Economy

Friday, November 28th 2014 - 06:30 UTC
Uruguay praises Mercosur as the “main buyer” of the country's exports

Uruguay’s Foreign Minister Luis Almagro highlighted that Mercosur is the “main buyer” of Uruguayan exports and strongly defended the country's presence in the regional group, a controversial issue since much of the country's political system and most of the business community want a more dynamic, open trade block.
Friday, November 28th 2014 - 06:23 UTC
Oil price plunges as OPEC decides against cutting output despite world glut

Brent and US crude oil plunged as much as 6.50 dollars a barrel on Thursday, the steepest one-day falls since 2011 following on OPEC's decision against cutting output despite a huge oversupply in world markets.
Friday, November 28th 2014 - 06:17 UTC
Griesa rejects payment request from investors holding Argentine bonds in Euros

US Federal judge Thomas Griesa has rejected a request by European investors seeking payment on Argentine titles currently blocked in New York, despite an ongoing parallel court battle over the issue in London.
Friday, November 28th 2014 - 05:58 UTC
Argentine industrial activity contracts 6.1% in October compared to a year ago

A private report revealed that industrial activity in Argentina dropped 6.1% in October compared to the same period last year, as the manufacturing sector continues to contract pushed by big drops in the auto industry.
Thursday, November 27th 2014 - 06:19 UTC
Mercosur/Pacific Alliance agree on flexible integration but no talk on tariffs

Mercosur and the Pacific Alliance explored this week in Chile the possibilities of a gradual, and flexible, integration but left aside all possibility of a near future agreement on tariffs.
Wednesday, November 26th 2014 - 10:30 UTC
OECD warns about Euro zone 'prolonged' stagnation with global impact

Global economic growth in the coming two years is facing difficulties because of problems of recession in Japan and stagnation in the European economies and prospects for healthy growth “are stuck in low gear,” the Organization for Economic Cooperation and Development said on Tuesday.
Wednesday, November 26th 2014 - 09:56 UTC
US economy stronger and growing sturdier than most forecasts

The US economy grew much faster in the third quarter than first reported, official figures have shown. It expanded at an annual zed rate of 3.9% between July and September, up from the 3.5% first estimated by the Bureau of Economic Analysis.
Wednesday, November 26th 2014 - 09:41 UTC
Pacific Alliance and Mercosur represent 90% of Latam and Caribbean GDP

The Pacific Alliance (PA) and the Common Market of the South (Mercosur) combined represent more than 80% of regional foreign trade as well as population, and more than 90% of GDP and direct foreign investment flows, according to a new report by the Economic Commission for Latin America and the Caribbean (ECLAC).
Wednesday, November 26th 2014 - 06:56 UTC
Ana Botin reshuffles Santander, names new CEO and promotes other managers

Spain's Santander, the biggest bank in Europe by market value, reshuffled its command naming Jose Antonio Alvarez as its new chief executive replacing Javier Marin after his two years in the job, the bank said in a statement.
Wednesday, November 26th 2014 - 06:48 UTC
Follow the sand to the real fracking boom

$This all puts frac sand in the drivers’ seat of the next phase of the American oil boom, and it has already seen its price increase up to 20% over the past year$

When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom.