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MercoPress, en Español

Montevideo, December 18th 2025 - 02:40 UTC

Economy

  • Friday, August 7th 2009 - 11:32 UTC

    Chilean “tsunami” at wine contest in Santiago

    Only one gold medal was awarded to a non-Chilean wine; a Bolivian wine won for “Best Distilled.”

    Chilean winemakers nearly swept an international wine contest in July, winning all but a few accolades at the event. The contest, Vinalies Cata d’or América Latina 2009, was held at the Hyatt Hotel in Santiago The competition, put on by Italy, Spain and Portugal, as well as Brazil, Uruguay and Bolivia.

  • Friday, August 7th 2009 - 07:02 UTC

    ECB says recession is “bottoming out” and predicts positive growth in 2010

    Trichet warned about volatility stemming from renewed increases in oil and commodities, protectionism and disorderly correction of global imbalances.

    The European Central Bank (ECB) has said on Thursday it expects to see growth returning to the global economy next year as it kept interest rates on hold at 1%. However economic activity is likely to remain weak this year.

  • Friday, August 7th 2009 - 03:38 UTC

    Bank of England pumps an additional £ 50 billion to the economy

    Quantitative easing expansion since the UK recession “appears to have been deeper than previously thought” and “lending to business has fallen”.

    The Bank of England’s Monetary Policy Committee decided on Thursday to maintain the official bank rate paid on commercial bank reserves at 0.5% and voted to boost the money supply with an additional £ 50 billion to £ 175 billion to aid the flagging UK economy. The announced program is expected to take another three months to be completed.

  • Thursday, August 6th 2009 - 16:38 UTC

    Argentina tries to replace Colombia as supplier of vehicles to Venezuela

    Chavez decision to cancel imports from Colombia could favour Argentina and Brazil

    Argentina's car and car part manufacturers will travel to Venezuela next week to attempt to capitalize on Venezuela decision to cancel imports from neighboring Colombia. The trade mission will be led by Argentine President Cristina Fernandez de Kirchner, the Production Minister said in a press release Wednesday.

  • Thursday, August 6th 2009 - 16:17 UTC

    Soaring bad debts at Lloyds Banking Group but “worst is over”

    The bank expects to begin gradually recovering in 2010

    Lloyds Banking Group which has been partly nationalized by the British government blamed soaring bad debt charges of £13.4 billion on reckless lending at HBOS, but predicted the worst is over.

  • Thursday, August 6th 2009 - 16:14 UTC

    China appeases peasants with partly subsidized new pension scheme

    Discontent is widespread in rural areas because of income disparity with urban residents.

    The Chinese government is to introduce a new pension scheme for the country's hundreds of millions of rural workers. The minister for social security announced that a trial scheme would be extended across China by October.

  • Wednesday, August 5th 2009 - 12:39 UTC

    Lula da Silva boasts Brazil now advises the IMF

    In his daily column the Brazilian president said the country is rapidly recovering from the global crisis.

    President Lula da Silva said that Brazil is climbing out, and strengthened, from the deep global financial crisis and underlined that “Brazil is now advising the International Monetary Fund, IMF”.

  • Tuesday, August 4th 2009 - 10:44 UTC

    Argentina pays bond and seeks to return to global capital markets

    Minister Boudou said the 2.25 billion paid with Central Bank funds will not have an impact on the country’s international reserves.

    Argentina paid creditors a total of 2.25 billion dollars on government-issued debt Monday, as it sought to shed the last vestiges of its 2001 default and return to the financial mainstream. Economy Minister Amado Boudou said the payment, or coupon, had been made to holders of dollar-denominated Boden 2012 bonds -- meeting a debt obligation that aims to boost confidence.

  • Tuesday, August 4th 2009 - 10:34 UTC

    US July Ford, Subaru and Hyundai sales up; GM Chrysler down

    The US scrappage program “cash for clunkers” has had a positive effect

    United States vehicle sales were mixed in July, with Ford seeing sales rise compared to a year earlier while both Chrysler and GM posted a fall. Asian car manufacturers also saw varied US sales, with Subaru and Hyundai sales up while Honda and Toyota both posted falls year-on-year.

  • Tuesday, August 4th 2009 - 09:33 UTC

    Two UK main banks report combined half year profits of £ 6 billion

    The two banks underscored their performances in spite of adverse conditions, but they are also in the list called for “robust” discussions on lending with the UK Treasury

    British banks Barclays and HSBC have shrugged off the near-collapse of the financial system to report combined half-year profits of almost £6 billion. The duo - which both avoided taxpayer support at the height of last autumn's crisis - posted profits of nearly £3 billion each, mainly due to strong investment banking results.