The daily Argentines, Chileans and Spanish, who are obedient to corporations, celebrate the approval by the Chilean Government HidroAysen project, a new disaster led by Endesa Spain, a company controlled by ENEL Italy and its Chilean branch, and the corporation trasandina Colbún. The initial investment, not counting bribes to public officials and the press is 3,200 million. The five dams on the Pascua and Baker rivers generate 2,750 megawatts (MW) for supplying power to the mining pollution in northern Chile, and mining corporations bought also the owners. Plan to build five dams in seismic and volcanic area where effects of the phenomenon of induced seismicity artificial lakes reservoirs will cause large earthquakes. Given that the last two major earthquakes occurred in the Pacific Chilean and half shook Argentina celebrate we ask what the financial journals? Read Article
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The exports of gold from Cajamarca represented 71.9% of its total sales abroad, while in La Libertad the figure is 75.6%, and had to Switzerland as their main destination for 58.3% acquired the mineral in that region. Between January and September the traditional exports of these eight regions amounted to U.S. $ 8233.14 million, an […]
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The Ecuadorian government and the airlines will agree that a rise in rates, after President Rafael Correa confirmed the removal of fuel subsidies to aircraft at airports under concession from the first of January 2012. This decision will mean savings for the State of about $ 90 million and would be detrimental to the airports […]
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A 140 000 686 Costa Rican youth aged 12 to 24 years, representing 12.3 percent of the total population this age, neither work nor study revealed the seventeenth State of the Nation. The study, released Sunday in the local press, warns that these young people “are doubly excluded, because they lack access to knowledge and […]
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Under Chavez sponsorship Latam nomenclature adds a new regional grouping. The inauguration of the 33-member Community of Latin American and Caribbean States (CELAC) is the populist leader biggest moment on the world stage since his surgery in June. The 57-year-old former coup leader, who wants to win re-election next October warmly greeted fellow leaders including […]
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The FTA establishes who will enter our market by 81.4% of all Guatemalan products duty-free within a maximum period of five years. Meanwhile, Guatemala will receive 94.7% of Peruvian products. The balance of trade between Peru and Guatemala’s partner. In 2010 our country exported to Guatemala about U.S. $ 51 million, while Guatemala imported Peruvian […]
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The number of poor people in Latin America will increase from 177 million in 2010 to 174mn end of this year, the lowest in the last twenty years, reported the Economic Commission for Latin America and the Caribbean (ECLAC). According to the Social Panorama presented in Santiago by the regional organization of United Nations , […]
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THIS IS AN OPINION PIECE SUBMITTED BY AN ANONYMOUS READER OF LATINAMERICACURRENTEVENTS.COM —————————————————— President Correa is proposing in 2012 that the fuel subsidy will be eliminated for airline companies in Ecuador. This will no doubt impact everyone’s pocket book and could put further stress on tourism and travel for Ecuadorians within the country. Overall, a […]
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The unemployment rate in the moving quarter from August to October stood at 7.2%, reaching a figure lower than market expectations. According to the report published by the National Statistics Institute (INE), the unemployment rate decreased 0.2 percentage points over the previous rolling quarter and 0.4 percentage points in twelve months. Read Article
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The Central Reserve Bank (BCR) put into circulation the seventh coin coin series “Wealth and Pride of Peru”, which is why the archaeological complex known as the Great Pajaten. Javier Añorga, BCR official said they will put ten million coins in circulation. Read Article
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he Economic Commission for Latin America (ECLAC) said Tuesday that the region there are 177 million poor people, of whom 70 million live without adequate shelter and own income. The ECLAC Executive Secretary Alicia Barcena, presented today at the continental body’s report on the Social Panorama 2011, which indicates that poverty in the region is […]
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The borders of Central American countries could be blocked in December by freight carriers operating in the region, who yesterday expressed his displeasure with the possible adoption of a series of reforms of the Regulation on International Land Transit System. According to officials of the American Federation of Freight Carriers, Fecatrans, the governments of the […]
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President Hugo Chavez holds a private meeting Thursday with Deputy Minister of National Development and Reform of the Republic of China, Zhan Xiao Qiang, at the Palace of Miraflores, where firmaeon agreements on energy, oil and productive economic. The signing of these agreements arises after having installed this past Wednesday, the Tenth Meeting of the […]
