Since yesterday morning, the doors were closed Territorial Bank. According to the Superintendency of Banks and Insurance (SBS), the reasons were liquidity and solvency problems dragged since 2009.
Faces of concern and hastily changed the routine calls from customers of the financial institution, who learned of the cessation of operations of the entity in a document attached to a wall-attributed to SBS-, which meant “(…) to adequately protect public deposits Territorial Bank, pursuant to which such financial institution has been considered impractical for solvency and liquidity problems, has ordered the suspension of operations. ”
This action was confirmed by Peter Solines, Superintendent of Banks, who was in Guayaquil to address this issue. He said the bank has 79,000 customers, of which 78,500 have deposits of less than $ 31,000. This means that 99.3% of users could recover 100% of their savings, as the covers Deposit Insurance Corporation (COSEDE). Read Article
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The British banking giant HSBC has been accused of facilitating money laundering and tax evasion in Argentina. The South American country’s tax chief, Ricardo Echegaray, said HSBC’s Argentina subsidiary created an illegal scheme that helped its clients evade more than $100m (£66m) in taxes. Read Article
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The Bank Board issued a statement on March 18, which provides for the suspension of operations of the Land Bank, for “solvency and liquidity problems.” Then the statement posted on the website of the Superintendency of Banks: The Banking Board communicates to customers LAND BANK Banco Territorial SA: That in order to adequately protect public […]
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Food and personal care products and household cleaners are more expensive in neighborhoods and popular areas of Caracas. Small traders, mostly informal, which have shops in their homes or rooms under the stairs and up makeshift basement with just a window to dispatch, said they cost more to fill small cupboards and shelves that also […]
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The Central American countries must adapt and improve its ports and roads to new freight conditions that will allow the expansion of the Panama Canal, according to the Inter-American Development Bank (IDB). Ports and roads in Central America and the Dominican Republic “should be able to download and shipments much larger move, and do so […]
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lanacion.com.ar reported that it was published today in the Official Gazette the increase of 40%; Metrovías already been notified…e government of the City of Buenos Aires today officially raise the subway fare to $ 3.50. The increase of 40% was published in the Official Bulletin porteño. Starting next Wednesday hike will be effective. “The increase […]
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On March 13, 2013, Agência Brasil reported that micro-businesses in the state of São Paulo turned over some R$40.6 billion in the month of January, about 1% better than in January 2012. The increase is not radical, but it represents the highest monthly rate of growth that micro-businesses have sustained since 2001. An economist from […]
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Argentina is determined to continue the mining project extracting potassium Colorado River (west) “with or without (Brazilian mining company) Vale”, said today the governor of Mendoza, Francisco Perez Two days after the multinational announced the suspension of the works. “Come back for more. The project will carry out. Okay With or without” Perez said during […]
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On March 13, 2013, O Imparcial reported that in the state of Maranhão, Governor Roseana Sarney authorized a bill yesterday that liberated R$600 million to work on infrastructure projects throughout the interior of the state. The installation of these highways will benefit 17 municipalities and will pave approximately 554 kilometers’ worth of roads. Luis Fernando […]
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In Jalisco inhalant sale is available to anyone, including minors despite the risk of using them as a drug, so urgent that marketing be regulated in all municipalities in the state. The problem with municipalities is that, although health officials have insisted that they should limit this problem, “ignore”, Salvador Chavez said Joel Rivera, technical […]
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On March 7, 2013, O Imparcial reported that the northeastern Brazilian state of Maranhão will receive close to R$200 million in 2013 from oil royalties. This estimate comes after local authorities defeated a veto from President Dilma Rousseff, which would have distributed the royalties differently. The old estimate would have given municipalities in the state […]
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On March 7, 2013, Gazeta do Povo reported that nine managers from the Paraná Sanitation Company (Sanepar) were indicted yesterday and will be questioned for their role in recent pollution episodes in the Iguazu River, which runs through the state of Paraná. They will be questioned along with 30 other employees, previously indicted by Federal […]
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On March 1, 2013, G1 reported that two major Brazilian corporations, Vale and Petrobras, lost big in the Brazilian stock market (BM&FBOVESPA) in the first two months of 2013. Economic reports indicate that Petrobras, one of the largest corporations in the world, posted losses of nearly R$54 billion (R$200.9 billion), while Vale lost about R$22.75 […]
