According to data from the National Institute of Statistics, Geography and Information (INEGI), there were 430,000 traffic accidents in Mexico in 2009, of which 6000 were fatal, CNN Expansion reports. The total cost of these accidents, including material damages, medical costs and administrative costs, represents 1.3% of Mexico’s GDP. One expert recommends methods to reduce traffic accidents and their associated costs in Mexico. Most road accidents are avoidable, such as driving while tired, driving while intoxicated and driving at high speeds. The infrastructure in Mexico also lends itself to high accident rates, such as poor signage and safety measures. Overall, it is recommended that Mexico improve its infrastructure and driver education to lower accident rates. Read Article
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ElComercio.com reports on July 6th, that Petroecuador has postponed the negotiations of “mature” oil fields in order to enhance the natural recovery time in the area. This report was broken by Andes news organization, last night. The story says the areas of recovery include the oil fields of Auca, Shushufindi, Cuyabeno, and Libertador that are […]
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According to ElComercio.com Ecuadorian household consumption is higher than last year at 7.55% for the first quarter. The Central Bank chairman, Diego Borja says that three factors have influenced the consumption increase, the volume of credit extended by the Ecuadorian financial system, remittances from family abroad, and rising real wages. Officials point to other economic […]
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The Mexico City Department of Tourism met with the Department of Communication and Transportation to request the construction of a new airport in the country’s capital or to at least add two new runways to the existing airport, El Universal reports. The Department of Tourism says there is increasing interest from airlines wishing to add […]
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According to ElComercio.com the Teleferico Complex opened in May 2005 with 80 business including restaurants, fast food chains, ice cream parlors, souvenir shops, a nightclub and an amusement park. However, in 2011 the complex is left with seven open businesses. Juan Pablo Hidalgo, marketing manager for Vulcano Park and Prostatus Company says that food marketing […]
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President of Venezuela Hugo Chavez’s struggle with cancer has severely shaken Cuban society, according to terra.com. A long-lasting friendship between Chavez and Fidel Castro, now carried on with Raul Castro, has been the glue to a strong economic relationship between the 2 nations that has greatly boosted the economy and overall standard of living in […]
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According to Peru21.pe the 25-year project to establish an electric train in Lima will need an 86 million sole subsidy from the government. Officials say that the project headed by President Alan Garcia is scheduled to be operational on July 11th. The government contract states that the Ministry of Transportation and Communications (MTC) must subsidize […]
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According to Peru21.pe the Lima city council approved a budget of 10.5 million soles for 22 projects in poorer zones of the capital on the 1st of July. Officials say that the projects will consist of 12 new staircases, 10 new outdoor recreation areas and a smaller budget of about 5.92 million soles for improvements […]
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According to ElComercio.com two people were murdered in Guayaquil in the last few hours. Officials report, this morning, July 1st a man’s body was found abandoned in the trunk of a car in the Guayaquil suburbs. Police say he had been shot in the head and his hands and feet were shackled. They assume that […]
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Argentine president Cristina Kirchner commented on the economic status of the country, stating that if reelected for another term, she will ensure industry growth and Argentina will remain a model of democratized growth around the world, according to infobae.com. The remarks were made at the Casa Rosada yesterday afternoon during a ceremony held to officially […]
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According to Gestion.pe the Central Reserve Bank (BCR) today, Thursday June 30th, introduced new 10 and 20 soles into the Peruvian money circulation. These new banknotes feature designs that increase money security and prevent counterfeiting, say BCR officials. The new 10 sole has the face of Jose Abelardo Quinonez on the front and the image […]
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Over 25,000 acres of citrus in the state of Veracruz are considered a total loss due to the devastating drought affecting Mexico, Más Producción Agricultural News reports. Consumers are beginning to feel the effects of the crop loss through product scarcity and price increases. There are a total of 200,000 acres of citrus crops in […]
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•Colombia’s agriculture sector has increased 7.8%, which is the highest increase in 11 years despite the harsh conditions of winter. •Ricardo Sánchez, minister of Agriculture, attributed the increase to President Santos’ policies according to Caracol Radio. •In relation to international prices, transitional crops have increased by 9.4% and permanent crops by 4.8%. •The winter did […]
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According to ElUniverso.com the major market of Ambato is worried about the shortages of products causing prices to rise and buyers to disappear. Traders comment that buyers, who came from a variety of cities in Ecuador, are beginning to prefer the markets of Riobamba and Latacunga. For instance, no peas are available in Ambato, says […]
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According to Andes.info.ec some Ecuadorian provinces have signed agreements with the Universal Postal Union and the Postal Union of the Americas that will implement the electronic system IFS, to make sending payment and electronic fund transfers easier. In turn, this means that Ecuadorian migrants will be able to send remittances back to Ecuador in less […]
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Tourism in Argentina during the first trimester of 2011 has gone up 12.8% since last year, according to prensalibre.com. The Argentine Department of Tourism reported that 1.7 million tourists visited the country in the first three months of the year and spent around 1500 million pesos ($368.9 million). More than half of the tourists came […]
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Websites ONPE, the MEF and the Congress were blocked by Anonymous justifying their attacks against the government for its rejection of the Trans-Pacific Partnership Agreement.Peruvian Government websites threat of attacks after suffering Anonymous | RPPKnow if Peru is prepared for an attack by Anonymous | RPPAnonymous hackers announced operation against Peru and Chile | RPP […]
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According to ElComercio.com the Coordinating Minister for Security, Homero Arellano announced that Ecuador’s Central Bank would buy gold directly from the miners of San Lorenzo and Eloy Alfaro. The announcement was made in Selvalegre, northern Esmeraldas. Furthermore, the government will provide 50 gold extraction machines, to miners through mining associations. The machines cost $9,000 each […]
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According to ElComercio.com Tame Airlines and ATR Turboprops signed a purchase agreement for the ownership of three new ATR 42-500 aircrafts worth $54 million on Wednesday June 22nd. Tame will use these aircrafts for domestic economy flights called, “Milk Train” flights. These flights will connect several smaller cities on a single route. Destinations include Puyo, […]
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According to ElComercio.com a judge of the Guayas judicial system denied a protective action against rising electricity rates for the National Electricity Council (CONELEC) today, Thursday June 23rd. Miguel Palacios, president of the Civil Council of Guayaquil (JCG) lead the indictment and will appeal the ruling. The judge says that she could not provide a […]
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According to ElUniverso.com the European Union has extended the system of preferences that benefit about 6,000 Ecuadorian products until December 2013. The announcement was made Wednesday by E.U. Minister of Economic Policy Coordination, Katiuska King. The statement said the decision was made on May 31st in the Official Journal of the E.U. King says that […]
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The Department of Tourism in Mendoza has launched a new campaign ad featuring the slogan “Mendoza, nothing higher,” referring to the Aconcagua mountain located in the province which has the highest peak in the Americas, according to diariouno.com. The new slogan will be used for the first time on July 11 during the Copa America […]
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Hoy.com.ec reports that a delegation of Ecuadorian officials and businessmen traveled to Mexico Tuesday June 21st to promote their domestic products for trade with Mexico. The Ecuadorian Foreign Ministry says that in 2010 a deficit of $640.2 million was registered for trade between the two countries. Ecuadorian officials will remain in Mexico until Friday to […]
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According to ElComercio.pe the National Chamber of Tourism, Canatur, will present President-elect Ollanta Humala with a tourism development plan for the next five years. The plan has three proposals: creation of a ministry of tourism, creating ‘noramazonico’ and central Peruvian tourism circuits, and a state investment of $5 billion for tourism projects. Carlos Canales, director […]
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RPP.com.pe reports that starting June 21st Air France will begin offering five daily flights from Paris to Lima. The airlines says that it will assess whether to extend the flights after viewing customer demand and negotiating agreements with local carriers for flights that include Cusco. Air France is investing 100 million euros plus a million […]
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Argentina has felt the greatest impact from the Chilean volcano, Puyehue, as the largest portion of ash has fallen in southwest cities and provinces in the country, according to df.cl. The tourism industry in the area has been hit the hardest and tourism operators in places like Bariloche estimate a loss of $100 million of […]
