Cuba on Tuesday was formally accepted as a member of the Rio Group of Latin American nations, handing the communist island a symbolic victory over US efforts to bar it from regional organizations.

Poor start for the Mercosur summit in Salvador Bahía, Brazil. Mercosur member countries have been unable to reach an agreement in one of the main points of the agenda and which has been a stumbling issue for years: elimination of the double tariff on imports from third countries and which are then re-exported inside the block.

The discovery and exploitation of new oil and gas wells in the extreme south of Chile has generated a boom for the Magallanes Region which is creating a significant demand for technicians and specialized labour.

Mercosur presidential summit next week in Brazil has on the table an agenda of several highly sensitive issues that could deepen the rift between senior members Argentina and Brazil and junior members Paraguay and Uruguay, according to Uruguayan parliamentary sources.

THE anniversary of the Battle of the Falkland Islands, the second major naval engagement of the First World War, was this year also the date chosen for the signing of the new Falklands Constitution.

Argentine and Chilean naval forces will hold this week the Viekaren IX joint exercises in the Beagle channel zone in Tierra del Fuego, extreme south of South America, according to a release from the Chilean navy.

The Admiral Chabanenko had earlier completed manoeuvres with Venezuela's navy, coinciding with a Latin American tour by the Russian president.
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Former Chilean President Ricardo Lagos announced he's not running in next year's presidential race, leaving the ruling but weakened centre-left Concertacion coalition without its main contender.

The Bank of England cut interest rates on Thursday by one percentage point, from 3% to 2% - the lowest level since 1951. The move, which followed a dramatic cut in November, has been welcomed by many commentators who said the cut should help the slowing economy.