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Montevideo, February 25th 2024 - 08:51 UTC

Stories for 2016

  • Wednesday, December 14th 2016 - 05:10 UTC

    Trump challenges Congress and nominates close friend of Putin, Rex Tillerson Secretary of State

    Rex Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.

    Donald Trump officially announced his plan Tuesday to nominate ExxonMobil CEO Rex Tillerson as secretary of state, a pick that could pose complications in the confirmation process due to Tillerson's ties to Russia. Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.

  • Tuesday, December 13th 2016 - 16:17 UTC

    Sorry, “no fish and chips, what about some squid and chips”; UK waters warming

    Squid and other fish that thrive in warmer waters, such as sardines and anchovy, are flourishing around the North Sea, according to fisheries data.

    The traditional British fish supper could be replaced by the likes of squid as the waters around the UK's shores grow warmer, say government scientists. Squid and other fish that thrive in warmer waters, such as sardines and anchovy, are flourishing around the North Sea, according to fisheries data. Squid are now being caught at 60% of survey stations in the North Sea, compared with 20% in the 1980s, but the likes of cod are heading north, away from British waters.

  • Tuesday, December 13th 2016 - 15:42 UTC

    Temer preparing stimulus measures to prop the economy and his political future

    Temer is gambling the micro-economic measures will counter discontent over his failure to deliver on his promise to recover the economy from a two-year recession.

    President Michel Temer, fighting for survival over corruption allegations against him and his government, is planning new measures to jump start Brazil's stalled economy, improve his dismal approval ratings and stifle calls for his resignation.

  • Tuesday, December 13th 2016 - 15:31 UTC

    .Bearish market for commodities and protectionism impact on Latin American exports

    The export contraction was due to a fall in sales to the United States (-5%)  and to the region itself (-11%), which together explained three quarters of the total

    Latin American and Caribbean exports are expected to fall approximately US$50 billion, or 6%, in 2016, a lower contraction rate than the 15% observed in 2015. This relative improvement was mainly due to a rebound of commodity prices, according to a report conducted by the Inter-American Development Bank (IDB) using detailed data for 24 countries in the region. The value of total exports should reach US$850 billion in 2016.

  • Tuesday, December 13th 2016 - 11:01 UTC

    Argentina to spend over $ 40 billion on military equipment

    Argentina's Defense Minister Julio Martínez needs new equipment for his forces

    President Mauricio Macri has approved the purchase of airplanes for the Air Force, patrol vessels for the Navy and armored vehicles and combat rifles for the Army, it was announced Monday to give the Armed Forces back some of their lost firepower, Defense Minister Julio Martínez revealed. The total purchases will surpass 40 billion pesos (2,500 million US dollars), the minister added.

  • Tuesday, December 13th 2016 - 10:45 UTC

    Cuba, Europe normalize relations after 20 years

    Federica Mogherini and Cuban Foreign Minister Bruno Rodríguez signed an agreement to restore relations between the island and Europe.

    Cuba and the Eurpean Union Monday signed in Brussels their first cooperation agreement, which will be from now on the legal basis of the link between the island and the 28 EU countries.

  • Tuesday, December 13th 2016 - 10:32 UTC

    Argentina ready to take Mercosur chair: priority is the trade accord with Europe

    Not ignoring controversy over Venezuela, Malcorra insisted that priority are talks with the EU and advancing on a common agenda.

    Argentina's priority as chair of Mercosur which it will officially take over this week will be to advance negotiations with the European Union for a wide ranging trade agreement which will not include Venezuela, anticipated foreign minister Susana Malcorra .

  • Tuesday, December 13th 2016 - 10:23 UTC

    Chaos in Venezuela: bills and coins pulled out of circulation to combat hyperinflation

    The 100-bolivar note will be removed in 72 hours as of Tuesday, state media said on Monday, with new, higher-denomination bills due on Thursday.

    Venezuelans hastily dumped the country's 100-bolivar bill, the largest denomination, on Monday after the government said it would be pulled from circulation as the crisis-racked nation suffers what is believed to be the world's highest inflation. Populist president Nicolas Maduro said the withdrawal of the bill — worth just 2 U.S. cents on the black market — was needed to reduce contraband of the banknotes on the Venezuela-Colombia border.

  • Tuesday, December 13th 2016 - 08:49 UTC

    First loan for an Andes tunnel to connect Argentina with Chile as part of Mercosur road net

    The new Agua Negra tunnel will be 13.9kms long and stand at an altitude of 3,620 to 4,085 meters above sea level, at an estimated cost of US$ 1.5bn

    The Inter-American Development Bank (IDB) has approved a US$40 million loan that will allow for bidding to begin for the Agua Negra tunnel, which will connect San Juan province in Argentina with that of Coquimbo in Chile. The tunnel is key to improving trade integration between the two countries and the rest of Mercosur through a new corridor that will connect the Atlantic and the Pacific from Porto Alegre, Brazil, west to Coquimbo, Chile.

  • Tuesday, December 13th 2016 - 07:51 UTC

    Another Goldman Sachs/Wall Street top official named to Trump's economic team

    At Goldman, Cohn was in charge of some of the firm’s cash-cow businesses, including the division overseeing fixed income, currency and commodities.

    Gary Cohn who was tapped Monday by President-elect Donald Trump to head the Gary Cohn , is second-in-command at investment banking giant Goldman Sachs, which he once hoped to lead. Cohn, 56, has worked on Wall Street since the 1990s and is one the firm’s best known public faces. He makes frequent television appearances to talk about the health of financial markets and the global economy.