Economy

Saturday, May 24th 2014 - 00:27 UTC
Argentina's auto sales record last year was fed on 'steroids', claims Fiat CEO

One of Argentina's main industry leaders, Fiat CEO Cristiano Rattazzi. said that the boost of auto manufacturing during 2013 and record sales was fed on 'steroids' and demanded more reliability in the rules to revitalize sales.
Friday, May 23rd 2014 - 23:59 UTC
Strikes and protests in chaotic Sao Paulo move to the suburbs

Brazil faced new protests and strikes Friday as bus drivers continued their walkout in Sao Paulo's suburbs and Rio de Janeiro braced for demonstrations 20 days from the World Cup.
Friday, May 23rd 2014 - 23:50 UTC
Argentina with 'Vaca Muerta' won the 'geological lottery': 305 meters-thick shale oil and gas

Argentina has won the “geological lottery” with its 305 meters-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country. The company and state-owned oil firm YPF announced plans last month to invest an additional 1.6 billion to develop Vaca Muerta.
Friday, May 23rd 2014 - 23:42 UTC
ECLAC/ILO anticipate less job creation in Latam as the overall economy slows down

The economic scenario for 2014, with an estimated average growth rate of 2.7%, is far from encouraging for the evolution of the Latin American regional labor market and presents major challenges for labor market policy, said the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO) in a new joint report released this week.
Friday, May 23rd 2014 - 22:25 UTC
Dominican Republic tourism industry success story: 4.7 million tourists in 2013

The Dominican Republic’s 2013 visitor numbers grew by 3.6% over the previous year, outpacing the entire Caribbean region, which recorded growth in tourism of only 1%. Tourism minister Francisco Javier Garcia described it as “an extraordinary year.”
Friday, May 23rd 2014 - 10:50 UTC
Protesting McDonald's workers arrested in Chicago; labor pay debate beginning to brew in US

More than 100 demonstrators seeking better pay for McDonald's workers were arrested on Thursday as protesters swarmed the fast-food chain's corporate campus near Chicago demanding a minimum wage of 15 dollars an hour and the right to unionize.
Friday, May 23rd 2014 - 10:45 UTC
YPF discovers shale in Chubut province, 1.000 km southeast of Vaca Muerta

At least 15 more shale oil and gas wells will be drilled in Argentina's Patagonia Chubut province over the next three years, a provincial official said on Thursday, a day after its first shale discovery was made public.
Friday, May 23rd 2014 - 10:36 UTC
European lawmakers warn about the impact of a EU/Mercosur accord

European Parliament lawmakers Marian Harkin and Pat The Cope Gallagher have issued strong warnings of soundings coming from Europe of a potential Mercosur trade deal, particularly European Commission President Barroso intention of having the agreement signed before he steps down from office.
Friday, May 23rd 2014 - 10:17 UTC
IMF to check Argentine new stats on inflation and GDP next month

The International Monetary Fund board has already received a first analytical report on Argentina latest statistics and will address the issue in its next meeting scheduled for 6 June, according to IMF spokesperson Gerry Rice in Washington.
Thursday, May 22nd 2014 - 01:01 UTC
Uruguay reported a trade deficit of 1.38bn dollars in the twelve months to April

Uruguay’s goods’ foreign trade in the twelve months to April 2014 reported a deficit of 1.38 billion dollars with exports totaling 10.42 billion and imports 11.185bn, according to the country’s Chamber of Industries Economic Studies Unit based on data from Customs.