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Central Bank announced that as of May, Colombians traveling abroad may take up to $ 10,000 in cash, you only need to report for national taxes with the number leaving the city, so the Issuer will create a mandatory written statement. Read Article
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Controlling prices of staples and avoid speculation when you are looking to sell is the Government, through Decree 1438. This pricing applies nationally to 46 products, including: flower rice, oats, beef bone, boneless, ground, pork bone, pork chop, pork ribs, whole chicken into pieces, milk, chicken eggs, 17 fruits and a similar number of plants, […]
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On February 22, 2013, Conexão Tocantins reported that an investigation has been launched by the State Attorney General’s office in Tocantins regarding a series of bids granted to a construction company with connections to ex-mayor of Palmas Adjair da Lima. The company in question is CLS Engenharia Ltda., and authorities are looking into a diversion […]
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In 57% of companies there has been no salary increase, survey reveals Trabajando.com / Mexico City, 67% of Mexican firms has made staff cuts to reduce costs and 74% of Mexicans do not receive benefits “superior” to the law, according to a study trabajando.com, a consultancy specializing in the field. In the research consisted of […]
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On February 19, 2013, O Estado de São Paulo reported that federal prosecutors are investigating a case in São Paulo state involving accusations of slave labor. Police caught five Bolivian laborers that authorities say were subject to slave conditions working in a sewing factory in Americana. The women worked for a children’s clothing company, of […]
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The National Biosafety Technical Commission decided by a majority opinion granting positive Monsanto to plant one or two hectares of GM maize in Costa Rica. This information was confirmed by Alejandro Hernandez, a member of the Commission by the Ministry of Science and Technology, and by the NGO Coecoceiba. The request made by the company […]
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afp.com reported that Venezuelans swamped stores to snap up everything from washing machines to plane tickets in a last-minute wave of panic-buying ahead of a 32 percent currency devaluation. Venezuela will devalue its currency against the US dollar from Wednesday on the orders of President Hugo Chavez, who is convalescing in Cuba following cancer surgery […]
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Reporter.bz reported that Lebanese Belizean businessman, Majdi Agha, 50, was executed in front of his wife and young child, in front of their home in Buttonwood Bay around 8:50 a.m., on Tuesday. He and his family had just returned home, when a masked gunman ambushed him from inside his yard. Police found Agha’s lifeless body […]
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Reuters: The Venezuelan government announced a devaluation of almost 32% of its currency against the dollar to fight the “outbreak of inflation and speculative” in the country, which keeps track of change from ten years ago and did not adjust its currency since 2011. The devaluation of the bolivar, 31.7 percent, would ease the dollar […]
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On February 8, 2013, O Estado de São Paulo reported that a federal judge in Santo André, São Paulo state, sentenced former Federal Senator Luiz Estevão de Oliveira Neto and his wife, Cleicy, to four years, eight months in prison for tax evasion. The couple failed to pay taxes to the tune of R$57 million […]
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Uruguay faces its first hearings in the French capital this week in a lawsuit filed by U.S. tobacco giant Philip Morris International (IW 50/4) against its anti-smoking laws, an official said Monday. In early 2010, Philip Morris filed a complaint with the World Bank’s International Center for Settlement of Investment Disputes (ICSID), seeking damages allegedly […]
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According to the latest visual networking index made by the company Cisco, mobile data traffic will grow nine times in Chile by 2017, reaching 29 000 exabytes per month for that year. An increase that must in part to continued strong growth in the number of mobile internet connections is expected to exceed the number […]
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Ecuador in January closed with inflation at 0.50%, 0.57% lower than the same month last year, said yesterday the Institute of Statistics and Census (INEC). Family basket increased to 601,16 in January 2013 Inflation in January, said the Institute, responded primarily to the increase in prices of food and beverages, as well as restaurants and […]
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eluniversal.com reported that the president of the Airline Association of Venezuela (Alav), Humberto Figuera said the demand for tickets for the carnival season was down 15% from last year. “From the experience of previous times we know that when carnivals falls very close to the holidays of Christmas and New Year demand, while high, does […]
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In late 2011 HBO Latin America gave notice of its intention to launch its TV Everywhere service HBO Go throughout Latin America and 2012 was about delivering on that pledge. Emilio Rubio, president of HBO Latin America Group, says ownership of the digital space is a key strategic goal for the company. “It is pivotal […]
