iProfesional.com says the success of the iPad in 2010 has gained popularity for tablet computers, just being introduced into Argentina this year. Tablets are mobile forms of technology that benefit customer relations and interoffice relations. Cisco Systems met with companies in Argentina this week to demonstrate a new tablet computer product, Cius, based on the […]
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Daimler AG was ordered on Wednesday to face a U.S. lawsuit alleging it participated in the kidnapping, torture and death of Mercedes-Benz workers in Argentina’s “Dirty War” three decades ago. Read Article
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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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•Eltiempo.com reports that on October 1st, a new system will be put in place to guarantee subscribers’ rights from service providers in order to promote the spread of internet usage in Colombia. •This system is explained in clear, simple language according to Cristhian Lizcano, executive director of the Commission of Regulation of Communications. •The system […]
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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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•According to elespectador.com, Venezuela is carrying out its promise to keep sending fuel to Colombia despite the increased length of the transport (up to 122 extra kilometers) due to the heavy rains. •On April 2, Venezuela sent 15.2 million liters of fuel to Cúcuta, in the department Norte de Santander, Colombia. •Rafael Ramírez, minister of […]
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(Guardian (UK) Via Acquire Media NewsEdge) It was reported in the last week that China’s sovereign wealth fund is about to receive new capital from the government, adding billions of dollars annually to its already impressive wallet. As China’s economic power continues to grow and countries around the world compete for Chinese investment, the question […]
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Make the leap from traditional analog TV to digital mean for Costa Rican households about $ 272 million in the next six years. + MULTIMEDIA RELATED NEWS Country will use TLC to bring ‘tele’ flights This amount includes the purchase of new screens, and the decoder, a device that allows the user to receive the […]
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The U.S. Justice Departments is reportedly working on a case against HSBC bankers they say have laundered money from Mexican drug gangs. Still at the beginning of the investigation, the Justice Department is building its case against the bank. The investigation began in August of 2010, when the Office of the Comptroller of the Currency […]
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Smuggling corridor for Indians attempting to enter the US illegally, according to a Fox News Latino report published earlier this week. In the past three years, the number of Indians legally entering Guatemala through immigration checkpoints has surged dramatically. In 2008, only 304 Indians entered the country legally. By 2010, that number surged to 4,966—out […]
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X-ray machines at checkpoints in southern Mexico are capturing the ghostly outlines of a clandestine business worth billions a year, people packed tighter than cattle and transported like consumer goods in tractor trailers to the United States. Read Article
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Petaquilla Minerals Ltd. (the “Company”) today announced the planned expansion of its production system at its Molejon gold mine facility, located in Panama, by increasing grinding and processing capacity in addition to its on-going construction of a heap leach operation. The new production improvements, when fully implemented, are expected to generate an additional monthly recovery […]
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Inmet Mining Corporation (“Inmet”) (TSX: IMN) announced today that Ellington Investments Pte. Ltd. (“Ellington”), an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited, has exchanged $500 million previously issued subscription receipts for 7,779,692 Inmet common shares. As a result of the exchange, the number of Inmet’s issued and outstanding common shares has increased to 69,328,864 […]
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Archer Daniels Midland Co. is building a new port terminal in Uruguay to export corn, soybeans, wheat and soybean meal from South America to markets in Europe and elsewhere. The new port is to be located at Nueva Palmira. Exports will be to Asia, Latin America, Africa, and Europe. Read Article
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•The second such attack on this kind of helicopter in the area, it resulted in the death of a police officer, 2 injured civilians and the theft of an unspecified millionaire sum according to elpais.com.co. •Authorities did not reveal the exact amount, but the shipment is known to be a consignment of money of businessmen. […]
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•This number was recorded by the Superintendencia de Industria y Comercio for the first trimester of 2011 per radiocaracol.com.co which reports that there are more cellphones than people in Colombia. •There has been an increase of 694, 458 subscriptions to cellphone companies from the fourth trimester of 2010 to the first trimester of 2011. •Complaints […]
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•The new 4,000 square meter Hub & Gateway will ensure the timely arrival and departure of imports and exports per businesscol.com. •This will require an investment of 1.3 million euros and create 30 direct jobs and 60 indirect jobs. •The company currently is employing 550 Colombians. •According to Steven Fenwick, CEO of DHL Express Americas, […]
