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☆ Fed and ECB divergence on rate cuts could spell trouble for the euro, economist says
▼ + stars: | 2024-05-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The prospect of the European Central Bank diverging from the Federal Reserve on interest rate cuts is likely to be "particularly negative" for the 20-nation euro zone, according to one economist. The ECB appears on course to cut interest rates in June, barring any major surprises, and recent inflation data has since bolstered the case for an imminent reduction in borrowing costs. It leaves the ECB firmly on track to cut interest rates before the Fed. "The problem of cutting rates right now is that the ECB takes for granted the strength of the euro . Lacalle said a June rate cut from the ECB was not going to make German, French or Spanish businesses take more credit "because a small rate cut is not the driver of credit demand."

Persons: Christine Lagarde, Daniel Lacalle, Gestion, CNBC's, Lacalle Organizations: European Central Bank, ECB, Federal Reserve, CNBC Locations: Frankfurt, Germany, U.S

☆ Sebastian Pinera: Former Chilean president has died in a helicopter crash, says his office
▼ + stars: | 2024-02-06 | by ( Anneclaire Stapleton | Tara John | ) edition.cnn.com time to read: +3 min

CNN —Former Chilean President Sebastian Pinera has died in a helicopter crash in Chile. At the time of the crash, there was widespread rainfall in the area, but it is unclear if the weather caused the crash. Pinera, who was 74 years old, was Chile’s president from 2010 to 2014 and again from 2018 to 2022. The unrest led then-outgoing President Pinera to agree to a popular vote about the need to change the constitution inherited from the dictatorship. “I met President Pinera several years ago.

Persons: CNN —, Sebastian Pinera, of Interior Carolina Tohá, Pinera, Gabriel Boric, “, ”, Pinera’s, Michelle Bachelet, ” Boric, Luis Lacalle Pou, Javier Milei Organizations: CNN, CNN — Former Chilean, Chilean, of Interior, Harvard University, Forbes, Banco Locations: Chile, Ríos, Chilean, United States, San Jose, Uruguay, Argentina

China, the world's second-largest economy, is already a major investor in South America and has offered tariff-free access to its huge consumer market to four countries. But Uruguay faces opposition from other members of the Mercosur bloc who want to settle an FTA with Europe instead. By comparison, other major beef exporters Australia and New Zealand, which have FTAs with China, pay tariffs at 3.3% and 0%. The elevation of ties with Uruguay to the level of Brazil and Argentina also pushes the remaining Mercosur member Paraguay further outside China's global trade and investment network. Agriculture-dependent Paraguay, whose main exports include beef and soybeans, is the last South American nation that has ties with democratically governed Taiwan, which China claims as part of its territory, and not with Beijing.

Persons: Xi Jinping, Luis Lacalle Pou, Florence Lo, Lacalle Pou, Xi, Joe Cash, Ryan Woo, Ella Cao, Toby Chopra, Raju Gopalakrishnan, Chizu Nomiyama, Alexander Smith Organizations: Uruguayan, of, People, REUTERS, New Development Bank BEIJING, Mercosur, South, Nations, New Development Bank, China, United, Mercosur CET, National Meat Institute of, China's National Bureau of Statistics, Thomson Locations: Beijing, China, Uruguay, Argentina, Brazil Mercosur, American, Brazil, South America, Chile, Costa Rica, Ecuador, Peru, Europe, Australia, New Zealand, Shanghai, United States, MERCOSUR Uruguay, Brussels, Montevideo, Mercosur, National Meat Institute of Uruguay, Paraguay, Taiwan

☆ Global leaders react to Milei's Argentina victory
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +4 min

ARGENTINE PRESIDENT ALBERTO FERNANDEZ"I am a man of democracy, and I value nothing more than the popular verdict. I trust that tomorrow we can start working with Javier Milei to guarantee an orderly transition." FORMER ARGENTINA PRESIDENT MAURICIO MACRI"I congratulate Javier Milei for bravely representing the will to advance and prosper that lives in the hearts of Argentines. WHITE HOUSE NATIONAL SECURITY ADVISOR JAKE SULLIVAN"I congratulate Javier Milei on his election as president of Argentina and to the people of Argentina for holding free and fair elections. FORMER U.S. PRESIDENT DONALD TRUMP"Congratulations to Javier Milei on a great race for president of Argentina.

