Uruguay announced it will invest 150 million dollars for the eradication of shanty towns, 90% of which are located in Montevideo, half of them in contaminated and flood-prone areas.
“Argentina wants to charge 49 dollars per KW of power transferred from Paraguay to Uruguay, which is five times what it charges Brazil” claims Paraguayan Vice President Federico Franco who described the pretension as “inadmissible and preposterous”.
Uruguay is facing its smallest clip in over a hundred years and the 2011/2012 season’s wool production is estimated to be limited to 32 million kilos according to Joaquin Martinicorena, president of the Uruguay’s Wool Secretariat, SUL.
Uruguay’s textile industry is short of wool and could be forced to import up to 20 million kilos, revealed Uruguayan Wool Secretariat (SUL) CEO Gabriel Capurro during the opening of an ovine industry seminar, organized by the country’s Corriedale breeders association.
Diplomatic relations between Argentina and Uruguay are going through “a very good moment, which can obviously be improved”, but there are “no open conflicts” because the dispute over the Botnia pulp mill has been definitively “buried”, said Argentine Foreign Affairs minister Hector Timerman.
Business climate remained stable in Latin America during the second quarter of the year in spite of signs of the incipient global financial crisis, according to the Brazilian Foundation and think-tank Getulio Vargas. Uruguay and Colombia led the pack of the most pro-business countries in the region.
The following feature piece from Reuters written by Hillary Burke and Malena Castaldi gives an idea of Uruguay’s international standing.
Uruguay’s beef industry is short of cattle and the annual slaughter for 2011 is expected to be the lowest in a decade, similar to ten years ago when the foot and mouth disease crisis that isolated the country from world markets.
Brazilian leading meatpacker Marfrig will not be considering takeovers until 2012, Chief Executive Marcos Molina dos Santos said on Monday after the company posted a second-quarter net loss.
New US claims for unemployment benefits dropped to a four-month low last week, government data showed Thursday, a rare dose of good news for an economy that has been battered by a credit rating downgrade and falling share prices.