt oil deposits should be developed, who will develop them and who will reap the rewards.

Colombian President Álvaro Uribe has the H1N1 virus, according to official sources. The Presidency's Information and Press Secretary of Colombia, César Mauricio Velásquez, read an official release Sunday saying that Uribe has the virus, while National Health Institute sources from Bogotá confirmed the diagnosis. Social Welfare Minister Diego Palacio said Uribe is responding well to treatment.

On November 5, 2008, the Chinese government released a policy paper on Latin America and the Caribbean, as it had previously done so for Europe in 2003 and for Africa in 2006.

A historic election win by Japan's opposition Democratic Party on Sunday is likely to buoy Tokyo shares on hopes for less policy deadlock, putting pressure on Japanese government bonds and the yen.

Hundreds of mourners have attended the funeral of US senator Edward Kennedy, who was a political force in America for over 47 years.