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MercoPress, en Español

Montevideo, December 3rd 2025 - 22:57 UTC

Economy

  • Friday, December 6th 2024 - 23:07 UTC

    Mercosur-EU FTA signed at last

    “Mercosur will bring significant benefits to consumers and businesses on both sides,” Von der Leyen said

    The South American Common Market (Mercosur) and the European Union announced Friday in Montevideo the final signing of the Free Trade Agreement (FTA) between both blocs, thus creating the largest and most populated commerce zone worldwide. The understanding was reached after 25 years of negotiations and despite France's reluctance.

  • Friday, December 6th 2024 - 10:55 UTC

    Mercosur-EU FTA ratification imminent

    The imminent announcement is expected to happen during a press conference on Friday morning

    Momentum is building up in Montevideo as the presence of European Commission President Ursula von der Leyen seems to herald the imminent signing of the Free Trade Agreement (FTA) with the Southern Common Market (Mercosur) as Brussels needs to halt China's commercial expansion in the region while Donald Trump's return to the White House looms over.

  • Friday, December 6th 2024 - 10:23 UTC

    Argentina's BCRA lowers basic interest rate again

    The previous decrease had been announced on Nov. 1 when the TNA was lowered from 40 to 35%

    Argentina's Central Bank (BCRA) announced Thursday a reduction in the basic interest rate (Nominal Annual Rate - TNA), from 35% to 32% while one for swaps will go down from 40% to 36%. The measure is effective as of Friday and impacts all fixed-term deposits.

  • Friday, December 6th 2024 - 10:00 UTC

    Relief in Brazil, EU negotiators agree to delay anti-deforestation bill until end of 2025

    The “informal agreement” reached by the Parliament, Commission, and Council is scheduled to be voted during the Parliament’s next plenary session, December 16–19

    The implementation of the European Union Deforestation Regulation bill has been postponed until the end of 2025, following a provisional political agreement this week, between the European Parliament and the European Council.

  • Thursday, December 5th 2024 - 10:55 UTC

    Mercosur-EU deal at stake at Montevideo Summit starting Thursday

    Von der Leyen's presence is interpreted as a will on the part of most EU members to conclude the FTA

    The Southern Common Market (Mercosur) hopes to clinch the Free Trade Agreement (FTA) with the European Union (EU) during the two-day regional bloc's Summit starting Thursday in Montevideo with European Commission President Ursula von der Leyen as the main guest.

  • Thursday, December 5th 2024 - 06:05 UTC

    Shipping sectors benefit from the Red Sea blockade, boosting demand for ships and higher fares

    Data from Clarksons Research, seaborne trade remains on track to record a 6.5% growth in ton-miles this year, the fastest rate of expansion for 14 years

    But the Red Sea shipping scenario with the Houthis attacks, and to a smaller extent, the drought in Panama – have had as can be expected in such situations, some sectors that can benefit. That is why most shipping sectors have experienced the strongest growth in ton-miles registered this year since 2010, helping prop up rates to highly profitable levels

  • Wednesday, December 4th 2024 - 21:30 UTC

    Brazil: IBGE says growth in 3Q reached 0.9%

    The IBGE also reported that the GDP growth for 2023, previously published as 2.9%, has been revised upward to 3.2%

    Brazil's economy grew 0.9% in the third quarter of 2024, according to data released this week, Agencia Brazil reported Wednesday citing figures from Brazil's Institute of Geography and Statistics (IBGE), which represented a 4% yoy increase in the country's Gross Domestic Product (GDP)—the total of all goods and services produced nationwide.

  • Wednesday, December 4th 2024 - 09:54 UTC

    Uruguayans do their shopping in Brazil to capitalize on surging US dollar

    Things are usually less expensive on the Brazilian side but the gap has gone wider after recent devaluations of the real

    Uruguayan retailers in cities bordering Brazil have expressed concern after residents increased their tendency to shop abroad in the face of the recent rise in the US dollar. Meanwhile, duty-free shops are looking for strategies to cushion the drop in sales to the Brazilian public, amid fears of a surge in smuggling.

  • Tuesday, December 3rd 2024 - 20:46 UTC

    China Eastern Airlines pivotal in Chilean exports

    In the 2024-2025 cherry season, China Eastern Airlines plans to carry some 12,000 tons of these fruits from Chile

    The role of China Eastern Airlines carrying Chilean exports into the Asian giant was highlighted Monday in Beijing, on the opening day of the Chile Week event. China's share in Chile's forestry and livestock shipments rose from 13% in 2013 to 30% in 2023, it was also explained.

  • Tuesday, December 3rd 2024 - 10:55 UTC

    Paris’ obsession against a deal with Mercosur: shortcomings of French agribusiness

    French agribusiness has struggled to maintain competitiveness, not only against producers outside the EU but also within the bloc, particularly Poland and Romania.

    Why is France so committed to avoid making viable the European Union/Mercosur trade and cooperation agreement? Interest group in France argue that domestic agribusiness has been undergoing profound structural changes over the past few decades, among which declining productivity, rising costs, and a waning interest among younger generations in pursuing agricultural work.