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According to a 2012 publication of the magazine Aboard, the most popular vehicle in the country last year was the Chevrolet Aveo Family, according to the dealership Mirasol in Cuenca, was the best-selling car in the city, with about 4,200 units. Pedro Torres, CEO of Mirasol said that models belonging to the family Aveo were […]
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Exports of Peru’s grape-based liquor pisco were valued at $4.5 billion between January and November 2012, an increase of 21.8 percent compared to the same period a year earlier, the Peruvian Exporters’ Association (Adex) said Saturday. Read Article
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santiagotimes.cl reported that MetLife announced its agreement Friday with Spanish bank BBVA after several weeks of negotiation to buy AFP Provida, Chile’s biggest private pension fund provider, for approximately US$2 billion in cash this Friday. BBVA will be transferring its 64.3 percent stake to MetLife, which hopes to expand its presence in fast-growing developing markets […]
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According to donga.com,Chris Anderson, former editor of the U.S. magazine Wired, founded 3D Robotics in San Diego three years ago to develop drones, or unmanned civilian reconnaissance planes. A drone is not a weapon, but a do-it-yourself product that looks more genuine than a toy. The problem was the competition from China that featured cheap […]
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Clarin.com reported that a private report, prices are higher than in other Latin American countries. The obstacles to imports more expensive equipment and limited their range. And they pay higher taxes. According to a private report, prices are higher than in other Latin American countries. The obstacles to imports more expensive equipment and limited their […]
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On January 31, 2013, Diário do Pará reported that federal prosecutors are asking federal courts to take legal action against a Brazilian company for a breach of contract with local indigenous leaders. The area in question is located in Belo Monte, about 850 kilometers from Belém, the capital of Pará. Norte Energia S.A. is accused […]
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The domestic auto industry closed 2012 with record numbers, to achieve a production of around 75,000 million, which places it in an enviable international sixth, up from Brazil, and on the heels of South Korea. Mexico remains the fifth largest exporter of auto parts worldwide, down from China, USA, Japan and the top of the […]
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Mexico City. Private banks operating in Mexico ended 2012 with a historic amount of profits. The whole system of institutions, mostly controlled by foreign firms, achieved net profits last year by 87 000 126.20 million pesos, 20.6 more than those in 2011 and a rate fivefold the expected growth of the economy in that period, […]
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Eurocopter and regional subsidiaries have set sights on major business expansion in South America where Brazilian planemaker Embraer is rapidly branching from executive jets and light attack fighters into other civilian and military aircraft. Read Article
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kpmg.com reported that (Ecuador) New measures published in the official gazette (on 24 January 2013) require taxpayers to comply with certain reporting requirements with respect to their related-party transactions. Taxpayers must now file with the tax authorities a schedule of related-party transactions when the aggregate total amount of transactions with the related party (whether domestic […]
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Ecuador tourism grew 12 percent in 2012 over the previous year, which is three times the rate of rise of this activity in the world that was 4.0 percent, according to prensa-latina.cu. Luis Falconi, Vice Minister of Tourism of Ecuador, noted that growth in this sector is related to government investment of $ 147 million […]
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According to a press release published by Amazon Defense Coalition – New evidence suggests that Chevron CEO John Watson has resorted to authorizing the offering of lucrative benefits packages to former Ecuadorian judges in return for false testimony designed to undermine the environmental trial that led to a $19 billion verdict against the company, according […]
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On January 18, 2013, O Estado de São Paulo reported that Paulo Maluf, businessman and political boss in the São Paulo area, will have to return roughly $28 million that he was keeping offshore in Jersey, one of the Channel Islands between Britain and France. Courts in Jersey announced the decision. He also will have […]
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Morningstar.com reported, Argentina’sTorcuato Di Tella University said Wednesday in a closely watched monthly survey that Argentines expect inflation of 30% in 2013. Most private-sector economists think that 12-month inflation in Argentina has been running at or above 20% for the last three years due to lax monetary and fiscal policy. Capital flight spurred by galloping […]
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A “modest acceleration of economic growth” is expected in the next two years in Latin America and the Caribbean with growth rates at 3.9% in 2013 and 4.4% in 2014, according to a United Nations report entitled, “World Economic Situation and Prospects 2013.” This means, however, an improvement considering the noticeable deceleration in the yearly […]
