Singapore-based Olam International has successfully gained control of NZX-listed NZ Farming Systems Uruguay. As part of the takeover bid Olam offered 70c a share for all shares, valuing NZ Farming Systems at 171 million NZ dollars, conditional on getting more than half the shares.
The Royal Navy is “disappointed” with Uruguay's treatment of a warship heading to the Falkland Islands, but the incident will not affect “the good defence relationship with the Uruguayans, writes Michael Powell The News from Portsmouth Defence correspondent.
The White House announced Tuesday that, director of the National Economic Council will leave the administration of President Barack Obama and return to Harvard University at the end of the year.
Uruguayan president Jose Mujica told his cabinet that he had contacted the British ambassador to tell him why the Royal Navy HMS Gloucester bound for the Falkland Islands had been authorized to call in Montevideo and a few hours before arriving had clearance withdrawn.
A Spanish flagged trawler that operates in Falkland Islands waters and was heading to Montevideo to unload 700 tons of fish was denied “innocent pass” through Argentine waters and had to steam an additional 17 hours at a cost of 7.000 litres of fuel.
HMS Gloucester, the Royal Navy South Atlantic patrol was banned from entering Montevideo for supplies and fuel, just a few hours before docking and in spite of having been authorized several days before to call in at Uruguay’s capital port.
Uruguayan market analysts don’t believe Brazil’s attempts to prevent its currency from continuing to appreciate will have a relevant impact for Uruguay or for its foreign exchange rate.
Uruguay’s president Jose Mujica said that ‘most probably’ next year his government would be recognizing Palestine and will continue to have “solid” relations with Iran, because it is in “the interest of the country”.
President Jose Mujica said he was not satisfied with growth of the Uruguayan economy but rather ‘mistrustful’ since “good things are not for ever”, nevertheless the country must take full advantage of the situation.
The numbers of tourists arriving in Uruguay during the first eight months of 2010, compared to the same period a year ago, increased 13% and revenue jumped 20.2% according to the latest figures released Thursday by the Ministry of Tourism Hector Lescano.