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MercoPress, en Español

Montevideo, November 23rd 2024 - 18:51 UTC

Economy

  • Thursday, September 7th 2023 - 10:39 UTC

    ECLAC's outlook for the region is grim, but better than in April

    Salazar-Xirinachs spoke of a disease of low growth

    The latest report from the Economic Commission for Latin America and the Caribbean (ECLAC) released Tuesday in Santiago foresees low regional growth for at least the next two years. For 2023, the organization projects a 1.7% increase in the Gross Domestic Product (GDP) while in 2024 it would fall to 1.5%, while the world's GDP is expected to grow by 3% in 2023 and 2024, down from 3.5% in 2022.

  • Thursday, September 7th 2023 - 10:08 UTC

    Bank of England says interest rates are close to their peak, but could inch further

    The Bank has hiked rates 14 times in a row as it tries to slow the fastest pace of price rises among the world's big economies

    Bank of England Governor Andrew Bailey has said interest rates are close to their peak, but that they may still have further to rise. He told MPs on Wednesday “we are much nearer now to the top of the cycle” of rate rises.

  • Wednesday, September 6th 2023 - 11:06 UTC

    Car manufacturing continues to grow in Argentina

    Argentina's automotive industry celebrated the production of the 20 Millionth unit last month, Galdeano said

    Car manufacturing in Argentina grew year-on-year, according to a report released Tuesday by the Association of Automotive Manufacturers (Adefa), which showed production reached 408,486 units, 19.5% higher than the 341,788 units from the same period of 2022. Adefa also said 63,455 vehicles were built in August, 17.4% more than in the same month of 2022 and 28.8% above July's figures.

  • Wednesday, September 6th 2023 - 10:40 UTC

    Chile's Central Bank lowers interest rate to 9.5%

    The dollar has strengthened, long-term rates have increased and stock markets have fallen, the Chilean monetary authority said

    Chile's Central Bank Council agreed unanimously Tuesday to lower the basic interest rate from 10.25 to 9.5% given the reduction in global inflation, it was reported in Santiago.

  • Tuesday, September 5th 2023 - 10:23 UTC

    Panama Canal congestion: “skipping the queue immensely costly”; east South America suffering

    “You can skip the queue but it’s immensely costly,” said Oystein Kalleklev, Avance Gas’s CEO. ”When you add the regular fee you’re getting close to US$ 3m to get your ships through.”

    Vessels in queue for transit across the Panama Canal stood at 128 ships on September first, some 42% above the 90 average, but 21% below the figure a month ago. While container ships, which have fixed schedules, tend to have reserved slots, the voyage plans for the tramp trades continue to be hit hard by the ongoing congestion brought about by drought and subsequent draft and transit restrictions put in place by the Panama Canal Authority (ACP).

  • Monday, September 4th 2023 - 07:38 UTC

    Brexit tariffs, not the EU’s Malvinas blunder, are the real issue worrying Falkland Islanders

    Goods imported into the EU from the Falkland Islands (such as squid), for the first time, are now subject to the EU’s common external tariff. ( Pic GETTY IMAGINE)

    Boris Johnson’s deal made no provision for exports from the UK overseas territories

    By Teslyn Barkman (*) – In July, a joint communiqué signed in Brussels by 60 European Union and Latin American nations referred to the Falkland Islands as the “Islas Malvinas” despite last-minute attempts by UK foreign secretary James Cleverly to persuade them to drop the reference.

  • Monday, September 4th 2023 - 07:25 UTC

    Uruguay to resume meat exports to Mexico

    “The Mexican market has always been relevant for Uruguayan meat production,” Buffa said

    Uruguay announced the resumption of meat exports to Mexico after three years, with 22 slaughterhouses authorized to sell beef and sheep meat to that country for the next two years, it was reported in Montevideo.

  • Saturday, September 2nd 2023 - 10:05 UTC

    Uruguayan exports suffer 17% YoY drop

    Exports of beverage concentrates and rice did have a positive variation from 2022 figures, the document also showed

    According to a study by consultants Uruguay XXI released Friday in Montevideo, exports from the South American country -duty-free zones included- totaled US$ 1.027 billion in August, which represented a 17% year-on-year drop.

  • Friday, September 1st 2023 - 10:02 UTC

    Unemployment reaches lowest figures since 2015 in Brazil

    Labor Minister Luiz Marinho forecast that Brazil would create 2 million formal jobs this year

    According to a report from Brazil's statistics bureau (IBGE) released Thursday, unemployment in South America's largest country stood at 7.9% (around 8.5 million people) in the second quarter of 2023, the lowest number since 2015 and a 0.6% decrease from the quarter ending in April.

  • Friday, September 1st 2023 - 09:27 UTC

    Lula launches Brazil Without Hunger program

    “I'm obsessed with fighting hunger,” Lula said in Teresina

    President Luiz Inácio Lula da Silva Thursday launched the Brazil Without Hunger program in Teresina, the capital of the State of Piauí, Agencia Brasil reported.