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According to Trafficnews.ec about 40% of the tourists visiting Peru are from high-income families, while 60% are middle-income tourists, says the executive president of Tucano Reps, Veronica Napuri. Most international tourists come from Britain, Canada, Australia, Europe, USA, Singapore, and India. Luxury tourists are spending USD 3,00 for a 10 to 12 day stay. While […]
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On Wednesday, the National Federation of Agriculturists and Stock-raisers of Honduras (FENAGH) criticized the government’s recent decision to import kidney beans from Ethiopia, a decision taken without consulting the FENAGH. Leopoldo Durán, the president of FENAGH, said that FENAGH will investigate the decision in collaboration with other agricultural organizations. Durán predicts that negative economic consequences […]
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An anonymous source has revealed that on Friday, June 17 Mazda Motor Corporation will announce plans to open a new car plant in Mexico, CNN reports. The Japanese company currently has car plants in the United States, China and Thailand; this new compact car assembly plant will be the fourth located outside of Japan. Construction […]
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According to ElComercio.pe this open skies aviation agreement will reduce travel costs up to 10%. Today, Thursday June 16th, released a legislative resolution about an Air Transport Agreement between Panama and Peru. This agreement outlines policy of open skies between the two countries and is subjected to a few rights that relate to the commercial […]
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According to Ecuadorenvivo.com Ecuador’s secretary of commerce and investment meet with officials from Turkey’s Ministry of Industry and Trade Wednesday June 15th to discuss the possibility of entering into a technical cooperation organization specialized in SMEs, small and medium enterprises, of Turkey. The trade agreement wishes to expand access to international markets for Ecuadorian projects […]
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•In Peking, Colombia’s portafolio.co spoke with Enrique Dussel, the director of the Center of Chinese-Mexican Studies of Unam, who gave his view on how Latin America should approach Chinese business and involvement in the area. •One improvement he suggests is the increase of foreign exchange students between the two regions. •Lingual and cultural understanding is […]
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According to LaHora.com.ec the government has decided to backtrack on an issue of their tax reform and review the tax on cars. The basis of electrical consumption for subsidy elimination was changed as well. Also, the green tax is under review. The business community believes that these moves are politically motivated. President Rafael Correa stated […]
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According in Hoy.com.ec Interior Minister Jose Serrano and Security Minister Homero Arellano defended the military operation where 67 “retroescapadoras,” or earthmover used for illegal mining and extraction by small-scale miners in the San Lorenzo canton. The two ministers state that in eight months these miners were able to extract more than USD 100 million without […]
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According to Hoy.com.ec more than 3 million Peruvian children work in hazardous conditions harvesting coca leafs or as street venders. Most hazardous child labor occurs in the valley of the Apurimac and Ene rivers where 90% of children harvest coca leafs reports El Comercio. Harvesters are between 6 and 17, mostly women and work for […]
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ElComercio.com reports that the National Assembly in Quito approved the Law for Control and Regulation of Tobacco passed with 111 votes. The new legislation bans smoking in enclosed public spaces including restaurants, workplaces, public transportation or sports centers. Fines and other penalties will be issued when the law is broken. The law also prohibits smoking […]
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Ecuadorenvivo.com reports that Peruvian president-elect Ollanta Humala told Argentinian president, Cristina Fernandez that he supported the Mercosur agreement. At the same time, he admitted that the free trade agreement (FTA) with other third world countries is an obstacle to other integration projects. The two presidents meet today, June 14th in the Olivos presidential residence in […]
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According to ElUniverso.com Carlos Mauricio Marin Chacon, 24 died while trying to enter the United States as illegally this past 29th of April. He is from the La Union sector, in the province of Azuay. For 40 days the family of Carlos did not know his whereabouts. On the 9th of June a person informed […]
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ElComercio.com updated the figure of loans that are going to be made to the Ecuadorian government by the Chinese. This figure that was originally release as USD 1 billion was updated Tuesday June 14th at 3:52 p.m. to a figure of USD 2 billion. The loans will be made in segments of USD 1 billion. […]
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According to ElComercio.com President Rafael Correa confirmed the increased tax on plastic bottles during a government visit to Guayaquil. Correa dismissed the twitter announcement made by Environmental Minister, Marcela Aguinaga that stated there was a review on whether to charge the bottle tax. When Correa spoke to the press he dismissed the idea of increasing […]
