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Latin America Business News

Bolivian Government Takes Over 4 Spanish-owned Firms

Bolivian Government Takes Over 4 Spanish-owned Firms

President Evo Morales announced Saturday the nationalization of four Bolivian units of Spanish utility Iberdrola, including the main electricity distributors in La Paz and Oruro provinces. continue reading »

Mexican Left Question Chinese-backed Commercial Project in Cancun

Mexican Left Question Chinese-backed Commercial Project in Cancun

Leftist lawmakers have joined forces with business leaders in demanding that officials not issue building permits for a vast Chinese-backed commercial project in the Mexican Caribbean resort city of Cancun. continue reading »

Latin America News: Brazilian Set for 3rd Nuclear Power Plant

Latin America News: Brazilian Set for 3rd Nuclear Power Plant

Brazilian state-owned utility Eletrobras said Thursday that it secured an additional 3.8 billion reais ($1.85 billion) in financing for its third nuclear-power plant, Angra 3. continue reading »

Argentina’s Rainy Season Could Affect Global Grain Prices

Argentina’s Rainy Season Could Affect Global Grain Prices

Christmas rainstorms in Argentina further delayed soy and corn planting, keeping markets guessing about whether the grains powerhouse can produce enough this season to help bring high-flying global food prices down to earth. continue reading »

Latin America News:  Regions Economy Performed Strongly in 2012 but Face Challenges

Latin America News:  Regions Economy Performed Strongly in 2012 but Face Challenges

The economies of Latin America and the Caribbean have performed strongly in the face of a challenging external environment, Inter-American Development Bank President Luis Alberto Moreno said, but the region needs to continue to pursue key reforms to ensure growth in the future. continue reading »

Spain’s Bankia Bank has Value of -$5.49 Billion

Spain’s Bankia Bank has Value of -$5.49 Billion

Bankia, which was nationalized in May at its own request, has a negative value of 4.148 billion euros ($5.49 billion), Spain's state-backed FROB bank restructuring fund said Wednesday. continue reading »

Spain’s Luxury Goods and Services Sector Up 15 Percent from 2011

Spain’s Luxury Goods and Services Sector Up 15 Percent from 2011

Spanish firms offering luxury goods and services will end the year with total sales of 4.79 billion euros ($6.3 billion), up 15 percent over 2011. continue reading »

Mexico Sets Oil Price at $86 per Barrel in 2013

Mexico Sets Oil Price at $86 per Barrel in 2013

The government has purchased options to cover crude exports at a price of $86 per barrel and ensure it meets the targets set in the Revenue Law, the Mexican Finance Secretariat said. continue reading »

Mexico’s Unemployment Rate Climbs to 5.12 Percent, Majority Working in Service Sector

Mexico’s Unemployment Rate Climbs to 5.12 Percent, Majority Working in Service Sector

Mexico's unemployment rate stood at 5.12 percent in November, up from 4.97 percent in the same month of 2011, the National Institute of Statistics and Geography, or INEGI, said Friday. continue reading »

Pacific Rubiales Reaches Daily Production Goal of 280,000 Barrels in Colombia

Pacific Rubiales Reaches Daily Production Goal of 280,000 Barrels in Colombia

Canadian oil company Pacific Rubiales Energy said Wednesday it has reached its 2012 production target of 280,000-285,000 barrels of crude per day in Colombia despite licensing delays. continue reading »