Economy

• Monday, May 20th 2013 - 07:09 UTC

  Pope Francis and Merkel talk economics: ‘rules of the social market have not been observed”

  

  German Chancellor Angela Merkel met Pope Francis and, apparently responding to his criticism of a heartless “dictatorship of the economy” and the “cult of money”, called for stronger regulation of financial markets.

• Monday, May 20th 2013 - 07:03 UTC

  Uruguay satisfied with the latest cruise season, but there could be difficulties ahead

  

  The Uruguayan 2012/13 cruise season experienced a 10% increase in the number of calls to the ports of Montevideo and Punta del Este totalling 240 and approximately 400.000 visitors between passengers and crew members.

• Saturday, May 18th 2013 - 06:53 UTC

  Venezuelan oil monopoly in joint ventures with Chevron and China Petroleum

  

  PDVSA, Venezuela’s government oil and gas giant will allow joint ventures with China National Petroleum Corp. and Chevron Corp. to manage 6 billion dollars in loans designed to revert oil output declines, said a PDVSA official.

• Saturday, May 18th 2013 - 06:29 UTC

  Economic activity in Argentina expanded 2.6% during March, says Indec

  

  Argentina's economic activity expanded 2.6% in March from a year earlier and 0.7% over February, the national statistics institute Indec said on Friday. Accumulated growth in the 12 months through March was 1.3%, down from 1.9% in full-year 2012.

• Saturday, May 18th 2013 - 03:35 UTC

  “Blue” dollar in Argentina picks up in last day of trading and reaches 8.95 Pesos

  

  In the last business day of the week in Buenos Aires, the parallel market or ‘blue’ dollar rose to 8.95 Pesos (selling price) after its declining tendency during the week, while the official rate ended steady at exchange houses at 5.245 Pesos (selling price). The gap between the two markets stands at over 70%.

• Saturday, May 18th 2013 - 03:04 UTC

  Chile confirms its commitment to the cruise industry at the Convention in Valaparaiso

  

  Chilean officials, led by Felix de Vicente Minister of Economy, Development and Tourism, joined senior cruise line executives, port and destination leaders, tour operators, travel agents and suppliers for a robust Seatrade Latin America Cruise Convention in Valparaiso, Chile.

• Saturday, May 18th 2013 - 01:11 UTC

  UK attends with 28 companies the largest healthcare exhibition in Sao Paulo

  

  UK Government Minister Ken Clarke is leading the UK's largest ever Healthcare Technology and Life Sciences delegation to Brazil. Twenty eight companies will travel to Sao Paulo to attend Hospitalar (21 – 24 May), the largest healthcare exhibition in South America, which is expecting to attract around 90,000 visitors – as well as taking part in the trade mission.

• Friday, May 17th 2013 - 23:02 UTC

  Chile anticipates mild slowdown after years of strong growth

  

  Chile's economy is entering a mild slowdown phase after years of strong growth said Finance Minister Felipe Larrain on Friday. Chile has been expanding at about 5.8% on average for the past three years despite global economic woes while maintaining enviably low inflation and jobless rates.

• Friday, May 17th 2013 - 06:51 UTC

  Argentina’s ‘autarkic project’ worsens bilateral relations and multiplies problems

  

  In an interview with the Spanish government news agency EFE, Uruguayan President José “Pepe” Mujica said Argentina’s economic “autarkic project” “worsens” bilateral ties and “multiplies” trade troubles. Still, he ruled out pressures on Buenos Aires; “they won’t work,” he insisted.

• Friday, May 17th 2013 - 06:46 UTC

  Argentine whitewash bill turning into ugly electoral debate

  

  Argentina’s whitewashing bill or more modestly ‘tax amnesty’ has joined the political debate of the coming October mid-term elections. The tax revenue bureau or AFIP confirmed taxpayers’ “legitimate externalization right” “will not be affected” even in the “hypothetical case that the opposition manages to rally a majority parliamentary stance” after October’s legislative elections.