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Uruguay News

  • Netanyahu’s Historic Latin American Tour to Highlight Israeli Tech Sector

    ISRAEL, 2017/09/10 Latin America is “hungry for Israeli technology,” a senior Foreign Ministry official said Tuesday ahead of Prime Minister Benjamin Netanyahu’s historic visit to the region next week. Deputy Director General at the Foreign Ministry’s Latin America and Caribbean Division, Modi Ephraim, said the visit will have historic significance, as it will be the initial by a sitting Israeli prime minister.
  • PM Netanyahu leaves on historic visit to Latin America

    ISRAEL, 2017/09/10 Israeli Prime Minister Binyamin Netanyahu will leave on Sunday evening for a working visit to Latin America. During his trip, Netanyahu will visit Argentina, Colombia and Mexico. This will be the initial visit by a sitting Israeli Prime Minister to Latin America. Paraguayan President Horacio Cartes will travel to Buenos Aires to meet Netanyahu. Netanyahu leaves for trip to Argentina, Mexico, and Columbia, then meets world leaders at UN General Assembly in New York. Accompanying Netanyahu is a delegation of Israeli businesspeople from the fields of agriculture, water, communications and energy. Members of the delegation will hold commercial meetings with their local counterparts. Eonomic events will as well be held in Argentina and Mexico, led by Netanyahu and the Argentine and Mexican heads of national.
  • UNWTO: International tourism – strongest half-year results since 2010

    AFGHANISTAN, 2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
  • Higher earning Why a university degree is worth more in some countries than others

    AFGHANISTAN, 2016/12/11 A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree. The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
  • China looks to deepen ties with Latin America

    ARGENTINA, 2016/12/03 China's president, Xi Jinping, has embarked on a week-long visit to Latin America that will include national visits to Ecuador, Peru and Chile. Mr Xi's trip comes instantly on the heels of a US presidential election that has called the next of US-Latin America relations into question, and highlights China's emergence as a key trade and investment partner for the region.
  • Uruguayan peso breaks the 30.00 UYU per USD mark in January

    URUGUAY, 2016/01/16 On 4 January, the Uruguayan peso broke modern records and breached the 30.00 UYU per USD mark. By 13 January, the peso had continued its depreciatory trend unabatedly and reached 30.65 UYU per USD, marking a 3.2% monthly decrease. The figure is as well 24.6% weaker than the corresponding period in 2015. The currency would have witnessed a starker depreciation,, had it not been for the central bank’s efforts to contain the depreciation of the currency.
  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • Mercosur summit on 21 December; Uruguay takes the helm for next six months

    URUGUAY, 2015/11/09 The announcement was done by Paraguayan foreign minister Eladio Loizaga following a conference with the ambassadors from the group's member nations, Argentina, Brazil, Uruguay and Venezuela. The announcement was done by Paraguayan foreign minister Eladio Loizaga following a conference with the ambassadors from the group's member countries Mercosur heads of national next summit is scheduled for 21 December in Asunción, Paraguay, the country currently holding the group's chair. At the conference the six-month rotating chair will be handed to Uruguay for the initial half of 2016. Mercosur is not going through one of its best periods, and since founded in 1991 as a customs union with the purpose of becoming a common market, has been submitted to the influence of policies tainted with ideology which have severely limited its trade and investment development objectives.
  • Cruise season 2015/16 in Uruguay takes off 6 November

    URUGUAY, 2015/11/09 Montevideo is expected to receive 109 calls of which three will remain overnight and during 22 days two cruise vessels will be docking simultaneously Uruguayan Tourism ministry officials announced that the country expects 170 calls from cruise vessels this coming season which is scheduled to begin 6 November and extend until 10 April 2016. Deputy minister Benjamin Liberoff said that all is ready for the coming season following a raft of meetings with officials from the different ministries and other government offices, plus representatives from the private sector involved in the industry. Montevideo is expected to receive 109 calls of which three will remain overnight and during 22 days two cruise vessels will be docking instantly and three on an exceptional day. An extra 61 calls will take place at the Atlantic sea resort of Punta del Este, with one staying overnight, two visiting vessels on sixteen days and a three-vessel day.
  • Uruguay Progressive reforms and high quality exports spearhead growth

    URUGUAY, 2015/09/28 Buoyed by high levels of investment and sound economic policies, Uruguay’s impressive growth has been led by a strong focus on export-driven development. While innovation and sustainability have enhanced the country’s reputation for quality produce, the increase in trade is also seeing significant development to its ports   Uruguay is currently reaping the benefits of a decade of political and social stability led by the Frente Amplio Coalition, which won re-election last October with former president Tabaré Vázquez returning to lead the government for another five-year mandate after a run-off ballot in November. Since assuming power in 2004, the Frente Amplio has made great strides in terms of the economy, social development, and infrastructure. Uruguay was largely unaffected by the global economic crisis of 2008-09, buoyed by the country’s high levels of foreign direct investment, sound macro-economic policies, and tight control on debt levels, coupled with increased social spending. Inflation remains an issue but the IMF forecasts a decrease to 8.3% in 2015 – Uruguay and the IMF have set inflation targets that the government has prioritized – while the deficit-to-GDP ratio is expected to remain at 6.5% this year and unemployment is relatively low at around 7.4%.