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Venezuela’s government on Friday began the repatriation of the first batch of gold reserves from the 1980’s, were deposited in European banks. Chavez in August ordered the withdrawal of all precious metal reserves, estimated at 211.35 tonnes, equivalent to 11 billion dollars, which was the country where U.S. and European banks.The president has defended the […]
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The worst drought in 70 years to hit most of the country, and in Queretaro has caused the loss of more than 36 000 hectares of temporary and 60 000 tonnes of maize, will cause an increase in grain prices up to 30 percent, said the secretary of Agricultural Development of the entity, Manuel Valdés […]
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Mexico and China will end in a few weeks to a series of trade measures that sought to protect American country’s production, which worsens industrial disproportionate fear that imports of Chinese goods and reactivate disputes between the two nations. The entry into Mexico of textiles, shoes, toys and other Chinese products has jeopardized the local […]
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everal Latin American emerging markets (including Brazil, Colombia and Peru), Asia (India, Indonesia and Sri Lanka) and Europe (Turkey, Russia and Georgia) have experienced rapid credit growth in 2011, and the risks are mitigated by a modest relationship between loans and Gross Domestic Product (GDP). Read Article
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Dominicans have partially complied with 24 hours general strike and civil social organizations called for Monday to reject the economic policies adopted by the government of Leonel Fernandez and to demand higher wages in the public sector and private sector. The so-called “national strike” has been organized by the Alternative Social Forum and the Broad […]
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The government of Raul Castro accused the United States to collaborate with the expansion in Cuba for crimes related to illegal connections to the Internet and satellite television, supplying equipment and telecommunications equipment that allow secret on the island. In April this year were held in Havana, an unspecified number of people engaged in installing […]
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Consumers may have relief, for food imports could reduce inflation.Upon entering into force the Free Trade Agreement (FTA) with the United States, ratified by the Congress of that country on Wednesday, opening the door for families to have alternatives ‘gringo’ to milk, chicken, chicken and the egg to the extent that will gradually lowering import […]
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The Minister of Labour and Social Welfare, Evelyn Matthei, reported this morning that since the entry into force of the new law postnatal on 17 October, 15 421 permits have been granted six months postnatal. He further reported that in 25 cases, the mother gave him the benefit of his father, as the case of […]
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The president of Bolivia, Evo Morales, said the strategy of integrating South American country’s road, vital to economic development. In an act for the delivery of the stretch between the towns of Tupiza and Cotagaita, in the southern department of Potosi, Morales said that the greatest satisfaction is the joy of farmers and children of […]
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The Human Development Index 2011 (HDI), the United Nations Program for Development, was published last Wednesday. This is a report involving 187 countries worldwide.The study places Ecuador in the high category, occupying the place 83. Research is conducted for 21 years and combines economic prosperity with education levels and life expectancy of the population. Read […]
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A torrent of gray, toxic water spews from a drainage tunnel and surges along the ravine, tumbling along garbage that has fallen from the Guatemalan capital’s main landfill 1,000 feet (300 meters) above. Despite the foul odors, the danger of unstable piles of garbage collapsing and the chance for heavy rain to suddenly raise the […]
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In the more than 26 million Mexicans facing food poverty, and economic assets, “are women and men living in rural areas and have no effective access to adequate food, health, education, social security, housing, no job, “as well, there is famine Durango, Zacatecas, Chihuahua, Coahuila, Mexico State, Oaxaca and Guerrero, the poverty of the area, […]
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The Ministry of Agriculture reports that as a result of the floods, more than 240 000 cattle have been mobilized to safe areas and more than 344 000 hectares have been damaged. The deputy of the Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food, Hector Palacios Limonchi reported that 344 000 626.5 hectares are […]
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The Central Bank took several measures to prevent the Argentines continue with the acquisition of the U.S. currency.The national government had yesterday to market $ 140 million to prevent the U.S. currency rises. The draft budget presented by the Executive in the House of Representatives next year estimated that the dollar exchange rate for 2012 […]
