Rio de Janeiro, Brazil: Business Reopens After Traffickers Order Shutdown

jcnet.com.br reported on June 10, 2013, that business in Providência; in the central area of Rio de Janeiro, reopened on Sunday (9) after traffickers ordered the closure of businesses to mourn death of drug dealer Diogo de Oliveira Santos who was killed by police. This is the second occurrence in the last 2 weeks in which traffickers ordered the closure of businesses and drug trafficking activity. The favela was pacified in 2010. Read Article

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President of Brazil Visits Ethiopia to Celebrate African Union

Globo reported on May 25, 2013 that President Dilma attended the 50th anniversary celebration of the African Union. In Ethiopia, President Dilma met with Ethiopian Prime Minister, Hailemariam Desalegn, to sign acts of bilateral cooperation in income transfer, air services, education, science and technology, as well as agricultural development. According to Dilma, Brazil wants to […]

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Brazil and Mexico Negotiate to Unite State Oil Company Pemex and Petrobras

em.com.br reported on May 17, 2013, a bilateral meeting between Mexican Foreign Minister, Jose Antonio Meade and Brazilian Foreign Minister, Antonio Patriota. The meeting’s agenda is an attempt to promote the unity of state oil companies, Petrobras and Pemex. The two ministers agree that Brazil and Mexico share a high interest in expanding trade relations […]

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Mexico: European beer brewers compete for Mexican market

According to El Economista.com, the Belgian brewer Anheuser-Busch InBev (AB InBev) acquired Grupo Modelo for $20,100 million further displacing Mexican companies in the beer market which had already suffered when the Dutch company Heineken bought FEMSA Cerveza in 2010. With sales of over $46,000 million, AB InBev now represents 56% of beer sales in Mexico, […]

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Mexico: Businesses Reinforce Relationships with Customers

Social networks have changed the way that people interact with each other and express opinions. The world has seen how social networks can influence public opinion and create unrest in the recent rioting in London and Chile. However, according to El Universal, businesses also have much to gain from exploiting the powers of social networks […]

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Ecuadorian Air Force Suspends Shipment of Cheetah Planes

According to ElUniverso.com the Ecuadorian Air Force (FAE) has suspended the shipment of Cheetah fighter-bombers from South Africa until an investigation is concluded into an accident that injured an air force pilot on Monday, August 15th. Navy representatives say the pilot, Galo Alvarez, was able to land safely at the Taura Air Force Base after […]

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NGO’s Warn of Unequal Distribution of Peruvian Police to Inhabitants in Lima

According to RPP.com.pe a specialist of citizen security with the non-governmental organization “Our City” says there is an unequal distribution of police to inhabitants in parts of the Peruvian capital, Lima. Carlos Romero says the majority of police forces are in the modern sectors of Lima leaving the sectors with the most inhabitants with little […]

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Cusco, Peru: Marriott Delay Hotel Opening

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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Lima, Peru: Gas From Block 88 Enters Domestic Markets Legally

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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Ecuador: Official Rule, Foreigners Requesting Residence Must Present Criminal Record

According to Vistazo.com the Ecuadorian Interior Ministry has presented a resolution stating foreigners, over 18 years old, obtaining visas of residence in Ecuador must submit a record of criminal history in the country where they resided for the past 5 years. This announcement came on August 2nd in the Official Register N. 504. To obtain […]

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Chilean Mining Company to Start Exploration in Ecuador

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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Ecuador: New Electricity Rates Begin in August 2011

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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Otavalo, Ecuador: 10,000 Tourists Arrive in July

According to ElNorte.ec tourism in Otavalo has increase significantly in the month of July, where authorities say about 10,000 tourists have made their way to the Plaza de Ponchos and other popular tourist sites in Otavalo. Officials say in previous years the tourist season picked up in August, but this year July seems to have […]

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Ecuador: 10,000 Bureaucrats Want To Use Forced Retirement Decree For Benefits

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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Puno, Peru: Businesses Ask for Economic State of Emergency, Wake of Mining Protests

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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Ecuador’s Vice-Minister of Security, Criminal Background Checks for Permanent Visas

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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Ecuador: Correa, Media’s Offer of Conciliation ‘Way to Late’

According to ElComercio.com the media organization, El Universo presented a proposal to rectify an opinion article entitled, ‘No a las mentiras,’ or ‘No to lying,’ today Tuesday July 19th. However, El Universo’s proposal was ‘very late’ according to Correa and was not accepted says the President attorney, Alembert Vera. Correa is asking for $80 million […]

