AGP Executive Report

Offshore Energy: Eni has officially entered Uruguay’s OFF-5 offshore exploration block, taking 50% operatorship with MIWEN (50%) after Uruguayan approval, and says it will use proprietary tech to speed up hydrocarbon appraisal; it also agreed to buy a 40% stake in adjacent OFF-6. De-dollarisation Finance: Uruguay’s push to reduce dollar dependence is gaining traction as investors shift into peso money market funds and government bonds, with peso fixed-rate funds roughly doubling year-on-year and domestic peso securities rising sharply. Logistics & Trade: DHL Global Forwarding is acquiring Uruguay-based Aero Cargas, turning a long-time partner into its first direct Uruguay operation, aiming to better serve Atlantic gateway trade flows and regional logistics demand. Cross-border Payments Governance: dLocal’s APAC lead flags growing political pressure over foreign influence in local payment systems, even as cross-border payments expansion accelerates. Public Health Policy: A McGill-led review finds cannabis legalization can increase adult use and shift patterns in other substances, with emergency visits rising in some settings, including Uruguay. Science in the Region: Satellite-tagging and drone work is underway in Patagonia to study South American fur seals, including deployments on Isla Rasa and Isla Arce.

De-dollarisation in Uruguay: Investors are shifting more savings into peso-denominated money market funds and government bonds, with peso fund launches roughly doubling year-on-year as inflation stays tame and the Central Bank pushes to reduce dollar dependence. Logistics expansion: DHL Global Forwarding is buying Uruguay-based Aero Cargas, turning a long-time agent into a direct operation to better route freight through Montevideo and strengthen services in areas like pharma logistics. Offshore energy: Eni has secured operatorship of Uruguay’s OFF-5 block (50%) with MIWEN/ANCAP, and also agreed to buy 40% in adjacent OFF-6, aiming to accelerate exploration using proprietary tech. AI funding (Uruguay-linked): Roma AI, a Uruguay-Chile startup building AI agents that run inside client systems, closed a $1.2M seed round to scale governance-focused automation for regulated companies. Public health research: A McGill-led review finds cannabis legalization can increase adult use and raise some emergency visits, with mixed effects on alcohol depending on policy type. Tech reliability: Reports point to a multi-hour Microsoft Outlook/Exchange Online outage, with Microsoft later saying systems were operational.

Offshore Energy in Uruguay: Eni has entered Uruguay’s OFF-5 offshore exploration block as operator with a 50% stake (with MIWEN holding the other 50%), after Uruguayan approval, and says it will use proprietary tech to speed up assessment work; it also agreed to buy a 40% interest in the adjacent OFF-6 block, operated by APA. AI for Business in Uruguay: Roma AI, the Uruguay-Chile startup building AI agents that run inside client systems without sensitive data leaving their infrastructure, closed a US$1.2M seed round to scale its governed agent platform across regulated companies in the region. Public Health & Cannabis Policy: A McGill-led review of 176 studies across decades and multiple countries (including Uruguay) finds cannabis legalization can increase adult use and raise some emergency and poison reports, with mixed effects on alcohol depending on policy type and age group. Climate & Science Tools: Researchers used drones and satellite transmitters to study South American fur seals in Patagonia Azul, including deploying tags on adult females to map winter movement and grouping. Cybersecurity Watch: Dark Caracal’s updated malware toolkit (GoCaracal plus its Bandook backdoor and Ethereum-based fallback for control) targets organizations via phishing and malicious SVG delivery, with activity linked to a June 2026 intrusion in Venezuela.

Offshore Energy in Uruguay: Eni is expanding its Uruguay offshore footprint by entering the OFF-5 exploration block as operator with a 50% stake alongside MIWEN (50%), under an agreement approved by Uruguayan authorities; studies are underway to mature hydrocarbon potential, and Eni says it will use proprietary technologies to accelerate assessment. AI for Business in Uruguay: Roma AI, a Uruguay-Chile startup, raised US$1.2M to scale AI agents for regulated companies across Latin America, emphasizing governance and security so sensitive data stays inside client infrastructure. Public Health & Cannabis Policy: A McGill-led review covering 176 studies across Canada, the US, Europe, Uruguay and Australia finds cannabis legalization can increase adult use and raise cannabis-related emergency visits, with mixed effects on alcohol depending on policy type. Wildlife Tech in the South Atlantic: Scientists working in Uruguay’s region deployed satellite transmitters on South American fur seals to map winter movements, combining drone flights with animal tagging to study grouping outside breeding season. Cybersecurity Watch: Dark Caracal is back with updated Go-based malware (GoCaracal) and Ethereum-based fallback communications, using phishing and SVG-based delivery tactics seen in Latin America.

