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MercoPress, en Español

Montevideo, September 21st 2024 - 09:01 UTC

Economy

  • Saturday, August 3rd 2024 - 09:13 UTC

    Mercado Libre tops ranking of LatAm companies

    “We had to do it... and we did it,” Galperín wrote on X after celebrating the company's 25th anniversary

    Mercado Libre, the company founded by Argentine entrepreneur Marcos Galperin, once again became the most valuable in Latin America with a market price exceeding US$ 90 billion, thus outperforming Petrobras (US$ 87.64 billion), Itaú (US$ 56.5 billion) and Walmart Mexico (US$ 54.95 billion).

  • Friday, August 2nd 2024 - 11:57 UTC

    Bank of England cuts basic rate to 5% in divided vote; monetary policy will continue restrictive

    Andrew Bailey, Chair of the Bank of England, admitted that the fall in interest rates was “not mission accomplished yet”.

    The Bank of England Monetary Policy Committee, MPC at its meeting ending on 31 July 2024, voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 5%. Four members preferred to maintain Bank Rate at 5.25%.

  • Friday, August 2nd 2024 - 10:19 UTC

    Chile's Central Bank keeps TPM interest rate unchanged

    The TPM is thus expected to keep dropping “during the monetary policy horizon” but not now, the bank insisted

    Chile's Central Bank decided this week to keep the monetary policy interest rate (TPM) unchanged at 5.75%, it was announced in Santiago after Wednesday's monthly Council meeting during which July's 0.25% lowering from 6% was upheld.

  • Thursday, August 1st 2024 - 09:07 UTC

    Brazil's Copom keeps Selic unchanged

    Most analysts concurred that there were uncertainties regarding the fiscal deficit

    Brazil's Central Bank (BCB) Monetary Policy Committee (Copom) unanimously agreed Wednesday to keep the Selic basic interest rate at 10.5% per year, Agencia Brasil reported. The measure followed through on June's decision to stop the downward cycle that spanned from August last year until March this year, during which the Selic was lowered by 0.5 percentage points at each meeting until in May it was 0.25 percentage points.

  • Thursday, August 1st 2024 - 07:48 UTC

    US Fed keeps rates unchanged; chair Powell believes a cut rate “could be on the table in September”

    Fed's Powell seeking a delicate balance, keeping rates high enough quell inflation, but also wants to avoid keeping borrowing costs so high that it triggers a recession.

    The Unites States Federal Reserve on Wednesday, following on a two day meeting (July 30/31) kept the key interest rate unchanged at a 23 year high of 5,3%, but chairman Jerome Powell said that the stage was set for the central bank's first rate cut in four years. With lower inflation and a cooler jobs market, this could happen at the next FOMC meeting in September.

  • Wednesday, July 31st 2024 - 09:01 UTC

    Baroness Chapman, new FCDO Minister for Latin America and the Caribbean

    Baroness Chapman, “our ties with Latin America are historic, rooted in shared democratic values. I look forward to renewing our partnership”

    Baroness Jennifer Chapman of Darlington has been appointed UK Parliamentary Under-Secretary of State at the Foreign, Commonwealth and Development Office on 18 July 2024.

  • Monday, July 29th 2024 - 08:59 UTC

    Milei promises rural producers that things will get better

    “The economic program has times and conditions, we have to look at the movie and not just the photo,” Milei argued

    In his appearance Sunday at the Argentine Rural Society Annual Exhibition's main ceremony in Buenos Aires, President Javier Milei promised to remove all export taxes in due time, for which he asked producers to be patient.

  • Saturday, July 27th 2024 - 08:32 UTC

    Moody's upgrades Paraguay's rating amid “robust” economic growth

    “The investment grade is a crucial step for the sustainable development of Paraguay,” Peña said from Paris

    The credit rating agency Moody's Friday upgraded Paraguay's score to “investment grade” thanks to the South American country's robust economic growth. The new status will facilitate access to credit for both the Paraguayan government and the private sector, it was explained.

  • Friday, July 26th 2024 - 17:31 UTC

    Milei and Macron discuss bilateral issues in Paris

    France might play a key role in the modernization of Argentina's Armed Forces after Friday's talks between Milei and Macron

    Presidents Javier Milei of Argentina and Emmanuel Macron of France got together Friday at the Elysee Palace ahead of the opening ceremony of the Paris 2024 Olympic Games to discuss ongoing world affairs and bilateral issues. It is the South American leader's 12th trip abroad since his inauguration on Dec. 10, 2023.

  • Thursday, July 25th 2024 - 20:18 UTC

    Lula insists world hunger is a political choice

    “Spending on armaments rose 7% last year,” Lula noted while funding against world famine is nowhere near

    Brazilian President Luiz Inácio Lula da Silva insisted during a G20 event in Rio de Janeiro that fighting hunger was a political choice, Agencia Brasil reported. The South American leader also pledged to steer his country out of that plight during his ongoing term.