Economy

Economy
Thursday, May 7th 2015 - 06:48 UTC

Purchase real estate prices in Brazil have fallen in first months of 2015

Rio remains the most expensive with an average purchase square meter price of R$10,653 (approx US$ 3.450), followed by São Paulo: R$8,570 ( US$ 2.760).

Purchase real estate prices all over Brazil have fallen a combined 3.47% in real prices the first months of 2015 according to the Fipe-Zap index. The index collected real estate prices in twenty Brazilian cities and measured them against inflation, registering monthly price rises below inflation for the sixth time in a row.

Thursday, May 7th 2015 - 06:08 UTC

Brazil's industrial production continues to skid, 4,7% in twelve months

“With the March 2015 result, industrial production is 11.2% below the record level reached in June 2013,” the national statistical institute IBGE said.

Brazil's industrial production has dropped 4.7% in the last twelve months after slipping in March by 0.8% amid a sharp downturn in the country's economy, official figures showed Wednesday.

Thursday, May 7th 2015 - 06:01 UTC

Uruguay's economy 'strong enough' to navigate in challenging environments

Bergara said the “challenging” global context includes a strong U.S. economy with a solid dollar, and a “lethargic” EU “rife with financial and political strains”

Uruguay's economy is “strong enough to navigate in a challenging global and regional environment” in which the U.S. dollar is strong and inflation is starting to rise, Uruguayan Central Bank, (BCU), chairman Mario Bergara said during a conference in Montevideo where he discussed the central bank's mission in the current world environment.

Thursday, May 7th 2015 - 05:22 UTC

US for third year running main wheat supplier for Brazil displacing Argentina

Argentina is expected to have a surface reduction of 10%. Uruguay, a drop of nearly 17%; Paraguay 10% and Brazil anywhere from 10% to 20%.

For a third year in a row the United States will be the top wheat supplier for Brazil, displacing Argentina from its historic position, according to the latest release from Brazilian consultancy Trigo & Farinhas. This piece of information is significant given the world prices for grains and wheat planting prospects in South America.

Wednesday, May 6th 2015 - 07:16 UTC

Brazilian leading bank prepares ahead of the country's 'steepest recession in two decades'

CEO Roberto Setubal cut expenses and set aside more profit to help cover problematic loans in the future.

Itaú Unibanco Holding SA, one of Brazil's strongest and leading banking groups is provisioning more for loan losses and curbing loan book growth in a bet that careful risk management will help the bank navigate the country's steepest recession in over two decades.

Wednesday, May 6th 2015 - 07:04 UTC

Uruguay calls for an end to Mercosur 'hollow rhetoric' which undermines jobs

”We want to overcome the hollow rhetoric', said Nin Nova and demanding a rigorous chronogram of tariffs' progressive reduction

Uruguay's foreign minister Rodolfo Nin Novoa called on Mercosur to overcome “hollow rhetoric” and advance towards the elimination of barriers which restrict access to other markets and intra-region trade.

Wednesday, May 6th 2015 - 06:34 UTC

Despite devastating rains and floods Chile's economy grew 1.6% in March

“We expect better figures and more economic dynamism in the third quarter” sustaining the 2015 growth estimate of around 3%”, said minister Arenas

Chile's economy grew at a modest pace in March, as a gradual rebound was weighed down by devastating floods and mudslides in its northern region, central bank data showed on Tuesday. The IMACEC economic activity index, which encompasses about 90% of the economy tallied in GDP figures, rose 1.6% in March from the same month a year ago.

Tuesday, May 5th 2015 - 10:01 UTC

Mercosur prepared to consider the possibility of a 'two-speed' system with EU

 “Some Mercosur members might be ready to begin negotiations with the EU, while the rest can join in time”, said Loizaga

Paraguay's foreign affairs minister Eladio Loizaga admitted in Madrid that Mercosur could consider the possibility of a “two-speed” system in trade and cooperation negotiations with the European Union. The minister was the main speaker at the event organized by Casa de America and the Spanish government news agency EFE.

Tuesday, May 5th 2015 - 09:52 UTC

Mercosur main partners' bilateral trade stalled for the last six years

“Argentina's foreign trade policy has become to the say the least, confusing”, points out the consultant's report.

Bilateral trade between Mercosur main partners Argentina and Brazil, has stalled at an annual 30bn dollars during the last six years (2008/2014), with no prospects of a recovery during 2015, according to Finsoport consultants from Buenos Aires.

Monday, May 4th 2015 - 20:12 UTC

St Helena airport on track: runway 70% completed; grooving and sealing begins

Aerial view over the Dry Gut fill, Taxiway and Apron that are also almost completed ( Pic Deon De Jager)

The government of the British Overseas Territory St Helena has given an update on the construction of the airport which is expected to become operational sometime in 2016, and which continues according to original plans.

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