Persons: Javier Milei, ALBERTO FERNANDEZ, MAURICIO MACRI, JAKE SULLIVAN, DONALD TRUMP, ILAN GOLDFAJN, LUIZ INACIO LULA DA SILVA, SANTIAGO PENA, GUSTAVO PETRO, Milei, GABRIEL BORIC, Sergio Massa, LUIS LACALLE POU, DINA BOLUARTE'S, JAIR BOLSONARO, Javier Milei's, ARGENTINA DMITRY FEOKTISTOV, Brendan O'Boyle, Lidia Kelly, Chris Reese Organizations: ARGENTINE, IDB, PARAGUAYAN, America, URUGUAYAN, Thomson Locations: ARGENTINA, Argentina, Argentine, Colombia, Chile, Peru, Argentine Republic, South America, United States, Brazil, RUSSIAN, BRICS

☆ Uruguay government members resign over passport scandal probe
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

Uruguay's President Luis Lacalle Pou reacts as he leaves the South American Summit at Itamaraty Palace in Brasilia, Brazil May 30, 2023. Interior Minister Luis Alberto Heber, a cabinet undersecretary and a chief adviser to President Luis Lacalle Pou will no longer be in the coalition government from Monday, the president announced on Saturday evening. Bustillo on Friday denied any wrongdoing, saying he did not know who Marset was at the time the passport was issued. The president, who returned on Saturday from meeting with U.S. President Joe Biden, said the passport should have been issued to Marset in accordance with Uruguay's laws. Of course not," Lacalle Pou told a press conference in his first public comments about the scandal.

Persons: Luis Lacalle Pou, Ueslei Marcelino, Luis Alberto Heber, Uruguay's, Sebastian Marset, Marset, Francisco Bustillo, Bustillo, Joe Biden, Lacalle Pou, Sarah Kinosian, Mayela Armas, William Mallard Organizations: South American, REUTERS, United Arab Emirates, U.S, Thomson Locations: Itamaraty, Brasilia, Brazil, Uruguayan, Uruguay, Paraguay, United States, Heber, Bustillo

☆ Uruguay Government Members Resign Over Passport Scandal Probe
▼ + stars: | 2023-11-04 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Uruguay's interior minister and two other members of the government resigned on Saturday over a case that has already prompted the foreign minister to quit, involving a passport issued to an internationally wanted drug-trafficking suspect. The investigation is examining how Sebastian Marset, the alleged drug trafficker, received a Uruguayan passport while detained in the United Arab Emirates over forged documents in late 2012. Marset is wanted in Uruguay, Paraguay, Brazil and the United States on drug charges. Bustillo on Friday denied any wrongdoing, saying he did not know who Marset was at the time the passport was issued. The president, who returned on Saturday from meeting with U.S. President Joe Biden, said the passport should have been issued to Marset in accordance with Uruguay's laws.

Persons: Luis Alberto Heber, Luis Lacalle Pou, Uruguay's, Sebastian Marset, Marset, Francisco Bustillo, Bustillo, Joe Biden, Lacalle Pou, Sarah Kinosian, Mayela Armas, William Mallard Organizations: Reuters, United Arab Emirates, U.S Locations: Uruguayan, Uruguay, Paraguay, Brazil, United States, Heber, Bustillo

☆ Putting salt in tap water and drilling wells in parks: one city’s desperate quest to avoid running dry
▼ + stars: | 2023-06-25 | by ( Jack Guy | ) edition.cnn.com time to read: +9 min

The situation has become so bad that residents are being forced to drink salty tap water and workers are drilling wells in the center of the capital to reach the water beneath the ground. Another, the Paso Severino, which normally serves 60% of the country’s population with fresh water, has seen the largest decrease in water levels on record. Water levels could be depleted completely in early July, according to local media reports. Low water levels at the Canelón Grande reservoir on March 13, 2023. As well as tasting salty, Uruguayan officials say the tap water also has a high level of chlorides, sodium, and trihalomethanes.

