Economic activity in Chile grew 4.7% in December from the year earlier on gains in the service and retail industries, and ended the twelve months of 2012 with an expansion of 5.5% over the previous year according to Central bank data.
Uruguay seems to be recovering its air connectivity after a rough year that saw the closing down of its flag air carrier Pluna, and the announcement by Spanish airline Iberia that it will cease flights between Montevideo and Madrid as of next April. Iberia is the only European airline currently calling in Uruguay.
Bank of England has chosen not to inject any more money into the economy, leaving its quantitative easing (QE) programme at £375bn. The Bank also left interest rates unchanged at 0.5%.
European Central Bank President Mario Draghi admitted on Thursday policy makers are concerned that the Euro strength will hamper their efforts to pull the economy out of recession and although the exchange rate is not a policy target, he confirmed “it is important for growth and price stability”.
Foreign minister Luis Almagro announced that Uruguay will work for a free trade agreement between Mercosur and Canada during the first half of the year when Uruguay holds the chair of the South American group that also includes Argentina, Brazil, Paraguay and Venezuela.
Argentine authorities backed away from a recent ultimatum for Brazilian mining giant Vale to submit a new timeline for its 6 billion dollars Rio Colorado potash mine, giving the company more time to find a solution for the imperiled project.
Brazil's high fruit demand didn't prevent the general collapse of Argentine export of pears and apples. The exchange rate lag was a determining factor in this trading debacle, but better prospects are expected for 2013.
Argentina’s oil and gas corporation YPF, seized by the government last year, was sued by an investor who accused the company of making false statements prior to its March 2011 public offering.
Colombia announced that it produced an average of 1.01 million barrels of oil per day in January, marking the first time that average crude output for a month surpassed the one million-barrel mark that the government had set as a target for the country's oil industry.
British Chancellor George Osborne has announced the Banking Reform Bill that will not only see savers’ deposits safeguarded but also enforce rules to make it easier for consumers to switch bank accounts.