Mercosur

• Tuesday, June 6th 2006 - 21:00 UTC

  Repsol-YPF investing heavily in Brazil

  Spain's Repsol-YPF and Petrobras have jointly begun offshore production in Brazil with the country's largest and most sophisticated oil rig.

• Tuesday, June 6th 2006 - 21:00 UTC

  First Caribbean cruise for world's largest vessel

  The world's largest cruise ship has set sail from Miami on her first Caribbean cruise carrying regular passengers, reports BBC. The 160,000-ton Freedom of the Seas has knocked the Queen Mary 2 cruise liner off the top of the list of the world's biggest cruise ships.

• Tuesday, June 6th 2006 - 21:00 UTC

  Argentina's May inflation 0.5%, but consumers doubt

  Argentina's Consumer Price Index rose 0.5% last May, the lowest in three months and below the same month a year ago, totalling 4.4% in the first five months of 2006. Furthermore food and beverage, two essential components of the Basic Food Basket actually contracted 0.3% reported the Statistics and Census Office.

• Tuesday, June 6th 2006 - 21:00 UTC

  Mercosur is “agonising” and Brazil lost “leadership”

  Mercosur is agonising and the situation could worsen if any of its members signs a free trade agreement with a third party, warned former Brazilian president Fernando Henrique Cardoso.

• Tuesday, June 6th 2006 - 21:00 UTC

  Brazil supports Venezuela for UN Security Council

  Brazil's Foreign Affairs minister Celso Amorim said it was only “natural” that his country should support the candidacy of Venezuela, instead of Guatemala, to the United Nations Security Council.

• Monday, June 5th 2006 - 21:00 UTC

  Morales begins land distribution among Bolivian Indians

  Bolivian President Evo Morales launched Saturday his land reform by distributing an estimated 20.000 square kilometres of government property among poor peasants and Indians.

• Monday, June 5th 2006 - 21:00 UTC

  Argentina heading for car sales record year

  Argentina's booming economy is reflecting in the automobile industry with sales of new models and second hand cars forecasted to reach 1.6 million, the highest ever.

• Monday, June 5th 2006 - 21:00 UTC

  Paraguay sacks ambassador in Buenos Aires

  The Paraguayan government sacked over the weekend its ambassador in Buenos Aires following allegations he was an informer for the dictatorial regime of President Alfredo Stroessner, (1954/1989), who worked closely with other military regimes of the region at the time.

• Monday, June 5th 2006 - 21:00 UTC

  Corruption costs Bolivian homes 115 million US dollars

  “Under the table” or irregular payments to Bolivian bureaucrats are estimated to have reached 115 million US dollars in 2005 according to a report sponsored by the United States Agency for International Development made public in La Paz Sunday.

• Monday, June 5th 2006 - 21:00 UTC

  Garcia proclaims victory and calls for dialogue

  Addressing thousands of followers in Lima Sunday night Alan Garcia proclaimed he was the winner of the Peruvian presidential runoff.