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The federal government said he wants to strengthen the protection against unfair foreign trade practices of Chinese enterprises, for which he proposed an increase of 45% of the budget of the International Trade Practices Unit (UPCI) and promotes legislative changes to give it greater attributions. Read Article
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THE ECONOMIST: WITHIN months of becoming Ecuador’s president in 2007, Rafael Correa (pictured) announced that he was working on antitrust legislation, pointing out that Ecuador was one of the few countries in South America without such a law. This August he introduced a bill that aimed to increase the market share of small and mid-sized […]
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According to Lacronica.com, the influx of U.S. residents visiting for medical tourism to the town of Algodones, is up to 50% lower compared to 2010. Jorge Guzman, who sells silver jewelry in the city center, said that at this time, but last year, had to travel a thousand people and today there are only 200 […]
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There are over 80 border crossings used by traffickers. Until the end of August there were 650 drug raids. Seized 25 tons of cannabis and arrested 42 people. 90% of prison inmates Candelaria are “mules”. At that time the Paraná mirror reflects only shade, water boatmen earn sheer necessity. Rowing load hurry and fear, unable […]
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The economic sectors with the highest incomes were the corporate address 584 000 643 pesos, followed by financial services and insurance 519 000 697 weights and mass media with 349 000 422 pesos. This, according to figures from National Accounts System of Mexico 2006-2010. As expected, low-paying sectors were agriculture, livestock and forest harvesting, fishing […]
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In early 1960, a group of U.S. planners arrived in southeastern Venezuela to design an industrial city imagining it as the “Pittsburgh of the tropics”, at the confluence of two rivers and vast resources minerals. But 50 years later, Ciudad Guayana, the only planned city in the country, nestled between the Orinoco and Caroni, with […]
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Heavy rains have destroyed homes leaving families without shelter as well as destroyed roads, El Espectador reports. Given the seriousness of the situation, the mayor, Judith Pinedo Florez flew on a helicopter to have a complete picture of the critical areas affected by the severe rains. Read Article
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According to the Ministry of the Environment and Sustainable Development the company interested in building the luxury hotel is interested in investing in ecotourism in the Tayrona National Parl, El Espectador reports. According to their declarations, the Ministry of Environment and Sustainable Development values and respects the ancestors and the culture of our indigenous peoples […]
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The general attorney’s diagnosis shows a waste of human capital, El Tiempo reports. Six of every ten Colombians who are employed do not have a decent job. They work on their own and most are in the informal sector, they work without a formal contract, earn less than the minimum wage and are outside the […]
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The Labor Minister Carlos Lupi, attributed to the processing industry to reduce the generation of jobs in September. This compared with the same month last year. Commenting on the behavior of the creation and disappearance of jobs in the ninth month of this year, Lupi said that economic sector lost 30,000 jobs in September, which […]
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Commenting on the announcement by President Juan Manuel Santos to build a 7-star “environmentally friendly” hotel in Tayrona National Park, RCN Radio was able to establish that there are no studies for this project and that the project will have an impact on the environment. The studies to obtain the licenses to build the project […]
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The night of Thursday, the anniversary ceremony of the 75 years of the Chamber of Industries and Production, the president of the National Business Association of Colombia (ANDI), Luis Carlos Villegas, was blunt in his advice on how a country should be inserted in the global context and make the most. “Globalization gives greater freedom […]
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Six of every ten Colombians who have jobs do not have a decent job. They work on their own and most are informal, have been engaged without a formal contract, earn less than the minimum and are outside the social security systems. Read Article
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he tax on vehicles grew by more than 5% in this government. Although there was only an increase of 35% to 40% tariffs on imported cars that exceeded 1,900 cubic inches in December 2010, the increase in practice was about 11% because it had a cascading effect on taxes : Special Consumption Tax (ICE) and […]
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The president of Ecuador, Rafael Correa, announced Saturday that the investigation will resume the disappearance of Colombian brothers James and Andrew Restrepo, which occurred in 1988 after being arrested by police and whose bodies were thrown presumed in the lagoon of Yambo. The announcement was made during the weekly report to work at the premiere […]
