Economy

Wednesday, May 6th 2015 - 07:16 UTC
Brazilian leading bank prepares ahead of the country's 'steepest recession in two decades'

Itaú Unibanco Holding SA, one of Brazil's strongest and leading banking groups is provisioning more for loan losses and curbing loan book growth in a bet that careful risk management will help the bank navigate the country's steepest recession in over two decades.
Wednesday, May 6th 2015 - 07:04 UTC
Uruguay calls for an end to Mercosur 'hollow rhetoric' which undermines jobs

Uruguay's foreign minister Rodolfo Nin Novoa called on Mercosur to overcome “hollow rhetoric” and advance towards the elimination of barriers which restrict access to other markets and intra-region trade.
Wednesday, May 6th 2015 - 06:34 UTC
Despite devastating rains and floods Chile's economy grew 1.6% in March

Chile's economy grew at a modest pace in March, as a gradual rebound was weighed down by devastating floods and mudslides in its northern region, central bank data showed on Tuesday. The IMACEC economic activity index, which encompasses about 90% of the economy tallied in GDP figures, rose 1.6% in March from the same month a year ago.
Tuesday, May 5th 2015 - 10:01 UTC
Mercosur prepared to consider the possibility of a 'two-speed' system with EU

Paraguay's foreign affairs minister Eladio Loizaga admitted in Madrid that Mercosur could consider the possibility of a “two-speed” system in trade and cooperation negotiations with the European Union. The minister was the main speaker at the event organized by Casa de America and the Spanish government news agency EFE.
Tuesday, May 5th 2015 - 09:52 UTC
Mercosur main partners' bilateral trade stalled for the last six years

Bilateral trade between Mercosur main partners Argentina and Brazil, has stalled at an annual 30bn dollars during the last six years (2008/2014), with no prospects of a recovery during 2015, according to Finsoport consultants from Buenos Aires.
Monday, May 4th 2015 - 20:12 UTC
St Helena airport on track: runway 70% completed; grooving and sealing begins

The government of the British Overseas Territory St Helena has given an update on the construction of the airport which is expected to become operational sometime in 2016, and which continues according to original plans.
Monday, May 4th 2015 - 14:16 UTC
Avian flu in the US: third state declares state of emergency

State of Iowa Governor Terry Branstad declared a state of emergency due to a rapidly expanding avian flu outbreak, saying the entire state was at risk from the spread of the disease.
Saturday, May 2nd 2015 - 07:34 UTC
Uruguay's meat exports in four months total 550m with beef the main item, 454m

Uruguay exported meat, offal, meat products and by-products worth 550 million dollars in the year up to 18 April, 8% more than the same period of 2014. Beef exports totaled 454 million in the first months of the year, with the main buyers including China, member countries of the North American Free Trade Agreement (NAFTA), the European Union, Israel and MERCOSUR countries.
Saturday, May 2nd 2015 - 07:09 UTC
Why the US should worry about oil sector jobs

Outside of individual's holding oil stocks, damage to the economy from the fall in oil has been pretty minimal so far. Indeed, the price cut in home heating oil and gasoline has probably outweighed the damage from lower oil prices… so far. Unfortunately, this situation may not last.
Friday, May 1st 2015 - 06:56 UTC
Uruguay forecast to grow 2.5% this year, but must “strongly moderate” public spending

Private consultants forecast the Uruguayan economy will expand 2.5% in 2015, compared to 3.5% the previous year, but recommend a “strong moderation” in government spending to retake the path of sustained growth and contain the consequences of an adverse international scenario mostly recessive.