Uruguay

Monday, May 27th 2013 - 01:49 UTC
Paraguay demands respect from Mercosur, “if not leave us as we are”

The Argentine ambassador to Uruguay, Dante Dovena, assured that authorities are “working intensely” in preparations for the next Mercosur summit scheduled to take place on June 28th in Montevideo. However news form Paraguay doesn’t indicate the same optimism and are demanding respect for ‘the country’s dignity and rule of the law”.
Thursday, May 23rd 2013 - 07:01 UTC
Cristina Fernandez administration limits overseas dollar extractions to a minimum

Continuing with the so called ‘dollar clamp’ Argentine institutions issuing credit cards will further limit the extraction of dollars from automatic cashiers: travellers to neighbouring countries will only be allowed 100 dollars every three months and those visiting non neighbouring countries, 800 dollars per month.
Wednesday, May 22nd 2013 - 18:14 UTC
Uruguay’s booming construction industry anticipates a tough year ahead

The investment in the construction industry in Uruguay soared 26.45% last year over 2011 and reached seven billion dollars, of which 40% correspond to the Brazilian-Chilean pulp mill, Montes del Plata, the country’s largest investment in years equivalent to 2 billion dollars. However there are storm clouds ahead.
Wednesday, May 22nd 2013 - 06:03 UTC
Uruguay: Mujica on a most ambitious mission to China after investments for ports and railways

Uruguayan President Jose Mujica begins on Wednesday the longest and most ambitious of his overseas trips hoping to convince China to invest in infrastructure projects that are crucial for the development of the country and its foreign trade: a deep water port and recovering the rail cargo network.
Wednesday, May 22nd 2013 - 05:56 UTC
Uruguay joins the women’s presidential club: Mujica flies to China and Astori to Colombia

For several days beginning Wednesday Uruguay, as its neighbours, Brazil and Argentina will be ruled by a woman. Lucia Topolansky, Fist Lady but also Senator and third in the succession line will become interim president since her husband is off on an official trip to China and Europe, and Vice-president Danilo Astori will be attending the Alliance of the Pacific summit in Colombia.
Wednesday, May 22nd 2013 - 05:53 UTC
Uruguay’s main problem is high inflation but no policy changes planned, says Astori

Uruguay's main economic problem is high inflation, and policymakers will continue to use interest rates and bank reserve requirements to bring it under control, Vice President Danilo Astori said on Tuesday. Consumer prices in Uruguay rose 8.14% in the 12 months through April, far outside the country's official annual target range of 4 to 6%.
Monday, May 20th 2013 - 07:03 UTC
Uruguay satisfied with the latest cruise season, but there could be difficulties ahead

The Uruguayan 2012/13 cruise season experienced a 10% increase in the number of calls to the ports of Montevideo and Punta del Este totalling 240 and approximately 400.000 visitors between passengers and crew members.
Friday, May 17th 2013 - 06:51 UTC
Argentina’s ‘autarkic project’ worsens bilateral relations and multiplies problems

In an interview with the Spanish government news agency EFE, Uruguayan President José “Pepe” Mujica said Argentina’s economic “autarkic project” “worsens” bilateral ties and “multiplies” trade troubles. Still, he ruled out pressures on Buenos Aires; “they won’t work,” he insisted.
Friday, May 17th 2013 - 06:26 UTC
Uruguay’s José Mujica lauds booming Brazil ties

By Jude Webber in Montevideo - The Financial Times has published a piece on Uruguayan president Jose Mujica and his view on the future and his government’s policy towards two powerful neighbors, Argentina and Brazil.
Wednesday, May 15th 2013 - 07:24 UTC
Uruguay awards French company contract for 1.2bn dollars re-gasification plant

Uruguay awarded French gas and power group GDF Suez SA a contract to build a liquefied natural gas (LNG) re-gasification plant at an estimated cost of 1.125 billion dollars, the government said on Tuesday.