Economy

• Friday, October 21st 2011 - 07:51 UTC

  Uruguay satisfied with oil corporations’ interest in exploring in its maritime shelf

  

  At least ten first line oil and gas corporations expressed interest in the road show set up by Uruguay in Houston to promote hydrocarbons exploration on its continental shelf, according to one of the Directors of the country’s fuels company Ancap.

• Friday, October 21st 2011 - 07:41 UTC

  Uruguay and EC committed to advance with the EU/Mercosur association accord

  

  Uruguay and the European Commission agreed on the importance of promoting economic and investment relations and ratified their commitment to advance negotiations for a Mercosur/EU wide ranging trade and association agreement that is “integral, balanced and ambitious”.

• Friday, October 21st 2011 - 05:34 UTC

  Fitch warns Argentina on ‘inconsistent policies’ that spur inflation and volatility

  

  Argentina’s sovereign rating is “heavily constrained by inconsistent” policies that have accelerated inflation and economic volatility, Fitch Ratings said three days before presidential elections.

• Friday, October 21st 2011 - 05:19 UTC

  World Cup 2014 takes off in Sao Paulo and Maracana stadium the final

  

  Sao Paulo will host the opening match of the 2014 World Cup and Rio de Janeiro's Maracana stadium, where Uruguay in 1950 knocked out the host’s dream of its first Cup, will stage the final, FIFA announced Thursday.

• Friday, October 21st 2011 - 05:13 UTC

  Brazil reaffirms its political and trade influence in Angola and Mozambique

  

  Brazil reaffirmed its influence in Africa with the visit by President Dilma Rousseff on Thursday of the oil rich ‘brother’ nation Angola. Rousseff had previously visited South Africa and Mozambique.

• Friday, October 21st 2011 - 05:03 UTC

  Brazil Supreme Court suspends 90 days higher tax on imported cars

  

  Brazil’s Supreme Court suspended until mid-December a higher tax on imported cars imposed in September to protect local manufacturers from cheap import from China, Korea and elsewhere.

• Friday, October 21st 2011 - 01:45 UTC

  Beef per capita consumption in Argentina drops to half in 53 years

  

  Beef consumption in Argentina registered in 2011 its lowest per capita in 53 years, having dropped approximately 50% from 98.4 kilos in 1958 to 53.4 kilos last June according to the Institute for the Promotion of Beef.

• Thursday, October 20th 2011 - 21:41 UTC

  Argentina/Brazil clash over restrictions to footwear imports

  

  Argentine and Brazilian footwear manufacturers clashed this week over restrictions to trade, mainly through the delay in approving import licences but agreed to keep talking next month in Rio do Janeiro.

• Thursday, October 20th 2011 - 21:36 UTC

  Brazil lowers basic rate half a point for a second time running to 11.5%

  

  Brazil’s central bank cut borrowing costs by half a point for a second straight meeting. The bank’s board, led by President Alexandre Tombini, voted unanimously to reduce the benchmark Selic rate to 11.5% from 12% percent.

• Thursday, October 20th 2011 - 21:22 UTC

  European Union remains split on how to strengthen Euro zone bailout fund

  

  The European Union has agreed that around 100 billion Euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the Euro zone's bailout fund.