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MercoPress, en Español

Montevideo, July 2nd 2025 - 05:17 UTC

Economy

  • Thursday, February 27th 2025 - 13:36 UTC

    Argentina lifts restrictions on exporting live cattle

    Argentina's extraordinary number of self-imposed restrictions has been omitted from the debate for decades, Sturzenegger explained

    Argentine President Javier Milei's Decree 133/25 ending a 50-year ban on exporting live cattle was published Wednesday in the Official Gazette. The measure had been adopted in 1973 due to supply issues. The Libertarian Government's initiative thus opens new market opportunities for the livestock sector.

  • Thursday, February 27th 2025 - 10:29 UTC

    Petrobras' 2024 profits below those attained the year before

    The exchange rate variation impacted negatively on the company's performance

    Brazil's State-owned oil company Petrobras activities yielded R$36.6 billion (US$7.5 billion) in profits last year, according to a report released Wednesday in Brasilia. However, these figures are below 2023's performance, when the company recorded a net profit of R$124.6 billion (US$24.9 billion), the exchange rate variation in debts between Petrobras and its subsidiaries abroad playing a key role in these results.

  • Wednesday, February 26th 2025 - 18:54 UTC

    Judge reverses Milei's decree turning BNA into a corporation

    Milei exceeded his authority when deciding on the BNA's fate after the matter had already been debated in Congress, the magistrate found

    Argentine Federal Judge Alejo Ramos Padilla issued an injunction against President Javier Milei's decree paving the way for the conversion of the state-owned Banco de la Nación Argentina (BNA or just “Banco Nación”) into a joint stock company because such a measure needed Congressional approval given that the bank's creation and structure fall under legislative authority.

  • Tuesday, February 25th 2025 - 19:03 UTC

    Uruguay's INE reports unemployment on the rise

    Unemployment grew year-on-year despite the creation of 27,000 new jobs, the INE report found

    Uruguay's National Institute of Statistics (INE) released a report Tuesday showing that last month's unemployment rose from 7.4% to 8.1% from the previous month. However, this figure represented an interannual improvement against last year's 8.6%. Joblessness was not as harsh in Montevideo (7.1%) but it was indeed noticeable elsewhere in the South American country (8.7%). In addition, 21.3% of workers were detected not to be registered with social security authorities, which was tantamount to an increase in informality.

  • Tuesday, February 25th 2025 - 10:42 UTC

    Fossil fuels will finance Brazil's energy transformation, Lula says

    As long as people cannot do without fossil fuels they shall remain necessary, Lula argued

    Brazilian President Luiz Inácio Lula da Silva pointed out that his country would rely on fossil fuels to finance the transition to clean energy. He made those remarks during a contract signing ceremony with Transpetro and oil companies Rio Grande and Mac Laren.

  • Tuesday, February 25th 2025 - 10:13 UTC

    Peru and Bolivia sign key bilateral agreements

    We are neighboring countries united by several elements, Sosa said during the ceremony in Lima

    Foreign Ministers Elmer Schialer of Peru and Celinda Sosa of Bolivia signed a series of agreements in Lima on Monday to strengthen ties between the two countries with a focus on cooperation and integration to promote the bilateral agenda. The understandings include a Temporary Border Module at the San Lorenzo (Peru)-Extrema (Bolivia) border crossing and the financing and Biennial Operating Plan 2025-2026 for the Binational Autonomous Authority of Lake Titicaca.

  • Tuesday, February 25th 2025 - 09:44 UTC

    Starbucks announces large-scale staff downsizing

    The job cuts will not affect people working in the cafes or warehousing, manufacturing, distribution, and roasting operations, the company explained

    Arguably the world's most important coffee store chain, Starbucks announced Monday the termination of 1,100 corporate jobs, which are not the ones customers usually see in stores. CEO Brian Niccol said the measure was necessary to remove duplicate positions.

  • Saturday, February 22nd 2025 - 09:51 UTC

    Milei tells IDB his government's achievements had to overcome a social justice mentality

    “There's always some mean-spirited jerk because whoever is doing this knows he's interrupting the talk,” said Milei about a ringing phone during his speech

    Argentine President Javier Milei highlighted Friday during his speech at the Inter-American Development Bank (IDB) headquarters in Washington DC that his administration's economic “achievements” had been attained despite the concept of “social justice” wielded under previous governments, which - in his view - is an “aberration.”

  • Friday, February 21st 2025 - 19:37 UTC

    An average Argentine worker earns US$ 482/month, Indec says

    Overall, there are about 4.7 million people actively looking for a job in Argentina's complex labor market, the Indec survey found

    Argentina's National Institute of Statistics and Census (Indec) Permanent Household Survey (EPH) released this week showed that the average income per worker in Argentina during the third quarter of 2024 amounted to AR$ 588,011 (nearly US$ 482 at Friday's unofficial exchange rate, also referred to as “blue,” which is a euphemism for “black market”).

  • Friday, February 21st 2025 - 09:45 UTC

    Paraguayan President celebrates drop in unemployment

    “In one year and 4 months of management we created in Paraguay 100,000 new jobs,” Peña underlined

    Paraguayan President Santiago Peña Thursday celebrated the creation of over 96,000 new jobs since the start of his administration, according to a study from the National Institute of Statistics (INE) released in Asunción which showed a significant increase from the third quarter of 2023 to the fourth quarter of 2024, with major growth in commerce, restaurants, hotels, community services, and construction sectors.