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Latin America Business News

Hispanic Business: MillerCoors Continue to Provide Resources

Hispanic Business: MillerCoors Continue to Provide Resources

MillerCoors continues to empower urban and multicultural communities by offering small businesses the unique opportunity to vie for $150,000 in business grants with its signature program, the MillerCoors Urban continue reading »

Mexico’s Peso Declines for a Fifth Straight Day Against U.S. Dollar

Mexico’s peso fell for a fifth straight day, dropping 0.4 percent to 12.9613 per U.S. dollar at 7:48 a.m. New York time, from 12.9084 yesterday. continue reading »

Televisa and Nextel to be New Telecommunication Provider in Mexico

In July, Televisa announced it would team up with Nextel Mexico to go into the mobile phone business and therefore submit a bid to provide mobile telecommunication services at Mexican airports. continue reading »

Callaway Golf to Move Operations to Mexico

Callaway Golf to Move Operations to Mexico

In a move expected to save Callaway $35 Million over 3 years, golf ball production will be moved to a new plant in Monterey Mexico. Callaway’s golf club manufacturing operations will also move to Mexico over the next 18 months. continue reading »

Venezuela’s State Oil Co. Posts 53% Drop in Earnings

Venezuela’s state oil company, Petroleos de Venezuela (PDVSA), posted a 53% decrease in its earnings due to lower crude prices, reduced production as mandated by the Organization of Petroleum Exporting Countries (OPEC) and reduced investment. The loss of $5.5billion in earnings occurred through last year. continue reading »

Nicaragua Amplía Proyecto de Energía Geotérmica

Préstamo de US$40 millones apoyará expansión del proyecto geotérmico San Jacinto-Tizate y aumentará capacidad de generación de electricidad. continue reading »

Vale SA makes offer for Paranapanema SA- 1.1 Billion

Vale SA makes offer for Paranapanema SA- 1.1 Billion

Brazil based Vale SA, the worlds largest iron-ore miner offered to buy Paranapanema SA for 1.1 Billion dollars. A move that would leave Vale SA, one of the world’s top producers of copper. continue reading »

Colombia’s State-Controlled Ecopetrol Announces 137% Earnings Increase

Ecopetrol, Colombian state-controlled oil company and the world 4th largest oil producer, announced net earnings increase of 137% for its second quarter of operations. continue reading »

New Regulations Limit Mexican Bank Fees and Commissions

Mexico’s central bank, Banxico, announced new policies on bank fees and commissions charged for banking transactions occurring in Mexico. The sweeping reform, due to take effect in early August, will curtail overdraft fees, minimum account balance fees and eliminate fees for late payments on loans and fees charged for not using a credit card. continue reading »

Brazil Hikes Key Rate 50 basis points to 10.75%

Brazil's central bank late Wednesday raised its key interest rate to 10.75% from 10.25%, falling short of analysts' expectations. The Brazilian Central Bank in a statement cited a softening risk of inflationary pressures as the motivation behind the rate hike. Analysts had widely expected the central bank to raise the key Selic rate by 75 basis points, to 11%, but recent reductions in inflation figures and expectations prompted market players to price in the possibility of a rate hike of 50 basis points. The central bank had raised the key rate by 75 basis points in May and again in June. continue reading »