Uruguay

Thursday, February 24th 2011 - 07:38 UTC
Spanish fishing vessels abandon Montevideo because of costly labour demands

Fifteen Spanish flagged fishing vessels will no longer operate in Montevideo because labour claims disputes with crew members can include vessel seizures or significant collateral deposits demands by the Uruguayan justice before they can return to sea.
Thursday, February 24th 2011 - 03:27 UTC
Argentina insists trade restrictions “in no way represent an obstacle for Mercosur partners”

Argentine Industry Ministry officials assured Wednesday that non-automatic licenses currently being applied to imports “in no way represent an obstacle for our Mercosur partners” and they have been implemented to monitor imports from outside the region.
Tuesday, February 22nd 2011 - 06:42 UTC
Argentina has ignored Mercosur rules and is now harvesting the benefits

Even when Uruguay and Brazil are in the course of reaching understandings with Argentina regarding the latest trade restrictions to be implemented by President Cristina Fernandez de Kirchner administration, ‘which are not targeted against Mercosur members’, the Brazilian press presents another angle.
Tuesday, February 22nd 2011 - 04:18 UTC
Uruguay/Argentina working on ‘fast track’ to address trade differences

Uruguay and Argentina are discussing a ‘fast track’ mechanism that will allow Uruguayan exports to have quick access to the neighbour’s market thus avoiding the controversial trade restrictions recently announced by the administration of President Cristina Fernandez de Kirchner and which have surprised Mercosur partners.
Monday, February 21st 2011 - 16:45 UTC
Ibero-American Secretary Iglesias recovering from vascular accident

The chief operator from the Ibero-American Secretariat, Spanish born-Uruguayan economist Enrique Iglesias (80) is recovering from a vascular accident and this “will not impede him from retaking normal activities” according to the latest medical reports Monday from the hospital in Montevideo where he is being treated.
Saturday, February 19th 2011 - 06:19 UTC
Ambitious Uruguayan trade and investment incursion to India

Considered one of the most ambitious trade and investment incursions to Asia, a delegation of Uruguayan business people headed by Vice-president Danilo Astori begins Saturday a seven-day official visit to India.
Friday, February 18th 2011 - 16:53 UTC
“Beginning of the end for Mercosur” warn Uruguayan industrialists

The chairman of the Uruguayan Chamber of Industry, Washington Burghi, warned that Argentina’s decision to restrict imports could be “the beginning of the end” for the Mercosur. However Argentine ambassador in Montevideo said decisions are targeted against Asian imports with the purpose of defending Argentine jobs.
Thursday, February 17th 2011 - 22:30 UTC
IMF head scheduled to visit Uruguay and Brazil next March; skips Argentina

IMF Managing Director is scheduled to visit Uruguay next month where he will meet President Jose Mujica and his economic team before flying to Brazil. Dominique Strauss-Khan will arrive in Uruguay from Panama and is not scheduled to visit Argentina, according to Uruguayan government sources.
Wednesday, February 16th 2011 - 22:39 UTC
Uruguay’s debt rated “positive” and edging on investment grade, says DBRS

Canadian credit rating agency DBRS maintained Uruguay’s debt at BB (two steps below investment grade) but elevated prospect from stable to positive. The latest release from DBRS means Uruguay in the next 6 to 12 months could advance to one step below investment grade if “current fiscal discipline is sustained and levels of debt continue the descending trend”.
Wednesday, February 16th 2011 - 17:17 UTC
Uruguayan goods exports mainly commodities; only 2% with high tech input

An overwhelming volume of Uruguayan exports of goods in 2010, --84%-- were commodities and natural resources with some degree of manufacturing but low technological input according to the latest report from the Chamber of Industries.