Economy

• Monday, June 20th 2011 - 01:27 UTC

  Uruguayan exporters and government officials clash over costs and the US dollar

  

  Uruguayan exporters and government officials clashed over the (depressed) value of the US dollar in the local market and its impact on overseas sales competitiveness and profits. The differences surfaced during the celebration of “Exporters Day”.

• Sunday, June 19th 2011 - 22:52 UTC

  Cruise vessels would be allowed to operate casinos while docked in Gibraltar

  

  Senior cruise executives from across the globe showed “considerable interest” in plans to permit gambling on cruise ships docked overnight in Gibraltar.

• Sunday, June 19th 2011 - 22:46 UTC

  Greece and Spain react to the Euro-pact of painful economic reforms

  

  As the Euro crisis debt crisis expands, Greek Prime Minister George Papandreou appealed to parliament to support a new cabinet appointed to push through painful economic reforms, saying a debt default would be catastrophic for the country and the European Union.

• Sunday, June 19th 2011 - 10:13 UTC

  Uruguay private consumption expanding several points higher than GDP

  

  The Uruguayan economy expanded 2.3% in January-March over the previous quarter, which has elevated forecasts for the twelve months of 2011 to a floor of 6.5%. However the Uruguayan government is concerned that consumption again expanded at a higher rate than GDP.

• Saturday, June 18th 2011 - 03:02 UTC

  Green light for construction of Uruguay’s second pulp mill

  

  The construction of Uruguay’s second pulp mill, which includes a power plant and port facilities have been authorized following the approval of the Montes del Plata environment policies.

• Friday, June 17th 2011 - 16:43 UTC

  Venezuelan billionaire teams up with Chinese banks to invest in Latam

  

  Venezuelan billionaire Gustavo Cisneros is setting up joint ventures with Chinese banks to carry out investment in Latin American commodities industries.

• Friday, June 17th 2011 - 06:03 UTC

  US current account deficit up 6.3% spurred by imports of more expensive oil

  

  The US current account deficit rose 6.3% to $119.3bn in the first three months of the year, the Commerce Department has said. Strong exports of cars, computers and machinery were offset by imports, particularly of more expensive oil.

• Thursday, June 16th 2011 - 13:26 UTC

  Banco do Brasil plans to expand into Chile, Peru and Colombia

  

  Banco do Brasil, Latin America’s biggest bank by assets, is considering buying lenders in Colombia, Peru and Chile to attract corporate clients and increase business with Brazilian companies in the region. Last month the bank announced the reopening of its branch in Montevideo, Uruguay.

• Thursday, June 16th 2011 - 06:10 UTC

  Brazil’s default risk lower than the US, claims Minister Mantega

  

  Brazilian Finance Minister Guido Mantega said Wednesday that his country's default risk had become lower than that of the United States.

• Wednesday, June 15th 2011 - 23:35 UTC

  Argentina’s official May ‘fantasy’ inflation 0.7%; private consultants, 1.5%

  

  Inflation in Argentina reached 0.7% in May compared to the volume reported in the previous month, the Indec national statistics bureau announced on Wednesday. The official rate is less than half what was presented on Tuesday by opposition lawmakers, which they assured reached 1.5% and 23% in the last twelve months.