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MercoPress, en Español

Montevideo, July 18th 2025 - 08:31 UTC

Economy

  • Wednesday, April 13th 2016 - 05:15 UTC

    Companies with World Bank credits in Africa are linked to tax havens, claims Oxfam

    The Oxfam report showed that World Bank’s private lending arm lent money to 68 companies in 2015 for investments in Africa, 51 of the 68 companies use tax havens

    A report by the civil society network Oxfam has found, about 84% of the dollars invested in sub-Saharan Africa in 2015 by the International Finance Corporation (IFC), the private sector arm of the World Bank Group, went to companies with presence in at least one tax haven.

  • Wednesday, April 13th 2016 - 05:03 UTC

    Ecuador signs US$ 1 billion investment deals to boost oil production in existing fields

    Petroamazonas signed a contract with Pañaturi consortium, made up of China’s Sinopec International and Sinopec Service Ecuador

    Ecuadorian state-owned energy firm Petroamazonas EP, which is looking to boost production at nine of its existing oil fields and on Monday signed a series of investment deals amounting to US$ 1 billion for those areas, enlisting the help of both domestic and foreign companies.

  • Tuesday, April 12th 2016 - 22:18 UTC

    Punta Arenas cruise season: 29% increase in the number of visitors landings

    The number of cruise vessel calls this season increased from 48 to 54. During the 2014/15 season, the number of cruise visitors landed was 78.908.

    Almost 30% more cruise visitors landed in Punta Arenas, extreme south of Chile, during the current 2015/16 season which is coming to an end. According to Chile's maritime migration officers, 109.746 cruise passengers and crew members were recorded, which represents a 29% compared to the previous season. The primary report was released by La Prensa Austral.

  • Tuesday, April 12th 2016 - 22:07 UTC

    EU farmers claim trade deal with Mercosur represents an “unacceptable risk”

    “We are aware the European Commission has tabled an offer that includes an import quota of 78,000 tons of beef”, revealed UFU president Ian Marshall.

    The first reactions to the announced Mercosur-European trade deal and exchange of proposals next week have surfaced. The Ulster Farmers’ Union president, Ian Marshall, says the European Union trade deal on offer to Mercosur countries is an ‘unacceptable risk’ to the livelihoods of farmers in Northern Ireland.

  • Tuesday, April 12th 2016 - 09:11 UTC

    First jet aircraft lands at St Helena recently finished airport

    Passengers coming off the Bombardier Challenger 300. It is scheduled to depart from St Helena next Friday

    Great day of the British Overseas Territory of St Helena: the first jet aircraft landed at the recently concluded airport in the island located in the middle of the Atlantic Ocean. The business jet was chartered by Air Safety Support International (ASSI) to bring its team of five personnel to St Helena to assess St Helena Airport.

  • Tuesday, April 12th 2016 - 09:00 UTC

    Don’t Blame Panama. Tax Evasion Is a Global Problem.

    View of Panama City financial district: Panama does not deserve to be singled out on an issue that plagues many countries

    By Juan Carlos Varela (*) - The following was published by The New York Times in The Opinion Pages. DESPITE their name, the Panama Papers are not mainly about Panama. They are not even primarily concerned with Panamanian companies. The more than 11 million documents, illegally hacked and released last week relating to previously undisclosed “offshore” corporations, is roiling the world with revelations of the vulnerability for rampant abuse of legal financial structures by the wealthy.

  • Monday, April 11th 2016 - 06:05 UTC

    ECLAC anticipates minus 1.9% contraction in economic activity this year in South America

    The economies of South America—which are specialized in the production of commodities, especially oil and minerals, and have a growing degree of trade integration with China will record a contraction

    Latin America and the Caribbean are forecast to have an average economic activity contraction of -0.6% during 2016, according to the latest release from the Economic Commission for Latin America and the Caribbean (ECLAC). This new estimate reflects that the contraction experienced by regional Gross Domestic Product (GDP) in 2015 (-0.5%) will extend to the current year.

  • Monday, April 11th 2016 - 05:46 UTC

    Argentina ready to formally join the IMF fold; Prat-Gay to meet Lagarde this week

    Prat-Gay will attend the IMF-World Bank summit in Washington DC and is expected to discuss the issue with IMF head Christine Lagarde.

    Argentina will start discussions with the International Monetary Fund (IMF) this week on its first Article IV review in a decade, Finance Minister Alfonso Prat Gay said at a conference held by the Institute of International Finance (IIF) in Nassau. “Next week we are going to have a discussion (with the IMF) to agree on an actual schedule for the next Article IV evaluation, which will happen sometime around September,” Prat Gay told the audience on Sunday.

  • Saturday, April 9th 2016 - 16:39 UTC

    Argentina begins next Monday road-show in UK and US to raise US$ 15bn

    Excluded from foreign credit markets since a default in 2001, Argentina has made peace with litigant investors under the administration of president Mauricio Macri.

    Argentine representatives will begin meeting investors Monday as the country returns to the international bond market for the first time in 15 years, it was announced by Economy minister Alfonso Prat-Gay from Bahamas, where he is attending the Inter American Bank annual assembly.

  • Saturday, April 9th 2016 - 16:13 UTC

    EU and Mercosur agree to exchange market access offers in second week of May

    Commissioner Malmström said that “enhancing trade conditions between the EU and Mercosur would bring important economic benefits to our economies”

    The European Union Trade Commissioner Cecilia Malmström and Rodolfo Nin Novoa, Foreign Minister of Uruguay, which currently holds the rotating presidency of the South American trading bloc Mercosur, agreed on Friday in Brussels on the next steps in the negotiations on an EU-Mercosur trade agreement.