Uruguay

Uruguay
Monday, May 4th 2009 - 07:55 UTC

Six companies present offers for potential natural gas deposits in Uruguay

Three years before commercial deposits are confirmed in the River Plate

Six foreign companies have presented offers to explore a natural gas deposit off Uruguay's Atlantic coast, announced Uruguay’s government owned oil company Ancap, Administración Nacional de Combustibles, Alcohol y Portland

Saturday, May 2nd 2009 - 10:19 UTC

Uruguay faces critical energy situation because of insufficient rainfall

Uruguay faces a serious energy situation in the coming months because of a record poor rainfall, revealed the National Energy Director Ramón Mendez. Most of Uruguay’s energy is hydroelectric, “which makes it cheaper, but also highly dependent on the climate”.

Wednesday, April 29th 2009 - 07:47 UTC

Uruguay’s ruling coalition close to a presidential ticket: Mujica-Astori

The winning ticket for next October?

With only two months for the primaries, Uruguay’s ruling coalition seems to have reached an understanding as to how the presidential ticket for October’s general elections will be nominated. Whoever wins next June 28 will lead the ticket and the runner up accepts the Vice president post to seal a united front.

Wednesday, April 29th 2009 - 07:10 UTC

Second pulp mill project in Uruguay could be taken over by Portugal

Layout of the ENCE project at Conchillas - Colonia  next to the River Plate

Spain’s pulp and paper manufacturer Ence is ready to accept 400 million US dollars from its Portuguese competitor Portucel to keep the pulp mill project in Uruguay alive. Portucel would take a considerable share of the mill, forested land and would join Ence in a strategic alliance according to reports in the Spanish financial newspaper Expansion.

Tuesday, April 28th 2009 - 06:05 UTC

Fifth year-running march to protest against Botnia pulp mill

The fluvial protest gatheed several dozen vessels.

For the fifth year running a massive concentration of Argentine environmentalists and picketers marched Sunday across an international bridge linking with Uruguay to protest against a pulp mill built on the Uruguayan side and which has been at the heart of a bilateral political and diplomatic dispute between the neighbouring countries.

Saturday, April 25th 2009 - 10:42 UTC

Uruguayan farmers estimate drought losses in 868 million USD and 12.800 jobs

The intense six month drought suffered by Uruguay this summer cost the farming sector an estimated 868 million US dollars and the loss of 12.800 jobs according to a report from the country’s main farmers’ organization. The loss breaks down to 75% livestock; 11% agriculture; 11% dairy farming and 3% citrus plantations.

Saturday, April 25th 2009 - 10:31 UTC

EIU downgrades Uruguay’s 2009 growth to 0.2%

Uruguay will experience a serious deterioration of its exports in 2009 with impacts on the rest of the economy and growth limited to a mere 0.2%, according to The Economist Intelligence Unit, EIU.

Thursday, April 23rd 2009 - 05:19 UTC

Uruguay beats global expectations and is set to grow 1.3% this year

The International Monetary Fund World Economic Outlook estimates that the Uruguayan economy will expand 1.3% this year and 2% in 2010, following an almost record breaking 8.9% in the fourth quarter of 2008.

Tuesday, April 21st 2009 - 09:00 UTC

Uruguay expects slower growth, higher budget deficit

Minister Garcia remains upbeat about the Uruguayan economy in second half of the year

Uruguay’s Economy minister Alvaro García downgraded the country’s growth prospects for this year while doubling the budget deficit estimate from 1% to 2% of GDP. He made the announcements following Monday’s cabinet meeting when he admitted the Uruguayan economy will expand 2% in 2009, --down from 3%-- with a first negative quarter.

Monday, April 20th 2009 - 07:31 UTC

King of Malaysia arrives in Uruguay for equestrian competition

King Mizan Zainal Abidin during a horse resistance competition

The King of Malaysia is expected Monday in Uruguay to participate in a equestrian endurance competition scheduled for next Friday. An advance party of King Mizan Zainal Abidin, 46, is already in Uruguay selecting horses and addressing security issues for the monarch and his immediate collaborators.

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