Economy

Tuesday, July 16th 2013 - 20:10 UTC
Total plans to spud first exploratory well in Uruguay’s continental shelf in 2015

The French oil and gas company Total confirmed that at the beginning of 2015 it will spud its first exploratory well in deep waters of the Uruguayan continental shelf, according to Juan Gomez, one of directors from the country’s fuel company Ancap.
Tuesday, July 16th 2013 - 17:15 UTC
Uruguay presses for EU/Mercosur talks fearing loss of tariff benefits

Uruguay needs a quick resumption of Mercosur/European Union trade and cooperation talks because at the end of the year expire a number of tariff benefits for Uruguayan exports, revealed Foreign minister Luis Almagro.
Tuesday, July 16th 2013 - 17:10 UTC
Argentina has dealt a ‘mortal blow’ to Mercosur that has become ‘a political forum’

Speaking for a Brazilian business association in Sao Paulo, Rubén Barbosa accused the government of Argentina of dealing a ‘mortal blow’ to Mercosur, the regional grouping that was originally focused on economic integration and has since become a political forum for the region’s leaders as was again evident during the last summit in Montevideo.
Tuesday, July 16th 2013 - 05:40 UTC
Paraguay debates controversial 10% levy on grains and soybean exports

The Paraguayan government said that the recently Senate approved controversial 10% levy on all exports of oilseeds and grains is “non applicable’ since it would need an amendment of the Customs Code, and recommends the implementation of alternative taxes.
Tuesday, July 16th 2013 - 03:58 UTC
China confirms economy is slowing down after second quarter weaker expansion

China's economic growth slowed in the April to June period, the second straight quarter of weaker expansion. The world's second biggest economy grew by 7.5% compared to the previous year, down from 7.7% in the January to March period, data showed. The figures were in line with analyst expectations.
Monday, July 15th 2013 - 16:22 UTC
Uruguay files in SEC plans to sell up to 5 billion dollars in securities

Uruguay filed a shelf registration with the US Securities and Exchange committee to sell up to 5 billion in US denominated securities. Economy minister Fernando Lorenzo said the filing will allow the government to issue debt when it is convenient for the country and market conditions are favourable.
Sunday, July 14th 2013 - 23:53 UTC
Argentina litigation with hedge funds; ‘US could end siding with Buenos Aires’ says Washington Post

The United States Justice, Treasure and State Department officials met on Friday with lawyers both from Argentina and hedge funds that refused to accept the administrations of presidents Nestor Kirchner and Cristina Fernandez debt swaps, The Washington Post reported on Saturday.
Sunday, July 14th 2013 - 23:46 UTC
Where’s my pizza complain Argentines short of tomato and flour?

Argentines have been asked to eat fewer tomatoes. The government called on consumers on Friday to try to stay away from the beloved food for at least two months because of an expected shortage caused by seasonal reasons including crop rotations.
Sunday, July 14th 2013 - 11:05 UTC
Falklands growing meat industry exposed to international market volatility

Falkland Islands meat industry is suffering the pains of growth and of international markets’ volatility, according to the latest number of sheep and cattle processed in the EU licensed local Sand Bay abattoir. However the quality and quantity of lambs produced continues to advance.
Saturday, July 13th 2013 - 13:55 UTC
UK confirms policy of no support for World Bank and IADB loans to Argentina

UK Secretary of State for International Development, Justine Greening has confirmed that due to recent actions by the Argentine government she is no longer confident that further investments in Argentina would be consistent with the objectives she laid out in February this year, in an answer to a House of Commons Written Parliamentary Question.