Economy

• Saturday, September 10th 2011 - 06:29 UTC

  Uruguay offered cheaper power from private wind-farm developers

  

  Uruguay could enjoy 1.3 billion dollars of wind farms in the next four years after developers said they could provide electricity cheaper than conventional energy sources.

• Saturday, September 10th 2011 - 06:22 UTC

  IMF chief calls on economic leaders to act with “conviction and urgency”

  

  Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a “dangerous new phase” of recovery.

• Saturday, September 10th 2011 - 06:12 UTC

  US says Germany must give “unequivocal” financial support to weaker Euro states

  

  United States pressed Europe's strongest economies on Friday to give “unequivocal” financial support to weaker Euro zone states to overcome a debt crisis that threatens the world economy.

• Saturday, September 10th 2011 - 06:04 UTC

  Germany prepares to support banks exposed to a possible Greek default

  

  Germany’s Chancellor Angela Merkel government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.

• Saturday, September 10th 2011 - 06:02 UTC

  China’s inflation eases in August and industrial output soars 13%

  

  China's rate of inflation eased in August, after hitting a three-year high in July, according to the National Statistics Bureau. Consumer prices in the world's second largest economy rose 6.2% from a year earlier, down from 6.5% in July.

• Saturday, September 10th 2011 - 05:27 UTC

  UK farmers claim Uruguay’s ‘Hereford’ meat labelling is ‘misleading’

  

  The UK National Farmers Union, NFU, has called on Asda supermarkets to change its labelling policy after it emerged that its meat marked ‘Hereford Prime Beef Sirloin Steak’ is sourced 6,800 miles away in Uruguay.

• Saturday, September 10th 2011 - 00:42 UTC

  China and Argentina reaffirm strategic partnership; prepare for 2012 celebration

  

  China and Argentina have agreed to further enhance mutual trust and their strategic partnership as the two emerging economies are playing an increasingly important role in the world arena.

• Saturday, September 10th 2011 - 00:34 UTC

  India and Uruguay sign agreement to avoid double taxation

  

  India and Uruguay signed this week a Double Taxation Avoidance Agreement (DTAA) for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital.

• Friday, September 9th 2011 - 22:40 UTC

  Argentina to propose temporary increase of some import tariffs in Mercosur framework

  

  Argentina is considering a temporary increase of tariffs on some imports, following on Brazil’s steps, but is also thinking of a formal proposal to its Mercosur partners.

• Friday, September 9th 2011 - 22:05 UTC

  Mercosur and Mexico auto industry agree to jointly compete with Asia

  

  Mercosur and Mexico signed an agreement which virtually liberates all bilateral auto industry trade and opens prospects for joint undertakings world wide. The event took place in Montevideo, administrative capital of Mercosur.