Economy

• Wednesday, June 5th 2013 - 08:16 UTC

  Fearing lesser global liquidity, Brazil eliminates tax on foreign capital inflows

  

  Brazil will scrap a tax on foreign investments in local debt, a surprise move that could help stop a sharp depreciation of the country's currency which lost 7.6% in the past three months and that threatens to stoke already high inflation in Latin America's largest economy.

• Wednesday, June 5th 2013 - 08:05 UTC

  Inflation in Uruguay falls for the fourth month running but still above target

  

  Consumer prices in Uruguay during May increased 0.32% and 8.06% in the last twelve months which is still above the annual top target range of 6%, but on the positive side for the fourth month running inflation has been decreasing, according to the latest release from the stats office INE.

• Tuesday, June 4th 2013 - 19:07 UTC

  Falklands’ oil industry has come of age moving from exploration to production stage, confirms Governor Haywood

  

  For the first time the Falkland Islands have underlined the significance of the hydrocarbons industry as a fully integrated sector of the local economy as it effectively and successfully moves from the exploration to the exploitation stage with first shipments scheduled for 2017. At the same time it regrets that South American companies are not participating of the logistical opportunities because of Argentine interference.

• Tuesday, June 4th 2013 - 08:27 UTC

  Paraguayan inflation 0.2% in five months; economy poised to expand 13%

  

  Consumer prices in Paraguay dropped 0.3% during May which brings the accumulated five month inflation to 0.2%, reported the Central bank. The percentage is considerably lower than May a year ago when it reached 0.4% and had accumulated 3.2%. Twelve month inflation in May reached 0.9% which compares favourably with the 3.8% of a year ago

• Tuesday, June 4th 2013 - 05:07 UTC

  Uruguayan forestry company buys turbines for a 90 MW wind farm

  

  Denmark’s Vestas Wind Systems wind-turbine maker received a 90-megawatt turbine order from Compañia Forestal Uruguaya SA for the Pintado power plant in south centre Uruguay. The 30 3-megawatt turbines project will be serviced by the company for 15 years and the farm is expected to be operational by the second quarter of next year.

• Tuesday, June 4th 2013 - 05:05 UTC

  Brazil provides billions to fund renewable-power and bio-fuel technology

  

  Brazil will pour 6.1 billion Reais (2.85 billion dollar) to fund renewable-power and bio-fuel technology research, accelerating its efforts to modernize its energy industry and shift away from a commodity-export based economy.

• Monday, June 3rd 2013 - 05:35 UTC

  Argentina and Repsol in another clash: this time over board members payments

  

  Argentina's nationalized energy company YPF will sue the head of Repsol SA over accusations that YPF's board members were overpaid when the Spanish oil major held a majority stake in the company, the government said.

• Monday, June 3rd 2013 - 05:30 UTC

  In four months Uruguay exports fell faster than imports: billion dollar deficit

  

  Uruguay’s trade deficit climbed to over a billion dollars in the first four months of the year compared to 975 million dollars in the same period a year ago. So far this year the fall in exports has been stronger than that of imports, which has led to the 1.045 billion dollars deficit according to the latest stats from the Central bank.

• Monday, June 3rd 2013 - 05:22 UTC

  Despite Falklands, more than 100.000 Argentine tourists visited Britain

  

  Argentine tourists have staged a British invasion, with record numbers flying in to the UK in the last year, according to an article by Matt Chorley published in the Daily Mail. The influx of more than 100.000 visitors, up more than a quarter year-on-year, comes despite renewed tensions between the two countries over the status of the Falkland Islands.

• Monday, June 3rd 2013 - 05:17 UTC

  Uruguay ruling coalition warned about budget deficit and loss of labour productivity

  

  Uruguayan economic officials have warned the ruling coalition Broad Front about the regional risk-situation in complex Argentina and stalled Brazil, and its influence on Uruguay which needs to lower its budget deficit and improve labour productivity and competitiveness.