Paraguay foreign minister Eladio Loizaga advanced some of the issues that will addressed on Monday's Mercosur presidential summit, when all of the members of the group's heads of state have confirmed their attendance, except Venezuela's Nicolas Maduro, plus leaders from associate members.
Mercosur members have identified over eighty non tariff barriers currently effective in intra-trade and have agreed on their gradual elimination, a proposal to be considered by the group's presidential summit when they meet Monday in Asuncion, Paraguay.
Brazilian President Dilma Rousseff on Friday picked her close aide Nelson Barbosa, a left-leaning economist, to take over the finance ministry from Joaquim Levy who is leaving after a series of disagreements over economic policy.
The US dollar in Argentina's foreign exchange market plunged on Friday 35 cents to 13.60 Pesos on the second day since President Mauricio Macri's administration decided to put an end to official restrictions for the purchase of greenbacks and other dealings with foreign currency.
World Trade Organization members, including Argentina and Uruguay, have agreed on the need to reduce fishing subsidies so as to contribute to the conservation of fishing resources worldwide. This decision was taken because WTO is convinced that fisheries subsidies contribute to economic losses in the fisheries sector, leaving serious impact on food security and livelihoods, particularly in developing countries, Star Business Report reported.
Shares in New Zealand dairy firm - The a2 Milk Company (A2) - were up more than 30% in Sydney on Friday after the firm raised its full-year earnings forecast on demand for its infant formula in China and Australia. It is the second time since November the company has raised its guidance.A2 said group revenue could reach US$ 212 million for the period, up from US$180.
The United States has approved a measure to lift the 40-year ban on crude oil exports. The move is part of a US$1.1 trillion spending bill approved by the Senate on Friday that will fund the US government until 2016.
Argentina's Finance Minister Alfonso Prat Gay said on Thursday that the first day in the market without the dollar restrictions imposed by the previous administration, had been positive and as they had planned or expected. Compared to the previous multi-tier system, the dollar appreciated in the range of 25% against the Peso in the unified market.
In a Christmas message to Falkland Islanders, UK Prime Minister David Cameron is hopeful that the election of a new Argentine president “will allow us to move towards a more mature relationship”.
Brazil’s Congress on Thursday approved a 2016 budget with surplus targets lower than what Finance Minister Joaquim Levy wanted, a day after the country lost an investment-grade credit rating on concerns about fiscal restraint.