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•An employee of the hotel told latinamericancurrentevents.com that the winter has caused unfavorable conditions for the hotel. •According to elcolombiano.com, the hotel has been looking to cut costs and proposed a liquidation for the employees for a rate of 50%. •When asked about the liquidation of the workers, the employee stated that this was not […]
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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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18 months after he fled Venezuela to avoid criminal prosecution for what authorities claim were $27 million dollars in illegal currency transactions, a U.S. court granted political asylum to fugitive Venezuelan banker Eligio Cedeño. Read Article
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•50,000 procedures of aesthetic surgery are carried out 14,000 of which are performed on foreigners. •This is due to the high quality of Colombian healthcare which in relation to places such as the U.S. or Europe can cost 7 times less. •“Medical tourism” in Cali could prove to provide substantial income as people from countries […]
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Costa Rica already has 116 megawatts of wind power in the five existing wind farms, and there are several ongoing projects. A group of Italian investors led by Valerio Catullo plans to produce wind power for the first time taking advantage of wind currents in Cañas, Guanacaste. Read Article
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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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The formal business of the country has lost 75 billion dollars a year due to the piracy and smuggling, estimated the president of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco-SERVYTUR) , Jorge Dávila Flores. Said at a news conference that the figure is “stratospheric” if a comparison is made with captured […]
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Eurocopter expands its influence in Latin America to open in Panama this past May 12, a maintenance center for Central America. Eurocopter, the world’s leading helicopter manufacturer and faithful to its goal of increasing and improving the provision of services to its customers, develops its network of service centers in the Central American market, through […]
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Aernnova Aerospace company has hired the engineering and architectural work Lantec for technical assistance prior to the construction of a new factory in the Mexican city of Queretaro. These facilities will be dedicated to the production of composites. Read Article
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The Israeli company Rafael exhibited during the show Peruvian SITDEF 2011, and other advanced systems, weapons station RCWS Samson on armored combat car ASPRO Armor Protection System. Read Article
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Avoiding the costs of traditional microcredit models, remote communities in the La Puna high plateau region in northwest Argentina have launched a successful loan programme that enables them to meet extraordinary expenses such as weaving material, school supplies or medicine. Read Article
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Peru’s textiles and apparel industry is poised for strong gains in 2011, driven by strong consumption and buoyant exports, according to Jose Luis Peroni, president of the apparel committee of Peru’s leading textiles association Acotex. Read Article
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The Verified Carbon Standard (VCS) and Chilean nonprofit Fundación Chile will jointly open a new VCS office in Santiago to speed the carbon offset certification process in Latin America and to support Fundación Chile’s new Santiago Climate Exchange (SCX), under terms agreed to in a memorandum of understanding (MOU) signed on May 10. Read Article
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The global skills shortage is worsening, with more than one-third of companies reporting difficulties filling positions because of a lack of talent – the highest level in four years, according to a survey by ManpowerGroup, the recruitment company. Read Article
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The head of a Bolivian energy company said he might sign a deal that would allow Russian gas company Gazprom to explore for hydrocarbons in the country. Read Article
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Mexican telecom giant, America Movil (AMX – Analyst Report) reported it will invest $1 billion in 2011 toward telecommunication services in Argentina. The investments will be primarily dedicated toward developing cellular, broad brand and fourth generation (4G) mobile services. Read Article
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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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In 2001, when Chevron acquired Texaco, the company inherited an environmental and human rights disaster in Ecuador. According to a lawsuit originally filed in 1993, Texaco dumped billions of gallons of waste byproduct from oil drilling in the rainforest, and burned hundreds of millions of cubic feet of gas and waste oil into the atmosphere. […]
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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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•The National Federation of Coffee Growers is planning to fumigate 62,000 hectares of crops in order to save them from the disease that lost 1 million sacks of coffee last year, per elespectador.com. •$6.4 million pesos will be required for the program $5.7 billion of which coming from the National Fund for Calamities. •Luis Genaro […]
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The March earthquake off the coast of Japan sparked a tsunami alert for the length of the Chilean coast. The warning was lifted 24 hours later after just a few small waves. Things were different at Tongoy, about 450km north of Santiago. “What was supposed to be just a ripple was actually a powerful underwater […]