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According to Hoy.com.ec the Chinese Development Bank will provide a load to Ecuador in the amount of USD 1 billion, with full discretion of the moneys’ use, sources in the negotiations with China say. The deal is not official, however the source says that negotiations are in the final phase and a formal announcement will […]
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Sunday, June 12th the World Day Against Child Labor was held by the United Nations Children’s Fund (UNICEF) reports LaHora.com.ec. 13% of the Ecuadorian workforce is made up of children between 5 and 17. Most work in agriculture, some work in mining or construction illegally. Families force their children to earn money. Ecuador’s minimum age […]
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According to ElUniverso.com, an operation in Madrid, Spain, Espejo, under-covered a network that laundered USD 25 million between 2007 and 2011. It began September 2010. The network used the façade of remittances. August 2010, Madrid police arrested an Ecuadorian migrant, Jenny Alexandra Fasce Schumacker with 40 others for crimes of money laundering, terrorism, and drug […]
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According to ElComercio.com many highways are built or being constructed in order to connect the countries together. Verdu, an Ecuadorian construction company, entered Peru in 2007 to build roads. Verdu won a contract to build a 65 km road between Sullana and Alamor. Many Ecuadorian tourists use this highway to enter Peru. The company worked […]
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•Having one of the highest unemployment rates in the European Union, Spaniards have been moving mostly to Latin America in order to find work as 20.7% of the Spanish population is without work per dinero.com. •Colombia is 10th among the countries that Spaniards travel to in order to find work with countries such as Argentina […]
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According to EcuaodrInmediato.com Spain and Chile are the largest economic donors to the Yasuni reserve. Earlier this year, Ecuador announced its plan to save the natural reserve of Yasuni from oil exploitation, the Yasuni-ITT project. However, without international help Ecuadorian President Rafael Correa is considering oil drilling. Germany’s Secretary of State, Gudrun Kopp explained that […]
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Recently, the Guayaquil Chamber of Commerce has become concerned about the economy of Ecuador report Expreso.ec. Even with high oil prices, the Commerce is concerned that the government has not made progress in the country’s growth. Eduardo Pena, the newly elected union president says that even with more economic resources than any previous administration, Correa’s […]
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According to Expreso.ec, the government has placed a tax on bottles and plastic bags in order to reduce their use and benefit the environment. Blasck Penaherrera, president of the business committee of Ecuador criticized the tax increase stating, President Rafael Correa’s intension is not to help the environment, but to finance the public budget. The […]
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According to ElUniversal.com Ecuador will use the Sucre for all public transactions with Venezuela. The Sucre is a ‘virtual currency’ established to reduce the dominance of the dollar in international markets. The Single System for Regional Clearing (Sucre) was created by the Bolivian Alliance for the Peoples of Our Americas (ALBA). In July 2010, the […]
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•Since last year, the number of people traveling to Cartagena by cruise has increased by 5.3%, and in the 2010-2011 season, cruises have brought in $40 million USD to the city according to eltiempo.com. •The cruises have brought in economic benefits to taxi drivers, artisans, restaurants and many other entities in the city. •The Sociedad […]
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Historically, Ecuador is a country with great social inequality, low human capital development, large gaps in institutional development, underdeveloped economy and a strong political instability. Proof of this is the low labor force, which by 2004 was 5,554 thousand inhabitants and a GDP annual rate of variation of 3.3%. It also has an urban unemployment […]
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Peru.com reports that if the new government of Ollanta Humala maintains the prudent economic policies and the healthy investing climate, Standard and Poor will strengthen Peru’s credit rating. This would help further investment ventures in Peru’s economy. Peru would have to limit the fiscal deficit to 2% of GDP, maintain the autonomy of the Central […]
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From El Economista: ● Unrest and violence on the northern border between Mexico and the US have negatively affected businesses, especially in the Mexican state of Tamaulipas ● The unrest has led residents of Texas to stop crossing the border to buy goods; business owners in Tamaulipas have decided to institute an “express service” and […]
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•The Ecuadorian Banco Pichina is planning to open branches in several Colombian cities such as Bogotá, Cali, and Medellín thus replacing the Inversora Pichincha S.A. Compañía de Financiamiento, the name used since 1994 per elcomercio.com. •Banco Pichina is also planning to open branches in another 10 Colombian cities. •According to the executive president of the […]
