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.
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.
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.
Argentina's Air Force will have no combat aircraft by 2018 since by then the three A4-AR Fightinghawk which remain operational will be decommissioned, according to Argentine defense sources. At the end of 2015, the outgoing Cristina Fernandez administration witnessed the definitive decommissioning of the few operational French built Mirage III.
Uruguayan port charges and fees from port operators and shipping agents are the cause of fresh produce being so expensive in the Falkland Islands, Stanley Nurseries Tim Miller told Penguin News this week. Montevideo port costs add 75-100%, “on top of actual SAAS (shipper) freight costs. In UK similar operations add a mere 20% to the SAAS freight cost said Mr. Miller.
The United Kingdom embassy in Montevideo has announced the opening of the application period of the Chevening Scholarships, which must be done before 8 November 2016. Chevening Scholarships are the UK government’s global scholarship program, funded by the Foreign and Commonwealth Office (FCO) and partner organizations, such as ANII here in Uruguay.
Brazilian financial newspaper Valor Econômico revealed details of an alleged corruption amnesty currently being discussed by lawmakers who have been accused of alleged involvement in the graft scandal at state oil firm Petrobras.
Argentina's inflation rate eased to 2% in July, less than half of what it was two months before when the government began reporting consumer price data after revamping the country's troubled statistics office. The July figure was released on Friday by the new Indec data agency. A month earlier it reported 3.1% inflation for June and 4.2% for May when it issued its first consumer price report since President Mauricio Macri took office in December.
A new report released by the Argentine Catholic University (UCA) points to a somewhat bleak outlook on Argentina’s current socioeconomic situation, with the revelation that 1.4 million people fell into poverty between December 2015 and April 2016. The report also provides a qualitative commentary criticizing President Mauricio Macri’s social policies.
Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.