Mercosur

• Wednesday, September 1st 2004 - 21:00 UTC

  Lagos and Kirchner mend fences.

  A double Argentine homage to Chilean Nobel Prize poet Pablo Neruda served last Tuesday as a good motive to patch up the recent months strained bilateral relation.

• Wednesday, September 1st 2004 - 21:00 UTC

  IMF praises Uruguay's “political” consensus

  International Monetary Fund Managing Director Rodrigo de Rato praised the sound management of the Uruguayan economy which “has delivered impressive results over the past two years” and highlighted “last year's landmark debt exchange” which has improved the medium-term debt profile.

• 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.