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MercoPress, en Español

Montevideo, November 24th 2024 - 09:07 UTC

Economy

  • Tuesday, May 30th 2023 - 10:55 UTC

    Lula promises Maduro that integration “will be full”

    Lula plans to promote the de-dollarization of South American economies during Tuesday's Summit

    Brazilian President Luiz Inácio Lula da Silva Monday told his Venezuelan counterpart Nicolás Maduro at the Planalto Palace that the resumption of diplomatic ties between the two countries “will be full.” Maduro, who seldom travels abroad, is in Brasilia to attend Tuesday's Summit of South American leaders hosted by the continent's largest country.

  • Monday, May 29th 2023 - 20:31 UTC

    Germany in technical recession, Eurozone expects zero growth

    GDP fell by 0.3% for the quarter when adjusted for price and seasonal effects, according to data from the Federal Statistics Office, Destatis.

    Beware the European Union, Germany has entered technical recession. Germany's economy shrunk slightly in the first quarter of 2023 compared with the previous three months, data showed. A preliminary estimate had shown gross domestic product (GPD) stagnating at zero growth in the first quarter — meaning Germany would have narrowly escaped a recession.

  • Monday, May 29th 2023 - 10:59 UTC

    Argentina's race against time: Economy Minister seeks Chinese support to stay afloat

    Economy Minister Massa and Deputy Máximo Kirchner are traveling aboard the ARG-01 aircraft

    Argentina's Economy Minister Sergio Massa is due in China Tuesday, in a desperate bid to secure much-needed dollars for the government's survival and bolster its chances in the upcoming presidential elections. President Alberto Fernández, who recently announced that he would not seek re-election, has taken a backseat, allowing Massa to spearhead this crucial mission.

  • Friday, May 26th 2023 - 09:07 UTC

    Argentina imposes more impediments to foreign trade; Central bank desperately short of US dollars

    The Argentine Central Bank established a decree encouraging the non-collection of freight rates for imports to avoid delivering US dollars.

    Given the financial problems and shortage of foreign currency, on Wednesday, May 24, the leading shipping company MSC, followed by seven others, announced that, as from June, ‘freight collect’ will be charged for exports from Argentina, meaning that these charges will be billed to the party receiving a shipment, often called the consignee.

  • Thursday, May 25th 2023 - 10:09 UTC

    LatAm's business index falls below average figures

    The business climate in Latin America registered its lowest level since the third quarter of 2022, according to the Fundação Getúlio Vargas (FGV)

    Paraguay remained the Latin American country with the highest projected growth for the year 2023, according to a Getúlio Vargas Foundation (FGV) study that also showed that the region has hit its poorest business climate in the last nine months, it was reported. Argentina is at the bottom of the list.

  • Thursday, May 25th 2023 - 10:00 UTC

    Canada, Saudi Arabia resume full diplomatic ties after 5 years

    It was “about time” relations were restored, said former Canadian Ambassador Horak

    Five years after Saudi Arabia expelled Canada's ambassador from Riyadh over Ottawa's remarks on women's rights activists, both countries agreed Wednesday to restore full diplomatic relations, Global Affairs Canada (Canada's foreign ministry - GAC) announced in a statement.

  • Wednesday, May 24th 2023 - 10:19 UTC

    Ecuador: President signs decree-law attracting investments

    After Wednesday's Report to the Nation, Lasso will travel to the US for a medical procedure

    Ecuadorian President Guillermo Lasso Tuesday signed his second urgent economic decree-law after the May 17 invoking of the crossed death constitutional procedure to dissolve Congress and call for snap elections. Tuesday's “Attraction and Promotion of Investments for Productive Development” initiative, which provides for the creation of new duty-free trade zones, needs Constitutional Court's approval to become effective. The bill was submitted two years ago by the Government of Ecuador to the outgoing National Assembly, but it was shelved.

  • Wednesday, May 24th 2023 - 09:59 UTC

    China and Brazil reaffirm stronger partnership, Brazilian envoy in Beijing

    Ambassador Marcos Galvao said that the success of the state visit by President Lula da Silva to China “certainly points to an even higher stage of the strong partnership” between countries

    Brazil and China are set to embrace a higher state of solid partnership, and the two sides have shown a strong commitment to bolstering bilateral trade, cooperation in aviation and high-tech sectors, and response to climate change, said the country's top envoy to Beijing.

  • Wednesday, May 24th 2023 - 09:55 UTC

    IMF improves UK economy forecast for this year but “inflation remains stubbornly high”

    The IMF said inflation “remains stubbornly high” and that higher interest rates will need to remain in place if it is to be brought down.

    Improved prospects for the UK economy according to the latest report from the IMF. The Fund said UK is expected to avoid a recession this year, with the economy growing 0,4% in 2023, compared to the a previous forecast of a 0,3% contraction last year.

  • Wednesday, May 24th 2023 - 07:42 UTC

    Global production of shipping containers piles up at major ports because of lack of demand for goods

    The decline marks a sharp reversal from two years ago, when container manufacturing boomed in response to a pandemic-induced surge in demand for physical goods

    Global production of shipping containers has fallen significantly as demand for goods sank following the easing of pandemic restrictions, leaving the corrugated steel boxes piled up at major ports.