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A consortium of Canadian renewable energy developers has signed a 20-year concession agreement with Ecuador’s Consejo Nacional de Electricidad to buy electricity from the nation’s combined 62.5MW solar PV plants. In total, the plants are expected to bring more than $200m in investment to the local economy and create 400 construction jobs. They are being […]
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Twitter is opening up an office in the largest city in South America, Reuters reports. “We believe our new office in Brazil will allow us to get closer to the users and show the value of our platform,” the company’s new country manager for Brazil, Guilherme Ribenboim, told Reuters. Read Article
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Not long ago, quinoa was just an obscure Peruvian grain you could only buy in wholefood shops. We struggled to pronounce it (it’s keen-wa, not qui-no-a), yet it was feted by food lovers as a novel addition to the familiar ranks of couscous and rice. Dieticians clucked over quinoa approvingly because it ticked the low-fat […]
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Costa Rica is the best investment destination in Latin America for the thirteenth and services in the world, according to global consulting firm Tholons, according to Costa Rican officials said. Coalition for Development Initiatives (Cinde), responsible for attracting investment to Costa Rica, said in a statement that the Central American country stood out as the […]
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At least 2,900 bags of rice were seized Venalcasa brand / Norys Marquez, regional coordinator of the Institute for the Defense of People’s Access to Goods and Services (Indepabis) Zulia state clarified that the inspection was performed product of a complaint. Read Article
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On January 15, 2013, Folha Vitória reported that 24 people, including seven former mayors, were arrested and charged for their involvement in a massive corruption scheme across various towns in Espírito Santo, a state just to the northeast of Rio de Janeiro. They were taken to Vitória, the state’s capital, where they were asked to […]
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The recycling condition, set by the Foreign Trade Committee, stated that for companies to increase their cellular import quota, which was reduced last year to two million phones per year, must be recycled. Fabián Espinoza, manager of toxic waste program the Ministry of Environment, explains that companies will recycle 3% of what matters, about 60,000 […]
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On January 13, 2013, O Estado de São Paulo reported that Henrique Eduardo Alves (PMDB-RN), favored to be the next Speaker of the Brazilian Chamber of Deputies, has been accused of hiding money abroad by the Brazil’s Department of Justice (MPF). On November 19, the First District of the Federal Regional Tribunal (TRF) met with […]
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On January 10, 2013, A Tarde (Bahia) reported that Brazil’s Attorney General requested an investigation surrounding the leader of the Brazil Democratic Movement Party (PMDB) in the Federal Senate, Renan Calheiros, of Alagoas. Calheiros is a stockholder in Agropecuária Alagoas Ltda., responsible for constructing a 700-meter cobblestone path through a federally-protected natural reserve in the […]
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Thestarphoenix.com reported that Chilean truckers blocked the country’s main highway on Monday to protest a string of arson attacks, including one that killed an elderly couple in a southern region that Mapuche Indians call their usurped ancestral land. The couple’s death has triggered a national debate on the escalation of a conflict in Araucania, where […]
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The injection of public spending into scholarships and increases in wages and pensions boosts consumption at a time when production of state-run companies and staples such as milk and sugar falls. Therefore, there is no alternative but to resort to imports to prevent widespread shortages. In his year-end report, President of the Central Bank of […]
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The new federal administration will maintain the growth “gradual” in the price of gasoline to reduce the subsidy that is exerted on these fuels, said Undersecretary of Revenue, Ministry of Finance and Public Credit, Miguel Messmacher Linarta. “We are keeping this policy of gradual slippage at the moment,” the official said, but added that failure […]
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ABSTRACT This paper aims to evidence the cognitive structure of values of customers of regional brand from the South of Minas Gerais and Triângulo Mineiro regions. It aimed to identify perceptions about attributes, consequences, values and connections among these elements through a hierarchical map of values (HVM). The laddering technique helped in the collection, analysis […]
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According to the New York Times, Wal-Mart de Mexico was an aggressive and creative corrupter, offering large payoffs to get what the law otherwise prohibited, an examination by The New York Times found. Wal-Mart longed to build in Elda Pineda’s alfalfa field. It was an ideal location, just off this town’s bustling main entrance and […]
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Brazil recognized the “champagne” as a designation of origin, which will limit the use of the term ‘champagne’ for sparkling wines produced in the South American giant. France had formally applied in 2007 to register the champagne at the National Institute of Brazilian Intellectual Property (INPI). The resolution has been produced on the occasion of […]
