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Montevideo, September 28th 2023 - 17:37 UTC

Stories for August 15th 2016

  • Monday, August 15th 2016 - 15:09 UTC

    July inflation in Brazil remains over target: 8.74% in twelve months

    Higher-than-expected inflation this year has forced the central bank to keep its benchmark Selic rate near 10-year highs despite a crippling recession

    Inflation in Brazil rose more sharply in July than economists expected, official data showed, raising pressure on the central bank to keep interest rates on hold for some time.

  • Monday, August 15th 2016 - 13:34 UTC

    New Zealand track Rockhopper penguins 15.000 km winter journeys

    It's hoped the study will help determine why Rockhopper numbers on New Zealand's Campbell Island have plummeted.

    Two species of sub-Antarctic penguin have surprised scientists in New Zealand by travelling up to 15,000km during six months spent at sea. Researchers tagged 90 Rockhopper and Snares crested penguins to find out where they go during the southern hemisphere's winter, and were astonished by the birds' long-distance journeys, the New Zealand Herald reports.

  • Monday, August 15th 2016 - 12:36 UTC

    Norwegian cruise line admits weak Caribbean summer season; South American itineraries “soft”

    “Today is not a happy day at Norwegian headquarters for obvious reasons. We had to reset expectations based on the current booking environment”', said Del Rio

    Norwegian Cruise Line Holdings CEO Frank Del Rio said the company’s “lofty” expectations for the Caribbean this summer have not been met, one factor in revising expectations downward for the rest of the year. In a conference call to discuss second-quarter results this week, Norwegian lowered its guidance for second-half earnings and said it will not make its previously forecast goal of earning US$5 a share in 2017.

  • Monday, August 15th 2016 - 12:21 UTC

    Mercosur Montevideo 23 August meeting to decide sanctions on Venezuela

    Paraguay's deputy minister Gauto has said Venezuela has not complied with 200 rules, regulations and protocols it should have completed on 12 August deadline

    The coordinators of Mercosur founding members will decide next 23 August at a meeting in Montevideo on the legal measures to be applied on Venezuela, which self proclaimed itself the presidency of the group and is also questioned for not complying with the rules and regulations to be incorporated to the group. In that case Venezuela could lose its full member status.

  • Monday, August 15th 2016 - 07:28 UTC

    Argentina's economy: a battle over utility bills is president Macri’s first big crisis

    Macri, who succeeded Cristina Fernández de Kirchner said the energy crisis was the most complex of the “many bombs” she had left for him.

    The following article from The Economist points out that the Argentine Supreme Court in the next ten days has to decide on tariff rises for gas and electricity blocked by lower courts. And president Macri cannot afford to lose sine the price increases are a vital part of his plan to restore confidence in an economy undermined by years of reckless spending.

  • Monday, August 15th 2016 - 07:19 UTC

    Brazil concerned about the 25% surge of the Real against the US dollar

    Temer said he was worried about the Real's recent appreciation against the dollar and added his government will “look for an equilibrium” in the exchange rate.

    The Brazilian Real weakened further on Friday after interim President Michel Temer showed concern over currency strength, while stocks edged lower following a heavy batch of quarterly results including state controlled oil company Petrobras.

  • Monday, August 15th 2016 - 07:09 UTC

    Mercosur-India talks expected to expand preferential trade agreement

    “We are largely interested in exporting processed foods and electronics to Mercosur”, said Sachin Chaturvedi, head at the Ministry of External Affairs

    India has begun the process of expanding its preferential trade agreement with the Mercosur trade bloc, opening its market more to South America and negotiations are expected to start in a month or two. The number of products on which tariff concessions is given is likely to increase to more than 3,000 from 450 at present with more agricultural products getting covered in the pact.

  • Monday, August 15th 2016 - 06:39 UTC

    Falklands/Malvinas: Malcorra confirms new dialogue with UK in a raft of issues

    “We have a relation with the UK that goes beyond the Malvinas issue” but also a  deep disagreement and president Macri has told this to ex PM David Cameron

    Argentina is at the beginning of a new dialogue on the Malvinas issue with the current UK government and this includes air links, hydrocarbons, identifying Argentine graves remains in Falklands, a possible meeting of the two countries' leaders in China, but none of this will happen overnight or make media headlines, anticipated foreign minister Susana Malcorra.