Economy

• Thursday, July 6th 2017 - 10:17 UTC

  Soybeans and corn record crops challenge Brazil's storage capacity

  

  Brazilian farmers are discovering a serious obstacle to becoming one of the world’s top producers of soybeans: they’re running out of room to store all the unsold supply. The biggest harvest in the country’s history is poised to leave domestic inventories at a record, data from the processors’ group Abiove show.

• Thursday, July 6th 2017 - 06:57 UTC

  Brazilian plan to review purchase of Bolivian natural gas

  

  Petrobras should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.

• Thursday, July 6th 2017 - 06:42 UTC

  Petrobras awards pipeline inspection services contract to Fugro and its new vessel

  

  Netherlands Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.

• Wednesday, July 5th 2017 - 20:52 UTC

  Brazilian industrial output grows for a second month during May

  

  Industrial output in Brazil rose for a second straight month in May, government data showed on Tuesday, underpinning hopes that the economy will not fall back into recession despite an escalating political crisis.

• Wednesday, July 5th 2017 - 07:30 UTC

  Britain's growth prospects downgraded because of “newly created uncertainty”

  

  Economists have downgraded Britain’s growth prospects in the wake of political uncertainty following the general election and as a prolonged Brexit drag on business investment looms. New forecasts by the Centre for Economics and Business Research (Cebr) show that the UK economy will grow by just 1.3% in 2017, a substantial downward revision from an earlier forecast of 1.7%.

• Wednesday, July 5th 2017 - 03:31 UTC

  Brazil records brand new car sales recovery in first half of 2017

  

  The sale of brand new cars in Mercosur giant Brazil went up 3.65 percent in the first half of 2017 compared to the same period of 2016 and crossing the psychologically significant 1-million-unit mark, according to auto industry sources. Brazil has been a traditional top-10 global market for cars.

• Wednesday, July 5th 2017 - 02:29 UTC

  Tabaré Vázquez concerned about Mercosur's political volatility

  

  Uruguayan President Tabaré Vázquez Tuesday said that there are many internal problems in the countries that make up Mercosur, but that he was also “confident” that the main achievement this year will be the free trade agreement with the European Union.

• Wednesday, July 5th 2017 - 01:34 UTC

  Tobacco 2017 harvest a boost for Cuban economy

  

  Cuba's economy is to receive a significant boost from one of its main industries, as tobacco leaf production reached 19,000 tonnes this year, the best harvest of the last decade, it was announced Tuesday in Havana. The figure represents success, but it is still far below the 30,000 tonnes from early estimates.

• Wednesday, July 5th 2017 - 01:15 UTC

  Macri tries to calm down Argentines as US dollar goes up

  

  Argentine President Mauricio Macri Tuesday said Argentines should “not worry about the dollar,” as the US currency rose 13 cents, closing at AR$ 17.18. It will “benefit regional economies and job creation,” he added during a radio interview.

• Tuesday, July 4th 2017 - 02:57 UTC

  Announcement in Madrid: EU-Mercosur deal likely by end of year

  

  European Union (EU) Trade Commissioner Cecilia Malmström said Monday in Madrid that the EU bloc “hopes to announce a political agreement for this Christmas in Buenos Aires” with Mercosur “even though technical aspects remain to be discussed.”