Uruguay

• Thursday, February 9th 2017 - 20:41 UTC

  Uruguay's budget deficit 4% of GDP in 2016, worst performance since 1989

  

  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.

• Monday, February 6th 2017 - 22:08 UTC

  Uruguayan president and business delegation begin tour of Germany, Finland and Russia

  

  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.

• Saturday, February 4th 2017 - 12:29 UTC

  Eric Trump's trip to Uruguay to promote a tower cost US taxpayers almost US$ 100.000

  

  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.

• Tuesday, January 31st 2017 - 10:41 UTC

  Scholarship in Uruguay available for a Falklands student

  

  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.

• Thursday, January 26th 2017 - 20:04 UTC

  UPM comments market speculations concerning an alleged pulp mill investment in Uruguay

  

  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.

• Monday, January 16th 2017 - 17:46 UTC

  Airbags maker Takata agrees to pay US$ 1bn in penalties for concealing defects

  

  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..

• Friday, January 13th 2017 - 08:20 UTC

  UK/Uruguay double taxation convention takes effect

  

  The comprehensive Double Taxation Convention between Uruguay and the United Kingdom has taken effect from 1 January 2017.

• Saturday, January 7th 2017 - 07:14 UTC

  Uruguayan bureaucrats good at cooking inflation numbers

  

  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).

• Friday, January 6th 2017 - 10:30 UTC

  Hake ban in the shared Argentina/Uruguay River Plate and outer zone

  

  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.

• Wednesday, January 4th 2017 - 09:59 UTC

  Summer storm strikes Montevideo and coast line causing chaos and 19 injured

  

  At least 19 people injured one of them seriously, was the result of the summer storm with winds of up to 120km that struck the Uruguayan capital Montevideo, and the eastern coast line to almost the border with Brazil, some 350kms away. The report from the national Healthcare system, SAME, said that most patients are from Montevideo and three from the adjoining seaside resorts.