Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, July 25th 2025 - 16:57 UTC

Economy

  • Saturday, January 11th 2014 - 06:57 UTC

    US Supreme Court agrees to consider Argentina litigation case with hedge funds

    A decision from the Supreme Court is expected by the end of June

    The US Supreme Court agreed on Friday to consider a dispute over subpoenas in a case stemming from long-running litigation over Argentina's obligations to bond investors in the wake of its default on 100 billion dollars in sovereign debt in 2002.

  • Saturday, January 11th 2014 - 06:49 UTC

    Brazil's inflation off target in 2013 and prospects in election year not encouraging

    Stubbornly high inflation poses a major challenge for Rousseff, who plans to run for re-election in October

    Brazilian consumer prices ended 2013 higher than expected at 5.91%, above the upper limit of the government target, after inflation surged in December, official statistics released Friday showed. The Brazilian Institute of Geography and Statistics (IBGE) said last month's inflation figure of 0.92% was the highest for December since 2002, and compared with 0.54% a month earlier.

  • Saturday, January 11th 2014 - 06:30 UTC

    Airlines operating in Venezuela have 3.3bn dollars trapped by currency controls

    Madrid based Air Europa has suspended ticket sales from Venezuela

    International airlines operating in Venezuela have 3.3 billion trapped because of currency controls, the International Air Transport Association, IATA, revealed. Airlines have to wait around 12 months for the government to convert their Bolivar earnings into dollars, with the time lag growing, according to the Venezuela Airline Association.

  • Friday, January 10th 2014 - 07:10 UTC

    The delayed Mercosur summit will have to address the EU new foreign aid policy

    The high middle-class countries such as most Mercosur members have been left out of the easy access to the European market

    When Mercosur finally holds its much delayed summit in Venezuela at the end of the month following two postponements (12 December and 17 January), besides its normal agenda of agreements and disagreements, it will have to address a new challenge, this time from the European Union which has redefined its development support policy, leaving all Mercosur members, except Paraguay out of its tariffs and market access benefits.

  • Friday, January 10th 2014 - 06:46 UTC

    Falklands oil industry will have its 'Made in USA' dock facility in Stanley harbor

    The location of the 400x100 feet floating dock would be to the east of FIPASS

    The Falkland Islands budding oil and gas industry advanced a further step this week when the Falklands' Planning and Building Committee gave planning permission to a temporary dock facility (TDF) in Stanley harbor that will provide logistics support to exploration drilling.

  • Friday, January 10th 2014 - 06:40 UTC

    Brazil treasury pays highest yield to launch new 10-year fixed-rate domestic bond

    Dilma Rousseff faces re-election this year and there are fears she might be unwilling to cut spending

    Brazil's Treasury on Thursday paid the highest yield ever to launch a new 10-year benchmark fixed-rate domestic bond. The Treasury said it sold two million NTN-F bonds maturing in January 2025, worth 1.64 billion Reais (683 million dollars), at a yield as high as 13.3899%. The bond is expected to become Brazil's new 10-year benchmark paper.

  • Thursday, January 9th 2014 - 06:59 UTC

    Most Fed members agreed on December's stimulus reduction, indicate minutes

    Bernanke is stepping down next February first

    Federal Reserve members mostly agreed about a reduction in the central bank's stimulus efforts in December, meeting minutes released Wednesday reveal. The central bank announced a $10bn a month reduction in its bond buying program at the end of its December meeting.

  • Thursday, January 9th 2014 - 06:43 UTC

    Exporters on high alert as strikes hit Chile’s ports once again

    Fruit Exporters Association President Ronald Bowen warned losses could reach 50 million dollars

    Stoppages spread across Chile as workers claim they are owed thousands of dollars in compensation agreed to in resolution to strikes last year. Fruit exports in Central Chile and copper shipments in the North have been stalled as workers from several major ports across the country have gone on strike, raising fears the export-oriented economy could see a repeat of last year's strikes which lasted three weeks and cost millions of dollars.

  • Thursday, January 9th 2014 - 06:35 UTC

    People living in Buenos Aires shanty towns increased 52% in ten years

    Some settlements have expanded their areas and most are growing upwards and are already in the fourth floor

    The number of people living in shanty towns or “misery villages” in Argentina and particularly in the capital Buenos Aires keeps increasing despite a decade of sustained growth at almost Chinese rates. According to data from the latest census of 2010, the number of people living in 'misery villages' in Buenos Aires was 163.587 compared to the 107.422 in 2001, with a 52% increase.

  • Wednesday, January 8th 2014 - 05:58 UTC

    Germany's Wintershall joins Patagonia's Vaca Muerta shale gas and oil rush

    Board members from Wintershall sign the terms of the contract with Neuquen province authorities

    Germany's Wintershall signed on Tuesday a farm-in contract with the Argentine Patagonia province of Neuquén to explore Vaca Muerta’s shale gas and oil field. Under the terms of the joint-venture agreement Wintershall together with Gas & Petroleo de Neuquen will explore and develop the Aguada Federal block and are committed to invest 80 million Euros.