By Rachel Samayoa

The Government reported that the beef export from Uruguay between January and March rose 9.9 percent thanks to more business in the region. 91,054 tons of meat where sold , increasing revenues by 11.8 percent over the same period, surpassing the record set in 2011 of 82,814 tons exported.

Other factors that contributed to the exports increase were the significant product placement in several member countries of Mercosur and the Free Trade Agreement (NAFTA).

By Melany Sierra

The Economic Freedom Index 2012, conducted by the Centre for Economics and International Trade of "The Heritage Foundation" relocated Chile from position 11th to the 7th with a score of 78.3 from 179 countries. Chile now ranks as number one in Latin America in this matter.

Minister Secretary General of the Presidency, Cristian Larroulet, spoke during the presentation: The index had been showing a decline with the government of former President Bachelet. This is reflected since from the first time in 15 years Chile had grown on average less than the growth of the global economy. So they spoke abroad that Chile fell asleep and the Index of Economic Freedom proved that. This situation is changing and we are now top ten in the world ranking.

By Saaron Rose

As part of the second Latin American Investment Forum held in London, sixteen Latin American countries, including the country of Guatemala, El Salvador, Colombia and the Dominican Republic, among others, presented to private entrepreneurs different business plans for investment in areas like oil, telecommunications and transport.

Representatives of different countries said they have had a noticeable boom in foreign investment within their territories and increased road infrastructure, and they highlighted as well that they would be willing to modify and develop a legal framework to enable and expedite the work and the development of telecommunications, in both public and private sectors.

By Tony Paul

The president of Aerolineas Argentinas, Antonio Mata, accused the companies with the Commission for Protection of Competition.

According to statements by Mata, since last March 1 companies calculated the value of the dollar on the open market, instead of considering the change of 1.40 pesos per dollar as they had done.

By Robert Damon

The adequately employed population increased by 8.3 percent in metropolitan Lima in the moving quarter November-December 2011-January 2012, equivalent in absolute numbers to 202,000 people, reported on Wednesday the National Institute of Statistics and Informatics (INEI).

According to the Permanent Survey of Employment (EPE in Spanish) for the rolling quarter mentioned, the underemployed population decreased by 4.9 percent the equivalent of 92.300 people.

 

By Lara Holmes

Minister of Foreign Trade and Tourism (Mincetur), Jose Luis Silva Martinot, estimated Wednesday that the Peruvian ports will receive about 37 luxury cruise ships this year, of which 30 will arrive at the port of Callao.

He recalled that the previous day (Tuesday) Seaborn Sojourn and Artlana with 450 and 1,200 passengers respectively arrived at the North Terminal of Callao the Multi port.

 

By Eliane Portillo

Argentina's National Commission for the Defense of Competition will investigate Repsol-YPF, Shell, Esso, Petrobras Argentina and other Oil companies for their allegedly dominant positions in the wholesale diesel market to inflate prices for the transportation industry.

Speaking at a press conference on Monday, Planning Minister Julio de Vido noted that the measure responds to an accusation from the eight chambers of passenger transportation.

De Vido requested an in-depth investigation into the problem that affects Cargo and Passenger public transportation.

The State plans to fight and end the monopolies and power groups that dominate the oil market to guarantee public transportation for the population.

 

 

By Eliane Portillo

Barclays wealth management arm has closed its office in Buenos Aires, for strategic reasons and will serve Latin American clients from the US and Europe, the UK bank said in a statement.

Barclays Wealth is aligning how we serve clients in all Latin American countries, the statement reads.

The move does not imply that Barclays is retreating from the Latin American wealth management business, a bank spokesperson told.

The Buenos Aires branch Barclays Sudamerica was Barclays' only wealth management office in Latin America.

Barclays Wealth had total client assets of 170bn pounds (US$272bn) as of June 30, with offices in more than 20 countries.

 

By Eliane Portillo

Agriculture Minister Mendes Ribeiro Filho predicted that Brazil will export more than 100 billion dollars in agricultural products, which will exceed last year's record figure.

We only need to grow by 5.7 over 2011, when the country exported more than 94 billion dollars in agricultural products, Ribeiro Filho said on Tuesday.

Exports from Brazilian agribusiness last year set a new record since 1997, when the historical series of this parameter began, and it was 24 percent higher than the more than 76 billion dollars sold in agricultural products in 2010.

The Agriculture official said that soy, the sugar alcohol complex and meats are the products that contributed to these good results in 2011, and added that main agribusiness markets are the European Union, China, the United States, Russia and Japan.

By Eliane Portillo

Brazilian industry grew 0.3 percent in November of 2011 after three consecutive months of recession, according to figures from the Brazilian Institute of Geography and Statistics (IBGE) released on Thursday.

IBGE recalled that the Brazilian industry underwent consecutive shrinking of 0.1 percent in August, 1.9 percent in September and 0.7 percent in October last year; therefore the accumulated loss was of 2.6 percent, and the result in November was not enough to make up for it.

Regarding the 27 industrial sectors assessed by IBGE, 18 reported growth and nine reported falls in November, 2011.

The strongest expansions were reported in machine and equipment (4 percent), cars (1.5 percent), edition and printing (3.4 percent), metal products (3.9 percent) and clothing (9.4 percent).

By Eliane Portillo

The Senate of Uruguay approved the energy security agreement with Venezuela, whose validity is provided for 10 years automatically deferrable periods of five years, reported the Foreign Ministry.

According to a communiqué, the bill reaffirms the principles of solidarity, complementarity and sovereignty in the use of natural resources and installs a South American view, promoting regional energy integration.

By Eliane Portillo

The minimum wage (MW) in Uruguay will increase by eight percent as of January 1, 2012, announced the Ministry of Labor and Social Security (MTSS) in a statement on its website.