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Eluniverso.com reported in an area of 43,000 square meters that will work in 170 venues, opened yesterday Scala Shopping Mall in Cumbayá (northeast of Quito), with an investment of $ 30 million. The group was the builder and Inmodiamante Is Scala Shopping, where they have installed 50 international franchises like Carolina Herrera, Hugo Boss, Swarovski, […]
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With the goal of improving the exchange mechanisms in the country, Venezuelan authorities are focusing on frauds and irregularities in hard-currency transactions according to Prensa Latina. The Commission for Hard-Currency Administration (CADIVI), which is in charge of implementing the national policy on that field, has suspended 800 companies from that scheme after detecting violations of […]
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Ecuador has performed more than one billion dollars in transactions, using the Unified System for Regional Compensation (Sucre), which came into existence in 2010, official sources reported according to Prensa Latina. Sucre is a compensation system that is valid for trade among the eight members of the Bolivarian Alliance for the Peoples of Our America […]
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Industrialists warned that the recovery in 2013 will depend on the stimulus to the economy launched by the government to take effect, and that the government is endeavoring to take steps to help reduce production costs and increase productivity. Set for a recovery next year and expects growth of 4.1%, after the “lost year” of […]
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Between January and October 2012, as airlines l attached to AviancaTaca Holding mobilized travelers 19’053 076, equivalent to a 13.6% increase in passenger numbers over the same period of 2011, when 751 were mobilized 16’775 travelers. Only in October, Avianca, TACA and its subsidiaries mobilized 1’982 818 passengers, representing an increase of 12.2% in passenger […]
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According to the document, the nation’s capital has a strong budgetary performance, moderate debt levels and adequate liquidity position. Financial management is predictable and has shown stability even with changes in government. Thus, the rating agency affirmed its ratings of Bogotá, including the corporate credit rating of ‘BBB-‘. “We expect the budgetary performance of Bogota […]
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A second international mining company is pulling out of Ecuador this year, saying the country is not friendly to mining concerns. International Minerals Corp. of the United States is in the process of selling concessions in Azuay Province. The company says those concessions have reserves totaling 991,000 ounces of gold and 4.7 million ounces of […]
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Prices for farmland in Brazil surged by an average 14% a year to nearly quadruple over the past decade, well outpacing inflation and nearly matching gains made by São Paulo’s blue-chip Ibovespa stock index, a new study shows. Improving diets in economies such as China have driven up prices of commodities like soybeans, corn and […]
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Standard & Poor’s said yesterday that unless Argentina and holdout bond investors reach a payment agreement on defaulted debt from 2002 its B-minus credit rating on the South American nation is at risk of a downgrade. On Nov. 29 the US 2nd Circuit Court of Appeals granted an emergency stay on a lower court’s order […]
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–Yahoo! Inc. (NASDAQ: YHOO) today reported that the 49th Civil Court of the Federal District of Mexico City has entered a non-final judgment of U.S. $2.7 billion against Yahoo! Inc. and Yahoo de Mexico, S.A. de C.V. in a lawsuit brought by plaintiffs Worldwide Directories S.A. de C.V. and Ideas Interactivas, S.A. de C.V. Yahoo! […]
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A group of telecommunications operators consisting of Cable & Wireless Communications, Setar, Telconet, Telefónica a Global Solutions and United Telecommunication Services (UTS) has signed a turnkey contract with Alcatel-Lucent (Euronext Paris and NYSE: ALU) to deploy the Pacific Caribbean Cable System (PCCS), a 100G submarine cable system linking Jacksonville, Florida to Manta, Ecuador. Read Article
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The Costa Rica real estate market was booming for years prior to the global financial crises and took a major hit as did the rest of the world. Currently the market is recovering, prices have stabilized, and future outlook is extremely positive. Joshua Kanter of Dominical Property, S.R.L. discusses the current Costa Rica real estate […]
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Bolivia’s La Paz state government Tuesday presented China’s ambassador to Bolivia Li Dong with 10 projects, hoping to secure investment and cooperation from China for industrial, production and food development. “The meeting with China’s ambassador is positive and we are certain these projects are going to be undertaken in the short- and medium-term,” La Paz […]
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Brazil’s gross domestic product increased by just 0.6% in the third quarter from the second, despite the stimulus and sharp interest rate cuts. Economists in a Reuters poll had expected Brazil’s GDP to increase by 1.5% while a Bloomberg survey put the rise at 1.2%. Agriculture and livestock farming grew the most, at 2.5%, while […]
