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Latin America Business News

Mexican Economy Expected to Grow 3.3% in 2013, Slightly Down from 2012

Mexican Economy Expected to Grow 3.3% in 2013, Slightly Down from 2012

Mexico's economy, which will grow 3.8 percent this year, will see growth slow to 3.3 percent in 2013 due to weakness in some of its main trade partners before rebounding and growing 3.6 percent in 2014 continue reading »

PEMEX Finds 500 Million Barrels of Crude Oil, Largest Discovery in a Decade

PEMEX Finds 500 Million Barrels of Crude Oil, Largest Discovery in a Decade

State-owned oil giant Petroleos Mexicanos, or Pemex, said it found reserves of up to 500 million barrels of crude in southern Mexico, a discovery that President Felipe Calderon hailed as the "biggest find" of petroleum on land in the past decade. continue reading »

Formal Invitation Offered to Bolivia to Join Mercosur Trade Pact

Formal Invitation Offered to Bolivia to Join Mercosur Trade Pact

Bolivia has been formally invited to join as a full member the largest trading bloc in Latin America, Mercosur. continue reading »

Colombia Expects $2.6 Billion Investment From 49 Oil Blocks

Colombia Expects $2.6 Billion Investment From 49 Oil Blocks

Colombia's National Hydrocarbons Agency, or ANH, has awarded 49 oil exploration and production blocks in an auction and said it expects the winning bidders to invest some $2.6 billion over the next six years. continue reading »

Brazilian Insurance Group Acquires Portuguese Hospitals

Brazilian Insurance Group Acquires Portuguese Hospitals

Amil Participacoes SA, Brazil's largest health insurer, has announced the acquisition of Hospitais Privados de Portugal, or HPP, for 85.6 million euros ($109.7 million). continue reading »

IBM Partners with Brazil’s Richest Man to Build Semiconductor Factory

IBM Partners with Brazil’s Richest Man to Build Semiconductor Factory

Brazilian authorities announced Monday the construction of a semiconductor factory costing 1 billion reais ($500 million) that will have among its partners IBM and Eike Batista, Brazil's richest man. continue reading »

Could Bimbo Save the Twinkie?

Could Bimbo Save the Twinkie?

Mexican company Grupo Bimbo may be the key to saving the Twinkie from its untimely death. Earlier this month, 6,600 Hostess employees went on strike continue reading »

Spain’s King Juan Carlos Urges Brazil to Invest in Spain

Spain’s King Juan Carlos Urges Brazil to Invest in Spain

Boasting "one of the most open economies in the world," Spain is an ideal place for Brazilian firms to invest, King Juan Carlos said here Monday as he hosted a luncheon for Brazil's president continue reading »

IDB to Support Medium-size Companies in Latin America

IDB to Support Medium-size Companies in Latin America

The President of the Inter-American Development Bank (IDB), Luis Alberto Moreno, announced that the Bank will provide financing and technical advice to medium-size enterprises in Latin America and the Caribbean seeking to establish or expand international operations. continue reading »

Oil Firm Plans to Invest $3 Billion in Southern Argentina

Oil Firm Plans to Invest $3 Billion in Southern Argentina

Argentine oil company YPF, under state control after a 51 percent stake was expropriated from Spain's Repsol, said it plans to invest $3.1 billion over the next five years in the southern province of Santa Cruz. continue reading »