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•In Colombian society, Venezuelans have made a name for themselves in the fields of art, music, and even television, and this influx of immigrants has its roots in the dismissal of workers in the petroleum industry in Venezuela. •Semana.com calls the reason for the first wave of immigrants the P factor. Hugo Chávez dismissed 18,000 […]
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As caracol.com.co reports, in response to the rise in regular and diesel fuel in Colombia, a project to help stop the rise in prices will be up for approval in the Congress of the Republic starting Wednesday. The new plan will attempt to lower fuel prices by 1,000 to 1,500 pesos. Since December 2010, gas […]
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Ecuador will being operating three oil fields in a pristine Amazon preserve unless the international community contributes $100 million by December, President Rafael Correa announced Saturday. Read Article
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La Hora reports Ecuadorian business representatives met yesterday to address the government divisions surrounding trade with the European Union. Ecuadorian president of the Business Committee (ECC) Blasco Penaherrera says that with no clear trade policy statements made by government officials can create conflict. The Ecuadorian Deputy Foreign Minister Kintto Lucas stated that EU free trade […]
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North Americans, mainly from the United States, are flocking to South America, especially Argentina, in search of better health care and a better economy. Economic life in the United States has been difficult these past few years, and many have found life easier in Argentina. Some are drawn to the country because of the culture […]
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•A report from ar.reuters.com states that inflation in Colombia will be .2 % in May of 2011 a .1% increase from May 2010 due to the rainy season’s effect on crops and food prices. •At the close of 2011, inflation is expected to be 3.2 %. •At the end of 2012, inflation is expected to […]
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•The Ministerio de Minas y Energía set higher prices for regular and diesel gasoline throughout Colombia due to the higher international prices and a 900 million peso deficit in the Price Stabilization Fund according to rcnradio.com. •On average, in Bogotá regular gas is 8,500 pesos per gallon and diesel fuel is 7,358 pesos per gallon. […]
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Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy. Read Article
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• Three soldiers in active service were attempting to transport 200 military uniforms from Ecuador to irregular Colombian groups and were caught by the Unidad de Lucha Contra el Crimen Organizado del Ecuador as reported by. • A similar attempt was made a month ago to transport 600 uniforms through the northern border. Read Article
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•A study by Cepal states that China invested $15.251 billion USD in 2010, which was 9% of Latin American income making it the third investor in the region per opinon.eluniversal.com. •99% of Chinese investment was focused on Argentina and Brazil in 2010. •In 2011, China is planning to invest $22.74 billion dollars with Brazil receiving […]
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Peru and Japan on Tuesday signed a bilateral free trade agreement (FTA) which will promote the liberalization and facilitation of trade and investment between the two countries. The Economic Partnership Agreement (EPA) was inked by Japanese Foreign Minister Takeaki Matsumoto and Peruvian Foreign Trade and Tourism Minister Eduardo Ferreyros in Tokyo. Read Article
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•Portafolio.co reports that due to difficulties such as floods that have slowed production and transport of cement in Colombia, prices have risen 15% according to President of Holcim, Miguel Angel Rubaltava. •However, he mentioned that construction was doing with levels not seen since 1992. Read Article
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•The protestors are intent on blocking important roads within the 4 departments have affected Meta, Guajira, Arauca and Casanare per rcnradio.com. •They are protesting the royalty reforms passed by the Colombian government including which is a reform in La Guajira that will cut off $328 billion pesos that would have gone to programs for education […]
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First quarter of the year closed with exports at $140 million, according to espectador.com. Dairy exports reached a record high of $530 million at the end of 2010 and are expected to rise this year. This is due to the increase in prices of dairy products internationally. Read Article
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•Semana.com reveals that the British American Tobacco company plans to buy the Productora Tabacelera de Colombia S.A.S. (Protabaco) for $452 Million USD. •This will make the British American Tobacco company the second largest tobacco company in Colombia and fourth largest in Latin America. Read Article
