Uruguay Financial News

KaleidEO Space Systems, became the first Indian firm to use edge computing for taking hi-resolution image with the help of an orbiting satellite in real-time. With this, the Bengaluru based startup, achieved a new milestone by becoming first Indian firm to demonstrate Edge computing in space. The company used deep learning based algorithms to analyze imagery in-orbit, as captured by Satellogic - a satellite constellation and data provider company based out of Montevideo, Uruguay.

India and Brazil on Sunday agreed to work together for the expansion of India-Mercosur preferential trade agreement (PTA) to further promote economic ties, an official statement said. Mercosur is a trading bloc in Latin America, comprising Brazil, Argentina, Uruguay and Paraguay. The issue came up for discussion during the meeting of Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva here at the sidelines of the G20 Summit. «Expressing satisfaction over the growing trade between India and Mercosur, both leaders agreed to work together for the expansion of India-Mercosur PTA during Brazil's Mercosur Presidency, to leverage the full potential of this economic partnership,» a joint statement issued after the meeting said. The two countries also welcomed the establishment of the India-Brazil Business Forum as a dedicated platform for private-sector collaboration. «The leaders noted with satisfaction the conclusion of domestic procedures for the entry into force of the India-Brazil Social Security Agreement,» it added. India-Mercosur preferential trade agreement (PTA) came into effect on June 1, 2009. In such agreements, two countries reduce or eliminate customs duties on a limited number of goods agreed between them.

SAO PAULO (Reuters) -Brazil's Foreign Relations Minister Mauro Vieira said on Wednesday the Mercosur bloc of Brazil, Argentina, Paraguay and Uruguay has already sent the European Union their position on an European addendum to their long-awaited trade agreement.

RBI) Governor Shaktikanta Das has been rated ‘A+’ in the Global Finance Central Banker Report Cards 2023, the central bank said on Friday. Taking to X (former Twitter), RBI said," We are happy to announce that Governor Shaktikanta Das has been rated “A " in the Global Finance Central Banker Report Cards 2023.

By Peter Frontini

Amidst the expected chill of winter, Brazil finds itself grappling with an unexpected challenge: scorching heatwaves that are defying seasonal norms. The National Institute of Meteorology has issued a concerning report, revealing that over 11.5 million residents of Sao Paulo are confronting the impact of soaring temperatures, which have surged nearly 10 degrees above the average of 24.5 degrees Celsius.

Ahead of the BRICS summit on August 22-24 in South Africa, Russia on Friday stated that BRICS is not aimed against anyone even in current circumstances and it even does not confront the current international economic and financial institutions, rather it is designed to supplement them. Echoing India’s thoughts Russia also stated the concept of single BRICS currency needs further study indicating that it is not in favour of rushing into single currency.

By Brendan O'Boyle

The crypto hardware wallet producer Ledger is looking to expand into the Latin America region, and is targeting growth in “Central and South America.”

New Development Bank (NDB) has started membership expansion to make the bank a global institution, said Leslie Maasdorp, the bank's vice president and chief financial officer, adding that the institution has been able to successfully navigate geopolitical issues. The New Development Bank is also exploring fundraising in the Indian rupee and is expected to hold discussions next month and is in touch with the regulators.

India for negotiating bilateral free trade agreements (FTAs) to boost economic ties, the commerce ministry is looking at ways to increase its bandwidth for undertaking these time and human resource consuming talks, a senior official said. The commerce ministry officials at present are negotiating several FTAs with countries including the UK, Canada and European Union. «Negotiations are really time consuming and energy consuming and human resource consuming.

By Lucy Craymer

By Horacio Soria and Lucinda Elliott

World Bank President Ajay Banga to increase investment in climate projects. "We are heartened to see that you recognise the urgency of this problem and hope that the bank will lead a coordinated and robust response to these challenges," the lawmakers said in a letter to Banga on Wednesday.

SAO PAULO (Reuters) — Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants the Mercosur bloc to advance in talks for trade deals with Canada, South Korea and Singapore, while also aiming to increase commerce with other countries in South America.

The Rugby World Cup 2023 will commence on September 8, with a match between France and New Zealand. The final is scheduled for October 28. Broadcast Information

Tether, the company renowned for powering the world's foremost stablecoin, announced today its ambitious venture into energy production and sustainable Bitcoin mining in Uruguay. The company is expanding its portfolio to include the energy sector, signaling its firm commitment towards energy innovation and the future of cryptocurrency.

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Stablecoin issuer Tether has announced it will be launching Bitcoin mining operations in Uruguay.

Cryptocurrency giant Tether is setting up a bitcoin mining operation in Uruguay using renewable energy, as the company looks to diversify the revenue mix to support its USDT stablecoin.