Mercosur

• Thursday, March 24th 2005 - 21:00 UTC

  Rumsfeld praises Lula and warns Venezuela.

  U. S. stepped up its pressure against Venezuela's weapons procurement programme warning that it threatened to destabilize the region. Secretary of Defence D. Rumsfeld's comments during a visit to Brazil, were the strongest indicator yet of growing concern in Washington about the planned acquisition of large quantities of firearms from Russia by President Hugo Chávez's populist government in Venezuela.

• Thursday, March 24th 2005 - 21:00 UTC

  The other side of Chile's success story.

  Chile is a South American economic success story which keeps coming up with impressive macroeconomic figures including the 6,1% growth in 2004, but the bonanza and its 94 billion US dollars GDP still have some way to go before a significant reduction in social inequality and be perceived.

• Thursday, March 24th 2005 - 21:00 UTC

  Food basket: Punta Arenas 34% dearer than Santiago

  The basic family food basket in Punta Arenas was last year among the three dearest in Chile, 34,5% above Santiago, according to a paper from the Economic and Financial Investigations Institute from the Andrés Bello University, based on information from the Chilean Statistics Institute.

• Thursday, March 24th 2005 - 21:00 UTC

  Embattled Peruvian president opens new front

  Given the growing political tension with Peru, because of the alleged weapons sales to Ecuador during the “Condor war” in the nineties, the Chilean government decided Wednesday to temporarily freeze military contacts between both countries.

• Wednesday, March 23rd 2005 - 21:00 UTC

  President Lula launches reelection bid

  Brazilian president Luiz Inacio Lula da Silva reelection bid was officially launched this week by his closest advisor and most influential minister, Jose Dirceu head of Planalto Palace (Government House).

• Wednesday, March 23rd 2005 - 21:00 UTC

  Federal Reserve hikes interest rate to 2,75%

  The Federal Open Market Committee decided Tuesday to raise its target for the federal funds rate by 25 basis points to 2, 75%, and cautioned that it “will respond to changes in economic prospects as needed to fulfill its obligation to maintain price stability”. This is the seventh hike running in nine months.

• Wednesday, March 23rd 2005 - 21:00 UTC

  Chile's presidential primary July 31

  Chile's ruling coalition Concertación Democrática will be holding primary elections next July 31 to decide on its presidential candidate for December elections.

• Wednesday, March 23rd 2005 - 21:00 UTC

  Yamani: oil prices will remain at current record levels

  Oil prices won't drop much from their current record levels unless the United States falls into recession, forecasted Saudi Arabian former Oil Minister Ahmed Zaki Yamani.

• Wednesday, March 23rd 2005 - 21:00 UTC

  Argentina denies compensations for Malvinas veterans

  The Argentine government denies it was considering monetary compensations for Malvinas war veterans and for next of kin of killed servicemen.

• Wednesday, March 23rd 2005 - 21:00 UTC

  Rumsfeld confirms closer US-Argentina military cooperation.

  US Defence Secretary Donald Rumsfeld currently visiting Argentina said that US-Argentina relations are based on “a long friendship which continues to strengthen” and “on common challenges faced by both countries”.