Pope Francis criticised what he called savage capitalism on a visit to a food kitchen on Tuesday, in an address in which he called for the values of generosity and charity to be revived.
Uruguay's main economic problem is high inflation, and policymakers will continue to use interest rates and bank reserve requirements to bring it under control, Vice President Danilo Astori said on Tuesday. Consumer prices in Uruguay rose 8.14% in the 12 months through April, far outside the country's official annual target range of 4 to 6%.
Prime Minister David Cameron has urged British overseas territories to get their house in order and sign up to international treaties on tax. He wrote to 10 territories and crown dependencies, including the Cayman Islands and the Isle of Man, which operate low-tax regimes.
Shares in cruise company Carnival have fallen more than 7% after it issued a profit warning its second in just three months. Carnival, which operates ships under brands such as P&O and Costa Cruises, said full year revenues, which were expected to be flat, would now fall 2-3%.
Chile is the third most attractive country for copper mining investments behind Canada and Australia according to a report from the Chilean Copper Committee, Cochilco that includes fifteen leading countries in the industry and was released this week by Mining minister Hernan de Solminihac in Santiago.
Argentines expect inflation to average 34.9% in the next twelve months according to a private report released on Monday by the Finance Research Centre, CIF, belonging to the Torcuato Di Tella University.
Currency strength due to stimulus measures in the developed world is currently Latin America's Achilles' heel, though the region's macroeconomic management is a bright spot, the head of the United Nations' body for the region said on Monday.
Argentine government trade restrictions on overseas sales of beef have turned Paraguay into Mercosur third largest exporter behind Brazil and Uruguay. The first place last year belonged to Brazil with exports of 1.3 million tons; Uruguay, 350.000 tons; Paraguay, 210.00 and finally Argentina.183.000 tons.
The Falkland Islands International Tourism Statistics Report released to the public this week records that 2012 was the second highest year on record in terms of overnight visitors travelling for leisure. There were 7,791 overnight tourists (as opposed to day trip cruise tourists) arrivals in the Falkland Islands in 2012, of which 1,937 could be classed as leisure visitors. Overall, tourist arrivals have grown at an average annual rate of 7% per annum over the period 2000-2012.
Brazil’s Congress approved legislation that opens up state-owned ports to private investment and lifts restrictions on the building of private ports in a bid to eliminate serious bottlenecks strangling the country’s export growth. The Brazilian Association of Infrastructure and Basic Industries praised the approval of the bill and anticipate investment of 25bn dollars.