Brazil’s central bank kept its key Selic interest rate at a record low 8.75% and said its level was “consistent” with a non-inflationary recovery, signalling that no increase in borrowing costs is imminent.
Uruguay’s Botnia pulp mill in Fray Bentos and the eucalyptus plantation forestry company Forestal Oriental Uruguay have been transferred to UPM which is one of the world’s leading forest industry groups.
The US dollar slumped Wednesday, with the Euro rising above 1.50 for the first time in 14 months, as optimism about the global economic recovery boosted demand for higher yielding currencies.
Argentina's September trade surplus narrowed 42.8% from the same month a year ago, with exports falling even faster than imports, the government said this week. September's 926 million US dollars surplus, which fell short of analysts' expectations, is the smallest since January.
The economic recovery of developed countries, including the United States, rests largely on the growth of developing Asian and Latin American countries, the chief economist of Spanish banking group BBVA said this week.
Uruguay as the natural gateway to Mercosur, --South America’s main trading block-- will be the top issue to be discussed at the SeaCargo Americas AirCargo Americas Conference special seminar to he held November 5th in Miami with the participation of hemispheric port, airport and logistics leaders.
Brazil's stock market suffered one of its worst one-day plunges in three months and the currency sank after the government imposed a tax on foreign investments in local stocks and bonds. The Bovespa index of the Sao Paulo stock exchange dropped 2.88% to 65,303.11, after closing at its strongest level since June 2008 the previous session.
Chinese annual car production has topped 10 million for the first time as carmakers boost output to meet growing demand, state media has said. The 10 millionth car produced this year rolled off the First Automobile Works Group assembly line in Changchun, the official Xinhua News Agency reported.
In September sales soared 78% compared to a year ago totalling 1.33 million units.
Bank of England Governor Mervyn King has launched an attack on the banking industry's failure to reform despite breathtaking levels of taxpayer support. The Governor warned the public would be paying for the financial crisis for a generation.
Argentine economic activity in September and for the fourth month running showed signs of a slight recovery, according to the latest index from private consultants Orlando J Ferreres & Asociados, OJF, released Monday.