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Although the export sector sees as positive the renewal of the Andean Trade Preferences Act (ATPDEA), the concern now is how to prepare for this system, once completed in July 2013 definitely. “It is gratifying to know that at least we have this extension until July 2013, which gives us almost two years to achieve […]
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The tendency of business to China is still the same, according to figures from the past three years. In Ecuador is still increasing number of imported products it sold. Between January and July this year, China sold $ 116.3 million, according to the Ecuadorian Federation of Exporters (FEDEXPOR). This facing 1212.5 million, which were imported […]
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Indigenous peoples demand the government to avail the constitutional mandates of human rights and free, prior, and informed consent, El Espectador reports. The Regional Indigenous Council of Cauca (CRIC) called for a march on the Panamerican Highway in order to protest against the extraction of gold in mines located in the protected zones of Canoas […]
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Eight of the top 12 countries with the best global business environment for microfinance in Latin America are, according to a report released today by the XIV Inter-American Forum on Microenterprise (Foromic 2011). The event, which meets in the capital of Costa Rica, attended by a dozen countries in the region called by the Inter-American […]
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According to a study by Colombia’s Central Bank, the level of household debt is reaching worrying levels at the end of the first six months of this year (2011), El Espectador reports. The study says household debt is reaching similar levels to those recorded during the economic crisis of the 1990s. The report notes that […]
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The president of Nicaragua, Daniel Ortega, who is seeking re-election next November 6, said today that the government continue to expand the fight against poverty in this Central American nation. With the support of social programs executed during the last five years, the Sandinista leader reiterated the purpose of banishing poverty through more education, health, […]
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China is set to replace the United States this year as Peru’s biggest trade partner, said Jorge Chian, the economic and trade advisor at Peru’s Embassy in Beijing. In the first seven months of 2011, Peru’s exports to China grew by 30 percent and placed it above the United States, state news agency Andina reported. […]
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An analysis of the Salvadorian industrial sector identified the following as monumental obstacles in the development of a prosperous and healthy economy: • Low productivity; low technological content • Scarce innovation • High productivity costs; inputs, labor costs, and physical capital • International economic conditions • Limited financing of the industrial sector • Institutional deficiencies […]
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China is the undisputed new actor in international politics. It is not only courted the country to come to the aid of the dying economy of European countries, but its policy is becoming more welcome in a world that watches American decline accelerates and Western. China’s foreign policy is the implementation of a political and […]
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Employees of private and public banking sector in Brazil have launched a general strike aimed at pressuring the sector employer to receive better wages. The conflict threatens to halt for an indefinite period the Brazilian financial sector. Unemployment, general and indefinite, has been convened by the National Confederation of Workers of Finance Branch, the union […]
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El Universo reported that there are 1,828 Ecuadorians in foreign prisons. The majority of Ecuadorian prisoners(1,448)are in Spain. There are a recorded 150 Ecuadorians in U.S. prisons. Read Article
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The income of private non-financial services in Mexico registered a real growth of 6.8 percent in July 2011, to settle at 124.8 points, while at the same month a year earlier had been only 116.8 points , reported the National Institute of Statistics and Geography (INEGI). In a statement, the agency said the increase is […]
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The plastics industry expects to end 2011 with investment of 800 million billion dollars, that is, 200 million more than last year and a growth of 9 percent, and was announced by Eduardo Martínez, president of the National Plastic Industries Association (ANIPAC). He explained that Mexico produces annually about 8.7 million tons of plastic, but […]
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China will allocate 1,000 million dollars in preferential loans to support economic development of countries in the Caribbean. Es la primera vez que lo hace fuera de Cuba. It is the first time I made out of Cuba. Chinese Vice Quishan Wang said that “China can not develop isolated from the world and the world […]
