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MercoPress, en Español

Montevideo, March 26th 2019 - 14:43 UTC

Economy

  • Saturday, March 16th 2019 - 10:15 UTC

    IMF prepared to help Argentina stabilize exchange market volatility in election year

    The announcement followed a sharp fall in the Peso, dragged down by emerging doubts about the economy and rising political uncertainty by elections in October

    Argentina’s central bank wants to license market makers to help stabilize its embattled peso currency when the Treasury starts newly announced dollar sales in April. The bank hopes the market makers, dealers who agree to buy and sell at set prices, would bolster liquidity in the exchange market to help avoid the sharp gyrations the peso has suffered in recent weeks when it hit a record low of 42.5 pesos per dollar in thin trading.

  • Saturday, March 16th 2019 - 09:21 UTC

    Venezuelan continued oil fallout presents a challenge for global markets, says IEA

    Venezuela's oil production has fallen from approximately 2.4 million bpd in 2015 to around 1.2m bpd, as of the latest figures in February

    A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a “challenge” for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.

  • Friday, March 15th 2019 - 09:04 UTC

    China approves foreign investment law hopefully to improve relations with US

    The National People's Congress voted 2,929 in favor of the law, barely three months after a first draft was debated

    China's rubber-stamp parliament approved a foreign investment law on Friday that was fast-tracked and may serve as an olive branch in trade talks with the United States. The legislation aims to address long-running grievances from foreign businesses, but the US and European chambers of commerce have voiced concerns that they were not given enough time to give their input.

  • Friday, March 15th 2019 - 08:48 UTC

    Argentine inflation in February, 3.8% and 51% in twelve months; central bank new measures

    Inflation rose 3.8% in February, INDEC said, as President Mauricio Macri struggles to bring down prices ahead of key national elections this year.

    Argentina’s stubbornly high inflation accelerated again in February, the government said on Thursday, sparking the central bank chief to pledge new measures to rein in rising prices that have dogged the South American economy over the last year.

  • Friday, March 15th 2019 - 08:38 UTC

    EU open to granting UK a long extension, but some member countries demand certain conditions

    All 27 other EU nations would have to agree to an extension, and Mr Tusk, who is the bloc's summit chairman, will hold talks with several leaders

    European Council President Donald Tusk has said he will appeal to EU leaders “to be open to a long extension” of the Brexit deadline, if the UK needs to rethink its strategy and get consensus. His intervention came as UK MPs voted to seek a delay of the 29 March deadline to leave the EU. EU leaders meet in Brussels on 21 March and they would have the final say.

  • Friday, March 15th 2019 - 04:59 UTC

    Falklands Brexit impact still uncertain as 29 March looms

    MLA Teslyn Barkman said that regardless of the outcome of Brexit, Falklands will need to negotiate a future relationship with the EU independently of the UK

    The possible impact of Brexit on the Falklands is no nearer to gaining definition as UK MPs once again voted against a Brexit deal proposed by Theresa May, as well as voting against the possibility of leaving the European Union (EU) without any sort of deal.

  • Thursday, March 14th 2019 - 09:46 UTC

    China's industrial growth output fell to a 17-year low in Jan/Feb

    Premier Li Keqiang last week announced hundreds of billions of dollars in additional tax cuts and infrastructure spending

    Growth in China’s industrial output fell to a 17-year low in the first two months of the year, pointing to further weakness in the world’s second-biggest economy that is likely to trigger more support measures from Beijing.

  • Thursday, March 14th 2019 - 09:12 UTC

    Union halts operations at Argentina's biggest gold mine

    “It is unlikely the work stoppage will materially impact the fundamental value of the mine,” analysts at Canaccord Genuity wrote in a note

    A strike at Canadian Goldcorp Inc’s Cerro Negro mine in Argentina has forced a halt to operations, the company said on Tuesday, calling the union’s action at its biggest mine illegal. Mining activities stopped when the strike by the Asociacion Obrera Minera Argentina (AOMA) union began on March 8, and processing is also now halted as surface stockpiles have run out, Vancouver-headquartered Goldcorp said in a statement.

  • Thursday, March 14th 2019 - 07:59 UTC

    Brazil to discuss meat, sugar and ethanol trade with the United States

    “We are preparing documentation and will see if we can reopen this market ... so that all of Brazil’s meat-packers can resume exports to US,” Dias told reporters

    Brazilian Agriculture Minister Tereza Cristina Dias said that she will discuss U.S.-Brazil trade in meat, sugar and ethanol in talks next week between officials of the two countries. Dias, who will travel with President Jair Bolsonaro to the United States, said one of her priorities is to reopen the U.S. market for Brazil’s fresh beef exports, which were suspended almost two years ago over safety concerns.

  • Wednesday, March 13th 2019 - 20:09 UTC

    The best and the worst city to live in Latin America

    The Uruguayan capital is positioned above cities such as Buenos Aires or Santiago de Chile because of its relatively relaxed political and social environment (Photo: Nicolás Pereyra)

    Caracas, in the last place, and Montevideo ranks as the two opposite poles of the list of cities ordered by quality of life in Latin America in 2019, according to Mercer. The capital of Austria, Vienna, ranked for the tenth consecutive year as the best in the world.