Economy

Thursday, May 4th 2023 - 10:40 UTC
“Argentina extremely cheap,” says Uruguayan president

Uruguayan President Luis Lacalle Pou said his country has a problem with prices in Argentine being so low due to a favorable exchange rate that people cross the border to do their shopping.
Thursday, May 4th 2023 - 10:10 UTC
US Fed raises interest rate yet again

The US Federal Reserve Wednesday upped its benchmark interest rate by a quarter point to between 5% and 5.25%, its highest level in 16 years, which further tightened credit for businesses and consumers, it was announced.
Wednesday, May 3rd 2023 - 11:55 UTC
Lula promises to help his “friend” Alberto Fernández

Argentine President Alberto Fernández Tuesday thanked his Brazilian colleague Luiz Inácio Lula da Silva for the latter's commitment to helping Argentine overcome the current crisis: “I celebrate the explicit support that Lula has given us as a country and as a government,” Fernández said after the meeting at the Alvorada Palace. He also highlighted Lula's pledge to strengthen Brazilian exports and support negotiations with the International Monetary Fund (IMF).
Wednesday, May 3rd 2023 - 11:23 UTC
Chile's March economic activity indicator contracts 2,1%, with the largest falls in mining and manufacturing

Chile's monthly economic activity indicator, Imacec, contracted in March 2,1% compared to the same month in 2022, according to the latest report from the country's Central Bank. The indicator is located in the pessimist area of analysts' expectations who were anticipating a drop of minus 1,7% to minus 2%, following the latest reports of industrial production and commerce activity during March. This is also the second-month running contraction and the largest fall since last November when the Chilean economy collapsed minus 3,3%.
Wednesday, May 3rd 2023 - 11:13 UTC
Deforestation controversy: despite EU landmark legislation, Brazil will keep to its own legal system

Brazil’s government said it could not interfere with a landmark EU law banning imports of commodities linked to deforestation but will keep farming according to its own laws. The law approved by the European Parliament on April 19 bans imports of coffee, beef, soy, palm oil, cocoa, rubber, wood, charcoal and derived products including leather, chocolate and furniture if they are linked to forest destruction.
Wednesday, May 3rd 2023 - 10:58 UTC
Shortage of rain water threatens Panama Canal crossings forcing ships to reduce their draft and cargoes

Insufficient rainfall has once again forced the Panama Canal to reduce the draft of ships crossing through the inter-oceanic route – another episode of the water supply crisis that threatens the future of the maritime course that handles 6% of global maritime trade
Wednesday, May 3rd 2023 - 10:56 UTC
UK expected to reopen Brazilian poultry imports at the latest in June, minister Fávaro

With no new shipments since 2017, Brazilian poultry exports to the UK are set to be re-launched this year, announced Minister of Agriculture Carlos Fávaro at an agribusiness seminar in São Paulo last week.
Tuesday, May 2nd 2023 - 10:57 UTC
Massa to broker imports from Brazil paid in Argentine pesos

Argentina's Economy Minister Sergio Massa will travel to Brazil alongside President Alberto Fernández to find credit alternatives through which to spend fewer dollars in bilateral trade, it was reported.
Tuesday, May 2nd 2023 - 10:20 UTC
Lula sets up committee to work on legislating Uber-like work

Brazilian President Luiz Inácio Lula da Silva's administration created a working group to draft labor rules for drivers and good deliverers using mobile applications. The initiative was published Monday in the Diário Oficial da União (Official Gazette).
Sunday, April 30th 2023 - 09:46 UTC
Argentina needs a way out of the dollar gamble, Mujica says

Former Uruguayan President José “Pepe” Mujica said Argentines have long lost confidence in their currency; hence the jump of the “blue” (a euphemism for “black market”) dollar.