Uruguay

• Monday, May 21st 2012 - 03:34 UTC

  Investors will opt for Uruguay and its legal system, says Spanish ambassador

  

  The seizure of YPF by Argentina can be expected to have a positive repercussion for Uruguay since the country has an enviable legal system and keeps to the rules of the game, said the new Spanish ambassador in Montevideo, Roberto Varela.

• Monday, May 21st 2012 - 01:25 UTC

  Bargains forecasts in Uruguay as Argentine investors withdraw funds following new bank rules

  

  By Dean Steinbeck (*) As much as it defies common sense, Uruguay entered into a tax sharing agreement that will scare off Argentine investors; the same group of people who are Uruguay’s biggest source of capital, investment, and innovation.

• Friday, May 18th 2012 - 03:07 UTC

  Growing doubts about Uruguay’s goal of 1.2GW wind power by 2015

  

  Uruguay’s ambition to have 1.2GW of wind power in operation by 2015 may have to be delayed for several years because logistical problems and tightening returns could make some projects unfeasible.

• Thursday, May 17th 2012 - 21:19 UTC

  Tax-info-exchange accord could see middle-class Argentines abandon Uruguayan banks

  

  The recent tax-info exchange agreement reached between Argentina and Uruguay will make many investors in the Uruguayan financial system take their deposits back to “safes” or “mattresses” in Argentina, warned several economists during a conference on the Argentine economy prospects and its influence on neighbouring Uruguay.

• Thursday, May 17th 2012 - 10:41 UTC

  “Highly positive” cruise 2011/12 season for Uruguay with 213 vessel calls

  

  As “highly positive” was described the 2011/12 cruise season by Uruguay’s Deputy Tourism minister Lilian Kechichian during the ceremony in the port of Montevideo to receive the last vessel of the season.

• Thursday, May 17th 2012 - 10:25 UTC

  Uruguay prepares for a serious power shortage because of lack of rainfall

  

  Uruguay’s state-owned power company UTE, is spending over seven million dollars per day to contain the deficit originated in poor rainfall that threatens production from the country’s four main hydroelectric generating plants.

• Wednesday, May 16th 2012 - 06:13 UTC

  Serious Uruguay/Argentina clash over the long delayed dredging of a River Plate canal

  

  Uruguay called on Argentina to begin the price bidding process for the delayed dredging of a River Plate canal and revealed it was already monitoring the Uruguayan side of a joint commission responsible for deciding on the final contract and which has come under suspicion of corruption.

• Tuesday, May 15th 2012 - 08:25 UTC

  Argentina further delays the dredging of a River Plate canal vital for Uruguay

  

  Argentina formally requested Uruguay to jointly audit the River Plate Administrative Commission, CARP for alleged corruption claims involving the maintenance of the Martin Garcia canal, and which emerged in the Uruguayan press.

• Monday, May 14th 2012 - 05:21 UTC

  HSBC reports sale of affiliates in four countries to GNB Colombia for US 400m

  

  HSBC reported the sale of its affiliates in Uruguay, Colombia, Peru and Paraguay to the Colombian group Gilinski, an operation involving 400 million dollars, of which 80 million for the Montevideo assets.

• Friday, May 11th 2012 - 23:46 UTC

  President Mujica is welcome at the White House whenever he wishes, says US ambassador

  

  United States ambassador Julissa Reynoso said Uruguayan president Jose Mujica is welcome to the White House whenever he wishes, and revealed that Uruguay is in the short list of countries that soon could be exempted from requiring a visa to travel to the US.