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MercoPress, en Español

Montevideo, January 29th 2026 - 22:58 UTC

Economy

  • Tuesday, April 24th 2018 - 08:42 UTC

    Brazil poised for historic oil boom

    A range of analyst and oil company estimates put the breakeven price for pre-salt fields at less than US$ 40 per barrel compared to US$ 45 seven years ago.

    By Mathew Smith<br />
    <br />
    After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.

  • Tuesday, April 24th 2018 - 08:31 UTC

    Japanese manufacturers insist on a single market for its UK investments

    Japan’s ambassador to the UK Koji Tsuruoka, said Japanese firms are watching negotiations and will want to continue to be located in the single market

    Britain will not get a Brexit deal better than the current single market, Japan’s ambassador to the UK has said. Koji Tsuruoka, who took up the role just over a fortnight before the referendum in June 2016, said Japanese firms are watching negotiations and will want to continue to be located in the single market after next March.

  • Tuesday, April 24th 2018 - 08:00 UTC

    Crucial week for Theresa May who insists that “we are leaving the customs union”

    Following a defeat in the House of Lords over the customs union vote after Brexit, the Prime Minister and her team are reported to be having a rethink.

    British Prime Minister Theresa May could bow to Parliamentary pressure to keep Britain in a customs union with the European Union after Brexit. Following a defeat in the House of Lords and reports that a number of Tory MPs will vote in favor of membership in the Commons, the Prime Minister and her team are reported to be having a rethink.

  • Tuesday, April 24th 2018 - 07:22 UTC

    IMF forecasts Argentina will grow 2% this year because of the drought and fiscal shortcomings

    Central Bank Governor Federico Sturzenegger has indicated that if the inflation rate stays high, interest rates will be going back up in order to meet the 15% target.

    The International Monetary Fund’s (IMF) World Economic Outlook update for April 2018 has reduced its expectations of growth for Argentina this year, and its projected annual inflation rate largely exceeds the 15% goal set by president Mauricio the Macri administration in December 2017.

  • Monday, April 23rd 2018 - 09:22 UTC

    China and South Korea seek trade agreements with Mercosur

    South Korean PM Lee Nak-yon in March agreed with Brazilian President Michel Temer to start formal negotiations for a SK/Mercosur free trade deal by June

    China and South Korea are seeking to establish free trade agreements with Mercosur in a strategic response to Washington's increasingly protectionist stance. The East Asian initiatives have resonated well in a region where Washington is keeping its distance. U.S. President Donald Trump has not visited a single Latin American country since taking office in January 2017, and chose not to attend the Summit of the Americas, which recently concluded in Peru.

  • Monday, April 23rd 2018 - 09:08 UTC

    EU and Mexico reach new trade agreement: tariff cuts for European cheese and pork

    “Mexico joins Canada, Japan and Singapore as partners willing to work with EU in defending open, fair and rules-based trade,” said EC Jean-Claude Juncker.

    The European Union and Mexico reached an agreement on Saturday on a new free trade deal, a coup for both parties in the face of increased protectionism from the United States under President Donald Trump. Since its plans for a trade alliance with the United States were frozen after Trump's election victory, the EU has focused instead on trying to champion open markets and seal accords with other like-minded countries.

  • Monday, April 23rd 2018 - 08:41 UTC

    Bank of England likely to raise interest rates twice in 2018 and 2019

    UK interest rates currently stand at 0.5%. Many economists believe that the Bank's Monetary Policy Committee, will vote for a 0.25% rate rise at its May meeting.

    The Bank of England is likely to raise interest rates twice this year and twice in 2019, despite a sluggish economy, says a forecasting body. Bank governor Mark Carney has said a rate rise is “likely” this year, but any increases will be gradual.

  • Monday, April 23rd 2018 - 08:37 UTC

    Speed of recovery, the main debate on the Brazilian economy

    “I don’t know if you saw, but Brazil was one of the countries for which the IMF most intensely changed its growth forecast,” central bank chief Ilan Goldfajn said

    Brazil's policy makers welcomed an upward revision of the country's growth by the International Monetary Fund, while downplaying the fact its estimate remains lower than others.

  • Sunday, April 22nd 2018 - 13:08 UTC

    FAAlling standards: Is air travel still safe?

    Picture of the exploded engine after the plane landed safely. (AP)

    Within one week, 60 Minutes broadcasted an exposé on Allegiant Air’s poor safety record – and Southwest Airlines blew an engine at 30,000 feet. Throw in years of Boeing 787 engine troubles- which have affected Norwegian Airlines, Air India and others – and a lot of questions are raised:

  • Friday, April 20th 2018 - 09:51 UTC

    European Court of Justice rules airlines must compensate passengers for delays and cancellations

    From now on, airlines must compensate their passengers with up to US$ 700 per person if they were affected by flight delays or cancellations due to strikes by staff

    The European Court of Justice in Luxembourg ruled that airlines must compensate their passengers for flight delays and cancellations, even though the reason for this was a strike by airline staff. The airlines are now facing a wave claims, because this ruling applies to all previous airline strikes and new ones.