Stories for August 31st 2004

Tuesday, August 31st 2004 - 21:00 UTC

Direct Gibraltar-Madrid encounter.

An agreed statement is expected to be made later this week following the private meeting held last weekend between Gibraltar Chief Minister Peter Caruana and Director General for Europe of the Spanish Foreign Affairs Ministry Jose Pons.

Tuesday, August 31st 2004 - 21:00 UTC

IMF suggests flexible exchange rate for China.

In its latest report on the Chinese booming economy the International Monetary Fund warns that a “soft landing is not yet assured” and recommends the quick introduction of a more flexible exchange rate. The Yuan is pegged to the US Dollar and has been criticized for unfairly cheapening Chinese exports.

Tuesday, August 31st 2004 - 21:00 UTC

Chile tightens control on high seas fishing.

A new decree which regulates foreign flagged factory vessels operating in high seas next to Chile's EEZ that call into Chilean ports was highlighted as “extremely positive” both at regional and national level by Jorge Cofré, president of the Fishing Crews Union in Punta Arenas.

Tuesday, August 31st 2004 - 21:00 UTC

Oil industry brings Norway and Brazil closer.

The Brazilian business delegation present at the Oil Offshore Northern Seas fair in Norway captured deals worth over 50 million US dollars, the establishment of two oil industry support plants in Brazil and prospects of closer working contacts with the Norwegian government owned Statoil.

Tuesday, August 31st 2004 - 21:00 UTC

Lan Chile sparks congressional debate.

The Lower House of the Chilean Congress will be debating in the coming days a report from the Extreme Zones Committee on the Chilean domestic air market which among other proposals recommends splitting Lan Chile's dominating position and tackling “only operator” situations such as happens with Magallanes Region.

Tuesday, August 31st 2004 - 21:00 UTC

Test feeding Chilean abalone with kelp.

Findings related to innovations in algae farming and subsequent impact on breeding invertebrate herbivores mainly abalone, were presented last August 19 in Puerto Montt during the conference on ”Macrocystis pyrifera (kelp) farming in Chile”, sponsored by the Chilean Promotion Fund for Scientific and Technological Development, FONDEF.

Tuesday, August 31st 2004 - 21:00 UTC

Mexico finds massive oil deposits but?.

Mexico's government owned Petroleos Mexicanos, Pemex, has discovered and mapped huge deep water oil reserves in the Gulf of Mexico increasing the country's reserves to the tune of the main league of world producers, reports the Mexican press.

Tuesday, August 31st 2004 - 21:00 UTC

Financial crisis cost Argentine Treasury 28 billion

Abandoning the exchange rate fixed parity policy of one US dollar equivalent to one Argentine peso in January 2002 cost Argentina an additional 28,184 billion US dollars in sovereign debt according to the latest release from the Finance Ministry.

Tuesday, August 31st 2004 - 21:00 UTC

Joint naval exercises in Beagle channel.

Chilean and Argentine naval units begin this Wednesday the annual Viekaren VI2004 exercise which involves search and rescue operations in Antarctic waters in preparation for the coming Antarctic season.

Tuesday, August 31st 2004 - 21:00 UTC

IMF Rato's visit to Argentina: “short and productive”

The International Monetary Fund and Argentina will resume discussions “once we have had a chance to assess the outcome of the debt restructuring and the continued further work on the structural issues”, according to a short release from the IMF following Managing Director Rodrigo de Rato “short and productive” visit to Buenos Aires this Tuesday.