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Banco De La República Oriental Del Uruguay
Banco de la República Oriental del Uruguay (also known as Banco República or BROU) is a state-owned bank in Uruguay, founded in 1896 under the presidency of Juan Idiarte Borda. It is the most important Uruguayan bank with the largest number of customers. It plays a dominant role in lending and deposit in the Uruguayan market. It is also responsible for the collection of export tax A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and pol ...es. History On October 22, 1896, at 10:00 a.m. the bank opened its doors for the first time with 54 employees. The first deposit was made by the President of Uruguay, Juan Idiarte Borda. References External links Banco de la República Oriental del Uruguay Economy of Uruguay Government-owned companies of Uruguay Banks of Uruguay B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Corporation
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can dif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1896 Establishments In Uruguay
Events January–March * January 2 – The Jameson Raid comes to an end, as Jameson surrenders to the Boers. * January 4 – Utah is admitted as the 45th U.S. state. * January 5 – An Austrian newspaper reports that Wilhelm Röntgen has discovered a type of radiation (later known as X-rays). * January 6 – Cecil Rhodes is forced to resign as Prime Minister of the Cape of Good Hope, for his involvement in the Jameson Raid. * January 7 – American culinary expert Fannie Farmer publishes her first cookbook. * January 12 – H. L. Smith takes the first X-ray photograph. * January 17 – Fourth Anglo-Ashanti War: British redcoats enter the Ashanti capital, Kumasi, and Asantehene Agyeman Prempeh I is deposed. * January 18 – The X-ray machine is exhibited for the first time. * January 28 – Walter Arnold, of East Peckham, Kent, England, is fined 1 shilling for speeding at (exceeding the contemporary speed limit of , the fir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1896
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Uruguay
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Companies Of Uruguay
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Uruguay
The economy of Uruguay features an export-oriented agricultural sector and a well-educated workforce, along with high levels of social spending. Tourism and banking are also important sectors; Uruguay acts as a regional hub for international finance and tourism. The country also has a history and representation of advanced workers-rights protection, with unions and the eight-hour work-day protected at the beginning of the 20th century. Though 90% of the country's population is urbanized, most of the industry and over half of the population is concentrated in the capital Montevideo. After averaging growth of 5% annually during 1996–98, Uruguay's economy suffered a major downturn in 1999–2002, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. In 2001–02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of Uruguay
The president of Uruguay ( es, Presidente del Uruguay), officially known as the president of the Oriental Republic of Uruguay (), is the head of state and head of government of Uruguay. Their rights are determined in the Constitution of Uruguay. Along with the Secretariat of the Presidency, the Council of Ministers and the director of the Office of Planning and Budget, the President is part of the executive branch. In case of absence, their office is exercised by the vice president. In turn, the president of the republic is the commander in chief of the Armed Forces. Since 1990, the president's term has begun and ended on 1 March. This same date for ending the presidency also happened during the National Council of Government (1952–1967) and it has been not unusual since 1839. The current president since 1 March 2020 is Luis Lacalle Pou, who is the 42nd president of Uruguay—and also the child of the 36th president, Luis Alberto Lacalle. Features of the office Require ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Tax
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. ''Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Base
In economics, the monetary base (also base money, money base, high-powered money, reserve money, outside money, central bank money or, in the UK, narrow money) in a country is the total amount of money created by the central bank. This includes: * the total currency circulating in the public, * plus the currency that is physically held in the vaults of commercial banks, * plus the commercial banks' reserves held in the central bank. The monetary base should not be confused with the money supply, which consists of the total currency circulating in the public plus certain types of non-bank deposits with commercial banks. Management Open market operations are monetary policy tools which directly expand or contract the monetary base. The monetary base is manipulated during the conduct of monetary policy by a finance ministry or the central bank. These institutions change the monetary base through open market operations: the buying and selling of government bonds. For exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montevideo
Montevideo () is the Capital city, capital and List of cities in Uruguay, largest city of Uruguay. According to the 2011 census, the city proper has a population of 1,319,108 (about one-third of the country's total population) in an area of . Montevideo is situated on the southern coast of the country, on the northeastern bank of the Río de la Plata. The city was established in 1724 by a Spanish soldier, Bruno Mauricio de Zabala, as a strategic move amidst the Spanish people, Spanish-Portuguese people, Portuguese dispute over the La Plata Basin, platine region. It was also under brief British invasions of the Río de la Plata, British rule in 1807, but eventually the city was retaken by Spanish criollos who defeated the British invasions of the River Plate. Montevideo is the seat of the administrative headquarters of Mercosur and ALADI, Latin America's leading trade blocs, a position that entailed comparisons to the role of Brussels in Europe. The 2019 Mercer's report on qual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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