Argentine Finance minister Nicolas Dujovne said on Tuesday that the economy's recovery at the start of the year was based on investment and not in consumption. It is a heterogeneous recovery, with performance in different sectors: government social expenditure was up 70% but manufacturing was down 80%, mainly because of the Brazilian recession, and domestic contraction, admitted the minister.
Argentina's economic activity grew in January year to year. Economic activity was 1.1% percent higher in January than twelve months before, the first year-on-year growth since last March, according to the latest release from the revamped stats office, Indec.
Argentina's official poverty index in the second half of 2016 dropped to 30.3%, an estimated 12.7 million people, from 32.2% in the first half according to the country's stats office Indec. The 30.3% index includes 6.1% of indigence, which is also below the 6.3% of the first half. The drop means that 800.000 people are no longer in the poverty category index.
Punta Arenas Austral Ports Company, EPA, was part of the Chilean stand at the Seatrade Cruise Global fair which took place in mid March in Fort Lauderdale, Florida and attracts the best of the cruise industry, operators and port terminals from all the world.
Brazil's state-run oil company says it posted a US$4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than US$100 billion.
Argentine president Mauricio Macri is facing a challenging scenario in a crucial year of midterm elections.
The Bank of England has recently introduced a new, more secure UK £5 banknote, and plans to introduce a new UK £1 coin that will replace the existing the existing coins.
Falklands Landholdings, FLH, has managed an excellent 2016/17 wool clip in a year with bullish prices, reports the Penguin News latest edition. A total of 138,302 sheep have been shorn producing 342,980 kilos of clean wool and all packed into 2,653 bales over the last five months.
United States biodiesel producers asked the government to impose antidumping duties on imports of biodiesel from Argentina and Indonesia that it says have flooded the US market and violated trade agreements. The move by the National Biodiesel Board (NBB) trade group comes after two years of tension between US and foreign producers over soaring imports that the group says have threatened the profitability of domestic producers.
Close to 350,000 people in Chile’s capital Santiago and a further two million nationwide took part on Sunday in street protests demanding the replacement of a private pension system imposed under the Pinochet regime, following recommendations from multilateral organisms. The protesters main demand is the elimination of the current pension system, the privately run AFPs (Pension Fund Administrators).