Economy

• Saturday, April 2nd 2011 - 06:53 UTC

  The delicate balance of ‘cooperation’ and ‘competition’ between China and Brazil

  

  Brazilian president Dilma Rousseff and her Chinese peer Hu Jintao will address the Libyan crisis and other issues related to the Chinese currency, Yuan, which has Brazilian manufacturers most concerned, anticipated the Brazilian Foreign Affairs ministry.

• Saturday, April 2nd 2011 - 06:39 UTC

  Nasdaq and ICE bid for New York Stock Exchange Euronext

  

  US exchanges Nasdaq and ICE have mounted a 11.3 billion US dollars bid for NYSE Euronext, topping a previous offer from Deutsche Boerse. The bid compares with Deutsche Boerse's offer of 10.2bn.

• Friday, April 1st 2011 - 17:53 UTC

  Uruguay’s fiscal deficit up in February equivalent to 1.4% of GDP

  

  Uruguay’s fiscal deficit in February increased GDP 0.3 percentage points over the previous month and reached 1.4% of GDP according to the Economy Ministry. In nominal terms the overall public sector deficit (including regional governments and the National Insurance bank) was 453 million US dollars, 20% higher than in January.

• Friday, April 1st 2011 - 17:51 UTC

  Uruguay’s government debt up 5.9% in 2010 but down to 57.9% of GDP

  

  Uruguay’s government debt increased both in gross and net terms in 2010, although at a slower rate than in 2009. Overall the debt increased 5.9% (1.3 billion US dollars) totalling 23.185 billion USD which is equivalent to 57.6% of GDP, according to the latest release from the central bank.

• Friday, April 1st 2011 - 01:54 UTC

  Mujica: we need Venezuela in Mercosur “to help balance the group”

  

  Uruguayan president Jose Mujica promised his peer Hugo Chavez he would press strongly for Venezuela’s incorporation as full member of Mercosur because this will help balance the group.

• Friday, April 1st 2011 - 01:37 UTC

  In spite of Mercosur “unfulfilled agenda”, there will be trade agreement with EU

  

  Uruguay’s Vice-president Danilo Astori said that Mercosur “unfulfilled agenda” will not affect the chances of reaching an agreement with the European Union which if finally achieved will also help the “block to work better”.

• Friday, April 1st 2011 - 00:25 UTC

  Brazil’s central bank just manages to slow the Real currency advance

  

  Brazil’s Real retreated from the highest level since August 2008 after the central bank intervened five times Thursday to slow the currency’s advance. The Real fell 0.2% to 1.6318 per dollar, from 1.6288 Wednesday.

• Friday, April 1st 2011 - 00:03 UTC

  G20 leaders closer on agreeing greater global role for Chinese currency

  

  G20 leaders have moved towards agreeing that China's currency should have a wider role in global finance. The G20 is to study whether to include the Chinese Yuan within the basket of currencies that make up the IMF Special Drawing Right.

• Thursday, March 31st 2011 - 14:11 UTC

  Uruguay’s wholesale prices soared 10.82% in the first quarter of 2011

  

  Uruguay’s wholesale prices soared in March for the third month running reaching 4.42%, the highest since 2010, reports the country’s Statistics Institute, INE.

• Thursday, March 31st 2011 - 14:06 UTC

  Foreign direct investment in Uruguay recovers in 2010: up 28% from 2009

  

  Foreign direct investment in Uruguay reached 1.6 billion US dollars in 2010, up 28% from 2009, according to the fourth quarter Balance of Payments report released this week by the country’s Central bank.