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MercoPress, en Español

Montevideo, April 30th 2026 - 21:09 UTC

Economy

  • Saturday, August 8th 2015 - 10:42 UTC

    Petrobras profits plunge 89% in 2Q; underperforming assets dumped

    Petrobras' quarterly profit fell to 531 million Real ($150.4 million) from 4.96 billion Real a year ago, the company said in a securities filing on Thursday.

    Brazilian state-led oil company Petrobras said its second-quarter net income plunged 89% after a one-time charge for underperforming assets that caught analysts off guard. The 1.28-billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt, the oil-industry's largest, by preparing up to $15bn of assets for sale by the end of 2016.

  • Saturday, August 8th 2015 - 09:44 UTC

    FAO pressing countries to ratify agreement on illegal, unreported, unregulated fishing

    FAO brokered in 2009 the Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing.

    A growing number of countries are ratifying an international agreement to combat illegal fishing, fueling interest in how best to implement the instrument. Illegal, unreported and unregulated (IUU) fishing is estimated to strip between $10 billion and $23 billion from the global economy, and their impacts undermine the way fish stocks are managed to make it a double concern around the world.

  • Saturday, August 8th 2015 - 09:31 UTC

    Chile's inflation climbs 0.4% in July to an annualized 4.6%; Peso slides 11%

    Chile which is heavily China-dependent with copper exports is suffering consequences of the slowdown in the world's second strongest economy.

    Chile’s inflation rate rose to the highest this year in July as the Peso approaches its weakest level in more than a decade. Prices climbed 0.4% in the month, the National Statistics Institute said on its website Friday. Annual inflation accelerated to 4.6% from 4.4% the month before, while the central bank target is between 2% and 4%.

  • Saturday, August 8th 2015 - 09:20 UTC

    Brazil's July inflation climbed to 9.56%, powered by electricity bills, up 57.8%

    Inflation remains well above the central bank's target of 4.5% despite seven consecutive interest rate hikes -- most recently to 14.25%.

    Brazil's annual inflation rate climbed to 9.56% in July, the highest level since 2003, official data showed Friday. Prices are being driven higher by the rising cost of electricity -- up 57.8% in the past 12 months -- as well as increasingly expensive housing, food and beverages, and health care.

  • Saturday, August 8th 2015 - 08:54 UTC

    Argentine embassy in US launches website on the struggle with 'vulture funds'

    The website is called “All about the Argentine Debt Case”, and is divided in several sections.

    The Argentine Embassy in the United States has launched a website to explain the conflict between Argentina and holdout investors commonly referred to as “vulture funds”. The website explains the origins of the conflict, its history, and provides documents and expert opinions on the subject. Its virtual library has until now over 200 documents and 100 independent sources.

  • Saturday, August 8th 2015 - 08:22 UTC

    Bank of England keeps rates unchanged; little talk of rise because of China and Greece

    The Bank said a collapsing stock market in China and continuing talks over Greece's debts mean the outlook for global growth was muted.

    UK interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee (MPC). Members voted 8-1 to keep rates on hold - the first time for months the decision has not been unanimous, with Ian McCafferty voting for an increase.

  • Friday, August 7th 2015 - 06:53 UTC

    YPF profits up, but no new joint-ventures in sight to develop Patagonia shale

    YPF earnings have been cushioned from the collapse of international oil prices by a government-controlled price for domestic production: $78 dollars a barrel

    Argentina's state-managed energy firm YPF posted a second quarter net income of 2.297 billion pesos ($252.8 million) on Wednesday, a 50.5% increase on the same period last year. YPF earnings have been cushioned from the collapse of international oil prices by a government-controlled price for oil produced in the country, which sits at about $78 dollars per barrel.

  • Friday, August 7th 2015 - 05:55 UTC

    Lan and Tam consolidate under an only brand of Latam Airlines

    The changes will “gradually become visible” in 2016, though the company has not announced a timeline for all specific elements.

    LATAM Airlines Group will consolidate all its carriers, including Lan Airlines and Tam Linhas Aéreas S.A., into a single brand over the next three years, the company announced Thursday. Since Lan and Tam merged in 2012, they've operated as separate brands, but the parent company's goal has been to provide a carrier that can provide seamless coverage to the entire South American continent.

  • Thursday, August 6th 2015 - 08:35 UTC

    Uruguay inflation at an annualized 9%; 60 days price-freeze of 1.400 items

    The 1.400 items price agreement is conditioned to ensuring that the US dollar, currently almost at 29 Pesos, in the next two months does not reach 30 Pesos

    Uruguay's inflation climbed 1.21% during July and reached 6.91% in the first seven months of the year and 9.02% in the last twelve months, according to the release from the country's stats office, INE. In July 2014 inflation was 0.75%.

  • Thursday, August 6th 2015 - 08:11 UTC

    NIESR 2015 global economic growth forecast lowered from 3.2% to 3%

    Growth forecasts for US and many emerging market economies was lowered but for the Euro zone was only cut slightly.

    Global economic growth will slow this year to the lowest rate since the financial crisis, according to the National Institute of Economic and Social Research (NIESR). The think tank cut its 2015 forecast to 3.0% from the 3.2% it predicted in May.