Economy

Wednesday, January 8th 2014 - 05:39 UTC
IDB loans, guarantees and grants totaled nearly 14bn dollars in 2013

According to preliminary data, in 2013 the Inter-American Development Bank, IDB, approved 167 financing packages worth some 14 billion dollars, a figure surpassed only by that of 2009, when the Bank´s financing hit a 15.9bn in response to the global economic crisis.
Wednesday, January 8th 2014 - 05:34 UTC
When talking fuel, Mexico and Argentina the better off; Colombia and Uruguay bottom of the list

Taking as reference the ratio between the average salary and the price of gasoline in six Latam countries, Mexican and Argentine consumers are the better off when it comes to filling up the tank while for Uruguay and Colombia the ratio is the least favorable.
Wednesday, January 8th 2014 - 05:28 UTC
Record car sale in Argentina in 2013, but 2014 is full of uncertainties because of new taxes

The registry of new cars in Argentina soared 13.5% last year establishing a record of 955.203 vehicles, compared to 2012, and also above the 860.000 units of 2011, which was the standing record, according to the Argentine association of automobile dealers, ACARA.
Wednesday, January 8th 2014 - 05:00 UTC
US dollar climbs to new record in Argentina: 10.90 Pesos

The newly appointed Argentine Central bank chairman Juan Carlos Fábrega strategy to make the money exchange markets converge does not seem to be working: on Tuesday the 'blue' or parallel dollar soared to a new record, 10.85 and 10.90 Pesos, while the gap with the official rate again climbed to almost 60%.
Tuesday, January 7th 2014 - 23:28 UTC
JP Morgan will pay 1.7bn dollars penalty related to Bernard Madoff's fraud

JPMorgan Chase & Co will pay a 1.7 billion dollars penalty to settle charges by US federal authorities that the bank failed to report suspicious activity relating to Bernard Madoff's Ponzi scheme.
Tuesday, January 7th 2014 - 06:09 UTC
Main threat to world economy in 2014 is not the Euro-zone but China, says Soros

George Soros says stop worrying about the Euro-zone and look at the slower growth in China. The hedge fund boss, who built his fortune betting on the world’s money markets, is concerned that twenty years of rapid growth is about to run out of steam.
Tuesday, January 7th 2014 - 06:05 UTC
For second year running Uruguay manages deflation in December, keeps inflation in one digit

Uruguay again managed a December with deflation, (as happened exactly a year ago) with the consumer prices index down 0.72%, helping to bring 2013 inflation to 8.52%, according to the official stats office, INE. This is the sixth year in the last ten that Uruguay despite an unprecedented decade long growth-boom and abundant revenue overshoots its inflation target.
Tuesday, January 7th 2014 - 05:58 UTC
Yellen confirmed as next Federal Reserve chairperson: Senate votes 56-26

Janet Yellen, a key force behind the Federal Reserve's unprecedented and controversial efforts to boost the US economy, was confirmed on Monday by the Senate to lead the central bank just as it begins to unwind that stimulus.
Monday, January 6th 2014 - 19:42 UTC
Uruguayan minister says trade relations with Argentina “will never be the same”

Industry, Energy and Mining Minister, Roberto Kreimerman, said Uruguay would try to settle disputes with Argentina in order to reestablish trade relations, but he also recognized Uruguay’s relationship with Argentina 'will never be the same'. The minister revealed that 32 million dollars of Uruguayan exports are blocked at Argentine Customs.
Sunday, January 5th 2014 - 13:07 UTC
Falklands looks to South America and Scotland to service its oil industry development

Successful trade missions to Uruguay and Chile and the growing support and know-how links with Scotland for the development of the Falkland Islands oil and gas industry were mentioned as some of the 2013 highlights by Roger Spink, president of the Falklands Chamber of Commerce in his Christmas speech.