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Latin America Business News

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 »

Latin America News:  Brazil’s Petrobras Finds Oil Reserve in Colombia

Latin America News:  Brazil’s Petrobras Finds Oil Reserve in Colombia

State-controlled oil giant Petrobras said it found oil in a well in the upper basin of the Magdalena River in Colombia's Tolima province. continue reading »

Gap Announced PLan to Open First Store in Brazil

Gap Announced PLan to Open First Store in Brazil

Tuesday, Gap Inc. announced plans for the first stand-alone Gap stores in Brazil as part of the company’s continuing global expansion strategy. Gap Inc. signed an agreement with Tudo Bom Comércio Ltda. for the planned opening of the first stores in the fall of 2013. continue reading »