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Montevideo, May 18th 2024 - 03:06 UTC

Stories for May 9th 2018

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Wednesday, May 9th 2018 - 08:44 UTC

    Brazilian ex chief Justice will not run for the presidency in October

    That is an essential selling point in this election, the first since a massive legal probe revealed stunning levels of political graft. Scores of powerful businessmen and politicians have been jailed,

    Joaquim Barbosa, a former chief justice on Brazil's Supreme Court with anti-corruption credentials, said on Tuesday he would not run for the presidency in October, despite a growing clamor for his candidacy. Barbosa, the first and only black member of the high court, had in recent weeks positioned himself as a potential center-left candidate. He was attractive to many because of his clean image and background as a judge who battled corruption.

  • Wednesday, May 9th 2018 - 08:39 UTC

    Despite Trump, Europe, Russia and China committed to the Iran nuclear deal

    UK, France and Germany say they “will work with all remaining parties” and urged the US not to obstruct its implementation of the Iran nuclear deal

    Western powers, Russia and China remain committed to the Iran nuclear deal - after the US announced it was withdrawing from the agreement. The UK, France and Germany say they “will work with all remaining parties” and urged the US not to obstruct its implementation and the other signatories to the 2015 deal - Russia and China - have also stressed their continuing support.

  • Wednesday, May 9th 2018 - 08:24 UTC

    South Georgia declared rat-free: four year successful program to eradicate invasive rodents

    Over the winter, the final examination of the BOT was carried out with the help of sniffer terriers, which confirmed the extinction of the rodents on the island.

    A Dundee-based charity has succeeded in its epic mission to declare a sub-Antarctic island rodent-free for the first time since humans arrived more than 200 years ago. In 2011, the South Georgia Heritage Trust started the world’s largest project to remove the invasive rats and mice to save South Georgia’s wildlife, including threatened pipits and pintails.

  • Wednesday, May 9th 2018 - 08:19 UTC

    Brazilian farmers optimism sky high with increasing grain prices and cheap credit

    Brazil’s past two soy crops set all-time records with farmers likely to boost investment and improve efficiency.

    Farm equipment manufacturers in Brazil are expecting g on strong sales this year, boosted by a second straight bumper soy crop and rising grain prices, which will more than offset weakness in the sugar cane sector, they said at a major trade show. Some machinery producers are forecasting sales growth as high as 8% in 2018 as farmers’ confidence rises and record-low interest rates encourage them to borrow and invest.

  • Wednesday, May 9th 2018 - 07:32 UTC

    Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

    “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Macri said in a televised address

    Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.

  • Wednesday, May 9th 2018 - 07:16 UTC

    UK appoints Trade Commissioner for Latin America and the Caribbean

    “With the IMF predicting that 90% of growth will come from outside the EU, we need to look at where the emerging markets are”, said Dr. Liam Fox.

    The United Kingdom's International Trade Secretary, Dr Liam Fox, named a new Trade Commissioner to champion British trade with Latin America and the Caribbean, as the UK prepares for future trade agreements with countries around the world.

  • Wednesday, May 9th 2018 - 07:10 UTC

    Latin American (and global) currencies hit by strong dollar and Trump's policies

    The market’s attention was on President Donald Trump’s decision to withdraw from the international nuclear agreement with Iran, a deal which eased economic

    The dollar hovered near a four-month high on Tuesday, continuing to draw support from higher Treasury yields and upbeat prospects for the U.S. economy, leaving its major rivals such as the Euro struggling and other Latin American currencies including the Argentine peso down sharply.