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MercoPress, en Español

Montevideo, May 21st 2024 - 18:34 UTC

Economy

  • Tuesday, May 7th 2024 - 14:52 UTC

    Argentina introduces 10,000 peso banknotes amid soaring inflation

    Argentina suffers from high inflation – 287.9 % annualized last March – which requires the use of higher denomination banknotes to reduce logistic costs and facilitate transactions. “

    Argentina has introduced a new denomination of banknotes, the 10,000 peso bill (equivalent to about 10 U.S. dollars), in response to the country's ongoing struggle with high inflation. The Central Bank of Argentina (BCRA) announced that these new banknotes will gradually enter circulation starting this Tuesday and be available at bank branches and ATMs nationwide.

  • Monday, May 6th 2024 - 20:34 UTC

    After EU June elections, agreement with Mercosur can be reached: “A matter of time and timing”, EU negotiator

    For Rupert Schlegelmilch, the agreement with Mercosur “is a complicated process but it is a also matter of time and timing”

    The Mercosur/European Union trade and cooperation agreement, “is a complicated process but it is also a matter of time and timing”, according to Rupert Schlegelmilch, chief EU negotiator of the accord who recently visited Mercosur country and associate members to meet government officials and business groups to confirm EU's determination to finish the deal.

  • Monday, May 6th 2024 - 20:26 UTC

    UK growth to remain sluggish this year, 0,4% and improving in 2025, OECD report

    UK growth to remain sluggish this year, 0,4% and improving in 2025, OECD report

    The United Kingdom GDP growth is projected to remain sluggish at 0.4% in 2024 before improving to 1.0% in 2025, reflecting the waning drag from past monetary tightening, according to the latest report from OECD, Organization for Economic Cooperation and Development.

  • Saturday, May 4th 2024 - 10:59 UTC

    Japanese PM discusses Mercosur FTA with Paraguay's President

    Kishida underlined that Paraguay was a reliable partner

    Paraguayan President Santiago Peña and Japan's Prime Minister Fumio Kishida met Friday in Asunción to strengthen bilateral ties as well as to further discuss a free trade agreement (FTA) with the Southern Common Market (Mercosur). Peña, who holds the group's rotating presidency, expressed in a statement his “fervent desire” to “move forward with a free trade agreement between Mercosur and Japan.”

  • Friday, May 3rd 2024 - 10:59 UTC

    Uruguay: Exports grow 27% interannually in April

    Live cattle recorded a 740% growth from US$ 4 million to US$ 31 million

    According to a study from the government's Uruguay XXI Institute released Thursday in Montevideo, the South American country's exports of soybeans, beef, live cattle, and cellulose drove the total sales abroad to a 27% growth in April from last year's figures during the same month and a 5% increase in the first third of 2024.

  • Thursday, May 2nd 2024 - 19:39 UTC

    Argentina's BCRA again lowers basic interest rates in less than one week

    It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year

    Argentina's Central Bank (BCRA) once again lowered the benchmark interest rate from 60% to 50%. It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year. Thus, yields from fixed-term deposits will fall monthly from the current 5% per month to 4.2% for an annual effective rate of 64.8%.

  • Thursday, May 2nd 2024 - 19:11 UTC

    Argentina: Drop in retail prices expected soon

    Caputo agreed with executives from the main supermarket chains that imported goods would help lower the retail prices

    In line with President Javier Milei's chainsaw politics to curb inflation, Argentine supermarkets expect a drop in retail prices shortly once imported items arrive to compete with local production as agreed upon with the Economy Ministry in March, it was reported in Buenos Aires.

  • Thursday, May 2nd 2024 - 06:38 UTC

    Falklands upgrades compensation for redundancy/unfair dismissal

    MLA Gavin Short, “I am extremely happy to see the approval of these much-needed updates to the Employment Protection Ordinance, particularly regarding the weekly pay cap”.

    The Falkland Islands Executive Council (ExCo) agreed on Tuesday 23 April, legislation updates have been approved for the Employment Protection Ordinance, specifically on compensation for redundancy/unfair dismissal.

  • Thursday, May 2nd 2024 - 05:15 UTC

    Maritime traffic partially restored with temporary corridors at port of Baltimore

    The collapse of the Francis Scott Key Bridge, a vital route used by tens of thousands of vehicles daily, resulted in the tragic loss of six lives

    CBS News is reporting that the port of Baltimore, in Maryland has seen the arrival of a first container ship since the tragic collision and collapse of the Francis Scott Key bridge in March, with the loss of six lives.

  • Thursday, May 2nd 2024 - 05:08 UTC

    The Fed leaves rates unchanged because of lack of further progress on lowering inflation

    Fed chairman Powell said he thought that a rate increase was “unlikely”, while repeating that officials wanted greater confidence that inflation was easing

    The United States kept interest rates unchanged, given “a lack of further progress” toward lowering inflation. This means the Fed rate at 5,25% and 5,5% is at the highest level in more than two decades.