Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, December 23rd 2024 - 10:24 UTC

Stories for March 2023

  • Tuesday, March 21st 2023 - 09:55 UTC

    Enslaved Paraguayan workers freed in Rio de Janeiro

    The 19 Paraguayans had been brought in blindfolded and were not aware that they were in Rio de Janeiro

    Brazil's Federal Police Monday freed 19 Paraguayan nationals who were working at a Rio de Janeiro clandestine cigarette factory in slave-like conditions, Agencia Brasil reported. The workers arrived in Brazil blindfolded and did not even know they were in the municipality of Duque de Caxias, in Baixada Fluminense.

  • Tuesday, March 21st 2023 - 09:51 UTC

    Guterres warns climate bomb ticking

    “Our world needs climate action on all fronts,” Guterres insisted

    United Nations Secretary-General António Guterres said Monday in a recorded appearance before a UN Intergovernmental Panel on Climate Change (IPCC) that in order to avoid a climate catastrophe, carbon emissions must be halved by 2030 because “the climate bomb is ticking.”

  • Tuesday, March 21st 2023 - 09:47 UTC

    Argentine electricity company under intervention for 180 days

    Edesur was deficient in the service and it was still moving on with its sale plans, Massa explained

    Following seemingly endless power cuts in the Buenos Aires area, Federal Economy Minister Sergio Massa ordered the intervention of suppliers Edesur and appointed Jorge Ferraresi as the company's new controller for a period of 180 days.

  • Tuesday, March 21st 2023 - 08:12 UTC

    Xi Jinping and Putin strengthen ties in Moscow

    Russia and China have “similar goals in future aspirations,” Xi told Putin

    Russian President Vladimir Putin and his Chinese counterpart Xi Jinping held an informal meeting Monday in Moscow. The Chinese leader is on a state visit.

  • Monday, March 20th 2023 - 16:08 UTC

    It’s the Banking Regulations, Stupid

    Silicon Valley Bank had US$ 200 billion in assets, US$ 86 billion of which was in residential mortgage-backed securities that are not due for at least ten years

    By Antonio Floglia (*), LONDON – Rather than developing a robust understanding of the errors that led to the 2008 global financial crisis, politicians and the public demanded that supervisory authorities simply double down on regulation. So, that is what they did, and we are now seeing the results with the sudden collapse of Silicon Valley Bank.

  • Monday, March 20th 2023 - 16:05 UTC

    Network of leading Western central banks ready to inject the necessary dollars liquidity

    Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, and the Swiss National Bank announced the coordinated action

    Leading central banks of the West announced on Sunday a coordinated action to provide liquidity to the financial system through the US swap liquidity line arrangements. The statement was signed by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell and becomes effective Monday 20 March.

  • Monday, March 20th 2023 - 16:04 UTC

    Extreme surgery: Swiss government and UBS take over Credt Suisse

    Swiss President Alain Berset said that the Swiss Federal Council welcomed the takeover as it was the “best solution” to restore and strengthen market confidence

    The Swiss National Bank said at a press conference in Bern on Sunday evening that UBS would be taking over embattled lender Credit Suisse. The deal will see UBS acquire Credit Suisse for 3 billion Swiss francs (US$ 3.23 billion).

  • Monday, March 20th 2023 - 15:59 UTC

    Moscow extends 60 days Black Sea Grains exports; Putin insists West sanctions on Russian exports must also be lifted

    “The Black Sea Grain Initiative, signed in Istanbul on 22 July 2022, has been extended,” the UN said in a statement

    The United Nations announced on Saturday that a deal allowing for the safe export of grain from Ukrainian reports had been extended. The UN did not specify the length of the renewal, while Russia and Ukraine issued conflicting statements on the matter.

  • Monday, March 20th 2023 - 15:54 UTC

    Antarctic sea ice hitting historic lows

    Scientists need more time to affirm whether this phenomenon is due to climate change or not

    A website specialized in weather news published this past weekend a report stating that Antarctic sea ice reached another historic low after a trend of ice loss in recent years seems to have come to stay because while Antarctic sea ice shows an almost flat trend, the minima appear to have gained on that trend.

  • Monday, March 20th 2023 - 15:50 UTC

    IDB forecasts gloomy 2023 for Latin America, Caribbean

    Goldfajn spoke of “overlapping crises”

    The Interamerican Development Bank (IDB) has issued a report forecasting growth for the region in 2023 will barely stand at 1%, much lower than similar studies from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Monetary Fund (IMF).