MercoPress, en Español

Montevideo, August 14th 2018 - 14:00 UTC

Economy

  • Friday, August 3rd 2018 - 09:32 UTC

    Brazil central bank keeps interest rates at an all-time low

    Brazil's central bank kept interest rates at an all-time low on Wednesday and downplayed a recent spike in inflation, suggesting no rate hikes in the immediate future. The effect of a nationwide truckers' strike on prices is likely to fade but will probably further slow a recovery in Latin America's top economy, the bank said, underscoring the outsized impact of the late-May protests.

  • Friday, August 3rd 2018 - 07:48 UTC

    Falklands contrasting opinions on the Sao Paulo air link consequences

    The Falkland Islands government preferred choice for a second commercial flight to the South American continent has met with contrasting opinions as to the practical and potential future consequences of the Sao Paulo destination.This was clearly expressed in the Letters chapter of the Penguin News. One of them comes from the FI Chamber of Commerce, and the second from the main importer of fresh produce to the Islands.

  • Friday, August 3rd 2018 - 07:24 UTC

    Falklands: Sao Paulo as second commercial flight draws strong local response

    Representatives from the tourism industry applauded the “significant milestone”

    The Falkland Island Government’s announcement of their preferred option for a second commercial flight between the Falklands and South America has been met with both applause and outrage, reports the latest edition of the Islands' weekly, Penguin News.

  • Thursday, August 2nd 2018 - 08:04 UTC

    Power outages in Venezuela turn once rich cities into ghost towns

    In the past, Zulians considered themselves living in a “Venezuelan Texas”, rich from oil and with an identity proudly distinct from the rest of the country

    The state of Zulia, the historic heart of Venezuela’s energy industry that was for decades known for opulent oil wealth, has been plunged into darkness for several hours a day since March, sometimes leaving its 3.7 million residents with no electricity for up to 24 hours.

  • Thursday, August 2nd 2018 - 07:35 UTC

    Santos convinced that Maduro's days in Venezuela are numbered, “in the near future”

    “A country with the level of inflation that Venezuela has... that regime has to fall”, Santos said of Maduro's future

    Nicolas Maduro's days as president of crisis-ravaged Venezuela are numbered, his outgoing Colombian counterpart Juan Manuel Santos told the French government news agency.“I can see it happening in the near future,” said Santos, pointing to the International Monetary Fund's latest projection that Venezuela's inflation will hit one million percent this year.

  • Thursday, August 2nd 2018 - 07:24 UTC

    Macri admits annual inflation will reach 30%, “product of this storm”

    Macri advised Argentines to “take care of themselves, look and compare” prices when they shop for groceries and other items

    Argentina's President Mauricio Macri is acknowledging for the first time that the country's annual inflation rate will be 30%. Macri said Tuesday that the high consumer prices “unfortunately are a product of this storm.” He was referring to a sharp devaluation of Argentina's currency and a recent run on the Peso.

  • Wednesday, August 1st 2018 - 20:13 UTC

    Fed leaves benchmark interest rate unchanged; core PCE climbs to 2% in second quarter

    The stance of monetary policy remains accommodative, supporting strong labor market conditions and a sustained return to 2% inflation

    The Federal Reserve held its benchmark interest rate unchanged on Wednesday and reaffirmed its plans to continue raising borrowing costs at a gradual pace. The decision to hold rates had been widely expected and came after a two-day meeting of the Federal Open Market Committee, which dictates monetary policy.

  • Wednesday, August 1st 2018 - 08:59 UTC

    Change of Chinese import duties impacts on Jaguar Land Rover profits

    China plans to cut import tariffs for cars and parts for most vehicles to 15% from 25% from 1 July. As a result many consumers delayed purchases, JLR said.

    Jaguar Land Rover (JLR) has reported a loss for the first time in three years after sales slowed in China. The UK's biggest car firm, which is owned by India's Tata Motors, blamed the setback on “multiple challenges”.

  • Wednesday, August 1st 2018 - 08:18 UTC

    Brazil investigating collusion and price fixing at the fuel pump: largest distributors targeted

    The firms targeted are Petrobras Distribuidora SA; Ipiranga, a unit of Ultrapar Participacoes SA; and Raizen, a Cosan SA and Royal Dutch Shell Plc joint venture

    Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.

  • Wednesday, August 1st 2018 - 07:12 UTC

    China and Argentina ties increasingly closer

    China proposed an expansion of the currency swap deal with Argentina, whose foreign reserves have been drained by interventions aimed at propping up the peso

    China's offer of financial support to Argentina is the latest example of the Asian nation filling a vacuum in what has traditionally been the backyard of the U.S. While President Donald Trump has not paid a visit to Latin America since his inauguration in January 2017, China has stepped up its financial assistance to Argentina and worked to strengthen their trade ties.