International

• Tuesday, December 20th 2011 - 22:43 UTC

  Moody's praises UK management but warns of “formidable and rising challenges”

  

  Ratings agency Moody's has given the UK high scores for economic governance but warns the country it faces “formidable and rising challenges”.

• Tuesday, December 20th 2011 - 19:28 UTC

  Mercosur summit suspended following suicide of a top Argentine official

  

  The Mercosur presidential summit in Montevideo has been temporarily suspended following the news that a member of the Argentine delegation had committed suicide which left delegation members in a state of shock.

• Tuesday, December 20th 2011 - 07:31 UTC

  Inter American Bank will hold annual meeting in Montevideo, next March

  

  The Inter-American Development Bank (IDB) will hold its Annual Meeting in Montevideo, Uruguay March 16-19, drawing top economic decision-makers from its 48 member countries, including finance ministers and central bank presidents.

• Tuesday, December 20th 2011 - 07:25 UTC

  Malvinas jurisdictional acts are ‘invalid’ for Uruguay, but UK flagged vessels welcomed in Montevideo

  

  “Any jurisdictional acts coming from Malvinas is invalid for us” and therefore Malvinas flagged vessels are barred from Uruguayan ports, a decision which is extensive to all Unasur members, said Uruguayan Foreign Affairs minister Luis Almagro.

• Tuesday, December 20th 2011 - 01:07 UTC

  IMF chief tells developing countries to prepare for three possible storms

  

  IMF Managing director Christine Lagarde urged on Monday developing countries to shore up their defences, especially foreign exchange reserves, against a possible European recession next year.

• Tuesday, December 20th 2011 - 00:08 UTC

  Rajoy announces to Spain deep spending cuts and tax breaks for companies

  

  Spain's incoming Prime Minister Mariano Rajoy took aim at his country's economic woes Monday, promising deep spending cuts at all levels of government while offering tax breaks for companies.

• Monday, December 19th 2011 - 07:22 UTC

  UK ambassador underlines close historic links between Falklands and Punta Arenas

  

  British ambassador in Chile Jon Benjamin met this week in Punta Arenas with a group of local students from municipal managed schools who were recently part of an exchange program with the Falkland Islands and underlined the close links between the two communities.

• Monday, December 19th 2011 - 03:15 UTC

  Storm sinks Russian oil drilling rig off Sakhalin in 20 minutes: 49 crew lost

  

  An oil drilling rig with 67 crew members on board capsized and sank off the Russian far eastern island of Sakhalin (North Pacific, Sea of Okhotsk) when it ran into a storm while being towed, leaving 49 of the crew unaccounted for, the regional Emergencies Ministry said.

• Monday, December 19th 2011 - 01:35 UTC

  Spain criticizes Argentina for trying to intercept fishing vessel when leaving Montevideo

  

  Spanish ambassador in Uruguay Aurora Diaz-Rato criticized Argentina following an incident with an Argentine Coast Guard unit which tried to intercept a Spanish flagged vessel when exiting Montevideo en route to the Falkland Islands.

• Monday, December 19th 2011 - 01:08 UTC

  Uruguayan navy air patrol escorts Spanish fishing vessel heading for Falklands

  

  As Spanish vessel with Falkland Islands fishing licence was harassed Saturday morning by the Argentine Coast Guard on leaving the port of Montevideo for the South Atlantic and had to reroute course in Uruguayan waters until reaching the high seas.