Mercosur

• Wednesday, May 12th 2004 - 21:00 UTC

  A new government oil company is born in Argentina

  The Argentine government announced this Tuesday the creation of a government energy agency to ensure the supply of gas and electricity at accessible prices for the domestic market. Argentina is currently undergoing a serious energy crisis with domestic shortages and reduced overseas sales with diplomatic consequences in the region.

• Tuesday, May 11th 2004 - 21:00 UTC

  Latinamerican markets collapse.

  Latinamerican financial markets and currencies this Monday kept sliding as they did towards the end of last week given investors fears of a rise in United States interest rates.

• Tuesday, May 11th 2004 - 21:00 UTC

  Ammoniac explosion leaves 67 injured in Montevideo

  The explosion early Monday of an ammoniac tank in a Korean jigger moored in Montevideo left 67 people hospitalized of which five in pharmacological comma, 19 in intensive care units and the rest with different degrees of intoxication.

• Monday, May 10th 2004 - 21:00 UTC

  Chile's economy the most competitive in LA.

  Chile continues as the most competitive economy in Latinamerica according to a report from the prestigious Swiss IMD Business Administration Institute.

• Monday, May 10th 2004 - 21:00 UTC

  Natural gas sources diversification

  Chile announced the medium term diversification of its natural gas supplies and the creation of a consortium that will import the necessary volumes from different countries.

• Monday, May 10th 2004 - 21:00 UTC

  Peruvian president on the tight rope.

  Fist line opposition leaders, members of Congress and even presidents of the 25 regional councils of Peru are demanding elections be advanced since there's a general feeling that President Alejandro Toledo's administration is rapidly nearing its end.

• Monday, May 10th 2004 - 21:00 UTC

  Argentine tourists returning to Chile

  Strong recovery with positive prospects is how the Chilean Tourism Council (dependent from the National Chamber of Commerce) describes the performance of the Chilean tourism industry in 2003/04.

• Monday, May 10th 2004 - 21:00 UTC

  World's fourth exporter of turkey

  Chile is the world's fourth main exporter of turkey, behind United States, France and Brazil, according to the Poultry Farmers Association of Chile, APA, based on information from the US Department of Agriculture.

• Monday, May 10th 2004 - 21:00 UTC

  Euro zone rate unchanged at 2%

  The Governing Council of the European Central Bank decided last week to keep interest rates in the Euro zone unchanged at 2% as expected by markets. However, following ECB president Jean Claude Trichet comments analysts are convinced rates will be modestly increased in the coming months particularly towards the end of 2004.

• Sunday, May 9th 2004 - 21:00 UTC

  Argentina establishes new hake fisheries quota.

  Argentina's Secretary of Agriculture, Livestock, Fisheries and Foods (SAGPyA) finally issued a Resolution 484/2004 regulating hake (Merluccius hubbsi) fishery between April 1 and July 31. The maximum catch authorised for this period has now been established at 159,554 tonnes to be distributed among all vessels operating north and south of parallel 41º S.