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A design team of China Communications Construction Company and Louis Berger Group put in the lowest of six bids for a new bridge on the Atlantic side of the Panama Canal. Its bid of US$4.6 million is less than half that of the highest bidder. Read Article
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Deep in the Chiquitana tropical dry forest in southeast Bolivia, Noine Picanerai stands on a dirt road that cuts through lush woods. The 50,000-acre plot looks like a protected reserve. But, notes Picanerai, a woodsman in his 70s, “My people live off selling these trees.” Indeed, despite the forest’s pristine appearance, it’s a logging concession […]
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•As part of a campaign to search Caño Sur in los Llanos Orientales, the state oil company, Ecopetrol, discovered exploratory well A-3 according to elespectador.com. •Two other such wells have been discovered in 2010. •The production test predicted that the wells will produce 225 barrels a day and a water and sediment cut off of […]
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A private company wants to install a liquid petroleum gas storage plant in the Punta de Manabique reserve on GUATEMALA CITY, May 17, 2011 (Tierramérica) – “If they come here to extract iron from the beach, it will mean the destruction of our natural wealth and the end of tourism,” warned Leonel Palma, a hotel […]
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They represent just seven percent of the workers building the Santo Antonio hydroelectric dam on the Madeira River, which cuts across the Amazon jungle in northwest Brazil. But the women workers total 1,200, and many of them have had to break down barriers to jobs seen as the preserve of men. Read Article
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Although there is still time, it is best to start saving up for a new digital television set as Costa Rica moves to “digital only” television on December 15, 2017. On that date, free television – signals picked up by antenna and rabbit ears – will only air digitally. Read Article
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Gold’s Gym will open three new locations in Curridabat, Escazú and Perez Zeledon, San Jose, within two years. Chains of Gold’s Gym, Multispan, 360 and George Angulo have jointly planned investments over $ 8 million for opening new stores in the country. Read Article
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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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Official confirmation has been given of Sumitomo Rubber’s plans for Brazil; in July the Japanese firm will establish Sumitomo Rubber do Brasil Ltda, a Panara state-based subsidiary responsible for manufacturing and selling tyres in Brazil. With an investment of some 560 million real (£211 million), Sumitomo Rubber do Brasil will erect a factory to produce […]
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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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Cuba has given all small businesses the authority to hire (and fire) labour and will loosen other regulations governing private enterprise as part of the broader measures to reform the island’s economy and boost production, the government said in a statement. Read Article
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A group of experts warns that electricity is not only delayed the plan of investments in generation, transmission and distribution, but also the measures taken by the Government in 2010 as part of emergency decree aggravated the situation of the sector to the point is more vulnerable today than a year ago. 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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The effects of time restrictions on the sale of alcoholic beverages and began to take its toll the liquor sector. The industrialists speak of a decline in sales volume of about 11% nationally. In liquor stores, however, argue that economic losses close to 30% and 40% of revenues. Since 18 June, the government banned the […]
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The new Brazilian president Dilma Rousseff has decided that in the case of large construction projects, especially infrastructure and hydroelectric sites in isolated regions of the country, there should be a greater presence of the government. Read Article
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Retail sales in Brazil advanced for an 11th-consecutive month in March as the festive mood of the Carnival holiday caused consumers to open their pocketbooks, but there are signs that spending could be easing. Retail sales in March climbed a seasonally adjusted 1.2% from February, the Brazilian Census Bureau, or IBGE, said Thursday. Read Article
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Walmart brand came to Escazu, Guadalupe, Cartago, Heredia Curridabat, with an investment that will be around $ 160 million offering to all customers “lower prices every day” and over 3,000 new products, which, will be introduced also in other business lines: Pali, Maxi Bodega y Más x Menos. Moreover, under the firm’s director for Central […]
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•The Colombian airline will offer 21 flights between Bogotá and the Panamá City this Friday. •The flights will be on Airbus – A-318 carrying 100 passengers with no stops. •This is part of the airline’s plan to expand routes and flight frequencies. (JR) Read Article
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• Rcnradio.com reports that thanks to a French loan of 250 million USD, construction of two aerial tramways will begin this November. • Mayor Alonso states that Ayacucho will be the first city in Colombia to have a large system of integrated transportation. • The Metro of Medellín will be handling construction which is expected […]
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The Chilean Federation of Fruit Producers (Fedefruta) will join with the Association of Exporters (Asoex) and nearly 50 other exportation and agricultural associations across Chile to present proposals to, and demand aid from, the government next Friday, May 20. They will convene in Requínoa, in Chile’s Bernardo O’Higgins Region. Read Article
