Economy

Friday, May 6th 2022 - 10:57 UTC
Cafiero outlines Argentine foreign policy priorities, trade, Malvinas and Mercosur

The main challenge of Argentine foreign policy is to reinstall the necessary tools to recover the trade dynamics that enable the country to recover from the pandemic's economic downfall, plus making it attractive to foreign investors, said Foreign minister Santiago Cafiero summoned by the Senate Foreign Relations Committee.
Friday, May 6th 2022 - 10:55 UTC
EU Ambassador to Uruguay on trade agreement with Mercosur: “It is something that European citizens are asking their governments for”

The ambassador of the European Union (EU) in Uruguay, Paolo Berizzi, said he was “optimistic” about the agreement between the bloc he represents and Mercosur. After more than 20 years of negotiations, Berizzi said he believes that this year there will be progress for its entry into force.
Friday, May 6th 2022 - 09:49 UTC
Despite record profits, Maersk warns of stagflation and Chinese factory closures

Møller-Maersk has warned of growing economic risks including potential stagflation and Chinese factory closures even as the world’s largest container shipping group by profits reported a record quarter.
Friday, May 6th 2022 - 09:45 UTC
Chile's base rate increased 125 points to 8,25%, highest since September 2008

Private estimates fell short in Chile on Thursday when the Central Bank monetary policy desk announced an increase in the base rate of 125 points, to 8,25%, the highest since September 2008 in an effort to contain the strong sustained inflation. According to the bank's chair, Rosanna Costa the monetary policy desk decision was unanimous.
Friday, May 6th 2022 - 09:18 UTC
Brazil hikes interest rate to its highest in five years, 12,75%, to fight double digit inflation

As anticipated Brazil's central bank, in a unanimous decision, raised interest rates by 1% to 12,75%, the highest in five years, to contain double digit inflation. However policymakers suggested their tenth straight rate increase would not be the last in what has been one of the world’s most aggressive ongoing rate hike cycles.
Friday, May 6th 2022 - 09:09 UTC
Bank of England combats inflation by increasing base rate interest to 1%

The Bank of England on Thursday increased for the fourth consecutive time the base rate interest to 1% in an attempt to contain inflation and despite admitting the prospect of recession. The energy crunch, the Russian war in Ukraine, and lesser household incomes are expected to contribute to weaker growth.
Thursday, May 5th 2022 - 19:47 UTC
Car manufacturing in Argentina grows interannually

Car manufacturing in Argentine recorded a substantial increase in April, according to the latest monthly report by the Association of Manufacturers (Adefa), making it the third consecutive month with a favorable output.
Thursday, May 5th 2022 - 10:21 UTC
Multi dimensional poverty conditions affect 25 million Argentines, 54,9% of the population

Some 25 million Argentines, 54,9% of the whole population can be described as poor, following monetary criteria and simultaneously a multi-dimensional approach. This approach refers to such structural factors as housing, basic services, education, employment, and health attention.
Thursday, May 5th 2022 - 10:15 UTC
Markets react positively to Fed's rate increase and reduction of debt beginning June

United States markets on Wednesday reacted positively to the Federal Reserve's 50 points basis rate increase, the first of such magnitude since 2000, to try and control inflation. Likewise stocks rallied on Fed chair Jerome Powell's announcement ruling out larger rate hikes and underscoring the possibility of a soft landing, avoiding a recession.
Wednesday, May 4th 2022 - 22:07 UTC
Uruguay's inflation stable in April but still above target figures

Uruguay's interannual inflation during the month of April of 2022 reached nearly 9.4%, as prices rose below projections thanks to sharp decreases in fruits, vegetables, and meat.