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China announced on Monday it will provide $1 billion in loans to Caribbean countries to finance infrastructure projects as it deepens ties in a region historically linked with the United States. The loans will be made available through the state-run China Development Bank, China’s Vice Premier Wang Qishan told a meeting of Caribbean and Chinese […]
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After Monte Alban a ritual involving the members of the Peace Caravan, Javier Sicilia noted that the San Andrés agreements are pending in the nation and that he signed the former President Ernesto Zedillo on behalf of the country, “and as we are not traitors, we come to demand that autonomy and respect. They said […]
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Revistagobierno.com reported that Brazil’s Guarani Indians demanded that the energy giant Shell to stop using their ancestral lands for the production of ethanol. Vilhalva Ambrosio, a Guaraní man of one of the affected communities, said Survival International : “Shell should leave our land … the companies should stop using Indian land. We want justice, we […]
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Last July, the production of Portland cement in the country amounted to 927 thousand tons, 13.8 percent more than the same month of 2010. The Dane also features a 13 percent increase in shipments. According to the entity, the majority of shipments went to the cement trucks (28.3 percent) and marketing (8.8) with a contribution, […]
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Foreign Minister Héctor Timerman stated today Argentina and China “are building a strategic relationship,” highlighting “positive investment activity” within bilateral connections, as he was heading a dinner with powerful Chinese executives, during his first activity on his China visit. Read Article
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According to a study by a private consultant in 2010, supermarket chains lost more than 780 million dollars to causes of the decline nationwide in sales, which was 1.65 percent. The study provides a telling statistic: the figure resginaron supermarkets could have paid salaries to more than 19,000 employees for a year. Read Article
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Brazil’s central bank slashed its key interest rate to 12 percent from 12.5 percent on Wednesday in a shock decision that it said reflects a mounting global slowdown as well as weaker growth in Latin America’s largest economy. Read Article
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Extortion (la vacuna) is not a new scourge in Medellin and Valle de Aburrá. The “vaccine” is used for years as a way of financing illegal armed groups and common criminals. Transporters and traders are among the most affected unions. And in the midst of this illegal pressure, the average citizen suffers the humiliation of […]
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Leaders at a gathering of nations from Latin America and Asia called Thursday for closer economic cooperation to help combat the global financial crisis. Argentine Foreign Minister Hector Timerman kicked off the gather by underlining “the need for concrete actions to strengthen bi regional political and economic ties.” Read Article
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Financial markets around the world experienced tumultuous swings following Standard & Poor’s first-ever downgrade of the U.S. credit rating on Aug. 5. An ongoing European debt crisis and forecasts for sluggish economic growth worldwide are also rattling investors. What effects will the downbeat economic sentiment have on Latin American countries? Which ones are most at […]
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Unemployment in the OECD countries averaged 18.9 percent last year, The Wall Street Journal reported Aug. 10, and youth are three times more likely to be unemployed than older workers in Latin America and the Caribbean, according to the International Labor Association. Meanwhile, protests calling for education reform in Chile have erupted in violence and […]
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A report from the Chamber of Automotive Trade (CEC) in Argentina shows that used cars sales reached 158,770 in July, an increase of 23.12% from last year when only 128,955 cars were sold, according to infobae.com. From June to July this year there was a 2.39% increase. In the wake of recent market scares, representatives […]
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City Bank of Argentina has announced that the purchase of gold has increased by 10 times the normal amount in the past week due to the recent declines in the world market, according to infobae.com. Normally, Argentine banks sell one or two kilos of gold a day, and last week the average was 20 kilos […]
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The rating agency Standard & Poor’s has downgraded Venezuela’s credit rating, citing the country’s political risk as a key weakness. S&P lowered the country’s sovereign currency rating once notch Friday from BB¯ to B+ with a stable outlook. Read Article
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According to Peru21.pe the Marriott hotel chain has delayed their opening of a new hotel in Cusco, scheduled for June 2012. Maritza Montero, director of sales and marketing for Marriott says the budget for the project, $40 million, remains unchanged and that the construction and structure work was only delayed. Montero announced that construction of […]
