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MercoPress, en Español

Montevideo, July 6th 2026 - 10:03 UTC

Economy

  • Saturday, August 5th 2017 - 06:54 UTC

    Standard Chartered moves European base to Frankfurt because of Brexit

    German's strong credit rating informed the bank's location choice, said chief executive Bill Winters. The bank has about 100 staff in Frankfurt currently.

    Standard Chartered is set to spend about US$20m to turn its Frankfurt office into a European base due to Brexit. The bank plans to create a subsidiary at its German branch to maintain access to the European market after Britain withdraws from the European Union.

  • Friday, August 4th 2017 - 11:27 UTC

    Latam and Caribbean forecasted to expand 1.1%, but South America, 0.6%

    ”Financial policy must target credit stabilization and a monetary policy that supports investment, beyond instruments such as interest rate,” Alicia Bárcena said

    Latin America and Caribbean countries will grow 1.1% on average in 2017 after two consecutive years of contraction, thanks to an international context that shows improved growth expectations despite geopolitical risks, and better prices for the commodities that the region exports, according to a new annual report that ECLAC presented on Thursday in Santiago, Chile.

  • Friday, August 4th 2017 - 08:35 UTC

    Brexit uncertainty pounding the economy says Bank of England governor

    ”It's evident...that uncertainties about the eventual relationship (with EU) are weighing on the decisions of some businesses”, said Mark Carney

    The governor of the Bank of England has warned that uncertainty over Brexit is already weighing on the economy. Mark Carney's comments came as the Bank voted to hold rates and cut growth forecasts. It edged this year's growth forecast down to 1.7% from its previous forecast of 1.9% made in May and also cut the forecast for 2018 from 1.7% to 1.6%.

  • Friday, August 4th 2017 - 08:22 UTC

    Falkland Islands issues four colorful coins featuring King penguins

    The seven-sided coin with a vivid color application features a large, adult male king penguin with his smaller female companion lovingly touching their beaks.

    The government and treasury of the Falkland Islands have issued (24th July) their latest coin in their hugely popular series of four coins highlighting the wonderful world of penguins—a species of bird found in significant numbers in the South Atlantic.

  • Friday, August 4th 2017 - 07:08 UTC

    Venezuela diverting oil to Russia's Rosneft, ignoring contracts in the US

    Venezuela's oil output has declined since 2012 with the fall accelerating this year amid a lack of investment and payment delays to suppliers.

    Venezuela's state-run PDVSA has reduced crude sales to its U.S. refining unit Citgo Petroleum while increasing supply to Russia's Rosneft, following a plan signed in May to catch up on overdue deliveries, according to PDVSA documents, sources from the company and its joint ventures.

  • Thursday, August 3rd 2017 - 23:38 UTC

    Qatar files a complaint to WTO on the trade embargo imposed by Gulf neighbors

    The complaint filed with the WTO includes a request for “formal consultations” between Qatar and its neighbors. (Pic Reuters)

    Qatar has filed a complaint with the World Trade Organization over a trade embargo imposed by its Gulf neighbors. The complaint accuses Saudi Arabia, Bahrain and the United Arab Emirates of violating the trade group's “core laws and conventions on trade of goods and services, and trade-related aspects of intellectual property,” according to a statement from Qatar's ministry of economy and commerce.

  • Thursday, August 3rd 2017 - 23:14 UTC

    Brazilian economy struggling to climb out of deep recession

    Unemployment rate fell to 13% in the second quarter of 2017, reaching the lowest level of the year. The jobless rate was below the previous quarter (13.3%)

    Brazil revealed mixed economic reports: record trade surplus, slight drop in unemployment and a stable industrial output. The July trade surplus was US$6.298, according to government data. Exports totaled US$18.769 billion and imports US$12.471 billion. This follows a surplus of US$7.195 billion in June.

  • Thursday, August 3rd 2017 - 15:38 UTC

    Wall Street breaks the 22.000 mark for the first time

    Analysts said despite the euphoria from the Dow’s fresh record, investors were still watching the US Federal Reserve’s plan to unload its balance sheet

    Asian markets paused for breath Thursday after Wall Street smashed through 22,000 for the first time, with regional traders focused on fresh clues on the health of the US economy. Strong Apple earnings propelled the Dow above the barrier to mark its sixth straight record close — but the tech-heavy Nasdaq closed marginally lower.

  • Thursday, August 3rd 2017 - 08:02 UTC

    Post-Brexit triggers whisky industry controversy in Scotland

    Mundell said that identifying new markets and tackling tariffs, UK government is paving the way for an even brighter future for Scotland's whisky industry.”

    With whisky boosting the UK economy by about £5 billion a year, Scottish Secretary David Mundell said ministers are keen to open up new markets around the world for the iconic drink. He spoke out ahead of a meeting on the island of Islay, in the Hebrides, which is home to several distilleries.

  • Thursday, August 3rd 2017 - 06:50 UTC

    Hammond and Macri agree to expand trade, investment and building closer links

    President Macri and Chancellor at the Olivos residence

    Argentine president Mauricio Macri received on Wednesday Chancellor of the Exchequer Philip Hammond, who had anticipated the purpose of the visit was to deepen UK-Argentine economic partnership and address political issues of common interest, such as the 2018 G20 summit and Argentina's aspiration to join OECD.