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Tag Results for "Latin American Business News"

Auto Dealers in Mexico Lower Sales Expectations

Dealers are cutting their sales forecasts for this year from 1.07 million vehicles to between 1.06 million and 1.05 million units due to the uncertainty created by the tax reform package being debated continue reading »

New Fuel Pricing for Brazil’s Petrobras

Brazilian state-controlled oil giant Petrobras said it planned to adopt a new fuel-pricing system this year that would feature automatic adjustments, allowing the company to produce better fi continue reading »

Puerto Rico-Based Craft Brewery Looking to Expand

Puerto Rico's Old Harbor Brewery wants to conquer the global craft beer market, a sector that is growing rapidly. The brewing company wants to introduce its beers in all t continue reading »

Brazil’s Economic Growth Forecast Revised Upward to 2.4 Percent

Financial analysts have revised their 2013 growth forecasts for the Brazilian economy upward to 2.4 percent from the 2.35 percent estimate released last week, the Central Bank said Monday. continue reading »

Oil Giant Pemex Posts $12.15 Billion Trade Surplus for First Half of 2013

Mexican state oil monopoly Petroleos Mexicanos posted a $12.15 billion trade surplus for the first seven months of 2013, the company said Wednesday. Exports of crude oil, petroleum products, petrochemicals and natural gas continue reading »

Foreign Tourists Spent 6% More in Spain Than They Did in 2012

Foreign tourists who visited Spain in the first seven months of 2013 spent 32.21 billion euros ($43 billion), 6 percent more than in the same period of 2012, the government said Tuesday. continue reading »

Mexico’s State-Owned Oil Giant Pemex Fined $50 Million

Mexico's Federal Competition Commission, or CFC, said it imposed a fine of 653.2 million pesos (about $50 million) on state-owned oil giant Petroleos Mexicanos, or Pemex, for forcing service stations to hire the oil monopoly's trucks to handle deliveries of gasoline and diesel. continue reading »

Telecom Mogul Carlos Slim Backs Telefonica, KPN German Deal

Mexico-based America Movil, the largest shareholder in Dutch telecommunications firm Royal KPN NV, supports Telefonica's agreed bid for KPN's German mobile unit, the Spanish giant said Monday. continue reading »

BRAZIL: Analysts Stick to Early Prediction for Country’s Growth, 2.21%

Financial analysts are keeping their 2013 growth forecasts for the Brazilian economy at 2.21 percent, the same level as last week, the Central Bank said Monday. continue reading »

Spain Unemployment Down .9%, Biggest Drop in 5 Years

The number of unemployed people in Spain dropped by 225,200 to 5.97 million in the second quarter, pushing the unemployment rate down by 0.9 percent to 26.26 percent, the government said in a report Thursday. continue reading »

Arab Automotive Group to Build Plant in Brazil

Amsia Motors, an automotive group financed by Arab investors, signed a protocol of intentions Thursday with the government of the northeastern Brazilian state of Sergipe, pledging to invest 1 billion reais ($450 million) to build an auto plant. continue reading »

Mexico Sees 6.6% Rise in Foreign Tourist Revenue in First Quarter of 2013

Foreign exchange revenues from international tourists rose 6.6 percent in the January-April period, compared to the first four months of 2012, the Mexican Tourism Secretariat said. continue reading »

Nissan Set to Begin Selling Mexican-Made Car, the Note

Japanese automaker Nissan said it would begin selling its Note model, which is being made in Mexico, in the middle of this month, targeting the U.S. and Canadian markets. continue reading »

Grupo Gigante Buys Remaining Stake in Office Depot de Mexico

Mexican diversified retailer Grupo Gigante said Tuesday it was acquiring the 50 percent of Office Depot de Mexico it did not already own for 8.77 billion pesos ($689 million). continue reading »

Brazil Sees .6% Economy Growth in 2013 1st Quarter

Brazil's economy grew 0.60 percent in the first quarter of 2013, compared with the final quarter of last year, the government said Wednesday. The figures confirmed official projections that the economy would continue reading »

Telecom Industry in Mexico Grows 12.5% in 2013’s 1st Quarter

Mexico's telecommunications industry grew 12.5 percent in the first quarter of 2013, compared to the same period last year, thanks to surging demand for satellite television continue reading »

BRAZIL: Media Mogul Roberto Civita Dies at 76

Roberto Civita, chief of the Brazilian media conglomerate Abril and creator of the prestigious newsweekly Veja, has died, his company said Monday. He was 76. continue reading »

CHILE: Gold Mining Company Fined $16.5M for Environmental Violations

Chile's SMA environmental watchdog said Friday that it had imposed an 8-billion-peso (roughly $16.5-million) fine on Canada's Barrick Gold and ordered it to halt its Pascua-Lama mine project over environmental violations. continue reading »

PARAGUAY:  King of Used Cars

Paraguay has become the main destination in South America for used cars from Japan, the United States and other countries, thanks to new regulations aimed at making it easier to import automobiles so low-income consumers can purchase vehicles. continue reading »

Chilean Mining Giant Codelco to Invest $27B Over Six Years

Chilean state-owned mining giant Codelco on Wednesday announced plans to invest nearly $27 billion over the next six years. CEO Thomas Keller said the investment program, continue reading »