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MercoPress, en Español

Montevideo, July 20th 2025 - 00:01 UTC

Economy

  • Friday, May 20th 2016 - 10:05 UTC

    Macri in the threshold of a major political storm over a possible veto of a labor bill

    The veto of the bill is expected to be announced by Macri on Friday morning at a poultry complex which has received government support to ensure jobs.

    Argentine president Mauricio Macri is expected to veto a controversial labor bill which was approved early Thursday after a marathon session in the Lower House of Congress. The bill passed with 147 votes in favor, 3 votes against it and 88 abstentions includes the declaration of the employment emergency during 180 days and a double compensation in the event of layoffs, for a period of six months.

  • Friday, May 20th 2016 - 06:48 UTC

    Argentina reassures China bilateral cooperation remains a priority for the Macri administration

    After a meeting with her Chinese counterpart Wang Yi, Argentine Foreign Minister Susana Malcorra said investment projects with China would go ahead.

    Argentina on Thursday sought to reassure China that bilateral cooperation remained a priority for its new government amid growing concerns over political changes in the South American country. After a meeting with her Chinese counterpart Wang Yi, Argentine Foreign Minister Susana Malcorra said investment projects with China would go ahead.

  • Thursday, May 19th 2016 - 12:15 UTC

    Monsanto threatens to leave Argentina on a seeds' inspection dispute

    The US company issued a statement saying it was ‘disappointed‘that talks with the Argentine government had not yielded an agreement on the inspection issue.

    The seeds' multinational Monsanto Co. said it would suspend future soybean technologies in Argentina, a move that could limit output of the country’s main cash crop, after a disagreement with the government over inspections of genetically modified soybeans.

  • Thursday, May 19th 2016 - 12:02 UTC

    Minutes show Fed could be ready for an interest rate in June

    The suggestion that a rate increase in June is firmly on the table suggests the Fed is closer to tightening monetary policy again

    Federal Reserve officials consider the United States economy could be ready for another interest rate increase in June, according to the minutes from the central bank's April policy meeting released on Wednesday. Most participants in the policy-setting committee's April 26-27 meeting said they wanted to see signs that economic growth was picking up in the second quarter and that employment and inflation were firming, the minutes showed.

  • Thursday, May 19th 2016 - 06:33 UTC

    Falklands' Rockhopper announces double contingent oil reserves: over 300m barrels

    Rockhopper owns more than 50% of two oilfields, Sea Lion and Isobel Elaine, which are now estimated to hold 747 million barrels of oil and gas reserves

    Falkland Islands oil and gas producer Rockhopper Exploration Plc has announced that its net contingent oil reserves have doubled to more than 300 million barrels, and independent experts are now eyeing this as nearly billion-barrel basin.

  • Wednesday, May 18th 2016 - 12:21 UTC

    Petrobras: Temer pledges judicial independence and respect for prosecutors nomination process

    Temer told Globo TV he would maintain the tradition of nominating the candidate chosen by the corps of prosecutors

    Brazil's interim president, Michel Temer said he would continue a tradition of nominating a prosecutor general who comes recommended by peers, allaying concerns about judicial independence. Justice Minister Alexandre de Moraes, sworn in last week as part of Temer's new government, told the Folha de S.Paulo newspaper in an interview that the prosecutor general of Brazil could be selected at will by the president.

  • Wednesday, May 18th 2016 - 12:07 UTC

    Argentina forecasted to increase wheat area by 25% for a 15/16 million tons crop

    Argentina, the world’s 10th biggest wheat exporter, shipped 3.13 million tons of the grain in the first quarter of 2016 versus 1.53 million in the same 2015 period

    Argentine wheat exports more than doubled in the first quarter, government data showed, as farmers rushed to sell stockpiles ahead of an expected jump in plantings spurred by the open-market policies of new President Mauricio Macri. The surge in Argentine supply is hitting an oversaturated world market and putting downward pressure on wheat prices already near their lowest levels in six years.

  • Wednesday, May 18th 2016 - 11:32 UTC

    US economy good news: inflation reaches 1.1% and housing starts rise 6.6%

    Commerce Department figures showed housing starts rose by 6.6% in April to a seasonally adjusted annual pace of 1.17 million units.

    US consumer prices rose at their fastest pace in three years in April as energy prices climbed, figures show. The Labor Department's Consumer Price Index rose 0.4% last month, the biggest one-month increase since February 2013.

  • Wednesday, May 18th 2016 - 10:54 UTC

    Chile celebrates best cruise season in seven years

    The milestone of the season was the return of Norwegian Cruise Line, with the Norwegian Sun, and 40 calls in Chilean ports and an estimated 100.000 visitors.

    Chile reports that this last cruise season (October 2015/April 2016), has been the best in seven years, according to the Southern Cone Ports Corporation, with a 47% increase in the number of vessel calls and 43% in landed passengers, compared to 2014/2015.

  • Wednesday, May 18th 2016 - 06:01 UTC

    Orthodox economist Goldfajn confirmed as Brazil's central bank governor

    Ilan Goldfajn, chief economist of Itau Unibanco Holding, will replace Alexandre Tombini as central bank governor. Senate must ratify Goldfajn's appointment.

    Brazil's interim government on Tuesday confirmed the lead economist of the country's largest private bank to head the central bank, in a further shift away from the interventionist policies that many blame for deep recession and near double-digit inflation.