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Canada’s free-trade agreement with Colombia will come into force Aug. 15, Prime Minister Stephen Harper said Wednesday. Harper made the announcement jointly with Colombian President Juan Manuel Santos during a visit to that country, his second stop on a Latin American tour this week. Read Article
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International Power reported a better-than-expected first-half profit as growing power demand in Latin America offset a drop in Europe and the UK, and the company said it expects growth in full-year results. Read Article
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Growth in Latin America may see a “significant slowdown” if the U.S. and Europe return to recession, even though the region’s economies are in a good enough financial shape to avoid a crisis, Morgan Stanley said. Read Article
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According to Andes.info.ec a new Tax Reform Pro Heath proposal includes a maximum environmental tax on luxury vehicles of $1,248 per year. Reportedly, this number is four times smaller than the $5,200 figure mentioned a month ago. The tax applies to vehicles that have a motor larger than 3,000 cubic centimeters. Vehicles with motors between […]
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According to Andina.com.pe the Peruvian Ministry of Energy and Mines (MEM) announced they are using legal mechanisms for natural gas reserves in Block 88 to enter the domestic market. The Minister of Energy and Mines, Carlos Herrera Descalzi says their priority is to help the domestic market before exporting the natural gas from Block 88. […]
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Extra.ec reports a study by the Catholic University of Quito found that out of 5,643 street vendors, 1,093 are younger than 17 years old. Also, the study found that 64.4% of the vendors are men and 35.6% are women. The basis of the study was to find out the working conditions of the traders. The […]
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According to ElComercio.com the Chilean state copper company, Codelco announced today, Monday August 1st, that it will begin mining project explorations in Ecuador with the help of Ecuador’s ENAMI and other private firms. Codelco, the largest copper producer in the world, says Ecuador is fairly new to metal mining and their copper mining knowledge could […]
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Vanguardia reports: • Frosts, droughts, floods and other natural phenomena are seriously affecting Mexico’s production of essential crops • 23 of Mexico’s 32 states are affected by the worst drought in 70 years; largest grain-producing states are most affected and many consider the year a total loss • 20 million tons of crops are threatened […]
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A report released by the National Institute of Statistics and Census (Indec) shows that supermarket sales in Argentina were 14.9% higher in June 2011 than last year, and increased a total of 26.5% in the first six months of the year, totaling about 6.5 million pesos, according to infobae.com. These changes, however, do not seem […]
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According to ElNorte.ec the government will begin charging the new electricity rates, without subsidies for those who exceed more than 500 kW/h per month. The director of marketing at Emelnorte says the new system of electricity prices will provide more efficiency to the residential sector. Emerlnorte officials say only 375 subscribers use more than 500 […]
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The Argentine government announced yesterday that it is releasing 450 thousand tons of wheat from the export surplus for domestic use, reports lanueva.com. The ministers of economy and of agriculture, livestock and fisheries made the announcement yesterday, explaining that 150 thousand tons will go to Entre Ríos and the rest will be split between Santa […]
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Uruguay is estimated to receive 3 million tourists by the end of the year, making the tourism industry one of the largest contributors to the national economy, reports elobservador.com.uy. These 3 million visitors are estimated to boost tourism revenue to $2,000 million by the end of 2011 and are already generating thousands of new jobs. […]
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•400 storeowners gathered in protest against the restrictions on the hours that liquor can be sold in Bogotá, Colombia. •Liquor cannot be sold after 11:00 p.m. in Bogotá which has caused liquor sales to drop 50% according to the protestors per noticias.terra.com.co. •The protestors have marched to the Plaza de Bolívar to protest the measure […]
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According to ElComercio.com the National Confederation of Public Servants (Conasep) calculated that about 10,000 bureaucrats are interested in the new decree, which announced a voluntary retirement due to age. Officials say article 81 of the Organic Law of Public Service (Losep) establishes that workers under the age of 70 can take advantage of the new […]
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ElComercio.pe reports that Puno business people have asked the Peruvian Ministry of Finance to declare an economic emergency in their region. Officials say this is due to the recent protests concerning mining concessions in Puno. The economic losses due to the protests stand at $200 million report CPN. Authorities from the Juliaca Chamber of Commerce […]