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Financialpost.com reported “You should all be in New York,” Ontario Superior Court Justice David Brown said several times during the first day of hearings today in Toronto. “On the issue of jurisdiction, the law is not clear on this at all. Why should the Ontario court stick their nose” into the matter. A group of […]
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Brazil and Peru are attempting to block online retailer Amazon.com Inc. from acquiring new internet domains using the name of the world’s greatest tropical rain forest. The two South American countries have lodged a formal complaint with the Internet Corporation for Assigned Names and Numbers (ICANN), the Los Angeles-based nonprofit private organization that oversees the […]
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Deriving the Customs Modernization Plan 2007-2012, announced the construction of new facilities at the border crossing Lieutenant Lopez II “Chactemal”., In order to have more space for development and facilitation of foreign trade operations with Belize. According to Customs of Mexico, crossing now has two import modules, two more for export, three positions to review […]
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Coffee and cocoa represent the main sources of income for small farmers in the Northern Amazon Region of Ecuador. The provinces of Orellana and Sucumbios, as border areas, have benefited from investments made by many public and private institutions. Many of the projects carried out in the area have been aimed at energising the production […]
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New type of fraud reported in Interbolsa / Curacao major destination for evading taxes According to FM is crossed emails and letters in recent days called ‘Premium Fund affected investors’. The FM said he is holding the first names of the investors of the controversial ‘Premium Fund’ running through Interbolsa and moved millions of money. […]
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Source Spanish: Clarin According to a study by the Brazil-China Business Council, 44 Chinese companies, both public and private, have invested USD 68.4 billion in Brazil between 2007 and 2012. USD 24.4 billion of the investments are for projects that are still under development. The investments include 60 projects related to natural resources, raw materials, […]
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Eltiempo.com.ec reported that a total of 55 financial institutions in the country have complied with the provision of the National Telecommunications Council to install antennas inhibiting cell phone signal in all entities of the National Financial System. According to information from the National Telecommunications Secretariat, Senatel, 737 computers were installed inhibitors are 22 banks, 26 […]
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Retailers are to issue a letter of clearance to purchase goods when purchasing a used furniture article of this nature to a person who maintains that activity occasionally, in order to legalize the acquisition. The second rule setting SRI must be met when a person delivers a well as payment or part exchange for another. […]
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The government is promoting the installation of a mega port to triple the capacity of freight movement that is already installed in the central region. The Ministry of Transport has already initiated studies to define the investment that is required and if the port (FSPs) will be built in Valparaiso or San Antonio. Read Article
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The unemployment rate in Brazil in October was 5.3 percent of the economically active population, down slightly from 5.4 percent in September, the government reported today. Compared with October 2011, when unemployment was 5.8 percent, the reduction was half a percentage point, according to the Brazilian Institute of Geography and Statistics (IBGE). The agency added […]
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The Colombian coffee growers close the year 2012 with a production in the range of 8.5 million sacks sack and nine million, according to estimates by the National Federation of Coffee. For the National Association of Financial Institutions sector problems in Colombia beyond the excessive rains in the coffee regions, rust attacks by high humidity […]
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Ports throughout the Americas and the Caribbean are rushing to be ready for the post-Panamax future. Currently, the Panama Canal can handle ships 965 feet long that need a depth of 39.5, a size known as Panamax. Once the expansion is complete in 2015, the canal will be able to accommodate ships 1,200 feet long […]
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The U.S.-Colombia Trade Promotion Agreement entered into force on May 15, 2012. It is a comprehensive free trade agreement (FTA) between the United States and Colombia, which will eventually eliminate tariffs and other barriers in bilateral trade in goods and services. On October 3, 2011, President Barack Obama submitted draft legislation (H.R. 3078/S. 1641) to […]
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The Honduran National Congress is currently reviewing the law to geographically define the first four “Charter Cities” in the world, three sites along the Caribbean coast in Garifuna afro-indigenous territory, Trujillo, the Valle de Cuyamel and the Sico-Paulaya Valley, which includes Miskitu indigenous territory. One is proposed in the Gulf of Fonseca which would include […]