Offshore Energy Deal: Eni will enter Uruguay’s OFF-5 offshore exploration block with a 50% stake, partnering with MIWEN (YPF subsidiary) and ANCAP; studies are underway in the first exploration period, and Eni also agreed to buy 40% of adjacent OFF-6. AI for Enterprise: Uruguay-Chile startup Roma AI raised US$1.2M to scale AI agents that run inside client systems, emphasizing governance, traceability, auditing, and monitoring without sensitive data leaving infrastructure. Health Research (Uruguay-linked): A new study tested cannabigerol (CBG) from Uruguay and Spain-based research on reducing schizophrenia-like memory deficits, pointing to early promise for cognitive symptoms. Cybersecurity: Dark Caracal upgraded its toolkit with GoCaracal and an Ethereum-based fallback for command-and-control resilience, following phishing and SVG-based delivery tactics tied to a Venezuela intrusion. Regional Tech & Trade: Japan is pushing trade liberalization talks with Mercosur, explicitly including Uruguay in the bloc’s wider agenda. Uruguay in Global Context: Pew Research maps show Uruguay shifted its largest religious group from Christianity to the unaffiliated between 2010 and 2020.

Offshore Energy Deal: Eni will enter Uruguay’s OFF-5 offshore exploration block with a 50% operating stake alongside MIWEN (50%), after regulatory approval, with studies underway to assess hydrocarbon potential and Eni also agreeing to buy 40% of adjacent OFF-6. AI Startup Funding: Roma AI, a Uruguay-Chile company building governed AI agents that run inside client systems, raised US$1.2M seed to scale across regulated Latin American companies. Health Research (Uruguay-linked): A new study involving researchers from Uruguay and Spain reports cannabigerol (CBG) shows early promise for reducing schizophrenia-like memory deficits. Cybersecurity Watch: Dark Caracal upgraded its toolkit with GoCaracal and Ethereum-based fallback communications, targeting organizations via phishing and malicious SVG delivery. Climate/Energy Policy Angle: Experts point to Uruguay’s renewable-energy transition as a model that could be tailored elsewhere, stressing the need for enabling policy and governance structures. Science in the Field: Patagonia Azul researchers used drones and satellite transmitters to study South American fur seals’ winter movements, including deployments on Isla Rasa and Isla Arce. Local Tech Leadership: Capital Group appointed Uruguay-born Guillermo Veiga as Chief Information Officer, bringing tech and AI transformation experience from major global firms.

Pharma Trade & Regulation: Argentina says it will cut barriers to help Indian pharmaceutical firms enter its market, including moving India from Annex II to Annex I under its regulatory framework—part of a broader push as bilateral trade topped $6.5B in 2025. AI Startups in Uruguay: Roma AI, a Uruguay-Chile company building AI agents that run inside client systems without sensitive data leaving infrastructure, raised a $1.2M seed round to scale governance-focused automation across regulated companies. Space & Marine Tech: Patagonia Azul researchers deployed satellite transmitters (with drone support) on South American fur seals to map winter movement and social grouping across key Uruguayan-linked habitats. Cybersecurity: Dark Caracal upgraded its cyberespionage toolkit with GoCaracal and an Ethereum-based fallback for command-and-control resilience, following a June 2026 intrusion tied to Venezuela. Renewables Policy Lessons: Climate experts point to Uruguay’s renewable transition as a model, arguing other countries need stronger policy and governance “enabling environments” to unlock solar investment. Carbon Markets Tech: A push for tokenised, digitally traceable carbon credits highlights growing interest in real-time, auditable mitigation methods beyond traditional forestation offsets.

AI Startup Funding (Uruguay): Roma AI, a Uruguay-Chile startup building enterprise AI agents that run inside client systems, raised a US$1.2M seed round to scale governance and security features like traceability, auditing, and monitoring. Wildlife Research (Patagonia/Uruguay link): Scientists used drones and satellite transmitters to track South American fur seals across Isla Rasa and Isla Arce, aiming to map winter movement and non-breeding group behavior, with Uruguay highlighted as a major reproductive stronghold. Cybersecurity (Latin America): Dark Caracal upgraded its cyberespionage toolkit with GoCaracal malware and an Ethereum-based fallback for command-and-control resilience, following a Venezuela intrusion. Health & Science (Uruguay researchers): A new study tested cannabigerol (CBG) from cannabis for potential effects on schizophrenia-like memory deficits, involving researchers from Uruguay and Spain. Energy Policy (Uruguay as model): Climate and renewables experts pointed to Uruguay’s renewable transition as a template, stressing that policy and governance conditions are key for scaling solar and other clean power. Tech & Diplomacy (Uruguay-India): India’s foreign minister sent National Day greetings to Uruguay, underscoring plans to deepen bilateral ties.

