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MercoPress, en Español

Montevideo, July 7th 2025 - 14:43 UTC

Economy

  • Tuesday, July 7th 2015 - 10:00 UTC

    Chinese markets volatility continue despite government measures

    Shanghai Composite Index has tumbled by nearly 30% since a peak on June 12. Stock declines were seen to be linked to new margin-trading restrictions.

    Chinese stocks plunged Tuesday after mixed fortunes Monday, with the benchmark Shanghai Composite Index tumbling 3.2% at opening. The Shenzhen Component Index also opened 3.4% lower and the ChiNext Index, tracking growth enterprises, opened 3.8% lower.

  • Tuesday, July 7th 2015 - 07:21 UTC

    Merkel and Hollande tell Greece the door for serious proposals remains open

    In Paris Merkel and Hollande said Athens must move quickly if it wants to secure a cash-for-reform deal with international creditors (Pic AFP)

    France and Germany told Greece to come up with serious proposals in order to restart financial aid talks, raising pressure on Prime Minister Alexis Tsipras to compromise a day after his country voted overwhelmingly against more austerity

  • Tuesday, July 7th 2015 - 07:11 UTC

    New Greek finance minister, Oxford educated but equally hard line

    Dutch born Tsakalotos, Oxford University-educated economics professor served as international economic affairs minister before taking over from Varoufakis

    New Greek Finance Minister Euclid Tsakalotos may be less flamboyant than his predecessor Yanis Varoufakis, but his views on his country's debt crisis are no less stridently held. While most commentators appear to agree that Mr Tsakalotos, 55, will be less bombastic than Mr Varoufakis in his dealings with international creditors, some argue that his negotiating stance could even be more hard line.

  • Tuesday, July 7th 2015 - 07:01 UTC

    Greek finance minister ousted because he favored a 'parallel currency'

    “If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago,” said Yanis Varoufakis

    Yanis Varoufakis, who was Greece's finance minister until Monday morning, was reportedly pushed from his job after he told a journalist that Greece could introduce a parallel currency in the weeks ahead. Cash is flooding out of Greek banks at the moment, and the government desperately needs money to make payments due later this month.

  • Monday, July 6th 2015 - 08:49 UTC

    Uruguay looking to increase trade and investments with India

    President Tabare Vazquez is planning to visit India next year. Despite potential trade between Uruguay and India is minimal

    Uruguay's president Tabare Vazquez is planning to visit India next year, while foreign minister Rodolfo Nin Novoa is scheduled to attend the India-Latin-American conference next October. The move is seen as an effort by Uruguay to increase its trade opportunities and access new markets, given the current difficulties to forge an agreement with the European Union.

  • Monday, July 6th 2015 - 08:46 UTC

    Shanghai Composite picking up strongly as fund managers buy stocks

    The Shanghai Composite was up 2.6% to 3,783.69 after the government announced measures over the weekend to stabilize the tumbling stock markets.

    Mainland Chinese shares surged nearly 8% on Monday despite the rest of Asian markets trading lower on Greece's rejection of austerity demands. The Shanghai Composite was up 2.6% to 3,783.69 after the government announced measures over the weekend to stabilize the tumbling stock markets.

  • Monday, July 6th 2015 - 07:34 UTC

    Euro zone to hold emergency summit to discuss Greek referendum 'no'

    Commission president Juncker will hold a teleconference on Monday with European Central Bank chief Mario Draghi, Tusk and Dijsselbloem

    Euro-zone nations will hold an emergency summit on Tuesday to discuss the Greek referendum “No” result after the German and French leaders called for a meeting, EU president Donald Tusk said. The special meeting comes as Brussels reels with the implications of what the head of the Euro-group of finance ministers from the 19-country block, Jeroen Dijsselbloem, called a “very regrettable” decision.

  • Monday, July 6th 2015 - 07:22 UTC

    “An outright victory of democracy and dignity” said Cristina Fernandez on the Greek vote

    “Nobody can be asked to sign their own death certificate. The words of President Nestor Kirchner in 2003 still resound”, said Cristina Fernandez

    Argentine President Cristina Fernández used her Twitter account on Sunday to celebrate the result of a Greek bailout referendum saying it was “an outright victory of Democracy and Dignity. The Greek people have said NO.”

  • Saturday, July 4th 2015 - 07:33 UTC

    Greece 'Yes' and 'No' voters tied for Sunday's referendum, shows latest poll

    “This is not a protest. It is a celebration to overcome fear and blackmail,” Greek Prime Minister Alexis Tsipras told a crowd of 25,000

    Greeks packed city squares for dueling rallies late into the night Friday, as polls showed a dead heat between the 'yes' and 'no' camps ahead of a bailout referendum Sunday that could be Greece's most important vote since it joined the European Union.

  • Saturday, July 4th 2015 - 06:32 UTC

    Uruguay experienced poor 2014/15 cruise season; costs in the region limited vessel calls

    The number of cruise calls in the 2014/15 season was down 27.4% this season and visitor landings, 18.9% pointed out minister Liliam Kechichian

    The 2014/15 cruise season was not encouraging for Uruguay which reported a drop in the number of vessels calling; passenger landings and money spent by the industry and visitors, according to the official assessment of the season presented by Tourism ministry officials and other government offices involved in the different operations.