Economy

Wednesday, July 7th 2021 - 10:11 UTC
Uruguayan Supreme Court upholds conviction of former BROU CEO involved in scandal to purchase PLUNA aircraft

Former Banco República of Uruguay (BROU) CEO Fernando Calloia's 20-month jail sentence was upheld Tuesday by Uruguay's Supreme Court, thus extinguishing the chain of appeals available to the defendant.
Wednesday, July 7th 2021 - 09:06 UTC
Peru's middle class shrinks from 43% to 24% during 2020

A new study released Tuesday by the Institute of Economics and Business Development (Iedep) of the Lima Chamber of Commerce showed that some 6.3 million Peruvians fell from the country's middle-class social group during 2020.
Tuesday, July 6th 2021 - 09:55 UTC
Uruguay's yearly inflation set at 7.33% after Monday's figures

Uruguay's yearly Consumer Price Index (CPI) was 7.33% as per data released Monday by the National Institute of Statistics (INE), slightly above the government's target.
Tuesday, July 6th 2021 - 09:15 UTC
Mining company pledges to invest US $ 34 million in lithium plant in northern Argentina

A local subsidiary of China's Ganfeng Lithium has purchased a 23-hectare property in the General Güemes Industrial Park in the northwestern Argentine province of Salta, it was announced.
Tuesday, July 6th 2021 - 09:08 UTC
Production of motor vehicles in Argentina shows signs of recovery

The production of motor vehicles in Argentina in June grew 14.5% compared to May's output for a total of 40,035 units, which made up for a 155.7% YoY increase against 2020 figures, it was reported Monday by the Association of Automotive Factories (Adefa).
Monday, July 5th 2021 - 21:18 UTC
Jeff Bezos no longer CEO of e-commerce giant Amazon

What goes up must come down and even the unthinkable has happened – Jeff Bezos, founder of e-commerce giant Amazon.com has left his position of CEO as of Monday, it was announced. Bezos will be replaced by Andy Jassy, who for years led Amazon's lucrative division of cloud computing AWS.
Monday, July 5th 2021 - 08:47 UTC
Bringing all Argentines stranded abroad back home at a rate of 600 daily passengers might take up to five months

Argentina's Chamber of Airlines (JURCA) issued a statement over this weekend, warning that bringing back all travellers banned from reentering the country following a cap of 600 airborne passengers a day might take up to five months.
Monday, July 5th 2021 - 08:07 UTC
US Judge extends Latam's bankruptcy protection restructuring plan to September 15

The Latam group airlines group reported that the Federal Court from the southern district of New York approved the extension of its restructuring plan to September 15, as part of the bankruptcy protection process initiated last year.
Monday, July 5th 2021 - 07:09 UTC
Suez Canal blockage: Egypt and Japanese company reach a deal to release vessel

Egyptian authorities and Japan's Shoei Kisen Kaisha finally reached an agreement on compensations for Suez canal lost revenues and the cost of salvaging a huge vessel that blocked the crucial waterway linking Asia with Europe.
Saturday, July 3rd 2021 - 11:19 UTC
US Dollar climbs to R$ 5.05 in a Brazilian market hit by political turmoil

The US dollar was traded at R$ 5.05 apiece Friday amid Brazil's volatile context with President Jair Bolsonaro under investigation for alleged corruption and a mega request for his impeachment already in Congress.