Economy

Thursday, January 16th 2014 - 09:04 UTC
Open pit mining project in Uruguay questioned in Parliament and by environmentalists

A major open pit mining project in Uruguay to extract and export magnetite (a kind of iron ore) and which the government of President Jose Mujica plans to instrument this month has been exposed to a battery of criticism because the administration refuses to show the terms of the contract and farm groups argue there is no final environment impact assessment study.
Wednesday, January 15th 2014 - 19:29 UTC
GM will pay its first dividend since 2008; sales jump in China and United States

US carmaker General Motors (GM) said it will resume dividend payments, capping a remarkable turnaround since its 2009 bailout by the US government. It will pay a dividend of 30 cents per share, the first since July 2008.
Wednesday, January 15th 2014 - 19:24 UTC
Uruguay among the world's ten countries with highest inflation

Uruguay is ranked among the world's ten countries with the highest inflation, having climbed from position 15 to 10 last year, only surpassed in Latin America by Venezuela and Argentina. Last year Uruguay ended with an inflation of 8.52%, well above the 4% to 6% target, and according to Central bank officials “it remains the main challenge for the country's economic policy”.
Wednesday, January 15th 2014 - 18:50 UTC
Argentine annual inflation: 28.38%, according to the Congressional index

Argentine annual inflation for 2013 was 28.38% after soaring 3.38% in the month of December alone, according to the Congressional consumer price index, which is a survey that takes the average of several consultancy firms.
Wednesday, January 15th 2014 - 07:11 UTC
New EPA rule requires chemical disclosure for offshore fracking

$Governor Jerry Brown does not support a ban on fracking and insists the new law is rigorous.$

By. Nick Cunningham of Oilprice.com - The U.S. Environmental Protection Agency published a rule on January 9, 2014 requiring oil and gas companies using hydraulic fracturing off the coast of California to disclose the chemicals they discharge into the ocean. Oil and gas companies have been fracking offshore California for perhaps as long as two decades, but they largely flew under the radar until recently.
Wednesday, January 15th 2014 - 06:50 UTC
Argentine case of possible money laundering with mutilated US dollar bills

US federal agents who seized more than 4 million dollars in US banknotes shipped from a famous money exchange house in Buenos Aires, Alfredo Piano, uncovered what they claimed was a cache of dirty money. Piano, 82, said many of the 100 dollar-bills were filthy and others had been ravaged by fire, water and even dogs.
Tuesday, January 14th 2014 - 23:54 UTC
US congress negotiating spending bill to avoid another shutdown of government

Negotiators in the US Congress unveiled a 1.1 trillion dollars spending bill that aims to prevent another government shutdown while boosting funding levels slightly for military and domestic programs - but not for “Obamacare” health reforms.
Tuesday, January 14th 2014 - 18:34 UTC
Falklands fisheries will come under attack from Argentina so as to 'strangle the Islands'' economy

Argentina is preparing a battery of instruments to attack the Falklands fisheries and involved fishing companies with the purpose of 'strangling the economy' of the Islands thus forcing the UK to sit and dialogue on South Atlantic Islands sovereignty, according to a piece by La Nacion columnist Martín Dinatale.
Tuesday, January 14th 2014 - 07:50 UTC
China becomes the leading market for Uruguayan meat exports

Uruguay's meat exports slid 6.5% in volume during 2013 compared to the previous year, but the big news is that China has become the main client for beef, followed by Nafta countries, (US, Canada and Mexico), according to the latest release from the country's National Meat Institute, INAC.
Tuesday, January 14th 2014 - 07:32 UTC
Mercosur and EU to exchange tariff reduction proposals in early February

Paraguay's Foreign minister Eladio Loizaga said on Monday that at the latest in early February Mercosur and the European Union would be exchanging their tariff reduction proposals for the much delayed free trade agreement. The deadline originally was December but it was delayed on request from Brussels.