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ACCIONA has won a contract from the CAP group to build and operate for 20 years a plant for the group’s mining operations in the Copiapo Valley (Atacama Region III). The plant will have an initial capacity of 200 liters per second (17 million liters a day) which could be stepped up to a maximum […]
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A complex multi-dam hydroelectric scheme that environmentalists say threatens a pristine area of fjords and valleys in Chile’s remote Patagonia country was approved May 9 by an 11-to-1 vote of the Aysén Environmental Review Commission, a body appointed by the central government to oversee the project, after a three-year assessment. The 2,750-megawatt HidroAysén project includes […]
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Prosecutors say one of Brazil’s largest steelmakers is polluting a major source of water in Rio de Janeiro with coal residues. The prosector’s office of Rio de Janeiro state says on its website that one of four landfills of the Companhia Siderurgica Nacional contains more than 500,000 tons of toxic residues that seep into the […]
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The so-called Highway to China is one of the first infrastructure projects in Brazil built on a scale to match anything in the Asian nation from which it takes its nickname. Officially known as the Açu Superport, the facility stretches into the sea off the coast of the state of Rio de Janeiro and is […]
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A bill being debated in Brazil’s Congress has sparked fierce clashes between environmentalists and supporters of farmers and ranchers over how to regulate the country’s vast but vulnerable wilderness. After 20 hours of debate, a vote on the controversial measure in the Chamber of Deputies was postponed Thursday until next week. The bill would then […]
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The Wildlife Conservation Society and other organizations released a new study recommending a disease screening program for farm-raised caiman in ranching facilities in Argentina to ensure the safety of people and wildlife alike. Read Article
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Winter Begins to Affect Colombian Coffee Harvests • Caracol.com.co reports that production has decreased 19% from April of last year due to the rainy season and “la roya*”. • Luis Genaro Muños, head of the National Federation of Coffee Growers (Fedcafé), called for better fertilization and protection against the disease. • The production in the […]
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London-based BP this week received approval from Brazil’s ANP energy regulator for its purchase of assets from US-based Devon, a deal signed in 2010, but put on hold following the massive Gulf of Mexico oil spill. 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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Colombian Group of Real Estate Scammers Rob Newlyweds • According to elpais.com.co , a newly married couple, Javier and Clara, fell victim to two scammers who presented themselves as relatives of the owner. • They paid 20 million pesos for a house only to find out about two months later that the two men were […]
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• Elpais.com.co reports that businessmen and guilds are asking the Colombian Government to dredge and deepen the access canal to 13.5 meters. • Rodrigo Velasco, head of Andi, said that the road infrastructure would have to improve to compensate for the lack of depth of the canal that hinders the entrance of cargo ships. • […]
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One of the most stark statements before the tribunal was presented by Sofia Scasserra, an economic advisor to the Argentine Federation of Commerce and Service Workers (FAECYS). According to Scasserra, Wal-Mart’s worst impact was not on wages — but on the nation’s supply chain — resulting in “a detrimental effect on the business middle class.” […]
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Argentina on Monday banned the import, sale and promotion of electronic cigarettes, saying there is no proof they help smokers kick the tobacco habit. Read Article
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Recently, the United States and Colombia signed a long-awaited free trade agreement that is expected to boost job growth in both countries. Yet another recent trade deal that received scant attention is perhaps far more important to American interests. Read Article
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China’s dragon breathed fire into Latin America in 2010, as trade between the two sides shot up by a spectacular 51.2 percent, to $178.6 billion, and memories of the economic recession melted away. Read Article
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Argentina has expelled agribusiness giant Bunge from a key government grains registry after a tax probe, a source at the AFIP tax agency spokesman said Tuesday. Bunge (BG.N), Louis Dreyfus, and Cargill [CARG.UL], among other grain exporters, were suspended from the registry by the tax agency for alleged tax evasion earlier this year. Read Article
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Argentine President Cristina Fernandez will announce a major shale oil discovery by the country’s largest oil and gas company, YPF SA YPF +4.47% , on Tuesday afternoon, according to the presidency’s press office. The announcement is scheduled for 3:30 p.m. EDT and could be the biggest oil find in nearly 20 years, the press office […]
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At the moment, bankers in Brazil are making more money than their peers in New York, according to a top Wall Street headhunter whom we caught up with last week. This makes some sense, as São Paulo finished six spots ahead of the Big Apple on a recent list of most-expensive cities, while Rio de […]
