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Chile halts construction of huge gold mine SANTIAGO: A Chilean court suspended construction of what would be one of the world's biggest gold mines on Wednesday, accepting a complaint filed by indigenous groups on environmental grounds.The project was launched in 2009 by Canadian mining company Barrick Gold, the world's largest gold producer, after an initial investment of $8 billion.It plans to spend $8.5 billion more on the unfinished Pascua Lama mine, which straddles the Chile-Argentina border at an altitude of 4,000 meters (13,200 feet), and had hoped to start production next year.But local groups have launched a legal battle to halt the plan, citing concerns over possible damage to a river and resulting in Tuesday's ruling by the Santiago Appeals Court, which was seen by AFP.This came as crews were still removing earth to create the pit from which gold and silver would be extracted, and the order suspends construction of the open-pit mine while the court ...

Among Chavistas, support for Maduro not unconditional CARACAS: A truck barreled through a Caracas market with loudspeakers playing a campaign song of acting President Nicolas Maduro, with a Caribbean beat and the chorus "Chavez I swear, my vote is for Maduro."Many residents, fishmongers and fruit salesmen along the crowded blue-collar neighborhood of Petare have pledged to follow Hugo Chavez's wishes and vote for Maduro in Sunday's presidential election.But most warn that Maduro will not get a free pass if he fails to ...
Santos leads march for peace in Colombia BOGOTA: Colombia's President Juan Manuel Santos led a march for peace through Bogota Tuesday, calling for an end to decades of armed conflict at a time when peace talks in Havana are under fire from his predecessor Alvaro Uribe. Hundreds of soldiers joined Santos and his cabinet ministers at the Plaza of the Fallen Heroes, one of seven starting points for the march by thousands of people, many of them in white T-shirts and carrying ...
Mexico auto output, exports drop in March MEXICO CITY: Mexico's auto production and shipments dropped in March compared with the same month a year earlier, the Mexican Auto Industry Association (AMIA) said on Monday. Automobile output fell 11.2 percent to 238,519 vehicles, while exports slid 9.7 percent to 204,475 units over the same period, the industry group said. Car making is a key component of Mexico's manufacturing sector.March exports to the United States decreased 7.3 percent to 128,761 vehicles, while shipments to ...
Police on trial in Brazil for 1992 prison 'massacre' SAO PAULO: Twenty-six military police officers were due to go on trial here Monday for their role in Brazil's worst prison tragedy that claimed the lives of 111 inmates.The officers are specifically blamed for the deaths of 15 prisoners, who died in pavilion 9 of Sao Paulo's Carandiru penitentiary during an operation to quell a revolt on October 2, 1992. The incident became known as the "Carandiru massacre.""Clearly there was a massacre, an execution. The ...
Chile says CPI rose 0.4pc in March SANTIAGO: Chile's consumer price index posted a 0.4 percent rise in March, its fastest pace since October, coming in above expectations for a 0.3 percent jump and driven higher by rising education, food and non-alcoholic beverage costs, the government data showed on Monday.The CPI rose 0.1 percent in February and 0.2 percent in January, after remaining unchanged in December.Inflation in the 12 months through March was 1.5 percent, below the bottom end of the central ...
Chilean ports back to normal but strike resumption possible SANTIAGO: Most ports in Chile were returning to normal operations on Saturday after an extended strike that slammed the No. 1 copper producer's exports, but the central port of San Antonio remained closed, a union leader told Reuters on Saturday night.If workers at San Antonio do not reach a deal by Tuesday, the rest of port workers will resume their strike in solidarity, Richard Orellana, head of the Angamos port union, told Reuters.Workers at the ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln