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MercoPress, en Español

Montevideo, May 19th 2024 - 03:03 UTC

Economy

  • Friday, May 3rd 2024 - 10:59 UTC

    Uruguay: Exports grow 27% interannually in April

    Live cattle recorded a 740% growth from US$ 4 million to US$ 31 million

    According to a study from the government's Uruguay XXI Institute released Thursday in Montevideo, the South American country's exports of soybeans, beef, live cattle, and cellulose drove the total sales abroad to a 27% growth in April from last year's figures during the same month and a 5% increase in the first third of 2024.

  • Thursday, May 2nd 2024 - 19:39 UTC

    Argentina's BCRA again lowers basic interest rates in less than one week

    It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year

    Argentina's Central Bank (BCRA) once again lowered the benchmark interest rate from 60% to 50%. It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year. Thus, yields from fixed-term deposits will fall monthly from the current 5% per month to 4.2% for an annual effective rate of 64.8%.

  • Thursday, May 2nd 2024 - 19:11 UTC

    Argentina: Drop in retail prices expected soon

    Caputo agreed with executives from the main supermarket chains that imported goods would help lower the retail prices

    In line with President Javier Milei's chainsaw politics to curb inflation, Argentine supermarkets expect a drop in retail prices shortly once imported items arrive to compete with local production as agreed upon with the Economy Ministry in March, it was reported in Buenos Aires.

  • Thursday, May 2nd 2024 - 06:38 UTC

    Falklands upgrades compensation for redundancy/unfair dismissal

    MLA Gavin Short, “I am extremely happy to see the approval of these much-needed updates to the Employment Protection Ordinance, particularly regarding the weekly pay cap”.

    The Falkland Islands Executive Council (ExCo) agreed on Tuesday 23 April, legislation updates have been approved for the Employment Protection Ordinance, specifically on compensation for redundancy/unfair dismissal.

  • 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.