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MercoPress, en Español

Montevideo, May 17th 2024 - 05:04 UTC

Economy

  • Thursday, May 2nd 2024 - 05:15 UTC

    Maritime traffic partially restored with temporary corridors at port of Baltimore

    The collapse of the Francis Scott Key Bridge, a vital route used by tens of thousands of vehicles daily, resulted in the tragic loss of six lives

    CBS News is reporting that the port of Baltimore, in Maryland has seen the arrival of a first container ship since the tragic collision and collapse of the Francis Scott Key bridge in March, with the loss of six lives.

  • Thursday, May 2nd 2024 - 05:08 UTC

    The Fed leaves rates unchanged because of lack of further progress on lowering inflation

    Fed chairman Powell said he thought that a rate increase was “unlikely”, while repeating that officials wanted greater confidence that inflation was easing

    The United States kept interest rates unchanged, given “a lack of further progress” toward lowering inflation. This means the Fed rate at 5,25% and 5,5% is at the highest level in more than two decades.

  • Wednesday, May 1st 2024 - 23:50 UTC

    Mondino assured of China's support for Argentina's stance regarding Malvinas/Falkland issue

    Beyond China's old support regarding the Malvinas/Falklands controversy, Mondino's trip seems to have yielded almost no results

    Although Argentine Foreign Minister Diana Mondino had the near-impossible task of putting her country on good terms with China despite President Javier Milei's disparaging campaign comments, some common ground was reached this week as the South American diplomat reaffirmed the one-China principle and Beijing backed Argentina's claim to the Falkland/Malvinas Islands.

  • Wednesday, May 1st 2024 - 21:28 UTC

    Argentine unions ratify May 9 general strike against Milei's policies

    When the measure was announced, Argentina “was bad and now it is worse,” Daer (L) explained besides Moyano

    Argentina's main unions insisted Wednesday during the Labor Day demonstrations that the plans for the May 9 general strike against President Javier Milei's economic reforms that are affecting people's purchase power were “not in doubt.” Healthcare workers union leader Héctor Daer, who co-chairs the General Labor Confederation (CGT), also explained that “We are going to go ahead with the struggle plan that we have been developing. When the measure was announced, Argentina ”was bad and now it is worse.”

  • Wednesday, May 1st 2024 - 19:23 UTC

    Brazil: Unemployment reaches 7.9% in Q1

    Brazil's government recorded encouraging figures regarding employment under a formal contract

    The Continuous National Household Sample Survey (PNAD) released by Brazil's Institute of Geography and Statistics (IBGE) this week showed that 8.6 million people (or 7.9% of the population) were unemployed in South America's largest country in the first quarter of 2024, which represented a 0.5 percentage-point increase from the previous measurement ending in December.

  • Tuesday, April 30th 2024 - 11:16 UTC

    In 23 years bilateral trade between Latin America and China soared 35 times

    Brazil remains the main trade partner of China in the region and in a very special year, when the two countries are commemorating the fiftieth anniversary of diplomatic ties

    Trade between China and Latin American countries surpassed US$ 480 billion in 2023, compared to a mere US$ 14 billion back in 2000, based on data from the Customs Administration of the People’s Republic of China (AGA) and the UN Economic Commission for Latin America and the Caribbean, ECLAC.

  • Monday, April 29th 2024 - 10:59 UTC

    Mondino seeking to soothe ties with China after Milei's campaign announcements

    Mondino is aware that Argentina needs the currency swap with China extended despite Milei's tantrums

    Argentine Foreign Minister Diana Mondino is on a crusade in China to discuss bilateral issues with an economic giant with whom President Javier Milei had pledged during his campaign that he wanted no ties. “Not only will I not do business with China, I will not do business with any communist,” Milei announced repeatedly on his way to Casa Rosada.

  • Friday, April 26th 2024 - 20:59 UTC

    Thousands of layoffs feared in Argentina next month

    The number of Industrial SMEs has remained unchanged for quite a while amid an increase in population, Rosato warned

    Argentine SMEs fear a wave of sackings in the coming days due to President Javier Milei's policies which may have been somewhat successful at curbing inflation but at a cost. The Industriales Pymes Argentinos (IPA) chamber released a report saying that some 17,000 jobs had been lost since Milei took office on Dec. 10, 2023, and further suspensions and layoffs appear on May's radar.

  • Friday, April 26th 2024 - 20:06 UTC

    Argentina's Central Bank lowers basic interest rates

    The new contraction will be used to pay less interest

    Argentina's Central Bank (BCRA) this week lowered the benchmark interest rate by another 10 percentage points to 60% annually, it was reported in Buenos Aires. It was the fourth such cut since Javier Milei took office on December 10, 2023, when the rate stood at 133%. “BCRA announces that as of 04-25-2024, the rate for 1-business-day maturity passive operations will be 60%,” it said in a statement. It was also the second 10-point cut in April alone.

  • Friday, April 26th 2024 - 10:56 UTC

    Brazil to discourage steel imports?

    The measure still needs to be greenlighted by Brazil's Mercosur partners

    Brazilian authorities announced this week that new measures will be in force concerning the import of steel products. In a move to discourage such practices, goods exceeding the quota of 11 items will be charged higher taxes, Agencia Brasil reported. In other words, if the maximum volume is exceeded, the import duty, currently ranging between 9% and 14.4%, will reach 25%, the Chamber of Foreign Commerce explained. The initiative seeks to prevent unfair competition with domestic steel.