Economy

• Saturday, November 19th 2016 - 20:27 UTC

  Robots and “reshoring” threaten millions of jobs in developing countries

  

  The increased use of robots threatens millions of jobs in developing countries, by undermining the advantage of low wages and facilitating the “reshoring” of industries back to industrialized countries, according to a new policy brief from UNCTAD.

• Saturday, November 19th 2016 - 18:39 UTC

  Buenos Aires admits poor cruise season because of past mistakes

  

  Buenos Aires cruise season has taken off but it will be far from its peak in 2012/13 when over half a million visitors reached the Argentine capital. This season will only see 81 calls with 323.000 visitors of which 70% foreigners, according to local port authorities.

• Saturday, November 19th 2016 - 08:52 UTC

  Fuel shortages feared in Uruguay due to lorry drivers' strike

  

  The lorry drivers' strike already under way in Uruguay, which broke up as a conflict between freight carriers and the agriculture sectors, may have its impact on the distribution of car petrol, warns Mauro Borzzaconi of the trucking association.

• Friday, November 18th 2016 - 11:47 UTC

  Uruguay with IDB support plans to invest US$600 million in rural roads network

  

  Uruguay plans to improve the rural roads network of the 18 department governments with support from two credit lines for an investment project totalling US$600 million with two initial loans completing US$150 million from the Inter-American Development Bank (IDB). The funds will support the implementation of rural roads construction in agriculture production areas, and will also be geared to improve and strengthen fiscal management and services at the departmental government level.

• Friday, November 18th 2016 - 11:42 UTC

  Latin American exports downward trend is greater than in the rest of the world

  

  Following two years in a downward trend the value of Latin American exports fell 14.8% in 2015, and 8.5% in the first seven months of 2016, according to the Trade and Integration Monitor 2016 of the Inter-American Development Bank. Services exports, which had partially compensated the fall in merchandise trade in previous years, contracted 2.4% in 2015, the first time since the 2009 financial crisis.

• Friday, November 18th 2016 - 09:36 UTC

  Argentina and Canada allies in supporting free trade and combating protectionism

  

  Argentine president Mauricio Macri and Canadian Prime Minister Justin Trudeau took direct aim on Thursday at the walls of protectionism set to be erected around the United States, saying that freer trade is the best way to pull their countries out of economic uncertainty. The two leaders said there is real anxiety that progress and global trade have resulted in people being left behind or children being robbed of the same opportunities afforded their parents and grandparents.

• Friday, November 18th 2016 - 09:15 UTC

  Yellen intends to remain her four-year term; anticipates rate increase “relatively soon”

  

  The United States Federal Reserve chair Janet Yellen told Congress on Thursday that she is not stepping down. Her statement follows on strong attacks during the campaign from president elect Donald Trump who claimed the Fed was favoring president Barack Obama and candidate Hillary Clinton with its low interest rate policy.

• Friday, November 18th 2016 - 08:27 UTC

  Trump-nomics: Speculation iPhones could soon be manufactured in the US

  

  iPhones might soon be made in the U.S., a result of Donald Trump’s win on Election Day, according to Nikkei Asian Review report. Hon Hai Precision Industry, also known as Foxconn Technology Group, a main Apple assembler, has allegedly been looking into the possibility of making iPhones in the United States, sources revealed to Nikkei.

• Thursday, November 17th 2016 - 09:21 UTC

  Argentina unable to lower crude imports depite Minister Aranguren's preferences

  

  Despite Energy Minister Juan José Aranguren's plans, Argentina will end up importing in 2016 almost as much crude as in 2015. Freighters from Nigeria and Angola reported to be on their way with some 3 million barrels.

• Thursday, November 17th 2016 - 09:10 UTC

  Argentina's central bank cuts benchmark rate despite Peso's depreciation

  

  Argentina's central bank cut its benchmark interest rate for the second time in two weeks in a surprise move amid market expectations it would hold steady after a high inflation reading and U.S. elections last week.