Uruguay

• Thursday, May 7th 2009 - 08:41 UTC

  Uruguay/Brazil will operate in local currencies to ensure bilateral trade

  

  Uruguay and Brazil expect to have bilateral trade operations in their respective local currencies in place in a few months time, according to the Uruguayan Central Bank. The system is similar to that implemented between Brazil and Argentina and which is beginning to be operational.

• Wednesday, May 6th 2009 - 10:20 UTC

  Private consultants coincide Uruguay is experiencing mild recession

  

  Uruguay will suffer a mild recession in 2009 which could extend until 2010, according to the latest report from private Consultants Oikos. Growth is forecasted to be in the range of 0.5% to 1% this year which is associated to at least two running quarters with falling economic activity.

• Wednesday, May 6th 2009 - 04:36 UTC

  Iran’s statements on Israel divide Uruguayan ruling coalition

  

  Uruguay’ Foreign Affairs official rejection of Iranian president Mahmoud Ahmadinejad latest statements regarding Israel and the Holocaust have caused “disappointment” in certain groups of the ruling coalition since they believe the government “caved in to lobbying from the local Israelite Committee”, reports the Montevideo press.

• Monday, May 4th 2009 - 07:55 UTC

  Six companies present offers for potential natural gas deposits in Uruguay

  

  Six foreign companies have presented offers to explore a natural gas deposit off Uruguay's Atlantic coast, announced Uruguay’s government owned oil company Ancap, Administración Nacional de Combustibles, Alcohol y Portland

• Saturday, May 2nd 2009 - 10:19 UTC

  Uruguay faces critical energy situation because of insufficient rainfall

  

  Uruguay faces a serious energy situation in the coming months because of a record poor rainfall, revealed the National Energy Director Ramón Mendez. Most of Uruguay’s energy is hydroelectric, “which makes it cheaper, but also highly dependent on the climate”.

• Wednesday, April 29th 2009 - 07:47 UTC

  Uruguay’s ruling coalition close to a presidential ticket: Mujica-Astori

  

  With only two months for the primaries, Uruguay’s ruling coalition seems to have reached an understanding as to how the presidential ticket for October’s general elections will be nominated. Whoever wins next June 28 will lead the ticket and the runner up accepts the Vice president post to seal a united front.

• Wednesday, April 29th 2009 - 07:10 UTC

  Second pulp mill project in Uruguay could be taken over by Portugal

  

  Spain’s pulp and paper manufacturer Ence is ready to accept 400 million US dollars from its Portuguese competitor Portucel to keep the pulp mill project in Uruguay alive. Portucel would take a considerable share of the mill, forested land and would join Ence in a strategic alliance according to reports in the Spanish financial newspaper Expansion.

• Tuesday, April 28th 2009 - 06:05 UTC

  Fifth year-running march to protest against Botnia pulp mill

  

  For the fifth year running a massive concentration of Argentine environmentalists and picketers marched Sunday across an international bridge linking with Uruguay to protest against a pulp mill built on the Uruguayan side and which has been at the heart of a bilateral political and diplomatic dispute between the neighbouring countries.

• Saturday, April 25th 2009 - 10:42 UTC

  Uruguayan farmers estimate drought losses in 868 million USD and 12.800 jobs

  

  The intense six month drought suffered by Uruguay this summer cost the farming sector an estimated 868 million US dollars and the loss of 12.800 jobs according to a report from the country’s main farmers’ organization. The loss breaks down to 75% livestock; 11% agriculture; 11% dairy farming and 3% citrus plantations.

• Saturday, April 25th 2009 - 10:31 UTC

  EIU downgrades Uruguay’s 2009 growth to 0.2%

  

  Uruguay will experience a serious deterioration of its exports in 2009 with impacts on the rest of the economy and growth limited to a mere 0.2%, according to The Economist Intelligence Unit, EIU.