Economy

Friday, December 30th 2016 - 17:36 UTC
The 100 Bolivar notes refuse to die: Maduro extends their use until January 20

Venezuelan President Nicolas Maduro says his government will extend the use of 100-bolivar notes to January 20, after a plan to withdraw those bills from the economy sparked protests across the country and widespread looting.
Friday, December 30th 2016 - 17:27 UTC
Argentina beef exports begin to pick up and could reach US$ 1bn this year

Argentina's beef exports totaled 193,000 tons between January and October, up 10% from the same period last year, the government said, a year after it rescinded export taxes and restrictions.
Friday, December 30th 2016 - 17:18 UTC
Brazil's unemployment rate reaches a record high of 11.9%: this means 12.1m out of a job

Brazil's unemployment rate from September to November reached a record high of 11.9%, the country's statistics agency IBGE said. This new rate is a significant year-on-year hike over the same period in 2015, when it stood at 9%.
Friday, December 30th 2016 - 17:15 UTC
Temer will not bail out heavily indebted Brazilian states

After months of bailing out Brazil's most iconic city and state, Rio de Janeiro will not be getting their debts renegotiated anytime soon. Brazil president Michel Temer said he will veto plans to renegotiate loans with Rio, Minas Gerais and Rio Grande do Sul states. All three states are economic powers of Brazil and have fallen on hard times over the last three years.
Friday, December 30th 2016 - 17:12 UTC
Brazilian banks drastically cutting costs to lower interest rates

The Brazilian government has not pressured state-run banks to free up credit and reduce their spread, but interest rates are likely to fall as the central bank's benchmark Selic rate continues to drop, state-controlled Banco do Brasil Chief Executive Officer Paulo Rogerio Caffarelli said.
Friday, December 30th 2016 - 02:14 UTC
Argentine gov't rules free internet access must be available at all top class airports

Through Resolution 109/2016 of the Regulatory Agency of the National System of Airports (Orsna), published Thursday in the Official Gazette, the supply of ”Wireless Internet Provision Service Standard (WIFI) at Group A airports” became mandatory.
Thursday, December 29th 2016 - 06:07 UTC
ANCAP company in Argentina seeks bankruptcy reorganization proceedings

Uruguayan oil company ANCAP announced Wednesday through a press release that one of its companies, Carboclor S.A., based in Argentina, had turned to the courts to start the reorganization proceedings, known in Argentinian law as “Concurso Preventivo,” which is very similar to the United States' “Chapter Eleven” bankruptcy mechanism.
Wednesday, December 28th 2016 - 21:16 UTC
“Real opportunities” from Brexit forecasts ex Bank of England governor

Lord King, the former governor of the Bank of England, has said that the UK should be “self-confident” about leaving the European Union since there were “real opportunities” for economic reform and new trade deals which meant Brexit could be a success. He highlighted agricultural reform and a developing relationship with the Republic of Ireland as areas where the UK could be positive.
Wednesday, December 28th 2016 - 19:20 UTC
Petrobras/Total partnership; French company plans US$ 1bn annual investments

The Brazilian unit of French energy giant Total SA in Brazil, Total E&P do Brasil, plans annual investments of US$1 billion in Latin America’s largest economy, Valor Econômico quoted Maxime Rabilloud, who heads the Brazilian operation. Rabilloud said Total and Petrobras will keep in contact regarding the possibility of making other deals and forging future partnerships.
Wednesday, December 28th 2016 - 18:41 UTC
UK ambassador to Uruguay, Ian Duddy presents his diplomatic credentials

British ambassador in Uruguay Ian Duddy, on Monday, made the official presentation of his diplomatic credentials to President Tabaré Vázquez, thus completing the formalities of his post.