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Latin America needs different financial structure

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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Peru Receives $7.5 Billion From CAF for Infrastructure

ElComercio.pe reports that the Andean Development Corporation (CAF) has made $7.5 billion available to Peru for infrastructure projects and services, after its president, Enrique Garcia meet with Peruvian President-Elect Ollanta Humala in Caracas, Venezuela today, July 15th. Garcia says the amount will be made available over a five-year period and that CAF will provide specific […]

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Mexico: Bank of America Ends Involvement with Santander

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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Mexico: Posadas Group Faces Another Fraud Lawsuit

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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Ecuador: Sanctions for Banana Exporters, Still Do Not Pay Official Price

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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Quito, Ecuador: Municipality Signs Agreement to Eliminate Aboveground Electric Wires

According to ElTelegrafo.com.ec the Electric Company of Quito and the Municipality government have signed an agreement for the development of the Program of Unemployment and Restructuring of Electricity Wires in public spaces. Officials say the project will provide more reliability and security to Ecuadorian citizens through the change of electricity distribution from aboveground wires to […]

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Ecuador Gives Citizens 9 Months to Register Cell Phones

According to ElComercio.com Ecuador is fulfilling its promise to increase security measures for mobile phone users and decrease the rate of cell phone theft. The Minister of Telecommunications, Jaime Guerrero announced today, Thursday July 7th that the government issued a registration deadline for cell phone customers nine months from July 5, 2011. Guerrero announces that […]

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Ecuador’s Petroecuador Delays Negotiation of Oil Fields

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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IRS Closed Marriott Hotel in Quito, Ecuador

ElComercio.com reports that the Ecuadorian IRS has closed the Marriot Hotel in Quito since hotel officials did not provide information required by the IRS. Officials say that closure signs will be present for seven days. However, since the incident involves a hotel the IRS will respect the guests that are residing in the building. Officials […]

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Quito, Ecuador: Teleferico Complex Left With 7 Businesses, Had 80

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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Ecuador Signs Agreement, 130 Million Barrels of Oil to China

According to Hoy.com.ec the state owned Petroecuador has signed an agreement with China to sell 130 million barrels of petroleum to Chinese state oil company, Petrochina, within a period of six years. Marco Calvopiña, the president of Ecuadorian Petroleum says that he hopes Ecuador can deliver 60,000 barrels per day to complete the contract in […]

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China and Ecuador Close Deal for Finance of Hydroelectric Plant

ElComercio.com reports that Ecuador’s Minister of Finance has completed final negotiations with the Eximbank of China for the credit of $571 million to finance the Sopladora hydroelectric project. Reportedly, the loan has an interest rate of 6.35% for a 15-year term with four years grace period. Chinese funding will be 85% of the entire project, […]

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Ecuador: Six Oil Fields Open for Bidding

According to Hoy.com.ec six blocks of oil fields in Armadillo, Chanangue, Charapa, Eno-Ron, Ocano and Singue, located in the Amazon region, are open for bidding contacts, states the Ministry of Non-Renewable Resources. The bidding process is open until August says the Ministry. Interested companies will have to pay a registration cost, $10,000 and will be […]

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Mazda to open new car plant in Mexico

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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How Latin America Should Promote a Relationship with China

•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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Mexico: Unrest changes how goods are sold to the United States

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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Six-star hotel to be built in Puerto Madero, Argentina

The Department of National Tourism confirmed that construction will begin on June 1 for the first 6-star hotel in South America. The luxury hotel will be part of the Mansions of the World chain owned by the investment group Vedanta, who predicts the project will cost close to $75 million. According to tiempo.elargentino.com, the hotel […]

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Argentine executives spend big bucks to armor cars

Executives pay 50% more than the price of a car to have it armored, according to cronista.com. After buying a $20 thousand car they spend $30 thousand to have it protected. The Volkswagen Bora is the most commonly armored car in the country because it is one of the most inconspicuous. Because of the dangerous […]

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Colombia: One of the Business Centers of Google in Latin America

The growth of the Internet in Colombia has proved favorable to Google which judges it to be a good base for operation in the Caribbean and South America. Currently with 11 members, Google Colombia plans to expand its staff to 22 by December. In an official presentation yesterday, the current director, Laura Camacho, comments that […]

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