Economy

• Friday, December 29th 2017 - 09:38 UTC

  Argentina's Merval breaks the 30.000-point barrier and ends 2017 gaining 77%

  

  Merval, the benchmark stock market index in Argentina, ended Thursday's last trading session of 2017 above the 30,000-point barrier for the first time in history. The index rose 2.84% to 30,024.24 after the local government increased the inflation target for the next couple of years, but reinforced its commitment to lower fiscal deficits in the future.

• Friday, December 29th 2017 - 09:32 UTC

  Argentina increases inflation targets for 2018/19, closer to private estimates

  

  Argentina changed its inflation target for 2018 to 15%, up from the central bank’s previous goal of 8-12%, Treasury Minister Nicolas Dujovne said on Thursday, raising expectations for interest rate cuts. The government will postpone by one year its goal of lowering inflation to 5%, pushing it back to 2020, Dujovne said.

• Thursday, December 28th 2017 - 10:30 UTC

  Argentine Senate approves tax reform and 2018 budget; economy expanded 0.2% in October

  

  Argentina’s Senate on Wednesday gave final approval to the government’s tax reform and 2018 budget plan, part of President Mauricio Macri’s push to cut business costs and attract investment to Latin America’s No. 3 economy.

• Thursday, December 28th 2017 - 10:18 UTC

  Argentina's stock market Merval has gained around 75% in the last twelve months

  

  Merval, the benchmark stock market index in Argentina, rose 0.25% to 29,260.33 on Wednesday, reflecting investor optimism that the Senate would pass the 2018 budget and a tax reform. It was the seventh consecutive increase of the index.

• Thursday, December 28th 2017 - 10:15 UTC

  YPF reaches agreement and will pay US$ 114m on a conflict from 2009

  

  Argentina's state-owned oil company YPF will pay US$ 114 million to Transportadora de Gas del Mercosur (TGM) to end a conflict that began in 2009 when the company suspended the shipment of natural gas.

• Thursday, December 28th 2017 - 10:03 UTC

  Brazil creates National Mining Agency to promote and regulate the industry

  

  Brazil's President Michel Temer has approved a law to create a National Mining Agency (ANM), according to a statement published in Wednesday's edition of the country's official gazette.

• Thursday, December 28th 2017 - 09:59 UTC

  Parliament demands release of studies on potential impact of Brexit on the economy

  

  The United Kingdom government is facing new calls to release confidential studies drawn up by officials looking at the potential impact of Brexit on the economy. Twenty-five Labour MPs have written to Chancellor Philip Hammond calling on him to release the material after he disclosed the work was being carried out during a recent session of the Commons Treasury Committee.

• Thursday, December 28th 2017 - 09:44 UTC

  Latin America has started to look seriously at Indian economy and opportunities By R. Viswanathan  

  

  Latin America's GDP growth is projected to increase to 2.2% in 2018 from 1.3% in 2017. The Pink Tide  has receded for the moment, giving rise to more centre right governments in the region. In 2018, Brazil, Mexico, Colombia, Costa Rica, Paraguay and Venezuela will have presidential elections. Venezuela’s political and economic tragedy could get worse.

• Thursday, December 28th 2017 - 09:24 UTC

  Brazil suspends fish exports to the EU over inspection discrepancies

  

  Brazil said it was suspending fish exports to the European Union in response to concerns raised by Brussels' veterinary inspectors. The move was aimed at preventing the EU itself from ordering a suspension, said Luis Rangel, the secretary of state in charge of fisheries.

• Wednesday, December 27th 2017 - 14:54 UTC

  Gasoline, another kind of business in Venezuelan scarcity

  

  It is paradoxical how a country with the largest oil reserves in the world has a shortage of gasoline. Of course, Venezuela does not produce gasoline as such, but sells crude oil and imports gasoline, so with the sanctions imposed by various nations and the very crisis that PDVSA (State Company) suffers - which according to the unions works approximately 13% of its capacity- complicate the problem.