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MercoPress, en Español

Montevideo, July 30th 2025 - 10:54 UTC

Economy

  • Wednesday, November 16th 2016 - 09:51 UTC

    Canadian PM will pay official visits to Cuba, Argentina and attend APEC summit in Peru

    PM Trudeau is looking forward to working with presidents Castro and Macri to stimulate more trade and investment with Canada (Pic AFP)

    Canadian Prime Minister, Justin Trudeau will pay official visits to Cuba and Argentina from November 15 to 18, and will travel to Peru from November 19 to 20 to participate in the 2016 Asia Pacific Economic Cooperation (APEC) Leaders’ meeting.

  • Wednesday, November 16th 2016 - 09:38 UTC

    IMF anticipates a more gradual recovery of the Brazilian economy than forecasted

    Temer has said he will not raise taxes unless reforms fail to pass; IMF directors warned tax hikes may need to wait until the economy is on stronger footing.

    International Monetary Fund's executive board said on Tuesday that the Brazilian economy could be close to pulling out of a grueling recession, but faces a long and bumpy recovery that hinges on the approval of unpopular reforms. In its considerations of the IMF staff's annual report on Brazil, the executive board said that despite the new government's efforts to avoid a fiscal crisis they expected a gradual recovery in Latin America's top economy.

  • Wednesday, November 16th 2016 - 09:16 UTC

    Brazil's annual inflation below 8%; October's 0.26% increase was the lowest since 2000

    With inflation on a downward path, the central bank cut interest rates last month from a decade high to help lift the economy out of a two-year downturn.

    Brazil's annual inflation rate in October fell below 8% for the first time since February 2015, keeping the door open for small interest rate cuts as a deep recession lingers. Prices rose 7.87% in the 12 months through October, down from an annual increase of 8.48% in the previous month, statistics bureau IBGE said.

  • Wednesday, November 16th 2016 - 08:55 UTC

    Brazil and Argentina crop and yield estimates on the increase

    Brazil’s CONAB has raised its soybean production estimate to 103.5 MMT, an increase of 1.9 MMT, and also increased soybean exports by 5 MMT

    Brazil and Argentina production estimates are going up, but hailstorms ruined soybean and corn crops in Argentina’s Santa Fe Province. However, La Niña is forecast to be relatively mild this year, according to NOAA forecasters.

  • Wednesday, November 16th 2016 - 08:47 UTC

    EU farmers on alert at the prospect of increased imports of beef from Mercosur

    ”We expect that countries that we are trading with now, or negotiating with, will take into account this study in moderating their expectations” said Mr Hogan.

    Cheaper imports from Mercosur and the recovering dairy market will push down EU beef production and prices, states in a long-awaited impact study released by the European Union. Dairy and pigmeat exports will see steady gains, says the report, which looked at the cost of 12 pending trade deals on EU agri-food markets.

  • Tuesday, November 15th 2016 - 20:09 UTC

    World cereal production remains strong; summer 2017 crops in South America expected to expand

    The Russian Federation's wheat output is now anticipated to set a new record, while favorable weather is also boosting yield prospects in Kazakhstan

    World cereal production for 2016 should amount to 2 571 million tonnes, up marginally from FAO's October forecast and 1.5% above the 2015 output. The updated figure, released Monday in the Cereal and Supply Demand Brief, reflects a substantial upgrade of the outlook for world wheat production, which is now expected to rise to 746.7 million tonnes, a 4.3 million increase from FAO's October forecast.

  • Tuesday, November 15th 2016 - 11:07 UTC

    Shell planning to invest US$ 10bn in Brazil's deep water production

    Shell held a series of investor presentations in Brazil, and Chief Executive Ben van Beurden was received by president Temer in Brasília

    Oil major Shell is planning to continue investing heavily in Brazil as part of a bid to double its global deep water production by the early 2020s. Shell plans to invest US$10 billion over the next five years, Wael Sawan, the company’s executive vice president for deep water, said in an interview this week.

  • Tuesday, November 15th 2016 - 09:40 UTC

    ANCAP's Carboclor sinks deeper, goes after sale or merger

    : Things going from bad to worse for ANCAP's Carboclor in Argentina

    Losses increase from US $ 9 million by mid year to US $ 14 million in September due to contraction of domestic demand, the fall in international prices and the percentage of ethanol cut in gasolines.Carboclor, ANCAP's subsidiary in Argentina, shows no sign of recovery in its most recent balancesheet as production fell below “normal levels” caused by financial shortcomings which in turn led to a decrease in the inflow of raw materials to the refinery in Campana in the province of Buenos Aires. Shutting down the plant for 25 days is being considered as a partial solution.

  • Tuesday, November 15th 2016 - 09:02 UTC

    Trump promises Argentina, a great country, “the closest relation in history”

    “Argentina is a great country and we will have the closest relation between our countries in history”, Trump was quoted, according to the Casa Rosada release.

    “Argentina is a great country” and Argentina and the US will have “the closest relation in history”, according to the official version from the administration of president Mauricio Macri who on Monday was on the phone with president elect Donald Trump to congratulate him on his presidential victory.

  • Monday, November 14th 2016 - 08:36 UTC

    Chile connects Latin America's largest solar plant to the national grid

    The El Romero Solar plant in Chile features 776,000 photovoltaic modules.

    Spanish clean energy company Acciona Energía has connected the 246MW El Romero solar plant in Atacama desert, Chile to the county’s Interconnected Central System (SIC), becoming Latin America's largest. The US$343m El Romero Solar plant features 776,000 polycrystalline silicon photovoltaic modules, spread across 280ha area in the municipality of Vallenar, 645km north of the Santiago.