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Latin America Business News

Crack Down in Argentina on Black-Market Dollar

Raids by tax officials in downtown Buenos Aires and elsewhere in Argentina and a battery of measures by the new Central Bank leadership are being used in a crackdown on black-market dollar exchanges and sophisticated capital-flight mechanisms. continue reading »

China Vows to Help Latin America Build Pacific-Atlantic Railroad

Peruvian President Ollanta Humala, wrapped his visit to China on Wednesday, after securing Beijing's support for building a railroad that connects the Atlantic and Pacific oceans passing through Peruvian and Brazilian territory. continue reading »

REPORT:  Brazil’s Oil Giant Petrobras Over Paid for Contracts by Nearly $2 Billion

Excessive payments on contracts for refineries and other projects by Brazilian state-controlled oil giant Petrobras may have amounted to nearly 3 billion reais ($1.17 billion), the head of an office investigating the alleged irregularities said. continue reading »

Violent Crime Cost Brazil $100 Billion in 2013

Violent crime cost Brazil 258 billion reais (about $100 billion) in 2013, a figure equivalent to 5.4 percent of the country's GDP, according to the new Brazilian Public Safety Annual Report, in which it is stated that an average of six people died in police operations each day during the year. continue reading »

First Chinese Owned Bank Allowed to Open in Mexico

Industrial and Commercial Bank of China Ltd., the world's largest financial institution by total assets, said Saturday that Mexican authorities have approved its bank license application, official news agency Xinhua reported. continue reading »

REPORT:  Latin American’s Cost for Food on the Rise

The inflation of food prices in Latin America and the Caribbean rose 1.2 percent last September, 0.4 percent more than in August and one of the highest rates for any category in 2014, the United Nations Food and Agriculture Organization, or FAO, reported Monday. continue reading »

Remittances to Mexico Increase over 7% in First 9 Months of 2014

Remittances sent to Mexico by emigrants totaled $17.58 billion in the first nine months of 2014, up 7.2 percent compared to the same period last year, the Bank of Mexico said Monday. continue reading »

Argentine Tax Authorities Accuses Procter & Gamble of Fraud & Currency Manipulation

Argentine Tax Authorities Accuses Procter & Gamble of Fraud & Currency Manipulation

Argentina's Federal Public Income Administration, or AFIP, said Sunday that it had suspended the activities and filed charges against Procter & Gamble for alleged tax fraud and currency diversion. continue reading »

STUDY: 78 Percent of Latin American Millennials Own Smartphones

STUDY: 78 Percent of Latin American Millennials Own Smartphones

Seventy-eight percent of Latin Americans "millennials" - people between the ages of 18 and 30 - own a smartphone, according to the results of the Telefonica Global Millennial Survey 2014, released here Friday. continue reading »

Hedgefund Billionaire Kenneth Dart Goes after Argentina Over Defaulted Debt

Hedgefund Billionaire Kenneth Dart Goes after Argentina Over Defaulted Debt

EM Ltd., a hedge fund controlled by billionaire Kenneth Dart, has filed a new complaint here against Argentina in its long-standing struggle for payment on defaulted debt, arguing that it should receive the same treatment as other holdout bond holders that won a 2012 court judgment in the United States. continue reading »