Mercosur

• Sunday, July 4th 2004 - 21:00 UTC

  Joint UK-Argentine naval exercises?

  The Argentine Navy is looking forward to holding naval exercises with the Royal Navy in the South Atlantic, according to the Buenos Aires press.

• Sunday, July 4th 2004 - 21:00 UTC

  FAM: contained in Brazil; outbreak in Ecuador.

  Argentina lifted the ban on meat imports from fifteen Brazilian states, which was imposed June 23, following the outbreak of a foot and mouth disease case in the northern state of Para.

• Sunday, July 4th 2004 - 21:00 UTC

  UN observers request for US presidential election.

  Several United States Congressmen have requested United Nations observers to supervise the coming November 2 US presidential elections, confirmed the UN spokesperson.

• Friday, July 2nd 2004 - 21:00 UTC

  Euro zone interest rate unchanged at 2%.

  The European Central Bank decided this Thursday to leave interest rates unchanged at 2%, the lowest in half a century in the area. In its official release the ECB stated that:

• Thursday, July 1st 2004 - 21:00 UTC

  Federal Reserve raises interest rate to 1,25%.

  Stating that the “risks to the attainment of both sustainable growth and price stability for the next few quarters are roughly equal”, the United States Federal Reverse Open Market Committee announced this Wednesday, after two days of deliberation that it decided to raise its target for the federal funds rate by 25 points to 1,25%. Rates were at its lowest since 1958.

• Thursday, July 1st 2004 - 21:00 UTC

  Brazil's GDP expanded 2,7% in Q1.

  Brazil's GDP expanded 2,7% during the first quarter of 2004 compared to the first quarter of 2003 confirming the economic recovery tendency of the country's economy reports the Brazilian Geography and Statistics Institute, IBGE. According to IBGE, Brazil's GDP in the first quarter of 2004 reached 124,3 billion US dollars, that is 1,6% expansion over the last quarter of 2003.

• Thursday, July 1st 2004 - 21:00 UTC

  Lula and his administration loosing ground.

  Brazilian president Luiz Inacio Lula da Silva and his administration continue to loose ground in the latest public opinion polls released this week in Brazil.

• Thursday, July 1st 2004 - 21:00 UTC

  Save electricity?if not blackouts.

  China has launched a massive national campaign to save electricity and avoid waste which includes raising air conditioners temperature and warnings of supply cuts to hotels that do not comply.

• Thursday, July 1st 2004 - 21:00 UTC

  Unemployment figure surprises Chile.

  An unexpected raise in the national unemployment rate reaching 9,4% in the March-May quarter surprised Chilean authorities and market analysts who were expecting a slight decline closer to 8,8%. The 9,4% index represents a 0,7% increase over the previous quarter and 0,6% over the same period in 2003.

• Wednesday, June 30th 2004 - 21:00 UTC

  Double trade in the next four years.

  Doubling trade in the next four years is the main commercial objective of the current state visit of Argentine President Nestor Kirchner to China, said Secretary of Economic International Relations Martin Redrado.