Economy

Friday, August 5th 2016 - 13:24 UTC
Argentina squid landings very poor; jiggers could anticipate closure of the season

Argentina reports poor results from the current Illex squid season and does not discard an anticipated closure if catches fail to recover. The president of the Argentine Chamber of Jigger Fishing Shipowners (CAPA), Juan Redini confirmed to the portal Pescare that only five to six vessels remain operational between parallels 40° and 42°, but with erratic course and catches.
Friday, August 5th 2016 - 12:18 UTC
Moody's lowers Uruguay's banking system outlook to negative: inflation remains main challenge

Moody's has lowered its outlook on Uruguay's (Baa2 negative) banking system to negative from stable on the expectation that asset risks will rise moderately as challenging economic conditions weigh on consumers and businesses alike, and profitability will decline.
Friday, August 5th 2016 - 12:07 UTC
UK admits economy contraction and announces a bold package of stimulus measures

The Bank of England has unveiled a series of stimulus measures in the wake of Brexit, including its first interest rate cut since the global financial crisis (2009), as it tries to jumpstart an economy shocked by Britain’s vote to leave the European Union.
Friday, August 5th 2016 - 12:04 UTC
Brazil´s unemployment reaches 11.3%; only two years ago it stood at 6.5%

Brazil's unemployment rate rose to 11.3% in the second quarter, statistics agency IBGE said, hitting a four-year high as Latin America's largest economy struggles with a crippling recession. In a sign that Brazil's labor market faces even tougher times, economists surveyed expect the unemployment rate will not start falling until 2018.
Thursday, August 4th 2016 - 22:59 UTC
FAO Price Index reports modest decline in July as grains and vegetable oils drop

The international prices for major food commodities saw a modest decline in July, following five consecutive months of increases. The FAO Food Pice Index (FPI) averaged 161.9 points in July 2016, slipping 0.8 percent (1.3 points) below its level in June and 1.4 percent below its level of July 2015.
Tuesday, August 2nd 2016 - 06:35 UTC
Temer hails beef agreement with the US; expects sales to reach US$ 1b next year

Brazil's acting president, Michel Temer, on Monday hailed the opening of the U.S. market to Brazilian beef, saying that it will help create new jobs and will expand trade for Latin America's largest economy.
Tuesday, August 2nd 2016 - 06:24 UTC
UBS optimistic about evolution of Brazilian economic activity in second half of 2016

Things are looking up for the Brazilian economy - but it won't be due to the Olympic games starting this week, according to a UBS report published last Friday.
Tuesday, August 2nd 2016 - 06:19 UTC
US and Brazil agree to open each others' beef market

The United States and Brazil have agreed to allow access to each other's beef markets after more than a decade of negotiations. Brazil's Ministry of Agriculture, Livestock and Food Supply has agreed to imports of U.S. beef for the first time in 13 years, USDA announced today. And the U.S. will accept Brazilian beef for the first time since 1999.
Tuesday, August 2nd 2016 - 06:07 UTC
China's leading role in Argentina reviewed and confirmed by Macri

China’s role in Argentina’s foreign relations will be more balanced than during the Kirchner administrations, with a larger role played instead by the United States and European countries, the country’s ambassador to Beijing Diego Guelar said, claiming Chinese investment will have to be more competitive.
Monday, August 1st 2016 - 13:16 UTC
US economy grows at slower pace in second quarter despite strong consumer spending

The United States economy grew at a much slower pace than expected in the second quarter and GDP was revised down in the first three months of the year. The world's largest economy grew at an annual rate of 1.2% in the three months to June, far below forecasts of 2.6%, Growth for the first quarter was revised down from 1.1% to 0.8%.