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Foxconn Technology Group will likely be manufacturing Apple iPads and iPhones in Brazil as early as July, according to the local Folha de São Paulo daily. Read Article
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Last year, foreigners seeking to buy large plots of land began running into legal roadblocks, after the attorney general’s office reinterpreted real estate law amid concern over property speculation by overseas investors. Read Article
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Whirlpool Corp. (WHR – Analyst Report) recently announced a 30% hike in its investments in Brazil for 2011. The company’s total investment in the Latin American country amounted to about $180 million last year. Rising material costs and maturation of the established markets remain the primary headwinds for the company. Read Article
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A security company led by the former head of operations for the Israeli military made such inroads into Latin America a few years ago that U.S. diplomats saw it as a security risk and moved to thwart the company’s expansion, U.S. diplomatic cables show. The diplomats’ efforts were made easier when an interpreter for the […]
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There is apprehension that Peru’s stellar economic performance of the last five years is about to hit turbulence as voters face what the country’s revered author Mario Vargas Llosa has called “a choice between terminal cancer and AIDS.” Read Article
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Netflix, the film and television subscription service, is working on a push into Latin America and is close to announcing deals with three of the continent’s biggest broadcasters to begin streaming programming online in Argentina, Brazil, Chile and Mexico. Read Article
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Chile’s kiwifruit industry is making inroads with Summerkiwi and Jintao varieties, while the South American country has also started ambitious planting of ENZARed kiwifruit to find new markets. In an industry historically focused on the Hayward variety, Chile is expected to plant around 200 hectares of ENZARed kiwifruit this year while other varieties have also […]
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Ananea District Municipality sponsored the 157th Anniversary District fair where the successful breeding of camelids (alpaca and llama) was celebrated as a major contributor to the local economy. As there are roughly 120,000 camelids in the region, the municipality shut down other markets during the fair (such as cattle) to focus on creating traditional camelid […]
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Nicaragua exported 134,783 metric tons of sugar during the first three months of 2011, up 29% from the same period last year, the country’s export center, Cetrex, said Tuesday. Read Article
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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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Centralization” has become a bad word in the Cuban lexicon lately, blamed by President Raul Castro as the source of the island’s enervating bureaucracy and economic stagnation. Read Article
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In the darkened theater, a mother rocked her baby while another breastfed her little girl. It’s part of a new trend in Brazil where moms go to the movies with baby bottles, diapers and toys. “Getting out of the house with a baby requires a certain amount of organization,” said Irene Nagashima as she placed […]
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In South and Central America, 11 countries have passed the 100% penetration milestone: Panama, Uruguay, Suriname, Argentina, Chile, El Salvador, Ecuador, Honduras. Read Article
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Striking workers at an Argentine silver-gold mine controlled by Hochschild Mining (HOCM.L: Quote) will go back to work on Wednesday after the government ordered compulsory conciliation, a union leader said on Tuesday. Read Article
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Mexico City – German President Christian Wulff called Monday for more investment by German firms in Mexico, during a visit that seeks to favour closer economic ties between the two countries. Read Article
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As a part of the move, the Northfield-based Kraft Foods (NYSE:KFT) will build a new $80 million manufacturing plant in Pernambuco, Brazil. Read Article
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The president and CEO of Walmart International, Doug McMillon, announced today, during his visit to Brazil, the company’s investment plans for 2011. There will be 80 new stores which will open with an investment of R$ 1.2 billion over the year. “Brazil is an extremely strategic market for Walmart. With the economic stability of the […]
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Warren Buffett’s search for deals in Brazil and China may put companies from Marcopolo SA to Odontoprev SA and Lonking Holdings Ltd. on his wish list. Read Article
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The banana, a plant which is threatened by the Black Sigatoka, will be extinguished within about ten years, if a genetically modified hybrid is not created to combat this fungus that endangers plantations worldwide, according to Emile Frison, researcher of the International Network for the Improvement of Banana and Plantain (INIBAP). Read Article
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Journalists in Ecuador are demanding that the administration of President Rafael Correa keep its hands off the press and respect freedom of expression. Read Article
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Experian has agreed to buy Colombian credit information provider Computec in a move that will expand the Dublin-based credit checking company’s foothold in Latin America. Read Article
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