Economy

• Monday, September 1st 2014 - 10:43 UTC

  Uruguay's main agro-business show opens on Wednesday at the Prado greens

  

  Next Wednesday Uruguay's main agro-show at the Prado's greens will open to receive over 2.277 livestock among which will be selected the top cattle (meat and dairy), sheep (wool and lambs), horses and swine of the country, in a display of advanced genetics.

• Saturday, August 30th 2014 - 11:49 UTC

  Marina pledges to restore Brazil credibility and limit spending below growth rate

  

  Opposition presidential candidate Marina Silva said that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. The Brazilian economy fell into recession in the first half of the year, a heavy blow for President Dilma Rousseff's already diminishing hopes of winning re-election in October.

• Saturday, August 30th 2014 - 11:06 UTC

  Capital Markets accept review of sovereign default and making terms extensive to all bondholders

  

  The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.

• Saturday, August 30th 2014 - 10:53 UTC

  Brazil in recession; Minister Mantega blames external factors and World Cup

  

  Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting in what will be a tough re-election battle. Brazil's national statistics institute said Friday GDP shrank 0.6% in the second quarter and revised an initially positive first quarter growth estimate down to -0.2 percent.

• Saturday, August 30th 2014 - 08:01 UTC

  Judge Griesa schedules new hearing; Argentina appeals to United Nations on holdout case

  

  The US judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings scheduled a hearing to assess whether Citigroup Inc (C.N) should be forced to comply with a subpoena.

• Saturday, August 30th 2014 - 07:10 UTC

  Venezuela cheap oil and fuel shipments to allies fall to a five-year low

  

  Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.

• Saturday, August 30th 2014 - 07:07 UTC

  New World Bank delegate in Argentina; 'country strategy' to be considered next month

  

  The World Bank board of directors will be discussing sometime next month a new aid program for Argentina focused on combating poverty, but the loans approval can't be expected until next year, according to the bank's new representative in Argentina, Jesko Hentschel.

• Saturday, August 30th 2014 - 07:00 UTC

  Mercosur is a ‘success’; intra-trade has grown at double the world rate

  

  Mercosur is a success, intra-trade has expanded at double the rate of world trade and despite all the bad press, the block is advancing on other fields such as social affairs and citizenship, according to Ivan Ramalho, Mercosur's High Representative, who is a former Brazilian deputy minister of trade and development issues.

• Friday, August 29th 2014 - 08:11 UTC

  US economy rebounds strongly in the second quarter: 4.2% annual rate

  

  The US economy rebounded more strongly than initially thought in the second quarter and details of a report on Thursday pointed to sustainable underlying strength. GDP expanded at 4.2% annual rate instead of the previously reported 4.0% pace, the Commerce Department said, reflecting upward revisions to business spending and exports.

• Friday, August 29th 2014 - 08:07 UTC

  Singer extends 'discovery' looking for Argentine assets in Chinese banks

  

  As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.