Economy

Tuesday, July 12th 2022 - 19:32 UTC
Brazilian record corn crop stored in the open; 11 million tons of soybeans remain unsold

Warehouses in Brazil are still full of soybeans, harvested just a few months before corn. In the state of Mato Grosso, soybean production was high this season, but at the same time sales are slower than usual, leaving warehouses with no space for corn, according to Cleiton Gauer, superintendent of the Mato Grosso Institute of Agricultural Economics (IMEA).
Tuesday, July 12th 2022 - 19:05 UTC
Heathrow caps number of departing passengers to avoid overcrowding

Managers at London's main airport announced they were imposing a 100,000-daily-passenger cap in a move to curb traveler lines and luggage delays amid recurrent cancellations and other nuisances. Heathrow serves 203 destinations in 84 countries.
Tuesday, July 12th 2022 - 18:59 UTC
Argentina's trade balance with Brazil in the red for 6th month in a row

Bilateral trade between Mercosur partners Brazil and Argentina was reported to have reached US$ 2,937 million in the month of June of 2022, a 46.9% increase against the same period of 2021, according to the Argentine Chamber of Commerce (CAC) document released earlier this week.
Tuesday, July 12th 2022 - 18:54 UTC
Euro-zone inflation, things will get worse before they begin to improve

The Euro-group, (countries using the Euro) finance ministers said that combating inflation was their number one priority. The announcement follows on the European Commission revised economic forecast anticipating dwindling growth and increasing geopolitical and natural disruptions to business as the biggest drags on the economy as a whole.
Tuesday, July 12th 2022 - 13:08 UTC
Inflation in Chile at record level since June 1994

Inflation in Chile reached 0,9% in June, 7,1% in the first half of the year and 12,5% in the last twelve months, which is the highest since 28 years, in June 1994.
Tuesday, July 12th 2022 - 07:54 UTC
US dollar soars in Colombia as Petro's inauguration looms over

The Colombian peso Monday suffered a historic devaluation amid uncertainty less than a month ahead of President-elect Gustavo Petro's inauguration.
Monday, July 11th 2022 - 22:22 UTC
Batakis announces spending cuts for Argentine gov't

Argentina's Economy Minister Silvina Batakis Monday warned that the government of President Alberto Fernández “will not spend more than we have,” while launching a series of measures aimed at curbing inflation and restoring federal reserves.
Monday, July 11th 2022 - 10:17 UTC
Argentine authorities ready to launch batch of economic measures

Argentine President Alberto Fernández and newly-appointed Economy Minister Silvina Batakis reviewed over the weekend a series of measures to be launched shortly in a move to curb inflation and strengthen the Treasury's coffers.
Saturday, July 9th 2022 - 10:15 UTC
Contradicting messages from Batakis herald split devaluation

Argentine Economy Minister Silvina Batakis has been reported Friday to be evaluating several possible scenarios, all of which involve some forms of devaluation of the local peso.
Saturday, July 9th 2022 - 10:03 UTC
Uruguay Central Bank raised interest rate policy 50 basis point to 9,75%

Uruguay's Central Bank of Uruguay this week ordered a 50 basis point increase in the interest rate policy, the eighth straight increase since last August. The move, which brings the monetary policy rate to 9.75%, means the central bank has ordered 525bp of increases in total over the past 11 months. The 50bp hike was somewhat smaller than the four previous hikes, which included April’s 125bp increase and three 75bp hikes.