That way, lower wages will go from 6,000 pesos (the national currency) to 7,200, which is equivalent to about $ 365 (USD), depending on current exchange rates.

The MTSS statement reported that it is the second largest increase in the current term (2005-2010), and stressed its commitment to economic growth to reach all people in this country.

The Ministry said that the increase is in line with the results of the fourth round of negotiations in the Wages Councils, which represents a strong impact on the rise in lower wages.

 

By Eliane Portillo

Brazil's national airport authority Infraero has hired local engineering firm Laghi Engenharia to carry out preliminary studies and develop basic and executive projects for the expansion of the passenger terminal at Viracopos international airport in São Paulo state, an Infraero spokesperson told.

The company signed a 1.86mn-real (US$1mn) contract with us this month [Dec] and is scheduled to start developing the plan in January, the spokesperson said,

 

By Eliane Portillo

Brazilian petrochemical company Braskem (NYSE: BAK) will next year focus investments on Brazil, according to CEO Carlos Fadigas.

The firm plans spend around US$5bn on new productive capacities in the country, Fadigas told local paper. 

By Eliane Portillo

The Brazilian president special advisor for international affairs, Marco Aurelio Garcia, said on Wednesday that there is some dissatisfaction with the delay by the Paraguayan Congress to approve Venezuela’s membership in MERCOSUR.

Venezuela's membership in MERCOSUR (Southern Common Market: Argentina, Brazil, Paraguay and Uruguay) was already passed by the congresses of Argentina, Brazil and Uruguay, and even by the Paraguayan government, but the legislature of that country has not decided yet, Garcia told a news conference with foreign correspondents.

Meanwhile, Uruguayan President Jose Mujica said on Wednesday in Montevideo that the next MERCOSUR Summit, scheduled for December 20 in Montevideo, will try to speed up Venezuela's admission in the organization.

 

 

 

By Eliane Portillo

Metallurgical industrialization, investment in food production, creation of employment policies, and public safety are being debated by Bolivian social organizations in a summit that will conclude in this city on Thursday.

About 500,000 representatives from institutions and social organizations are attending the Plurinational Meeting that will conclude today, after discussing economic development, security and food sovereignty, wages, employment and job stability, basic services and housing, among other issues.

The beginning of the melting and refining processes was the main proposal of the mining commission, the sector's Minister Jose Pimentel said.

According to Deputy Rural Development Minister Victor Hugo Vazquez, the commission on Land and Food Safety stated that the municipalities invest more economic resources for the production of food.

Discussions of this commission focused on six relevant points: production, land, irrigation, mechanization, investment for the productive sector, transformation and industrialization, and market openings.

In other issues, indigenous and native rural economic organizations called for a law to forbid the foreign ownership of lands in Bolivia, reported Carlos Leon, its main representative.

Business people, analysts and academics also agreed on forging results aimed at creating more jobs and improving the incomes of Bolivians.

 

By Eliane Portillo

Brazil plans to invest in the Honduran energy sector under a special regime, local press reported when commenting on the talks held between the Presidents of Brazil, Dilma Rousseff, and Honduras, Porfirio Lobo.

The two presidents met in Argentina, where they attended the inauguration ceremony for the second term of President Cristina Fernandez.

Brazilian companies plan to carry out hydroelectric projects through loans or funds from the Brazilian Development Bank in Honduras.

Also addressed in the meeting were the fields of security and agriculture, as well as possible research works for oil prospecting in the Honduran coasts.

We are fostering renewable energy programs, because 80 percent of our energy is thermal, and we have invited Brazilian firms for development, said Lobo.

By Susana Lima

According to the Ecuadorian Tourism Ministry, tourism increased by 14% by the end of November when there were 1, 027.686 foreigners registered that visited the country, in contrast to last year, when there were 1, 047.098 foreigners visiting the country.

The National Directorate of Immigration revealed that Colombia is the country that leads the number of foreigners who come to Ecuador on a list of 15 countries. The implementation of the Comprehensive Tourism Marketing Plan 2010-2014 was the reason for the increase according to a ministry statement, because with this plan is expected to position Ecuador as a leader in sustainable tourism worldwide.

During the period from January to November, 235, 516 Colombians visited the country, followed by U.S. with 215,979, Peru with 133,985, Spain with 55, 441, Argentina with 33, 226, Venezuela with 32,485, Chile with 30,998, Germany, 24,524, Cuba with 22,278, Canada with 22,104, Britain, 21.402, France 19,084, Mexico 16,672, Brazil 16,110, and Italy with 13,693.

On the same area and same period in 2010, the South American markets in particular, showed a slight increase, Colombia with 29%, Chile 21%, Venezuela 18%, Argentina and Brazil with 17%, respectively, and Mexico with 15%.

On the other hand, European markets show a direct bearing growth to 2010. During this period, Germany has a percentage change of 7%, Canada 4%, Spain 3%and Britain 2%.

By Eliane Portillo

The vice president for the Economic-Productive Field of Venezuela, Ricardo Menéndez, highlighted on Tuesday the importance of agreements signed recently with Colombia to create 3,800 new tariff codes.

Contracts signed on Monday in the presence of Presidents Hugo Chavez (Venezuela) and Juan Manuel Santos (Colombia) indicate the scope that the trade exchange between the two countries will have, only exceeded by their trade with the Andean Community, said Menendez.

He said that all the tariff codes shared in the past five years, and their consignments, will be included by year end in the framework agreements recently inked.

Menendez added that the recently revitalized trade exchange will help increased the role of the State, and once the Andean Community economic rules are replaced, a new mechanism of productive relations will emerge.

The objective is to develop trade exchange models different from those in the free trade agreements, which have damaged our economies, said Menendez.