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MercoPress, en Español

Montevideo, November 24th 2024 - 16:46 UTC

Economy

  • Saturday, March 18th 2023 - 10:01 UTC

    Alckmin discusses Brazil's ties with European envoy beyond Mercosur

    Alckmin highlighted the Brazilian government's efforts to reposition the country internationally

    Brazilian Vice President Geraldo Alckmin met Friday with the European Commission's Executive Vice-President Margrethe Vestager to discuss the South American country's relations beyond the Mercosur deal, Agencia Brasil reported.

  • Friday, March 17th 2023 - 10:18 UTC

    Lula and Abdo discuss Itaipú, Unasur, and UE deal

    Brazilian President Luiz Inácio Lula Da Silva Thursday told his Paraguayan colleague Mario Abdo Benítez about his intentions to reorganize Unasur and reinforce Mercosur's unity. Lula and Abdo met at the Itaipu hydroelectric power plant in Foz do Iguazú.

  • Friday, March 17th 2023 - 08:48 UTC

    BCRA adjusts benchmark interest rate: 78% annually

    It was the first monetary policy rate increase in 2023 and also since September last year

    Argentina's Central Bank (BCRA) Thursday decided to raise the benchmark interest rate by 300 basis points to 78% annually, it was announced in Buenos Aires the day after the INDEC said the Consumer Price Index for the month of February ad grew 6.6% for a year-on-year inflation of 102.5 %, the highest in the last 32 years.

  • Friday, March 17th 2023 - 07:53 UTC

    “Euro area banking sector is resilient, with strong capital and liquidity positions”, ECB President Lagarde

    Luis de Guindos and Christine Lagarde during he Thursday conference in Frankfort

    Anticipating the Euro area banking sector is resilient, with strong capital and liquidity positions, and that inflation is projected to remain too high for too long, the European Central Bank announced on Thursday that the ECB Governing Council decided to increase the three key ECB interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to the 2% medium-term target.

  • Thursday, March 16th 2023 - 07:35 UTC

    Chancellor Hunt, “British ale may be warm, but the duty on a pint is frozen”

    As part of a bid to help people with the rising cost of living, Mr Hunt announced a freeze on the duty tax for draught pints to help “the great British pub”.

    The price of a packet of cigarettes rose hours after the UK Budget was delivered in Parliament, while drinkers will see tax on alcohol go up by 10.1% in August, in line with inflation. According to London media, the only alcohol not to see a rise was draught beer where duty will be frozen. Chancellor Jeremy Hunt said this was to help “the great British pub”.

  • Thursday, March 16th 2023 - 06:40 UTC

    UK Corporation Tax rate will increase from 19% to 25%; investments deductable

    The tax hike, first announced in 2021 when Rishi Sunak was chancellor, has been a source of much political debate.

    Corporation Tax, paid on UK company profits, will rise next month, chancellor Jeremy Hunt has confirmed to Parliament. It will go up from 19% to 25% for companies with over £250,000 in profits, Mr. Hunt told the Commons.

  • Wednesday, March 15th 2023 - 10:50 UTC

    Argentina's interannual inflation reaches three digits

    The annual target of 60% for 2023 is beginning to look unattainable, Economy Ministry sources admitted

    Argentina's Consumer Price Index (CPI) for February of 2023 was reported to stand at 6.6%, according to the National Institute of Statistics and Census (Indec), which resulted in interannual inflation of 102.5%. In this scenario, Economy Ministry sources quoted by Buenos Aires media admitted the possibility of not meeting the 60% annual target outlined in the 2023 Budget.

  • Tuesday, March 14th 2023 - 13:51 UTC

    Following the failure of Silicon Valley Bank, the Fed and BoE have issued statements

    Following the failure of Silicon Valley Bank, the Fed and BoE have issued statements

    The Federal Reserve Board on Monday announced that Vice Chair for Supervision Michael S. Barr is leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure. The review will be publicly released by May 1.

  • Tuesday, March 14th 2023 - 09:52 UTC

    Biden says US banking system safe after Silicon Valley Bank collapse

    The FDIC also closed the New York-based Signature Bank

    US President Joseph Biden said his country's banking system was “safe” in the aftermath of last week's collapse of Silicon Valley Bank, a California financial giant specialized in the technology sector. Biden insisted Monday that Americans can “trust that the banking system is safe,” and said he would seek to move forward with stronger regulations.

  • Monday, March 13th 2023 - 08:48 UTC

    Argentina's industry grows 6.3% YoY in January

    Various reports yielded similar conclusions

    Argentina's industrial output recorded a 6.3% interannual growth in January of 2023 and 9.6% against the same month of 2019, the Secretariat of Industry and Productive Development reported. It was the second-highest January, only surpassed by 2018. Against January 2022, the sectors that grew the most were Food and Beverages (+9.1%), Automotive (+24.8%), Metal Industries (+8.9%), and Metal Products (+15.2%).