AI & Startups: Uruguay-Chilean Roma AI raised US$1.2M to scale regulated AI agents that run inside client infrastructure, adding governance features like traceability, auditing, and monitoring. Renewables Policy: Caribbean energy experts backed calls to adjust renewable energy policies, pointing to Uruguay’s transition as a model—if countries build the right legal, institutional, and governance “enabling environment.” Space/Marine Tech: Patagonia Azul researchers used drones and satellite transmitters to track South American fur seals around Isla Rasa and Isla Arce, aiming to map winter movement and grouping behavior. Health Research (Uruguay-linked): A new study involving Uruguay and Spain tested cannabigerol (CBG) for schizophrenia-like memory deficits, exploring a potential non-intoxicating cannabinoid route to cognitive support. Cybersecurity: Dark Caracal upgraded its espionage toolkit with GoCaracal and Ethereum-based fallback communications, keeping operations resilient after disruptions. Climate Finance Tech: Tokenised carbon credits are gaining traction as a more auditable alternative to slow, hard-to-verify forestation offsets, with activity noted in Uruguay and the region.

Cannabinoid Research in Uruguay: A new study involving researchers from Uruguay and Spain reports early promise for cannabigerol (CBG) to reduce schizophrenia-like memory deficits, after tests targeting cognitive impairment linked to schizophrenia medications. Cybersecurity Watch: Dark Caracal, a Lebanon-linked cyberespionage group, has returned with GoCaracal malware and an Ethereum-based fallback for command-and-control, keeping attackers connected even after server disruption; the campaign uses phishing and weaponized SVG delivery. Regional Tech & Policy: Mercosur’s Electronic Commerce Agreement is now in effect, banning customs duties on e-commerce transactions between Brazil, Argentina, Paraguay, and Uruguay, while adding rules on electronic signatures and personal data protection. Health & Adherence: A COPD review highlights low real-world adherence to inhaled therapy and discusses intervention strategies to improve technique and long-term use. Local Tech Leadership: Capital Group appoints Uruguay-born Guillermo Veiga as Chief Information Officer, bringing technology, data, and AI leadership from Standard Chartered in Singapore. Science Diplomacy: India’s External Affairs Minister S. Jaishankar sends National Day greetings to Uruguay, reaffirming plans to deepen bilateral ties.

Cybersecurity: Dark Caracal, a Lebanon-linked cyberespionage group, has upgraded its toolkit with a new Go-based malware framework (“GoCaracal”) and uses an Ethereum-based fallback for command-and-control resilience, after a June 2026 intrusion tied to Venezuela. Digital Trade & Data: Mercosur’s Electronic Commerce Agreement is now taking effect, including a ban on customs duties for e-transactions between Brazil, Argentina, Paraguay and Uruguay, plus rules on personal data protection and cross-border data flows. AI Policy in the Region: A legal roundup highlights how Mexico is drafting AI-related changes across copyright, labor and deepfake criminal rules, while Argentina, Brazil, Chile, Colombia and Uruguay are also moving on AI regulation. Uruguay-India Links: India’s foreign minister sent National Day greetings to Uruguay, and Uruguay’s embassy marked 201st independence with renewed focus on deepening ties. Tech Leadership (Uruguay connection): Capital Group named Guillermo Veiga—born in Uruguay—as its new Chief Information Officer, bringing AI/data transformation experience from Standard Chartered and major tech firms.

AI Regulation Watch: A new legal push in Mexico is shaping AI rules on copyright, labor, and deepfakes, while Uruguay and other Latin American countries are drafting their own frameworks—showing the region is converging on how to govern AI outputs, data use, and accountability. Cybersecurity: Venezuela-linked intrusions are tied to Dark Caracal’s upgraded GoCaracal malware framework, using blockchain-based fallback infrastructure to keep attackers in control. Digital Trade for Uruguay: Mercosur’s electronic commerce agreement takes effect, including a ban on customs duties for cross-border e-transactions among Brazil, Argentina, Paraguay, and Uruguay, plus data protection and e-signature recognition. Local Tech Leadership: Capital Group appoints a new Chief Information Officer, Guillermo Veiga, bringing Uruguay roots and a deep tech background from major global firms. Health & Tech Research: A review highlights why COPD inhaler adherence stays low and argues for better, integrated approaches to patient behavior and intervention design. Science & Diplomacy: India’s foreign minister sends National Day greetings to Uruguay, underscoring renewed bilateral ties that could support future cooperation.

