Uruguay

Uruguay
Tuesday, September 16th 2014 - 05:25 UTC

Uruguay's economy expands 3.7% during the second quarter over a year ago

The performance of power, gas and drinking water had a sound effect for the economy

Confirming ten years of sustained expansion the Uruguayan economy advanced 2% in the second quarter over the first quarter and 3.7% over the same period a year ago, according to the latest reports from the Central bank.

Friday, September 12th 2014 - 01:39 UTC

Singapore Olam will invest 80m in dairy processing facility in Uruguay

The plant is expected to begin production in 2017 with a potential of a million liters per day

Singapore based Olam International's wholly-owned subsidiary New Zealand Farming Systems Uruguay will be investing 80 million dollars to establish a new dairy processing facility in Uruguay.

Thursday, September 11th 2014 - 04:48 UTC

Judge Griesa will wait for appeals court ruling before acting on holdouts' Citibank subpoena

“It almost goes without saying whatever the court of appeals decides will have an effect on the issues we're dealing with here,” Griesa said.

US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.

Tuesday, September 9th 2014 - 04:57 UTC

Opposition parties five points ahead of Uruguay's ruling coalition for October election

The Broad Front and Vazquez managed to contain erosion and actually recovered a point

With less than fifty days to national elections when Uruguayans will vote for president and a new parliament (26 October), public opinion polls indicate that the ruling coalition until a few months ago the undisputed winner, faces a runoff and whoever wins will have to rule with a divided legislative.

Tuesday, September 9th 2014 - 04:46 UTC

Uruguay opens second pulp mill with annual production capacity of 1.45 million tons

Mujica during the opening of the pulp mill that is the single largest investment in the country's history

Uruguay officially inaugurated on Monday a second pulp mill, Montes del Plata, on the River Plate, belonging to Chile's Arauco and Swedish-Finnish Stora Enso, which is considered the largest single investment in the country and will have an annual production of 1.3 million tons.

Monday, September 8th 2014 - 07:25 UTC

Belize supports Uruguay's Almagro for OAS Secretary General next year

Uruguay's Foreign minister Luis Almagro is a strong candidate to succeed Jose Miguel Insulza at the OAS helm

Belize says it will support Uruguay for the position of secretary general of the Organization of American States (OAS) and downplayed any suggestion that its non-support for the Guatemalan candidate was linked to the ongoing territorial dispute between the two countries.

Friday, September 5th 2014 - 07:13 UTC

Uruguay's main presidential opposition candidate suffers “Watergate break-in” crime

Luis Lacalle Pou surprisingly won his party's primaries and is steadily cutting differences with the ruling coalition's candidate

Uruguay's main opposition candidate for October's contested presidential election was the victim of a “Watergate break-in” crime at the offices of the agency which is running his surprisingly successful campaign.

Thursday, September 4th 2014 - 05:00 UTC

Argentina looks to Uruguay to issue sovereign bonds and pay creditors

Uruguay is a trustworthy market for US institutional funds, said Pignanelli

A former chairman of Argentina's central bank board, Aldo Pignanelli considered neighboring Uruguay could be a “trustworthy” option for Argentina to issue sovereign bonds and pay creditors. Uruguay has an outstanding international reputations regarding abiding by contracts and ensuring legal security, added the Argentine banker.

Tuesday, September 2nd 2014 - 07:01 UTC

Controversy in Uruguay over transfer of Guantanamo prisoners, before or after October election

Ambassador Reynoso said that the US does impose a date for the transfer, although it is preferable it happens before Mujica steps down

US ambassador in Montevideo, Julissa Reynoso said that Washington “does not impose a date” for the transfer and arrival of the Guantanamo prison detainees to be accepted by Uruguay, but admitted that the ideal would be for this to happen before the end of President Jose Mujica's mandate next March first.

Tuesday, September 2nd 2014 - 06:34 UTC

Spain's Iberia returns to Carrasco with 2.300 seats a week on the Montevideo-Madrid route

The Iberia jet landed at 7:15 a.m. at Montevideo's Carrasco International Airport after a 13-hour non-stop flight that covered 10,000 kilometers.

Spain's flag carrier Iberia made its return to Uruguay on Monday after being out of the South American country's market for 18 months, marking the resumption of a route that will offer up to 2,300 seats to travelers on a weekly basis. Iberia, a unit of IAG, will be providing service on the Madrid-Montevideo and Montevideo-Madrid route with four weekly flights.

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