Mercosur

Mercosur
Saturday, January 25th 2014 - 03:25 UTC

Argentina rolls back dollar restrictions hoping to contain market volatility; Monday test day

Capitanich and Kicillof said the Peso reached a 'convergence level' under a policy of 'managed flotation'

Argentina lifted on Friday restrictions on personal US dollar purchases for citizens, ending a prohibition on greenback savings that began at the end of 2011. The new measures, which occur one day after both the official and parallel 'blue' dollar saw record rises, were announced in a short press conference by Cabinet Chief Jorge Capitanich and Economy Minister Axel Kicillof. The measures become effective from Monday onwards.

Saturday, January 25th 2014 - 00:28 UTC

Mantega insists that the Mercosur/EU trade agreement includes Argentina

The Brazilian minister seems to contradict previous statements from Uruguayan minister Luis Almagro

Mercosur is preparing for trade negotiations with the European Union and they include Argentina, said on Friday Brazilian finance minister Guido Mantega at the World Economic Forum taking place in Davos, Switzerland. The comment seems to contradict other recent statements which said the trade deal with the EU will go forward with or without a reluctant Argentina.

Friday, January 24th 2014 - 03:35 UTC

Mercosur/EU with their own problems still don't have a date to continue negotiations

Uruguayan foreign minister estimates sometime after Mercosur summit in February

Mercosur and the European Union continue to work on their tariff reduction proposals list but have no scheduled date for negotiators to meet and advance on a long delayed trade agreement according to Uruguayan diplomatic sources. However what is certain is that when the date is agreed it will be clear if Mercosur consensus proposal will include all founding members of the group.

Friday, January 24th 2014 - 03:33 UTC

Ecuador airline suspends flights to Venezuela because of tickets' debts

Venezuela has not transferred any money to TAME since April 2013

Ecuadorean airline Tame has suspended flights to Venezuela, demanding 43m dollars in overdue payments for tickets. Some 80 passengers were left stranded on Thursday at the airport in the Ecuadorean capital, Quito. Tame says the Venezuelan Central Bank has not transferred any money to its account in Ecuador since April 2013.

Friday, January 24th 2014 - 03:31 UTC

Discos are common in Venezuelan penitentiaries, admits minister

Minister Varela admitting the 'regrettable perversion'

Discotheques have long operated inside Venezuelan penitentiaries, the head of the country's prison service said Thursday in response to a public uproar over the death of a young man after partying at a disco behind bars.

Friday, January 24th 2014 - 03:28 UTC

Falkland Islands cruise ship season looking “relatively healthy”

This weekend the Golden Princess with a capacity for 2,500 passengers is due to make her third call to Stanley

The Falkland Islands cruise ship season is looking “relatively healthy” to date, according to Sulivan Shipping Tourism Coordinator Samantha Marsh, with a third of the estimated 45,000 (total) passengers scheduled still to visit during February. The season got underway in October and to date 12,300 passengers have landed from 41 vessels of varying sizes.

Friday, January 24th 2014 - 02:15 UTC

Argentina: in chaotic trading dollar jumps 12.4% in one day to 8 Pesos in the official market

The central bank lost another 180 million dollars in reserves

In a day of chaotic trading the Argentine Peso on Thursday again plummeted against the US dollar losing 12.4% of its value in the official market, ending the day at just over 8 Pesos. In earlier operations the dollar was selling at 8,31 Pesos until the Central bank decided to intervene helping to cool the market.

Friday, January 24th 2014 - 02:11 UTC

Record hot January for Argentina with thermal factor 47.6 Celsius in Buenos Aires

People try to cool themselves from the unbearable heat

January 2014 is becoming the hottest month in 53 years for Argentina with the thermal factor reaching an unbearable 47.6 Celsius mid afternoon before rain poured bringing some relief to most of the country an particularly in cement city Buenos Aires.

Friday, January 24th 2014 - 02:09 UTC

Argentine 2013 trade surplus down 27%, helping with the dollar shortage

 Energy and fuel imports make Argentina's trade balance most vulnerable

Argentina's trade balance during 2013 left of surplus of 9.24 billion dollars, 27% less than in the previous year (12.42bn), according to the latest release from the official stats office, indec. Exports in the past year grew by 3% to reach a value of 83bn dollars, while imports rose by 8% and totaled just over 74bn.

Friday, January 24th 2014 - 02:07 UTC

Blatter confident it will be a great Cup, after meeting Brazil president Rousseff

“We will do everything to ensure that this will be the globe's most beautiful World Cup”, said Rousseff

FIFA president Sepp Blatter played down concern about sluggish World Cup preparations on Thursday, even when his deputy warned Curitiba must prove it can finalize work to remain a venue. Blatter met visiting Brazilian President Dilma Rousseff at FIFA headquarters in Zurich and the pair both made positive noises about Brazil's ability to deliver come the big kick-off on June 12.

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