Uruguay

Uruguay
Monday, February 1st 2010 - 08:38 UTC

Punta del Este, “invaded” by 12.000 visitors from four cruises on a single day

The majestic vessels anchored in the bay of Maldonado  (Pic El Pais)

Punta del Este, Uruguay’s main sea resort on the Atlantic coast received last week on a single day an estimated 12.000 visitors from cruise vessels, challenging transport resources but with singular success given the excellent weather conditions and food and leisure facilities in the city.

Monday, February 1st 2010 - 06:09 UTC

Uruguay’s budget deficit in 2009, highest since 2003 pushed by energy costs

A prolonged drought forced Uruguay to buy power from neighbours

Uruguay’s 2009 fiscal budget deficit soared to its highest since 2003 pushed by higher power generation costs and the import of dearer energy according to the official release from the Ministry of Finance. The total is equivalent to 2.1% of GDP and 50% higher than in 2008, which was 1.4% of GDP.

Friday, January 29th 2010 - 09:58 UTC

Uruguay 2009 competitiveness erodes 10.2% compared to main trade partners

Inflation in US dollars in Uruguay was 31%

Uruguay’ competitiveness eroded 10.2% during the twelve months of 2009, which represents the third consecutive annual loss. The data was extracted from Uruguay’s Central Bank Real Exchange Rate index (TCR) which measures variations with the country’s main trade partners.
In 2008 TCR lost 7.4% and the previous year, 7%.

Friday, January 29th 2010 - 09:19 UTC

Brazilian company invests heavily in Uruguayan dairy industry

The goal is a plant to process 1.5 million litres of milk daily

A major Brazilian dairy corporation, Laticinios Bom Gosto will begin to build its affiliate in Uruguay next May to produce powder milk and butter mainly for the Brazilian market.

Friday, January 29th 2010 - 09:12 UTC

Argentine teamsters’ boss penchant for a five-star hotel in Punta del Este

Hugo Moyano, close ally of the Kirchners

The head of Argentina’s powerful trade union confederation (CGT), teamster Hugo Moyano strongly denied Thursday that his union had plans to purchase a hotel in the Uruguayan posh sea side resort of Punta del Este.

Tuesday, January 26th 2010 - 08:53 UTC

Mujica expects a solution to pulp mill conflict with Argentina by next March

Uruguayan president elect met with Entre Rios province governor Urribarri

Uruguay’s president-elect Jose Mujica said that the long standing conflict over the Botnia pulp mill, which has soured relations with neighbouring Argentina, will inevitably be solved but he will only be meeting with Argentine authorities and not with the pickets who are blocking bridges leading to Uruguay.

Friday, January 22nd 2010 - 05:50 UTC

“A repeat of the Argentine situation” in Uruguay “virtually impossible”

Vice-president elect Danilo Astori

Uruguayan Vice-president elect Danilo Astori said that the institutional-financial “solidness” of the country makes it virtually “impossible” a repeat of the current confrontation between the Argentine government and the Central bank.

Thursday, January 21st 2010 - 12:23 UTC

Uruguay had a record tourism industry year in 2009

Minister Hector Lescano satisfied with the latest data

Uruguay had a very good tourist year in 2009 when the number of visitors climbed to 2.1 million and income reached 1.5 billion US dollars which is considered a record, according to Tourism Minister Hector Lescano.

Wednesday, January 20th 2010 - 12:51 UTC

Argentine depositors look for security and discretion in Uruguay’s banks

Montevideo’s Old City concentrates Uruguay’s financial system

Argentines disenchanted with their current government are taking their savings to refuge in neighbouring Uruguay where deposits of non residents have soared 20% during 2009, according to primary estimates from the Central Bank.

Tuesday, January 19th 2010 - 10:43 UTC

Joint scientific research cruise with Spain in Uruguay’s EEZ

Miguel Oliver one of Spain’s state of the art vessels in fisheries research

Spain’s research vessel “Miguel Oliver” set off from Montevideo for a joint scientific cruise with Uruguayan experts with the purpose of surveying Uruguay’s Exclusive Economic Zone, EEZ. The research includes chartering the area and surveying ocean conditions in the sea bed.

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