Uruguay formally proposed its Mercosur partners to begin a round of negotiations geared to reach trade agreements with the European Union, United States, South Korea and Canada. The proposal had been advanced early August but was formalized early September in Brazil during a meeting of the Mercosur Foreign Relations Commission.
Uruguayan flag air carrier Pluna is facing financial turbulences, a story which seems a repeat of Latinamerican government airlines in the brink of having to ground overwhelmed by debts, unachieved objectives and sheer planning incompetence.
US investment bank JP Morgan said the expected deceleration in Argentina will have an impact for the performance of neighboring Uruguay's economy, according to reports published in the Montevideo press.
Uruguayan Economy minister Danilo Astori who next week steps down to return to his Senate bench and hopefully to become the presidential candidate for the ruling coalition, said that a balanced budget has no political color be it left or right and anticipated that this will be a record growth year for the economy.
Uruguay's 2007/08 wool export increased 8.2% in value totaling 60 million kilos while sheep farming exports reached 320 million US dollars (up 8.4%). China remains as Uruguay's main wool client, according to a release from the Uruguayan Wool Secretariat, SUL.
The Brazilian group Mafrig has announced that it will begin production of cooked beef for the British market at the old Anglo abattoir in Uruguay, which for decades was the leading beef exporter to the United Kingdom.
Consumer prices in Uruguay during August increased 1.02%, surprising private estimates. According to the monthly release from the country's Statistics Institute, INE, accumulated retail inflation in the first eight months of 2008 reached 6.98% and 7.26% in the last twelve months.
Uruguay and South Korea have agreed on a fisheries pact that will facilitate greater cooperation in the development of marine resources, announced the South Korean Ministry for Food, Agriculture, Forestry and Fisheries.
Vote intention for Uruguay's main opposition party continues to inch upwards according to the latest public opinion polls while the ruling coalition suffers sustained but gradual erosion. Uruguayan presidential and congress elections are scheduled for October 2009.
Uruguay suspended a Spanish pulp mill forestry plans following the discovery the group had cleared hectares of natural forest to have it replaced by eucalyptus. An investigation will determine the fine and reparation work the ENCE group will have to undertake.