Economy

Wednesday, August 4th 2010 - 01:21 UTC
Uruguay’s exports in seven months increase 23% and reach 3.9 billion USD

Uruguayan exports increased 22.78% during the first seven months of 2010 compared to the same period a year ago, according to Uruguay’s Union of Exporters. Sales totalled 3.9 billion US dollars while in the seven months of 2009, they reached 3.2 billion USD.
Tuesday, August 3rd 2010 - 06:05 UTC
What happens if Chilean maritime costs force cruises to cancel the Pacific leg?

A Uruguayan cruise industry expert has brought up an interesting debate about the whole business for South America if Chilean port and auxiliary services costs remain so high that they end convincing some of the cruise companies to drop the traditional Pacific and Chilean leg of the tours.
Tuesday, August 3rd 2010 - 00:49 UTC
Russia becomes Uruguay’s main client for beef in first half of 2010

The Russian Federation became at the end of the first half of the year, Uruguay’s main client for beef compensating weaker demand from the European Union and other important markets, according to the latest data from the country’s National Meat Institute, INAC.
Tuesday, August 3rd 2010 - 00:25 UTC
India and Argentina sign cooperation agreement in agriculture

India and Argentina signed in New Delhi on Monday a joint agreement for the development of technical and professional cooperation in the agricultural sector and to foster trade of plants and animal products between the two countries.
Tuesday, August 3rd 2010 - 00:12 UTC
Argentina puts off plans to float its first international bond since 2001

Argentina is drawing on central bank profits to meet financing needs, putting off plans to sell its first international bond since 2001 as yields tumble. The central bank’s board on July 29 approved a transfer of 3 billion pesos (762 million USD) from the bank’s 23.5 billion pesos in 2009 profits to the government, following a 1.5 billion peso transfer in February, spokesman Fernando Meanos said.
Saturday, July 31st 2010 - 19:59 UTC
Mercosur inter-trade forecasted to reach 41 billion USD this year

Trade among Mercosur full members Argentina, Brazil, Paraguay, Uruguay and Venezuela in the process of incorporation is forecasted to reach 41 billion US dollars said Brazil's ambassador to Argentina Enio Cordero. This is a significant leap from the 9 billion of 2002 and 4.5 billion in 1991 when the block was established.
Saturday, July 31st 2010 - 19:00 UTC
China overtakes Japan as world’s second largest economy, says Beijing

China has overtaken Japan to become the world's second-largest economy behind the United States, the country's chief currency regulator and vice-governor of the People's Bank of China (PBOC) said this week.
Saturday, July 31st 2010 - 05:35 UTC
US second quarter growth down to an annual 2.4%, from a previous 3.7%

United States economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department announced Friday. This compares with an annual rate of 3.7% in the previous quarter.
Saturday, July 31st 2010 - 05:30 UTC
World’s leading iron-ore producer and exporter moves into the copper business

Brazilian mining conglomerate Vale Rio Doce announced this week that it will make a public offer to acquire Paranapanema, the country’s largest copper smelter, as part of a bid to become one of the world’s leading producers of the red metal.
Saturday, July 31st 2010 - 05:26 UTC
Record unemployment in Spain reaches 20.09%, highest since 1997

Spain’s unemployment rate already the highest in the Euro region rose to the most in more than a decade in the second quarter: 20.09% up from 20.05% in the first quarter, according to the country’s National Statistics Institute. This is the highest since 1997.