Persons: Luis Lacalle Pou, It’s, Paso Severino, Ernesto Ryan, Carlos Santos, “, ”, Karina Rando, Lacalle Pou, Santos, Eitan Abramovich, ‘, Daniel Panario, Panario, OSE, Ana Ferreira, ” Friederike Otto, Miguel Doria, hydrologist, Uruguay “, Doria, ” Gerardo Amarilla, ” Doria Organizations: CNN —, National Commission, Defense of Water, University of, CNN, of Public Health, ”, Getty, Parque, of Ecology, University of the, Bloomberg, United Nations Educational, Cultural Organization, UNESCO, Uruguay’s Ministry of, United, Montevideo don’t Locations: CNN — Uruguay, American, Uruguay, country’s, Montevideo, Republic, la Plata, Paso, South America’s, San, ”, University of the Republic, America, Argentina, Caribbean, United Nations

☆ Euphoric messaging around the Spanish economy was a 'big mistake' in the regional elections, expert says
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuphoric messaging around the Spanish economy was a 'big mistake' in the regional elections, expert saysDaniel Lacalle, chief economist at Tressis, speaks to CNBC's Charlotte Reed about the Spanish regional elections

☆ White daisies bloom in Uruguay's streets, in memory of dictatorship missing
▼ + stars: | 2023-05-20 | by ( Lucinda Elliott | ) www.reuters.com time to read: +4 min

MONTEVIDEO, May 20 (Reuters) - In Uruguay's cities and towns, paintings of white daisies, each with a missing petal, have appeared on walls and at windows in recent weeks, in memory of the people who went missing during the country's military dictatorship that began 50 years ago. The Mothers and Family Members of Disappeared and Detained Uruguayans organization says that 197 nationals were forcibly disappeared. Only six bodies of those who disappeared in Uruguay have been recovered so far. Silent demonstrations have been taking place each year on May 20 since 1996, with protesters carrying pictures of the missing and demanding justice. The topic of the dictatorship remains controversial in Uruguay, with some reluctant to revisit this sensitive period of the country's fairly recent history.

☆ Latin America, Caribbean call for more international funding at CELAC summit
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 24 (Reuters) - Countries from Latin America and the Caribbean on Tuesday called for more international funding in the region following economic and climate crises, in a final declaration after a summit held in the Argentine capital of Buenos Aires. The 111-point "Declaration of Buenos Aires" from the Community of Latin American and Caribbean States' (CELAC) seventh summit described how effects of COVID-19, climate change and the war in Ukraine had rippled across the region. "We express our concern that several countries emerged from the pandemic with higher levels of public debt," it said. Venezuelan President Nicolas Maduro sent a recorded message saying he had chosen not to attend due to "permanent conspiracies, the permanent threat, calculated ambushes." Reporting by Lucila Sigal; Writing by Sarah Morland; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Lula proposes Mercosur trade deal with China after EU accord
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Wednesday that he favored an agreement between Mercosur and China in a plan to modernize and open the South American trade bloc to other regions. On a visit to Uruguay to dissuade its government from reaching a deal on its own with China, which would undermine the Mercosur customs union, Lula said the long-awaited Mercosur accord with the European Union must be completed urgently. "We want to sit down as Mercosur and discuss with our Chinese friends the Mercosur-China agreement," Lula said, adding that China is Brazil's biggest trading partner. Talks for the EU-Mercosur trade agreement were completed in 2019, but environmental concerns stalled the deal before it was approved by the legislatures of the EU member states. Uruguay's President Lacalle Pou said that his country needed to open up its economy to the world and it could discuss parallel trade arrangements outside of Mercosur.

☆ Global economy is heading into a decade of low growth, economist says
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal economy is heading into a decade of low growth, economist saysDaniel Lacalle, chief economist at Tressis Gestion, says the global economy is heading into a decade of sluggish growth, but a Chinese reopening will be the biggest positive for 2023.

☆ Uruguay's free-trade deal ambitions rattle South American trade bloc
▼ + stars: | 2022-12-06 | by ( Fabian Werner | ) www.reuters.com time to read: +2 min

At the meeting in the Uruguayan capital Montevideo, the leaders sought to pressure their host over plans for go-it-alone trade deals with China and the Trans-Pacific Partnership (TPP). "The solution is not for each one of us just to do our own thing," said Argentine President Alberto Fernandez, chiding Uruguay. One of the smallest economies in South America, Uruguay has been trying for years to conclude unilateral trade agreements that it considers more beneficial than Mercosur. Of course, if we go in a group it is much better," said Uruguayan President Luis Lacalle Pou. Paraguayan President Mario Abdo Benítez said Mercosur integration was "fundamental and strategic" but indicated flexibility on a demand Uruguay not move forward on trade deals without informing the others.