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(From the Economist) HOW do Latin America’s countries rank in terms of wealth? Whatever answer you have in mind is wrong, according to one measurement or another. Take GDP per capita: as of a few years ago, Brazil has been richer than Mexico. But if you account for purchasing power (that is, the amount of […]
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ElComercio.com reports the Ecuadorian vice-Minister of Security, Xavier Berrezueta announced this morning, Wednesday July 20th that foreigners applying for Ecuador’s permanent visas will have to undergo criminal background checks. The vice-Minister says the new rule began today, as well as revisions of current visas. Also, Berrezueta announced foreigners marrying in Ecuador would need to stay […]
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The Brazilian Institute of Geography and Statistics (IBGE) reported today that the unemployment rate during the month of June was the lowest the country has seen in 10 years, according to abc.com.py. The unemployment rate of the economically active part of the population was at 6.2% this June, compared to 7% last year and 11.6% […]
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The Canadian company that owns BlackBerry, Research in Motion (RIM), announced yesterday that it will begin producing its smart phones in Tierra del Fuego, Argentina starting this October, reports cronista.com. After months of resisting setting up a plant in Argentina, RIM finally caved due to monetary and market share losses they’ve suffered after their competitors […]
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Ecuadorian economist Pedro Francisco Páez voices the need of a new financial architecture for Latin American countries in order to avoid crisis informed SDPnoticias.com. Paez insists that the design of a new currency and financial security, other than the IMF, will ultimately safeguard Latin America’s financial stability. Read article.
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•Among the reforms in the new Law of Royalties in Colombia, Santos announced that no more unnecessary building works will be commissioned or paid for by the royalties from mining and energy resources. •El Tiempo reports that a Fund for Savings and Stabilization is to be established which will take a percentage of the resources […]
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According to ElComercio.pe the Peruvian government began to compensate victims of the Shining Path movement, during the years of 1980 and 2000, on Saturday July 16th. Government officials say that a total of 20 million soles will be handed out in individual increments of 10,000 soles. The president of the Ministry Cabinet Rosario Fernandez says […]
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They call it El Puente Billinghurst: a bright orange, half-mile suspension bridge, straddling the thick, murky waters of Peru’s Madre de Dios River.But the Billinghurst is no ordinary bridge. When it is inaugurated later this month it will signal the realisation of a long-held dream: the completion of a 1,600-mile (2,600km) road cutting through some […]
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•The Colombian Government is to ratify an initiative to reduce the poverty rate in rural areas by 30%. •As revealed by El Espectador, 62% of the rural population is below the poverty line. •The Law of Rural Development will involve 25 areas and will incorporate 11 large components such as incentives to improve use of […]
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Bank of America has sold its share in Mexico’s Santander Bank, but that does not mean that they are changing their strategy for Latin America, Univision reports. The sale comes as part of Bank of America’s decision to concentrate on their business priorities. As part of this activity, Bank of America has sold nearly $9.5 […]
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The Aviation Pilots’ Union (ASPA) of Mexico has brought a second lawsuit against the Posadas business group. According to the lawsuit, which was brought before the Attorney General’s Office, the businessmen retained the withheld income tax from the salaries of Mexicana Airlines pilots, and then blamed employees for the tax “error” at the end of […]
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The fuel shortages in Argentina have reached new levels of intensity, especially in the interior of the country, according to infobae.com. Head of the Argentine Federation of the Interior Dispensing of Fuel, Daniel Giribone, says there is no hope for a quick fix because shortages in the interior provinces of the country are not seasonal, […]
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According to ElUniverso.com two females from the Netherlands were victims of an express kidnapping and rape on Friday July 8th. The Judicial Police of Guayas say that the two victims reported the incident to police with the help of Galo Leon, the director of the hotel where the tourists are staying. The women say that […]
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According to ElComercio.com the lack of regulations in Ecuador’s Banana Law is causing conflicts between banana producers and exporters. Officials say that many banana exporters do not comply with the official price of a box of bananas, $5.50 per box. However, the law prevents authorities of the Ministry of Agriculture, Livestock and Fisheries (MAGAP) from […]
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