Mercosur

• Wednesday, November 12th 2003 - 20:00 UTC

  Spanish monarchs begin visit to Argentina.

  Spanish monarchs King Juan Carlos and Queen Sofia began last night their fourth official visit to Argentina determined to consolidate what Spanish officials describe as the “very good relations” between both countries.

• Wednesday, November 12th 2003 - 20:00 UTC

  Argentine judge to subpoena foreign bankers.

  An Argentine federal judge will subpoena German, American and Swiss bank executives for questioning about an alleged multi-million-dollar asset-stripping scheme that hurt thousands of Argentine and Uruguayan investors.

• Wednesday, November 12th 2003 - 20:00 UTC

  Argentina, Chile say they'll surmount consulate incident.

  The governments of Argentina and Chile agreed Tuesday that the “excellence” of their bilateral ties will make it possible to surmount the flap created when two Chilean army spies were caught burglarizing an Argentine consulate in the neighboring country.

• Tuesday, November 11th 2003 - 20:00 UTC

  French oil demands $1 billion compensation from Argentina.

  French oil giant Total is demanding a billion US dollars compensation from Argentina before a World Bank investment protection arbitration tribunal arguing that the 2002 freeze of hydrocarbons prices and derivates, plus the devaluation of the Argentine currency has caused massive losses to the company.

• Tuesday, November 11th 2003 - 20:00 UTC

  EU-Mercosur Brussels meeting.

  European Union and Mercosur ministers will be meeting this week in Brussels, Belgium in an attempt to rescue the strategic association agreement that has been seriously conditioned following the collapse of the September World Trade Organization round in Mexico.

• Tuesday, November 11th 2003 - 20:00 UTC

  YPF-Repsol targets diversification.

  YPF-Repsol plans to invest 5,5 billion US dollars in Argentina in the coming four years, with 2,6 billion specifically earmarked for hydrocarbons exploration and production. The investment program is scheduled to be officially announced this week when the company's president Alfonso Cortina arrives in Buenos Aires.

• Tuesday, November 11th 2003 - 20:00 UTC

  Chile apologizes to Argentina for espionage incident.

  Chilean Foreign Secretary Soledad Alvear this Monday formally apologized to the Argentine Ambassador in the name of the Chilean government, for the military espionage attempt at the Argentine consulate in Punta Arenas.

• Monday, November 10th 2003 - 20:00 UTC

  Rift over President Kirchner's economic policies.

  Argentine Minister of Interior Anibal Fernández ratified this Sunday that no public utility rates will be modified until all contracts have been reviewed, adding that those companies that did not keep to contract “will have the concession rescinded”.

• Monday, November 10th 2003 - 20:00 UTC

  A more flexible FTAA.

  Delegates from United States and fifteen other hemispheric countries meeting over the weekend in Virginia have apparently discovered the word “flexibility” which should help push aside fears of failure in the coming Free Trade Association of the Americas, FTAA, and ministerial summit to be held in Miami.

• Monday, November 10th 2003 - 20:00 UTC

  Per capita income, 3,700 US dollars.

  Argentina's per capita income after dropping 60% in 2002 will reach 3,700 US dollars in 2004, which is still below Chile and Mexico, and a mere 7% of the average Swiss per capita income.