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Latin America Business News

Latin America News: Brazil’s Petrobras to Buy $500M in GE Equipment

Latin America News: Brazil’s Petrobras to Buy $500M in GE Equipment

GE Oil & Gas, a unit of U.S. conglomerate General Electric Co., said Tuesday it won a $500 million contract to provide Brazilian state-controlled oil giant Petrobras with turbomachinery equipment and services for deepwater oil production. continue reading »

Japan’s Kirin Beer Expected to Expand Its Presence in Brazil

Japan’s Kirin Beer Expected to Expand Its Presence in Brazil

The Brazilian unit of Japan's Kirin wants to increase its market share in this South American country via organic growth of its brands, such as Devassa beer, company executives said. continue reading »

Latin America News: Mexico Set to Buy Fertilizer from Ukraine

Latin America News: Mexico Set to Buy Fertilizer from Ukraine

Negotiations are taking place for Mexico to "purchase up to 500,000 tons annually" of fertilizer from Ukraine, the National Peasants Confederation, or CNC, said. continue reading »

Property Taxes on ‘Luxury’ Homes in Costa Rica Increase 10-Fold

Property Taxes on ‘Luxury’ Homes in Costa Rica Increase 10-Fold

The Ministry of Hacienda Tax in Costa Rica has readjusted the property values of ‘luxury’ homes therefore increasing real estate taxes ten-fold. continue reading »

Brazilian Government OKs Power Line Run by Spanish Firm

Brazilian Government OKs Power Line Run by Spanish Firm

Brazil's environmental protection agency said it has granted Spanish company Isolux Energia a license to operate a power transmission line between the southeastern states of Sao Paulo and Rio de Janeiro. continue reading »

Mexico Continues Bribery Investigation of Walmart

Mexico Continues Bribery Investigation of Walmart

The Mexican unit of U.S.-based retail giant Wal-Mart Stores Inc. said in a statement that it has provided information regarding the corruption allegations it faces and reiterated its pledge to continue cooperating with Mexican authorities. continue reading »

Spanish PM Rajoy Announces Spanish-Algerian Business Summit for March

Spanish PM Rajoy Announces Spanish-Algerian Business Summit for March

Spanish Prime Minister Mariano Rajoy announced Thursday that business leaders from his country and Algeria will gather here in March for a summit to explore investment opportunities. continue reading »

Mexico’s Auto Production up 12.8% in 2012

Mexico’s Auto Production up 12.8% in 2012

Mexico's production of motor vehicles grew 12.8 percent last year to a record 2.88 million units as exports increased 9.9 percent to 2.35 million, also a new high, the AMIA industry association said Thursday. The strength of the export sector compensated for slow sales at home, AMIA said. continue reading »

$210M Increase in Small Business Lending at Illinois Institutions Receiving Capital through SBLF

$210M Increase in Small Business Lending at Illinois Institutions Receiving Capital through SBLF

The U.S. Department of the Treasury yesterday released a new report showing that Illinois institutions receiving capital through the Small Business Lending Fund (SBLF) c continue reading »

Spain’s Repsol Begins Oil Production at “Megafield” in Brazil

Spain’s Repsol Begins Oil Production at “Megafield” in Brazil

Spanish oil major Repsol has begun commercial production at the pre-salt Sapinhoa "megafield" after connecting a producing well to an FPSO with the capacity to extract 120,000 barrels of oil per day. continue reading »