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MercoPress, en Español

Montevideo, April 29th 2026 - 04:59 UTC

Economy

  • Thursday, October 27th 2016 - 04:21 UTC

    Reshuffle in the Tata Group; selection committee to look for a new CEO

    Mistry has led the company, which owns Tata Steel, since late December 2012. He was the first chairman to be appointed from outside the family for 70 years.

    The board of Tata Sons, the holding company of the Tata Group, has unexpectedly replaced Cyrus Mistry as chairman. Ratan Tata has been named as interim chairman while a selection committee finds a permanent replacement.

  • Thursday, October 27th 2016 - 03:29 UTC

    Lowering interest rates in Brazil will be “moderate and gradual”, says Central bank

    Lower interest rates and inflation rates are expected to help return to growth: a relief to unpopular President Temer and to 12 million unemployed workers.

    Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.

  • Thursday, October 27th 2016 - 01:42 UTC

    Epic cheese glut in US; farmers dumping milk into lagoons

    This cheese surplus has been disastrous for dairy producers and farmers, whose incomes have dropped 35% over the past two years as prices have collapsed.

    The United States is currently in the midst of an epic cheese glut — with 1.2 billion pounds of cheese sitting in cold storage. This in practical terms means every man, woman, and child would have to grab an extra three pounds chair. That’s over and above the 36 pounds of cheese per year the average American already eats.

  • Thursday, October 27th 2016 - 01:23 UTC

    Tierra del Fuego PC assembly industry at risk if import tariffs (35%) are lowered

    The head of the Argentine chamber of Electronic, Electro-mechanic and Lumino-technical industries , Jose Luis Cavanna warned that there are 12.000 jobs at risk

    A new challenge for Tierra del Fuego province and its industrial promotion scheme: the Argentina government is planning to eliminate all tariffs on the import of computers and components beginning 2017, which is estimated could cost anywhere from 4.000 to 12.000 jobs.

  • Wednesday, October 26th 2016 - 10:57 UTC

    PM Theresa May and Scotland´s First Minister Sturgeon clash over Brexit

    “We had a very frank exchange of views. I don’t mind admitting large parts of the meeting were deeply frustrating,” Ms Sturgeon said

    British PM Theresa May and Scotland’s First Minister clashed at a Downing St Brexit summit dominated by a “very frank exchange of views”, Nicola Sturgeon revealed. Ms Sturgeon branded a warning from Number 10 that the devolved administrations must not try to undermine the UK’s negotiating position as “nonsense” as she labelled the talks between the PM and the leaders of Scotland, Wales, and Northern Ireland, as “deeply frustrating”.

  • Tuesday, October 25th 2016 - 12:20 UTC

    Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

    The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said at the Rio Oil and Gas conference.

    President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference.

  • Tuesday, October 25th 2016 - 10:29 UTC

    Macri and Vazquez agree that the trade approach to China should be done from Mercosur

    Macri said that his government understands Uruguay´s need to have access to other markets and open to the world's second largest economy.

    Argentine president Mauricio Macri promised his Uruguayan peer Tabare Vazquez to look into the draft of a Uruguay/China free trade deal, and expressed their deep concern about political events in Venezuela suggesting that under the current circumstances the Nicolas Maduro government cannot be considered a member of Mercosur.

  • Tuesday, October 25th 2016 - 09:07 UTC

    Petrobras and Total reach strategic alliance for upstream and downstream projects

    “This is a far greater level of cooperation between Total and Petrobras than you usually get in the oil industry,” stated the Total release

    Brazil's Petrobras and France's Total oil companies announced on Monday a strategic alliance Monday for upstream and downstream projects as President Michel Temer pronounced Brazil's troubled economy reopened for business.

  • Monday, October 24th 2016 - 18:11 UTC

    First Mercosur test for Uruguay´s free trade agreement negotiations with China

    President Vazquez and several ministers will meet with Macri(L)i in Buenos Aires to discuss an agenda of common interests

    Uruguay and Argentina, and their cabinets will be meeting this Monday in Buenos Aires to address a bilateral agenda, which was agreed long before hand, but the real issue will not necessarily be trade, dredging canals, pulp mills, customs or facilitating people's movement, but rather the negotiations for a free trade agreement which supposedly Uruguay is about to begin discussing with China.

  • Monday, October 24th 2016 - 17:43 UTC

    Billions pour in to buy Argentine bonds, “sign of growing investor confidence”

    The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”

    Argentina’s international currency reserves rose above the landmark US$40 billion for the first time in three and a half years last Friday, as a huge inflow of dollars from government-issued debt and some exports over the last few days caused some dramatic increases this week. The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”