Economy

Tuesday, November 26th 2013 - 08:47 UTC
YPF and Repsol reach an 'agreement in principle' with Mexican mediation

The dispute between the Argentine government and Repsol over the seizure of a 51% stake in petroleum company YPF has shown some signs of cooling, with the Ministry of Economy announcing on Monday that an “agreement in principle” for compensating the Spanish corporation had been reached.
Tuesday, November 26th 2013 - 08:41 UTC
Uruguay to benefit from agreement reached by Iran with world powers

The agreement reached by the world powers with Iran regarding its nuclear plans could have a positive impact for Uruguay, (and the region) since the regime of Teheran has been for years a strong client of Uruguayan rice and other products.
Monday, November 25th 2013 - 15:55 UTC
Operational costs in Argentina and Brazil threaten the South Atlantic cruise industry

The high operational costs in the ports of the region is having a negative impact for the cruise industry and some of the companies have already withdrawn vessels from the South Atlantic routes, warned Mediterranean Shipping Company, MSC and Royal Caribbean during a regional conference on the industry sponsored by Uruguay's Ministry of Tourism.
Monday, November 25th 2013 - 07:39 UTC
Jaguar-Land Rover to build manufacturing plant in Brazil

Jaguar Land Rover plans to build a 500 million dollars manufacturing plant in Brazil, the O Globo newspaper reported on Sunday. The daily wrote that the Rio de Janeiro factory will be the company's second production facility outside Britain, in addition to one China. It also has an assembly plant in India.
Saturday, November 23rd 2013 - 06:40 UTC
Capitanich announces 50% tax on luxury goods and different rates for utility services

Argentine Cabinet Chief Jorge Capitanich announced on Friday the government sent a bill to Congress raising taxes on luxury goods such as premium model cars, recreation boats, motorbikes and aircraft, and underlined that ”those who want to buy luxury goods will have to pay more,” he warned.
Saturday, November 23rd 2013 - 06:26 UTC
Minutes say US Fed plans to begin trimming stimulus in “the coming months”

The US Federal Reserve officials said they plan to begin trimming the central bank's stimulus efforts in “the coming months”. They believe that the US recovery is strengthening, according to minutes their October meeting.
Friday, November 22nd 2013 - 03:46 UTC
“Argentina is on fire because of inflation” says leading businessman

Fiat Argentina CEO Cristiano Rattazzi said that “Argentina is on fire because of inflation” and called on the newly appointed cabinet chief Jorge Capitanich and Economy minister Axel Kicillof “to work hard to bring inflation down”.
Friday, November 22nd 2013 - 03:43 UTC
'Quality service over profit', Aerolineas Argentinas target, said CEO Recalde

Argentina's flag carrier Aerolíneas Argentinas CEO Mariano Recalde said that the company's goal, as requested by president Cristina Fernández, was to provide a quality service over profit.
Friday, November 22nd 2013 - 03:21 UTC
Janet Yellen ready to become the most powerful woman in world finance

The United States Senate Banking Committee approved on Thursday Janet Yellen's nomination to become the first woman to lead the Federal Reserve, sending it to the full Senate for a final vote. If she is confirmed, as is widely expected, the current No. 2 at the central bank will replace its chairman, Ben Bernanke, when his term expires on January 31, making her the most powerful woman in world finance.
Friday, November 22nd 2013 - 02:02 UTC
Morales orders double Christmas bonus for Bolivia's 300.000 public employees

In what seems a partial contagion of what is happening in Venezuela, Bolivian President Evo Morales announced that he will double the Christmas bonus for Bolivia’s public employees which will be the equivalent of two months extra salary.