Uruguay–India Diplomacy: Uruguay’s ambassador in New Delhi marked the country’s 201st Independence anniversary, highlighting momentum in India–Uruguay ties and the push for deeper engagement, including India’s resident mission in Montevideo. Cybersecurity: Venezuela-linked intrusions tied to Lebanon-linked Dark Caracal added a new malware framework (“GoCaracal”), using blockchain-based backup for command-and-control resilience. Digital Trade in Mercosur: Brazil’s Mercosur e-commerce deal takes effect, cutting customs duties on cross-border electronic transactions among Brazil, Argentina, Paraguay and Uruguay, and adding rules on data protection and electronic signatures. Research & Science Cooperation: Argentina’s Buenos Aires province and Uruguay signed agreements covering agrifood exchanges and scientific research links between Buenos Aires’ research commission and Uruguay’s University of the Republic. Bitcoin Mining Setback: Tether abandoned its ~$120M Uruguay Bitcoin mining effort after an electricity allocation dispute with state utility UTE left sites without enough power. Enterprise Tech Leadership: Capital Group appointed a new Chief Information Officer, underscoring the growing role of technology, data and AI in scaling global investment operations. Regional Air Security: South American air chiefs met in Tucson for SOUTHAM 2026 to coordinate responses to shared threats, including cyber risks and transnational crime.

AI & Climate Finance: A new push for digitally traceable, tokenised carbon credits is moving beyond slow, hard-to-audit tree-planting offsets, with Uruguay flagged as an early market for real-time, API- and ledger-based carbon avoidance. Regional Security Cooperation: SOUTHAM 2026 in Tucson brought South American air chiefs together to coordinate responses to cyber threats, illicit air corridors, and transnational criminal activity—plus a focus on secure communications and early warning. Uruguay-Linked Research & Education: UTEC and UNESCO IESALC closed a 10-week program to co-design and implement a microcredential model, building institutional capacity and producing prototype microcredential designs spanning AI, sustainability, and entrepreneurship. Energy & Crypto in Uruguay: Reuters reports Tether abandoned its $120M Uruguay Bitcoin mining plan after a power allocation dispute with state utility UTE left sites unable to operate, ending the project’s “testing ground” role. Digital Trade Rules (Mercosur): Brazil’s Mercosur e-commerce agreement takes effect, including no customs duties on cross-border electronic transactions among Brazil, Argentina, Paraguay, and Uruguay, alongside data protection and e-signature recognition. Science Diplomacy: Argentina’s Buenos Aires province and Uruguay signed cooperation deals on agrifood exchanges and scientific research with the University of the Republic.

Regional Security Cooperation: South American air chiefs met in Tucson for SOUTHAM 2026 to coordinate responses to cross-border crime, cyber threats, and secure communications. Uruguay-Argentina Science & Food Links: Uruguay’s President Orsi and Buenos Aires province governor Axel Kicillof signed agreements on agrifood cooperation (including training and reducing food loss) and on strengthening scientific research ties between Buenos Aires’ research commission and the University of the Republic. Digital Trade Rules for Mercosur: Brazil’s Mercosur Electronic Commerce Agreement enters into force, including a ban on customs duties for e-commerce between individuals across Brazil, Argentina, Paraguay, and Uruguay, plus data protection and e-signature recognition. Bitcoin Mining Setback in Uruguay: Tether abandoned a planned $120M Uruguay bitcoin mining expansion after an electricity allocation dispute with state utility UTE left sites unable to operate. Microcredentials Push at UTEC: UTEC and UNESCO IESALC closed a 10-week program to co-design an institutional microcredential model, with prototypes spanning AI, sustainability, and entrepreneurship. AI Infrastructure Debate: U.S. lawmaker Rashida Tlaib urged action on environmental risks from AI data centers, including a call to restrict such facilities on federal lands.

UTEC & UNESCO Microcredentials: UTEC and UNESCO IESALC wrapped a 10-week program to co-design an institutional microcredential model, with teams building prototypes spanning sustainability, AI, entrepreneurship, and industrial process management. Mercosur E-commerce Rules: Brazil’s Mercosur Electronic Commerce Agreement now takes effect, banning customs duties on cross-border electronic transactions between Brazil, Argentina, Paraguay, and Uruguay and recognizing electronic signatures, alongside data protection and cybersecurity cooperation. Uruguay-Argentina Science & Food Links: Uruguay’s President Orsi met Buenos Aires Gov. Kicillof, signing agrifood cooperation (including wholesale market exchanges) and a science/innovation pact between Buenos Aires’ research commission and the University of the Republic. Bitcoin Mining Setback in Uruguay: Tether abandoned a planned $120M Uruguay Bitcoin mining expansion after an electricity allocation dispute with state utility UTE left sites unable to operate reliably. Diplomacy: India’s Jaishankar greeted Uruguay on National Day, pledging to deepen bilateral ties. Public Safety Procurement: Lakeland Fire + Safety secured new Latin America contracts, including firefighter protective gear for Peru’s Callao Fire Department.