Buenos Aires Taxi Drivers, Industry Divided Over Mobile Apps

[soliloquy id=”20969″] Buenos Aires residents and visitors are the beneficiaries of a new wave of technology designed to make calling a taxi easier, faster and more transparent. And while many Buenos Aires taxi drivers have been early adopters of mobile apps, the industry they work for is not exactly giving new technology un abrazo grande. The Complicated Relationship Between Buenos Aires …

Montevideo Shopping’s Multi-Million Dollar Expansion For Forever 21

[soliloquy id=”20644″] Montevideo Shopping, the first indoor shopping center in Uruguay, is undergoing a US$6 million expansion in order to welcome the Uruguay flagship store of Los Angeles-based retailer Forever 21. The new multi-level wing of the galleria will feature over 20,000 square feet of retail space in addition to a warehouse and logistics center to receive the low-priced merchandise …

Foreign Companies Begin Oil Exploration In Uruguay’s Norte Basin

[soliloquy id=”20452″] The next chapter in Uruguay’s quest for reduced dependence on foreign oil commenced this week with the announced seismic exploration of two large oil blocks in Uruguay. Dallas-based Schuepbach Energy International (SEI) holds the concessions for the Salto block which occupies 925,000 acres entirely in Salto and the Piedra Sola block which encompasses over 2.5 million acres in four northern …

Argentina Country Risk Falls To Lowest Level In 3 Years

[soliloquy id=”20182″] Exactly one week ago the US Supreme Court rejected Argentina’s appeal in the high-profile debt case with holdout hedge funds led by NML Capital and Aurelius Capital Management stemming from the country’s 2001 default. The week that followed was full of mixed signals, speculation and posturing on both sides of the case. Considering the market’s disdain for uncertainty, Argentine stocks …

Moody’s Upgrades Uruguay Credit Rating To Baa2

[soliloquy id=”19964″] Uruguay achieved its highest credit rating in history today when Moody’s Investors Services upgraded its rating for Uruguay government bonds to Baa2 from Baa3 with a stable outlook. According to the official press release, Moody’s based the ratings upgrade on three main drivers: the strengthening of Uruguay’s credit profile with adequate buffers and a lower debt:GDP ratio, declining …