Mercosur representatives will be meeting their European Union counterparts this week, beginning Monday, in Brussels in anticipation of another round of trade and cooperation discussions scheduled for March in Buenos Aires. Mercosur members, under the coordination of Argentina, which currently holds the group's chair are attending with a common position reached after several days of videoconferences.
Uruguay's budget deficit reached 4% of GDP during 2016, equivalent to US$ 2.043bn, the worst performance since 1989, according to the latest figures released by the government's stats office, INE. The previous year, 2015 ended with a budget deficit of 3.6% of GDP, which also set a record only comparable to 2002 (3.7%), when Uruguay underwent one of its most challenging financial meltdowns in decades.
Uruguayan president Tabare Vazquez, six cabinet ministers and a numerous business delegation begin on Monday a two weeks official tour of Germany, Finland and Russia to increase political and trade links, particularly in the “new international scenario” and hopefully advancing in locking the long delayed accord between the European Union and Mercosur.
One of President Trump's sons made a business trip to Uruguay in early January that cost taxpayers US$97,830 to put Secret Service and embassy staffers in hotel rooms, according to a new report. Eric Trump visited Uruguay on behalf of the Trump Organization before his father’s Jan. 20 inauguration, The Washington Post reported.
American Field Service (AFS) is offering a scholarship to an outstanding student from the Falkland Islands to take part in a funded exchange program in Uruguay. The scholarship is collaboration between the Falkland Islands Government and AFS which MLA Barry Elsby has been working on.
UPM states that it is not engaged in negotiations on a pulp mill investment with the Uruguayan government. As earlier announced, the company is considering prospects and prerequisites for long-term development in Uruguay. Currently UPM is engaged in discussions with the Government of Uruguay on infrastructure development.
The Japanese car parts maker Takata has agreed to pay US$1bn in penalties in the US for concealing dangerous defects in its exploding airbags. The firm, which also has assembly plants in Brazil and Uruguay, also pleaded guilty to a single criminal charge, the company and the US Department of Justice said..
The comprehensive Double Taxation Convention between Uruguay and the United Kingdom has taken effect from 1 January 2017.
Last December, the CPI actually contracted 0.55%, something similar to what happened twelve months before helped by a significant decrease in the power rate, estimated at 19.65% and which benefitted over a million clients. The logo of the end of the year bonus campaign is “Ute Prize” (UTE is the Uruguayan power company which works under a government monopoly regime).
Uruguay and Argentina have imposed a hake catch ban in the shared fishing zone of the River Plate until the end of March, and also established a full twelve month catch of 50.000 tons.