Uruguay

• Wednesday, August 13th 2014 - 06:41 UTC

  Philip Morris prepared to sue the UK over plain packaging of cigarettes

  

  Philip Morris International, the world's largest tobacco company, is prepared to sue the British government should it implement a law requiring plain packaging of cigarettes, a document showed.

• Tuesday, August 12th 2014 - 06:36 UTC

  Uruguay wants Unasur to reach a consensus position of Gaza Strip conflict

  

  Uruguay will ask fellow members at the Unasur summit to be held in Montevideo later in the month to discuss the Gaza Strip situation, said Foreign minister Luis Almagro who next week will be meeting a delegation from the Palestine Authority. Almagro and president Jose Mujica have been questioned for using the words 'genocide' and 'massacre' to describe the Israeli offensive in Gaza.

• Thursday, August 7th 2014 - 08:02 UTC

  Uruguay inflation hard to break: in July it remained stubbornly above 9%

  

  Inflation in Uruguay remains hard to break having reached 6.17% in the first seven months of the year, the highest since 2007 (6.38%) and over 9% in the last twelve months well ahead of the government's target of 3% to 7%, according to the latest figures from the stats office, INE.

• Wednesday, August 6th 2014 - 08:18 UTC

  Israel disturbed with Mujica's use of 'genocide' to describe the situation in Gaza

  

  Israel is disappointed and concerned with Uruguayan president Jose Mujica statement that described the Israeli offensive in Gaza as’genocide’, pointed out Jerusalem's new ambassador to Montevideo, Nina Ben-Ami. “These are not words to be used by a friend; we're friendly countries going through a difficult moment”.

• Tuesday, August 5th 2014 - 06:21 UTC

  IDB finances photovoltaic solar energy project for private sector in Uruguay

  

  The Inter-American Development Bank (IDB) has approved a 40.9 million dollars loan from its ordinary capital and 25 million from the Canada Climate Fund, which is administered by the Bank, to finance the private sector in Uruguay in the construction, operation and maintenance of a photovoltaic solar energy plant and its related facilities.

• Tuesday, August 5th 2014 - 06:11 UTC

  Uruguay's main fish processing company under administrative protection

  

  Uruguay's largest fishing and processing company FRIPUR, has requested administrative protection, or a voluntary concordat with creditors following financial problems with banks and other providers. Liabilities are over 70 million dollars of which 50 million with two banks, according to sources close to the request. The company employs 1.100 people.

• Monday, August 4th 2014 - 07:41 UTC

  Trying to gauge the impact of Argentina's situation in Mercosur partners

  

  Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.

• Monday, July 28th 2014 - 07:04 UTC

  Uruguay, Paraguay and Bolivia private sectors unite to combat Mercosur protectionist policies

  

  The private sectors from Paraguay, Uruguay and Bolivia agreed to form a business lobby, Urupabol, with the purpose of actively combating protectionist policies and other obstacles implemented inside Mercosur, mainly by senior members Argentina and Brazil.

• Saturday, July 26th 2014 - 07:05 UTC

  Mercosur to consider forming an 'economic forum' with ALBA and Petrocaribe

  

  Uruguay's president Jose Mujica will be attending the next Mercosur presidential summit scheduled for Tuesday, 29 July in Caracas, when the creation of an economic forum Mercosur/ALBA/PetroCaribe will for consideration as part of the agenda.

• Saturday, July 26th 2014 - 06:49 UTC

  IMF warns about 'default' costs for Argentina; calls for debt restructuring mechanisms

  

  The IMF's chief economist warned that a default by Argentina in its battle with holders of its defaulted debt may hurt its economy and the global financial system. Argentina continues to face the fallout of its 2001 debt default, which plunged the country into an economic crisis it is still battling to overcome.