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MercoPress, en Español

Montevideo, April 27th 2024 - 04:33 UTC

Economy

  • Thursday, April 11th 2024 - 10:04 UTC

    Presidents Lacalle Pou and Peña attend Conmebol dinner in Asunción

    Like-minded conservative leaders Peña and Lacalle Pou shared a series of activities in Asunción

    Presidents Santiago Peña of Paraguay and Luis Lacalle Pou of Uruguay Wednesday attended a dinner hosted by the South American Football Confederation (Conmebol) at the historic building of the Port of Asunción. Also participating in the event was Fédération Internationale de Football Association (FIFA) President Gianni Infantino.

  • Wednesday, April 10th 2024 - 11:06 UTC

    Another major Chinese construction and real estate developer ready to fall

    Like several other Chinese property developers, Shanghai-based Shimao defaulted on offshore bonds in 2022. Last month, it laid out detailed plans to restructure its debts.

    China Construction Bank (Asia), a state owned financial institution filed a petition in Hong Kong to wind up the Shamao Group, after the Chinese real estate and construction developer failed to repay loans worth HK$1.58bn (US$ 201.8m; £159.7m).

  • Tuesday, April 9th 2024 - 21:01 UTC

    HSBC leaving Argentina to pursue other interests

    Galicia is better positioned to invest and grow the business, HSBC's CEO said in a statement

    Global banking giant HSBC Tuesday announced it was selling its Argentine operations to Grupo Financiero Galicia for US$ 550 million after deciding to leave the South American country to focus on operations in Asia as the new business strategy. The total transfer process could take about 12 months as some regulatory approvals are still needed.

  • Monday, April 8th 2024 - 22:28 UTC

    Argentina delays payments to IMF until April 30

    What will Caputo seek during his trip to Washington between April 17 and 19?

    The Argentine Government of President Javier Milei Monday decided to postpone maturities with the International Monetary Fund (IMF) worth US$ 1.94 billion until the end of this month. The move was within the provisions of the standing agreement between the South American country and the credit agency, it was explained in Buenos Aires.

  • Monday, April 8th 2024 - 19:24 UTC

    Panama Canal chokepoint approaching an end as the rainy season begins in May

    Maersk gave its own indication of the improving water level, with the reinstatement of a service that had previously switched to a rail-land transit across Panama .

    The chokepoint at the Panama Canal could be approaching an end as weather forecasts indicate ample rain fall is heading for Panama, which if correct means many international shipping believe a return to normal crossing s possible in the near future.

  • Monday, April 8th 2024 - 10:22 UTC

    Milei reverses shopping trends in less than 4 months in office

    No question about it: Argentina has become expensive in US dollars

    Argentine President Javier Milei has been in office for less than 4 months, more than enough time to turn things around for people in neighboring countries. Uruguayans who used to do their shopping across the border no longer find it profitable, while Argentines flocked to Chile over the Easter weekend to do theirs.

  • Friday, April 5th 2024 - 10:53 UTC

    Falklands favors removal of 1p and 2p from circulation and a new set of banknotes

    The one and two pennies coins which according to the survey most respondents agreed should be removed from circulation

    From 6 November to 17 December 2023, the Treasury Department ran two consultations regarding changes to Falkland Islands currency: One on a proposal to withdraw low value 1p and 2p coins and the other on preferred themes and imagery for a new set of Falkland Islands banknotes.

  • Friday, April 5th 2024 - 10:10 UTC

    UK National Living Wage up from £10.42 to £11.44 an hour; will apply to workers over 21

    A full-time adult worker paid the minimum wage will see a pay rise worth £1,800 a year

    The minimum wage set by the British government, known as the National Living Wage in UK is rising from £10.42 to £11.44 an hour and will apply to workers over 21 rather than over 23, benefiting some 2,7 million low paid workers. Younger workers will also see a rise in the rates that apply to them.

  • Thursday, April 4th 2024 - 21:31 UTC

    IMF praises Milei's achievements but says social and political support needed

    “The road to stabilization is never easy,” Kozack said

    International Monetary Fund (IMF) Communications Director Julie Kozack praised the “impressive” achievements of President Javier Milei's administration in curbing inflation in Argentina but warned that “it remains important to work pragmatically to build social and political support to help ensure the durability and effectiveness of the reforms” implemented.

  • Wednesday, April 3rd 2024 - 19:58 UTC

    Paraguay not unwilling to pay Waterway toll, FM says

    Article 8 of the Waterway Treaty allows countries to charge tolls under certain conditions, Ramírez recalled

    Paraguayan Foreign Ministry Rubén Ramírez Lescano told Congress Wednesday in Asunción that the government of President Santiago Peña was not against barges sailing through the Paraná Waterway paying toll provided there was a service in return.