Chile’s Arauco the forestry and pulp unit belonging to the Copec group, trebled profits in the first quarter boosted by higher international prices and sale volumes particularly pulp, according to the company’s latest financial report.
Real estate operations in Uruguay’s hottest resort and leisure farms’ area totalled 2.55 billion US dollars in the twelve months to April 2011, equivalent to daily deals involving 7 million USD.
Roubini General Economics, RGE, founded by Nouriel Roubini the economist described as Dr. Doom for having predicted long before his peers the US financial and mortgage crisis said the Uruguayan government must apply additional measures to higher rates and bank reserves, to help contain inflation.
The scarcity of qualified labour and the increase in costs have become a growing concern for the pulp mill that Chilean and Scandinavian investors are building in Conchillas, Uruguay.
Uruguay’s beef exports in the first four months of 2011 have been lower in volume but higher in revenue compared to the same period a year ago. Something similar is happening with lamb although the fall in volume was even greater.
Uruguay harvested a record crop of rice this year totalling 1.65 million tons and marked the second highest area planted with the cereal, 195.000 hectares compared to the 200.000 of eleven years ago.
Uruguay will be holding next month the presidency of the UN Human Rights Council during 2011/2012 and for this motive UN Secretary General Ban Ki-moon is scheduled to visit Uruguay June 16th when he will be meeting President Jose Mujica and other top officials.
Three Korean jiggers which normally spend off-season time in Montevideo have moored in the port of Fray Bentos on the River Uruguay, as part of the de-centralization process launched by Uruguayan port authorities.
One of the world’s biggest tobacco companies is launching a claim against Uruguay for considering the country’s legislation commercially damaging to the company. Philip Morris corporation has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID), a World Bank branch.
Uruguay and Argentina have received interest from 39 companies to build infrastructure for a floating LNG terminal, a project they are fast-tracking to start operations by the end of 2013, a project adviser said Tuesday.