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•President of Analac, Jorge Hernán Uribe, announced that the milk producers’ association would ask the Colombian government to give them a bonus of 50 pesos per liter of milk from cattle as revealed by caracol.com.co. •Uribe assures that a rise in milk prices do not need to increase because the Atlantic Coastal area is doing […]
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•Act 2755 from 2003 will allow hotel companies 30 years without income tax as they will build new hotels and rooms in Colombia until 2017 per elpais.com.co. •Between 2011 and 2012, the number of rooms is to be increased by 7,110. •Hotel chains such as Marriott are investing. •In 2010 alone, $1.7 billion USD was […]
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•In March of 2011, imports from China have by risen 69.4%, Japan’s by 103.5% and South Korea’s by 23.8% from March of 2010 per elespectador.com. •External sales from China amounted to $645.7 million USD CIF; from Japan they rose to $162.5 million USD CIF; from South Korea they reached $106.0 million CIF. •In the first […]
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•Swissinfo.ch reports that the agreement will go into effect on July 1st of this year. •In 2010, bilateral commerce between the two countries amounted to 1.25 billion Swiss Francs. •The Colombian government will eliminate duties on 85% of Swiss chemical, pharmaceutical, and technological products. •The Swiss government will do the same for Colombian fruits such […]
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If you didn’t fill up last night you missed on the opportunity to drive with cheap(er) gasoline today as the price at the pumps took a hike at the stroke of midnight, the fifth consecutive price increase this year. This morning Costa Rica woke up to the highest gasoline prices on record (based on purchasing […]
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•Semana.com reports that Fedasarrollo measured the Index of Consumer Confidence (ICC) to have lowered from 21.1% in March to 11.9% in April. •The Index of Consumer Confidence is determined by the Index of Consumer Expectations, which measures household expectations for the coming year, and the Index of Economic Conditions which measure the perception of the […]
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•Elespectador.com reveals that the planned airport involves an investment of 375 million USD on the Colombian government’s part which is to be decided before 2014. •Santiago Castro, director of Aeronáutica Civil, did not give the intended location of the airport within the sabana de Bogotá in order to avoid price overrun. •The airport will perform […]
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Security and defense, migration, the financial crisis and climate change will be on the agenda when MEPs and their Latin American counterparts meet 17-19 May in Montevideo, Uruguay, for the fifth plenary of the Euro-Latin American Parliamentary Assembly (EuroLat). A key issue will be negotiations for a free trade agreement between the EU and Mercosur […]
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Rapid expansion in trade and investment between the two emerging economies has brought tensions, especially from Brazilian manufacturers who complain that cheap Chinese imports are destroying their competitiveness. Read Article
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Argentine Minister for Industry, Debora Giorgi will meet in coming hours with Brazilian Ambassador, Enio Cordeiro, to schedule a series of meetings to address trade disputes between the two neighbouring countries and main Mercosur associates. Read Article
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President Hugo Chavez confirmed that the major private channels of food distribution that lend themselves to speculation and hoarding should be operated with the participation of workers and community councils. “And possibly seized. it would increase the social networks of food distribution to ensure good quality and fair prices, “he said Sunday during a telephone […]
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Since 2008 the Attorney General has conducted a series of changes in the institution besides the increase of personnel throughout the country. So far there are 2 thousand 624 staff working in different areas. The number of employees doubled from 2008 to 2011. Read Article
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Santos Assures A 100 Billion Peso Plan to Improve Colombian Infrastructure Per caracol.com.co, the Colombian president assures that the government will put into place said plan to improve the transportation infrastructure of the country which he says rates below a 3 on a 1 to 5 scale. Read Article
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U.S. Government To Pass a Free Trade Agreement with Colombia • Elcolombiano.com reports that Ron Kirk expresses expectations for the agreement to be approved by August if Congress also supports an increased Assistance Program of Commercial Adjustment. • Other free trade agreements with Panamá and South Korea are also being debated. Read Article (JR)
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Colombian Exports Grew 46.5% Thanks to Rise in Traditional Export Sales • Per elpais.com.co , external Colombian sales grew to 4.899 billion from 3.345 billion in March of 2010. • Petroleum sales grew 96.3% bringing the growth of traditional exports to 71.1% . • Non-traditional exports grew 12.5%. • The first trimester of 2011 has […]
