Latin America

Financial News

Petrobras Discovers Oil in Two Onshore Wells in Brazil's Sergipe Basin Petroleo Brasileiro SA, Brazil’s state- controlled energy company, discovered oil in two onshore wells in the country’s Sergipe basin.

Brazil's Bovespa Drops on Concern About Slowing Growth; Petrobras Declines Brazil’s Bovespa index fell for the first time in seven days on concern the global economic slowdown may be prolonged and on a report Petroleo Brasileiro SA is seeking $15 billion in funding.

Antofagasta Plc Raised to `Buy' by MF Global on `Attractive' Valuations Antofagasta Plc, the copper miner controlled by Chile’s Luksic family, was raised to a “buy” recommendation from “neutral” by MF Global Securities Ltd. as metal prices fell to “close to or beneath” production cost.

Emerging-Market Equity Funds Lose Record $48.3 Billion in 2008, EPFR Says Emerging-market equity investors withdrew a record $48.3 billion from their funds in 2008 as the global financial crisis and economic recession hurt demand for riskier assets, according to data from EPFR Global.

Chile Had $224 Million Trade Deficit in December as Exports Plunged 24% Chile’s posted its second trade deficit four months in December as exports tumbled as the global financial crisis undercut demand.

Brazilian Currency Declines Most Against the Dollar in More Than a Week Brazil’s real fell the most against the U.S. dollar in more than a week.

Iochpe Maxion Fires 1,100 Workers in Brazil as Demand Slows, Globo Reports Iochpe Maxion SA fired 1,100 workers in Brazil amid slowing demand for its railway freight cars and castings, O Globo reported, citing Finance Director Oscar Becker.

Petrobras May Seek Up to $15 Billion in Loans, O Estado de S. Paulo Says Petroleo Brasileiro SA, Brazil’s state-controlled oil company, may seek as much as $15 billion in loans, O Estado de S. Paulo reported, citing two bankers it didn’t identify.

General News

New Galapagos Species of Pink Iguana, Unseen by Darwin, Found on Volcano Pink iguanas unseen by Charles Darwin when he visited the Galapagos Islands have been identified as a new species 150 years after the British scientist published his theory of evolution in “The Origin of Species.”

Arctic Temperatures Grip Europe for Second Day; Snow Halts Milan Airports Arctic conditions gripped Central Europe as temperatures in Germany and Poland plunged below minus 25 degrees Celsius (minus 13 degrees Fahrenheit) for a second day. A snowstorm in Milan brought air traffic to a halt.

Tattooed Brazilian Celebrity Chef Savors Amazon Flavors at D.O.M. Eatery Sitting in the dark wooden bar at his acclaimed Sao Paulo restaurant, D.O.M., Alex Atala doesn’t have a moment to rest.

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