☆ China's tech sector is likely to be 'very strong' in 2023, economist says
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's tech sector is likely to be 'very strong' in 2023, economist saysDaniel Lacalle, chief economist at Tressis Gestión, says investors should be diligent in considering which sectors in China to invest in, and adds that "it's not going to be a year of looking at an index" or of "being passive."

☆ UK cliff edge arrives as Bank of England prepares to end its emergency bond buying
▼ + stars: | 2022-10-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

The Bank's Financial Stability Committee on Sep. 28 announced a two-week emergency purchase program for long-dated U.K. government bonds. Bloomberg | Bloomberg | Getty ImagesLONDON — The Bank of England's emergency bond-buying program draws to a close on Friday, with traders remaining on edge as volatility in the U.K. bond market looks set to continue. The central bank initially announced the two-week intervention in the long-dated bond market on Sep. 28, having been informed that a number of liability driven investment (LDI) funds — held by pension plans — were hours from collapse as U.K. government bond prices plunged. The BOE's Pill also highlighted that recent actions taken to ensure orderly market function and financial stability sought to preserve the effectiveness of monetary policy, but should not be considered monetary policy actions in themselves. Chris Lupoli, U.K. rates and inflation strategist at BNP Paribas , told CNBC Thursday that the Bank of England remained focused on the temporary purchases serving as a "backstop."

☆ Central banks need to tighten further, argues economist
▼ + stars: | 2022-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCentral banks need to tighten further, argues economistDaniel Lacalle, chief economist at Tressis Gestion, gives his take on central bank action and how governments must tackle the precarious times ahead.

☆ Vaccinul CoronaVac reduce mortalitatea cu 97% faţă de 80% în cazul vaccinului Pfizer (studiu uruguayan)
▼ + stars: | 2021-05-28 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

"Reducerea mortalităţii cauzate de COVID-19, la peste 14 zile după administrarea celei de-a doua doze de vaccin, este de 97% pentru CoronaVac şi de 80% pentru Pfizer", se arată în studiul realizat de Ministerul Sănătăţii din Uruguay în rândul populaţiei locale în 2021.Conform acestui studiu, din numărul total de persoane imunizate cu CoronaVac până la 25 mai (712.716), 5.360 au fost testate pozitiv pentru coronavirus. Dintre acestea, 19 au fost spitalizate la terapie intensivă şi 6 au murit.Potrivit aceleiaşi surse, din numărul total de persoane vaccinate cu Pfizer până la aceeaşi dată (149.329), 691 au fost infectate cu COVID-19, dintre care doar una a fost internată la terapie intensivă şi opt au murit. Studiul precizează că, în acest caz, toate aceste persoane aveau 80 de ani.Astfel, reducerea numărului de cazuri după imunizarea cu CoronaVac este de 57%, în timp ce cu Pfizer este de 75%.În ceea ce priveşte spitalizările la terapie intensivă, studiul a constatat o eficacitate de 95% pentru CoronaVac şi de 99% pentru Pfizer.Cercetarea precizează că aceste cifre sunt preliminare şi "ar trebui interpretate cu prudenţă, deoarece ele nu iau în considerare vârsta pacienţilor, comorbidităţile lor şi grupurile cu expunere mare" la boală, precum angajaţii în domeniul sănătăţii.Aceste detalii statistice vor fi comunicate în rapoartele viitoare.Ţară de 3,5 milioane de locuitori, Uruguay nu a recurs niciodată la izolare şi îşi menţine o mare parte a activităţilor deschise. Guvernul preşedintelui Luis Lacalle Pou mizează pe campania de vaccinare, care a progresat într-un ritm constant de la lansarea sa pe 1 martie.Până în prezent, 47% din populaţie a primit deja o primă doză de vaccin şi 28% a doua.

Persons: Pfizer.Cercetarea, Luis Lacalle Pou Locations: Uruguay, CoronaVac

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