Economy

Tuesday, May 28th 2013 - 21:39 UTC
Japanese oil company to explore Uruguayan offshore platform

The Uruguayan offshore platform continues to advance its global positioning and increase its economic value as the Irish firm Tullow Oil, which is currently conducting exploration work in Block 15 of the Uruguayan offshore platform, sold 30% of its stake in its exploration contract to leading Japanese oil company Inpex.
Tuesday, May 28th 2013 - 07:01 UTC
Biden in Colombia praises peace talks and success of bilateral trade agreement

In his first visit to Colombia in more than a decade, US Vice President Joe Biden said on Monday that he is pleased security concerns can now take a back seat to trade and economic issues in talks with Washington’s long-time ally. Biden also praised President Juan Manuel Santos for helping lead Latin America toward a “middle class, democratic and secure” future.
Tuesday, May 28th 2013 - 06:27 UTC
Further drop in Latam average regional urban unemployment, says UN agency

The average regional urban unemployment rate could drop by up to 0.2 percentage points to stand between 6.4% and 6.2% in 2013, the lowest rate in recent decades, according to a new report from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO).
Tuesday, May 28th 2013 - 03:07 UTC
Argentina and Brazil ‘fear’ a greater integration with China, says Mujica

Uruguayan president Jose Mujica currently in Beijing on an official visit, underlined the significance of China in trade and investments fro South America, but also admitted there is some ‘fear’ mainly from Argentina and Brazil about a greater integration and dependency from the Asian giant.
Tuesday, May 28th 2013 - 00:03 UTC
Venezuelans bishops warn government that there is a shortage of mass wine and hosts

Catholic News Agency reports that the serious food shortage in Venezuela could lead to a lack of wine and hosts for the celebration of Mass. Reporter Macky Arenas Arenas explained that the shortage in the country is due to “the lack of raw materials.”
Monday, May 27th 2013 - 08:22 UTC
Brazil’s April current account deficit a new record pushed by negative trade balance

Brazil posted another hefty current account deficit in April as its traditional trade surplus has turned into a deficit this year and foreign companies are repatriating more of their profits, according to central bank data.
Monday, May 27th 2013 - 05:00 UTC
Argentina’s industrial production up in April, but down in four months of 2013

Argentina's April industrial production rose 1.7% over the same month a year earlier with a big jump in automobile output and more modest gains in the production of building materials, government data showed on Friday.
Monday, May 27th 2013 - 02:41 UTC
Brazil cancels 900 million dollars of African countries debt

Brazil has announced that it will cancel or restructure almost 900m dollars worth of debt with Africa. Oil- and gas-rich Congo-Brazzaville, Tanzania and Zambia are among the 12 African countries to benefit. The move is seen as an effort to boost economic ties between the world's seventh largest economy and the African continent.
Saturday, May 25th 2013 - 05:11 UTC
Brazil’s employment rate remains stable but job creation slowed in recent months

Brazil's jobless rate rose slightly in April for the fourth straight month but remained near record lows, suggesting that tight labour conditions bolstered a gradual recovery and fed into inflation, statistics agency IBGE said this week.
Friday, May 24th 2013 - 07:50 UTC
Pacific Alliance agrees to eliminate tariffs for 90% of goods beginning July

The Alliance of the Pacific bloc that includes Colombia, Mexico, Peru and Chile on Thursday agreed to eliminate tariffs on most goods to promote free trade between the countries and increase exports to Asia.