Uruguay

• Monday, February 1st 2010 - 06:09 UTC

  Uruguay’s budget deficit in 2009, highest since 2003 pushed by energy costs

  

  Uruguay’s 2009 fiscal budget deficit soared to its highest since 2003 pushed by higher power generation costs and the import of dearer energy according to the official release from the Ministry of Finance. The total is equivalent to 2.1% of GDP and 50% higher than in 2008, which was 1.4% of GDP.

• Friday, January 29th 2010 - 09:58 UTC

  Uruguay 2009 competitiveness erodes 10.2% compared to main trade partners

  

  Uruguay’ competitiveness eroded 10.2% during the twelve months of 2009, which represents the third consecutive annual loss. The data was extracted from Uruguay’s Central Bank Real Exchange Rate index (TCR) which measures variations with the country’s main trade partners.
  In 2008 TCR lost 7.4% and the previous year, 7%.

• Friday, January 29th 2010 - 09:19 UTC

  Brazilian company invests heavily in Uruguayan dairy industry

  

  A major Brazilian dairy corporation, Laticinios Bom Gosto will begin to build its affiliate in Uruguay next May to produce powder milk and butter mainly for the Brazilian market.

• Friday, January 29th 2010 - 09:12 UTC

  Argentine teamsters’ boss penchant for a five-star hotel in Punta del Este

  

  The head of Argentina’s powerful trade union confederation (CGT), teamster Hugo Moyano strongly denied Thursday that his union had plans to purchase a hotel in the Uruguayan posh sea side resort of Punta del Este.

• Tuesday, January 26th 2010 - 08:53 UTC

  Mujica expects a solution to pulp mill conflict with Argentina by next March

  

  Uruguay’s president-elect Jose Mujica said that the long standing conflict over the Botnia pulp mill, which has soured relations with neighbouring Argentina, will inevitably be solved but he will only be meeting with Argentine authorities and not with the pickets who are blocking bridges leading to Uruguay.

• Friday, January 22nd 2010 - 05:50 UTC

  “A repeat of the Argentine situation” in Uruguay “virtually impossible”

  

  Uruguayan Vice-president elect Danilo Astori said that the institutional-financial “solidness” of the country makes it virtually “impossible” a repeat of the current confrontation between the Argentine government and the Central bank.

• Thursday, January 21st 2010 - 12:23 UTC

  Uruguay had a record tourism industry year in 2009

  

  Uruguay had a very good tourist year in 2009 when the number of visitors climbed to 2.1 million and income reached 1.5 billion US dollars which is considered a record, according to Tourism Minister Hector Lescano.

• Wednesday, January 20th 2010 - 12:51 UTC

  Argentine depositors look for security and discretion in Uruguay’s banks

  

  Argentines disenchanted with their current government are taking their savings to refuge in neighbouring Uruguay where deposits of non residents have soared 20% during 2009, according to primary estimates from the Central Bank.

• Tuesday, January 19th 2010 - 10:43 UTC

  Joint scientific research cruise with Spain in Uruguay’s EEZ

  

  Spain’s research vessel “Miguel Oliver” set off from Montevideo for a joint scientific cruise with Uruguayan experts with the purpose of surveying Uruguay’s Exclusive Economic Zone, EEZ. The research includes chartering the area and surveying ocean conditions in the sea bed.

• Friday, January 15th 2010 - 11:13 UTC

  Mujica and Mrs. Kirchner willing to improve bilateral relations

  

  Uruguayan president elect Jose Mujica said “there is no solution out there” for the situation of the Finnish paper mill Botnia, but “we are willing to improve the relationship between both countries”.