Economy

• Wednesday, August 1st 2012 - 07:38 UTC

  Brazil will open social automatic cashiers for the exchange of foreign currency

  

  In anticipation of the 2014 World Cup and the 2016 Olympics, Brazil has decided to simplify foreign money exchange for residents and tourists through the use of specific automatic cashiers in pre-determined places.

• Wednesday, August 1st 2012 - 05:09 UTC

  Venezuela purchases 20 commercial aircraft from Brazil in a 900m dollars deal

  

  Venezuela signed on Tuesday an agreement to purchase 20 commercial aircraft from Brazil’s Embraer in an operation valued at 900 million dollars

• Tuesday, July 31st 2012 - 23:19 UTC

  With Venezuela Mercosur has become “a new pole of world power”

  

  Argentine President Cristina Fernández said on Tuesday during a press conference held at the Mercosur extraordinary summit in Brasilia, that Venezuela’s entry to the bloc “strengthens the entire region” and creates a “new pole of power” at world level.

• Tuesday, July 31st 2012 - 22:22 UTC

  Second risk rating agency upgrades Uruguay to investment grade

  

  Moody's Investor Service upgraded Uruguay's sovereign ratings from Ba1 to Baa3, following Standard & Poor's upgrade announced on April.

• Tuesday, July 31st 2012 - 11:20 UTC

  Uruguay’s citrus industry hit by frosts accumulates losses of 35m dollars

  

  Uruguay estimates that the citrus industry will experience losses of 35 million dollars because of the intense frosts. The 35 million includes 12 million dollars in lost salaries and contributions to social security.

• Tuesday, July 31st 2012 - 04:04 UTC

  Cristina Fernandez prepares another ‘independence day’ celebration next Friday

  

  Argentina is ready to cancel next Friday a bond issue which was handed out to residents with bank deposits victims of the so called “corralito” (paddock) in 2002 when the collapse of the Argentine economy and financial system.

• Tuesday, July 31st 2012 - 02:05 UTC

  Uruguay expects to plant a record area of soybeans this coming season

  

  The soybean area and crop of the next harvest in Uruguay is expected to establish a new record with an additional 10% acreage, totalling over a million hectares boosted by excellent international prices and good weather prospects, according to reports from local grain and oilseed operators.

• Tuesday, July 31st 2012 - 01:58 UTC

  Increase of non resident deposits in Uruguayan banks

  

  The number of bank accounts of non residents in Uruguay climbed 14% in June compared to a year ago, --6.769 new clients--, which is higher than the increase verified for the whole number of residents and non residents, up 2%, according to Uruguay’s central bank data.

• Tuesday, July 31st 2012 - 01:19 UTC

  Chavez after an energy alliance with Argentina and Brazil in the framework of Mercosur

  

  Venezuelan president Hugo Chavez announced he expected to sign an oil/gas alliance between Argentina’s YPF and PDVSA (Venezuelan Petroleum) when he meets with his peer Cristina Fernandez in Brasilia in the framework of the Mercosur extraordinary summit to officially incorporate the country as full member of the trade group.

• Monday, July 30th 2012 - 23:50 UTC

  Brazil’s development bank will disburse loans at a faster pace to prop economy

  

  The national bank for economic and social development, BNDES, Brazil's largest source of long-term credit for companies, is ready to disburse loans at a faster pace in the years ahead to prop the economy, the bank's top executive said on Monday.