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Latin America Business News

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 »

Foreign Direct Investment in Latin America Drops Dramatically 1st Quarter, By $84 Bilion

Foreign Direct Investment in Latin America Drops Dramatically 1st Quarter, By $84 Bilion

Foreign direct investment inflows into the 13 Latin American and Caribbean countries with available data fell 23 percent in the first half of 2014 to $84.07 billion, the United Nations Economic Commission for Latin America and the Caribbean said Thursday. continue reading »

Google Launches New Web Domain ‘.soy’ for Latino Market

Google Launches New Web Domain ‘.soy’ for Latino Market

Google has launched a new Web domain - .soy - that is intended for members of the Hispanic community, touting it as the "place for Latinos online." continue reading »

Citigroup Exits Consumer Banking in 6 Latin American Countries

U.S. banking giant Citigroup said Tuesday it planned to exit the consumer banking business in 11 countries, including six nations in Latin America. continue reading »

Mexico’s Foreign Reserve Increase by $364 Million

Mexico’s Foreign Reserve Increase by $364 Million

Mexico's foreign reserves increased by $364 million last week to $190.83 billion, the Bank of Mexico said. continue reading »

Citigroup Uncovered $15 Million Fraud in It’s Mexico Banamex Division

Citigroup Uncovered $15 Million Fraud in It’s Mexico Banamex Division

Citigroup Inc. announced Tuesday that an independent probe found evidence of $15 million in fraud at the personal security unit belonging to Banamex, the U.S.-based financial giant's Mexican division. continue reading »

Aerospace Companies Heading to Quertaro, Mexico in Record Numbers

Six aerospace companies from Spain, the United States and Canada will begin operating in the coming months in the central Mexican state of Queretaro with an initial investment outlay of 400 million pesos ($28 million), Gov. Jose Calzada said. continue reading »

Theft of Fuel from Pipelines Continues to Plague PEMEX in Mexico

Theft of Fuel from Pipelines Continues to Plague PEMEX in Mexico

Security forces in the northeastern Mexican state of Tamaulipas have recovered more than 420,000 liters (110,960 gallons) of diesel stolen from state-owned oil company Petroleos Mexicanos' pipelines, authorities said. continue reading »

Financial Experts Urge U.S. to Normalize Relations with Cuba

Financial Experts Urge U.S. to Normalize Relations with Cuba

U.S. experts on Wednesday recommended that their government begin to normalize relations with Cuba, eliminating some of the main elements of the economic embargo Washington imposed in 1962. continue reading »

Banamex CEO Resigns After a Turbulent Year Wrought with Fraud

Banamex CEO Resigns After a Turbulent Year Wrought with Fraud

Javier Arrigunaga has resigned as chief executive officer of Grupo Financiero Banamex, Citigroup's Mexican unit, Banamex's chairman said. continue reading »