Economy

• Tuesday, January 2nd 2018 - 10:58 UTC

  Brexit: First quarter of 2018, “point of no return” for financial services industry

  

  The clock is ticking for the financial services industry, with banks said to be months away from being forced to act on Brexit contingency plans that could see thousands of jobs leave the UK. The first quarter of 2018 has been dubbed the “point of no return” for banks, insurers and asset managers as the industry calls on the UK to clinch a transition period that would extend market access to the EU beyond March 2019.

• Tuesday, January 2nd 2018 - 10:53 UTC

  Japan prepared to lift its ban on beef imports from Uruguay

  

  Japan is planning to lift a ban on beef imports from Uruguay next year, ending a more than 17-year embargo following the outbreak of foot-and-mouth disease in the South American nation in 2000, according to government sources in Tokyo.

• Tuesday, January 2nd 2018 - 10:20 UTC

  Hyperinflation that degrades any salary increase

  

  A new salary increase arrived to Venezuela -the seventh in a year-, but the purchasing power of Venezuelans continues insignificant compared to the high price of low supply due to hyperinflation. While it is not possible to slow down the variation of prices in the different products of the basic basket, any wage increase is insufficient and exacerbates the problem. In one year, salary increased 511%, while inflation in 2017 closed at 2.735%, the highest in the world.

• Tuesday, January 2nd 2018 - 07:27 UTC

  New Year in Uruguay begins with a raft of goods and services price increases

  

  New Year has taken off in Uruguay with a raft of utilities' rates increases which includes power, fuels, drinking water, telecommunications, urban bus fares, plus extra taxes on tobacco and gambling. Inflation in the twelve months to November was 6.30%.

• Tuesday, January 2nd 2018 - 06:33 UTC

  UK's foreign aid will go to projects that promote government aims and interests

  

  The UK's aid budget will be shifted to projects that promote its interests, the foreign secretary Boris Johnson said underlining the money will be “more sensibly distributed” to support foreign policy aims such as denying safe havens to Islamist militants.

• Tuesday, January 2nd 2018 - 06:20 UTC

  Latin American poverty and extreme poverty rose in 2015/16 following a decade of decline

  

  Poverty and extreme poverty levels rose in Latin America as a regional average in 2015 and 2016, after more than a decade of declines in the majority of countries, while in 2017 they are expected to hold steady, the Economic Commission for Latin America and the Caribbean (ECLAC) said.

• Sunday, December 31st 2017 - 20:47 UTC

  Corruption in Uruguayan government “very much extended”, says opinion poll

  

  Although Uruguay is well positioned internationally when it comes to corruption perception, it is considered among the least corrupt together with Chile in Latin America by Transparency International and LatinoBarometer, a public opinion poll published the last week of 2017 in Montevideo seems to show quite a different perception, particularly among young people.

• Sunday, December 31st 2017 - 10:48 UTC

  IMF report on Argentina: good, but watch out borrowing to finance the budget deficit

  

  The International Monetary Fund (IMF) on Friday raised its outlook for Argentina’s economic growth to 2.8% in 2017, up from 2.5% seen in October, while keeping its forecast for 2018 growth steady at 2.5%.

• Sunday, December 31st 2017 - 10:12 UTC

  Legendary Jumbo phased out from US passenger service

  

  Delta Air Lines was the last company to retire the Boeing 747 to replace it with smaller and more fuel efficient aircraft

• Friday, December 29th 2017 - 10:06 UTC

  Brazil's main stock market, Ibovespa ends the year with a 26.85% increase

  

  Ibovespa, the benchmark stock market index in Brazil, ended the last trading session of the year with a 0.43% rise to 76,402.08 points amid a lack of negative political news and tracking stock markets abroad.