Economy

• Friday, March 25th 2022 - 09:31 UTC

  Venezuela's Maduro feels worthy of Nobel Prize in Economics

  

  Venezuela's President Nicolás Maduro Thursday unleashed anger worldwide when he claimed his government deserved the Nobel Prize in Economics, which earned him a barrage of negative comments on social media.

• Friday, March 25th 2022 - 09:29 UTC

  Potash prices have more than trebled and keep climbing

  

  Potash prices, a key element used as fertilizer have more than trebled compared to a year ago. The mineral which was trading at US$ 300 a ton in early 2021, has now skyrocketed to US$ 1,100 a ton, and with not many prospects of returning to normal levels given the ongoing month-long war in Ukraine following on the Russian invasion.

• Friday, March 25th 2022 - 09:20 UTC

  Falklands Chamber of Commerce satisfied port project advances, but warns FIG on “gaps and issues”

  

  The Falkland Islands Chamber of Commerce has reacted positively to news that the new port construction will go ahead. Invited to respond to the news in the light of recent controversy (FIG approved the Port Development Planning application despite a recommendation against by the Planning and Building Committee) a spokesperson for the Chamber responded to the Penguin News as follows:

• Thursday, March 24th 2022 - 09:31 UTC

  Uruguay's economy grows 4.4% in 2021, Central Bank says

  

  According to a study by Uruguay's Central Bank released Wednesday, the country's economy has grown 4.4% in 2021, despite all COVID-19 restrictions. The new figures show a recovery from 2020's fall due to the sanitary measures in force, which led to a decline in GDP of 5.9%.

• Wednesday, March 23rd 2022 - 09:40 UTC

  President Fernández, Georgieva hold talk ahead of IMF's board vote

  

  Argentine President Alberto Fernández Tuesday held a virtual meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, during which he ratified his Government's commitment to the new program agreed upon.

• Wednesday, March 23rd 2022 - 09:26 UTC

  Ukraine anticipates spring crops cut by half; only 7 out of 15 million hectares were sown

  

  As a result of the Russian invasion, Ukraine's agricultural minister Roman Leshchenko said he expects his country's spring crop area may be halved this year to only 7 million hectares.

• Wednesday, March 23rd 2022 - 09:22 UTC

  Forum of Brazilian Governors agrees on tax freezing to curb inflation

  

  A forum of Brazilian Governors Tuesday agreed to extend for another 90 days the freeze on the average Tax on Merchandise Circulation (ICMS) that is levied on gasoline, ethanol and cooking gas to help mitigate inflation's impact on the citizenry's purchasing power, it was announced.

• Wednesday, March 23rd 2022 - 09:15 UTC

  Brazilian two-month record breaking sales of soybeans and rice

  

  Brazilian oilseeds and grain exports are booming. China's purchases of soybeans more than doubled in the first two months of the year, while husk rice overseas sales during February jumped 65% compared to a year ago.

• Wednesday, March 23rd 2022 - 09:04 UTC

  Punta del Este needs more schools to accommodate new residents

  

  The exclusive Uruguayan beach resort of Punta del Este is experiencing an increase in the development and establishment of schools, as migrating inflows of Argentines and also of people from other parts of the country to become permanent residents have put pressure on the demand.

• Monday, March 21st 2022 - 22:26 UTC

  Argentina reopens soybean exports

  

  The Government of Argentina Monday went back on its steps and reopened exports of soybeans and their by-products after a decision on March 13 to close the registry for sales abroad imposed by Undersecretary of Agricultural Markets Javier Preciado Patiño.