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Wall Street-owned media group “Clarín” spearheading anti-government drive in South America’s Argentina. Wall Street-owned media group “Clarín” spearheading anti-government drive in South America’s Argentina. The US-engineered “Arab Spring” brought us the “April 6 Youth Movement” in Egypt, run by Wall Street-backed Mohammed ElBaradei in coordination with the Muslim Brotherhood, the “February 17 Revolution,” consisting of […]
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Mr Blair’s consultancy — the Government Advisory Practice — landed a contract worth almost £4million a year to advise the state government of São Paulo, the economic powerhouse behind Brazil’s rapidly growing economy. About £2 million has been earmarked for the travel and accommodation costs and Mr Blair’s fees, according to the Brazilian company that signed […]
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With his trimmed white beard and rounded metal spectacles, Paul Singer might come across as a slightly miffed professor, his lips pursed and one eyebrow arched a touch higher than the other reported Independent.co.uk. But the balding billionaire behind the New York hedge fund group Elliott Management is in fact one of Wall Street’s reigning […]
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The Chilean economy continues to surprise and exceed expectations. The Central Bank reported a gross domestic product growth in the third quarter, mainly due to consumption and investment. It is a figure of 5.7% between July and September, which rose to 5.6 cumulative GDP progress so far this year. A result that is supported by […]
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Given the diversification of export markets of Mexico in recent years, foreign trade will continue to represent an important part of the economy, where not only the United States will be one of our major partners. The Head of the International Trade and Supply Chain HSBC, Mauricio Muñoz stressed that Asia tends to become a […]
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Bank of America said today that the sale of its stake in Banco Santander Mexico is not a change of strategy towards Latin America and only in the interest of focusing on its core businesses. “The decision to sell the stake in Grupo Santander was taken primarily by our intention to focus on our business […]
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The manufacturer of solar Isofoton invest 100 million euros to build a photovoltaic plant of 50 megawatts (MW) in Ecuador, the country’s first fully permitted to charge a regulated rate. In a statement, Isofoton explained that the plant, located 10 kilometers from Quito, employ 500 people during construction and, once in operation, will generate clean […]
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The Chilean retailer Falabella, with operations in Argentina, Colombia and Peru, reported earnings of 224.806 million pesos (470.30 million U.S. dollars) to September of this year, 19.9% less than the same period of 2011. According to an assessment submitted to the Superintendency of Securities and Insurance (SVS), the largest firm traded Chilean recorded in the […]
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The Brazilian economy suffered a contraction in September from 0.52 percent from August, its biggest drop in eleven months compared with the previous month, as an indicator of economic activity released by the Central Bank. The so-called Economic Activity Index Central Bank (IBC-Br), considered a behavior after gross domestic product (GDP) stood at 142.59 points […]
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A special group of CTI Interbolsa commission will investigate whether the conflict of interest incurred, price manipulation in shares and in an attempt to purchase a company (Fabricato SA) without making a public offer (IPO). Also seek to establish whether the firm violated regulatory standards, plus they did not report their movements to the authorities […]
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In the last five years (specifically from 2006 to 2011), the telecommunications companies , Internet telephony and fixed-power distribution and have suffered economic losses estimated at S/.200 million due to the continued theft of cables and equipment, and the high replacement costs they face. The main losers are consumers, because they are hurt by cable […]
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The Mexican city of Acapulco tourist is in bankruptcy, with a debt at the end of this year will amount to $ 162.1 million, exceeding its annual budget. “We need to invest in Acapulco federation to succeed, otherwise we will not get out,” told a news conference the mayor of the municipality, Luis Walton, adding […]
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That country is the leader among 18 countries according to the Institute for Competitiveness ADEN, institution of higher learning founded in Argentina. Colombia is ranked seven. DEN evaluates ten aspects to determine the index: meeting basic needs, institutional, infrastructure, macroeconomic stability, health, education, population expectations, market competition, efficiency in labor relations and access to technology, […]
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Dinero.com reported that Brazil’s economy accelerated in the third quarter compared with the previous one, according to central bank figures, but a weaker activity in September suggests that the road to a solid recovery is rocky. The economic activity rate of the central bank IBC-Br fell 0.52 percent in September from August, seasonally adjusted, in […]
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