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Colombia: Military Expenditures of 2010 Reach 21 Billion Pesos • A report by elespectador.com reports that 90% of that amount was spent on operation alone with the other 10% going to investment. • That 10% bought the Colombian army, navy, air force and the police force equipment, transportation, and weapons. • The official report from […]
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• Per report by portafolio.co , José Darío Uribe, director of the Bank of the Republic, estimated that Colombia’s GDP will grow 5% in 2011 mainly due to the sale of houses. • In the last trimester of 2010, the GDP grew 4.5% due to housing sales. • He expects that the growth will continue […]
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The Caribbean is beginning to turn the corner after a long and deep recession, according to the International Monetary Fund’s (IMF) 2011 Regional Economic Outlook for the Western Hemisphere. Read Article
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Progress on a free trade deal with Colombia has cleared the way for the White House to seek Congressional approval of a package of trade agreements that includes pacts with South Korea and Panama, as Republicans have demanded. Read Article
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Ecuador business confidence fell to a two-year low on concern a conflict with the U.S., the South American nation’s biggest trading partner, may hurt exports and decrease foreign investment, Deloitte & Touche LLP said. An index measuring company confidence in Ecuador fell to 76.2 last month out of a possible 250, its lowest since April […]
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The night before Graciela Bevacqua finished a report projecting the biggest monthly increase for Argentina’s consumer prices in more than four years, she told her three children she might quit her job as director of the inflation index. Read Article
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Revenues at General Electric’s Latin American operations surged 30 per cent in the first quarter of this year from the same period in 2010 and should continue to climb as the rapidly growing region rushes to improve its creaking infrastructure, the US industrial group has told the Financial Times. Read Article
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Consumer prices rose 0.68 percent in April from the prior month, the second quickest pace since June 2008, Peru’s national statistics agency said today. Monthly inflation accelerated 0.70 percent in March and was forecast to rise 0.48 percent in April, according the median estimate of eight analysts surveyed by Bloomberg. Read Article
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In less than a week, President Hugo Chávez Frías authorized wage increases and made a commitment to pay part of the debts with universities. Those obligations will cost the national Treasury USD 4.02 billion. Read Article
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AMAICA could grow its annual Gross Domestic Product (GDP) by 5.4 percentage points, if the country reduces its crime levels to that of Costa Rica. The suggestion was made by the World Bank in its 2011 World Development Report. The Report shows that Jamaica spends U$S385 million, or J$33 billion a year, on indirect medical […]
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I’m at the Mont Pelerin Society meeting in Buenos Aires, where I have been learning about the issues facing the future of freedom in South America. One interesting case is that of Chile, whose military government of the 1980s, perhaps surprisingly, introduced a series of free-market liberal reforms. One of these was to change Chile’s […]
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Novell today announced the government of Mexico’s Tax Administration Service, Servicio de Administracion Tributaria (SAT), has turned to Novell to bring its federal tax collection and investigation systems online. SAT chose Novell Compliance Management Platform to centrally manage the identities for nine million taxpayers and 35,000 employees in a secure and compliant manner. Within 18 […]
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Venezuela’s President Hugo Chávez announced a 26.5 percent increase of the minimum wage to be implemented in two segments, namely a 15 percent increase from May 1, and then a 10 percent rise from September 1. Read Article
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Concluding its mission to Costa Rica, the International Monetary Fund (IMF)has said that the medium term economic outlook is broadly positive, and that tax reform is key to the securing of a higher revenue base. As part of consultation discussions with Costa Rica, the IMF mission visited the country from March 28-April 12, and met […]
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One ton and three hundred ten kilos of cocaine hydrochloride were seized by the Narcotics Police of Guayas in two operations in the seaport of Guayaquil. Read Article http://www.eluniverso.com/2011/04/13/1/1422/13-toneladas-droga-platanos-pinas.html?p=1422&m=948
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At 05:50 this morning two buses belong to the Coactur cooperativa hit each other causing the death of 16 people and injuring 45. The accident happened in the hamlet of Pasillero las aguas, Ecuador, at km 56 on the road between Guayas and Manabi. Traffic was haulted for five hours. Preliminary investigation indicates that speed […]
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