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Latin America Business News

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PARAGUAY:  King of Used Cars

PARAGUAY:  King of Used Cars

Paraguay has become the main destination in South America for used cars from Japan, the United States and other countries, thanks to new regulations aimed at making it easier to import automobiles so low-income consumers can purchase vehicles. continue reading »

JUST IN:  Latino Favorite Yahoo to Buy Tumblr in $1.1B Deal

JUST IN:  Latino Favorite Yahoo to Buy Tumblr in $1.1B Deal

Yahoo Board of Directors has just approved the acquisition of social media network Tumblr in a $1.1 Billion cash deal, according to the Wall Street Journal. continue reading »

Bill Gates Takes Back World’s Richest Person, Slim is Number 2

Bill Gates Takes Back World’s Richest Person, Slim is Number 2

Bill Gates has regained the title of the world's richest person, a position he lost in 2007 to Mexico's Carlos Slim due to fluctuations in the Microsoft mogul's stock market investments, according to Bloomberg's daily index. continue reading »

Yahoo de Mexico’s $2.3 Billion Fine Reduced to $172,500

Yahoo de Mexico’s $2.3 Billion Fine Reduced to $172,500

Yahoo and its Mexican affiliate Yahoo de Mexico are breathing a sigh a relief after a Mexican Appellate court reduced a breach of contract fine from $2.5 billion to an ‘economical’ $172,500. continue reading »

Brazil Oil, Natural Gas Auction Bids Exceed Expectations

Brazil Oil, Natural Gas Auction Bids Exceed Expectations

A two-day Brazilian oil and natural gas auction has received strong demand from companies based in Brazil, Colombia, Portugal, France, Britain and other countries, with bid prices far exceeding the regulator's expectations. continue reading »

Spanish Inflation Rate Falls to 1.4%, Lowest Since March 2010

Spanish Inflation Rate Falls to 1.4%, Lowest Since March 2010

A drop in electricity rates and fuel prices pushed Spain's year-on-year inflation rate down by one percentage point to 1.4 percent in April, the lowest level since March 2010, the National Statistics Institute, or INE, said Tuesday. continue reading »

Foreign Investment in Latin America Grows to Record Level of $173.36 Billion

Foreign Investment in Latin America Grows to Record Level of $173.36 Billion

Latin America and the Caribbean received in 2012 a record $173.36 billion in foreign direct investment, or FDI, up 6.7 percent from the year before, the U.N. Economic Commission for Latin America and the Caribbean said Tuesday. continue reading »

Mexico Gets Credit Upgrade by Fitch

Mexico Gets Credit Upgrade by Fitch

This week the credit rating firm, Fitch upgraded Mexico’s credit rating from BBB to BBB+. The one notch increase in the country’s sovereign credit rating was given in great part for Mexico’s new President Enrqiue Peña Nieto’s bank reform efforts. continue reading »

Chilean Mining Giant Codelco to Invest $27B Over Six Years

Chilean Mining Giant Codelco to Invest $27B Over Six Years

Chilean state-owned mining giant Codelco on Wednesday announced plans to invest nearly $27 billion over the next six years. CEO Thomas Keller said the investment program, continue reading »

Brazil Will Finance Upgrade of Cuban Airports

Brazil Will Finance Upgrade of Cuban Airports

Brazil will finance a project to expand and modernize Cuba's airports, state media on the Communist-ruled island said Tuesday. Brazil's development, industry and foreign trade minister, Fernando Pimentel, continue reading »

Small Business Loan Interest Rates Cut in Brazil

Small Business Loan Interest Rates Cut in Brazil

Brazilian President Dilma Rousseff announced here Monday a reduction in the interest rate on public loans for owners of small businesses from 8.0 percent to 5.0 percent. continue reading »

Anheuser-Busch InBev Present Offer for 50% Stake in Mexico’s Grupo Modelo

Anheuser-Busch InBev Present Offer for 50% Stake in Mexico’s Grupo Modelo

Anheuser-Busch InBev has launched a tender offer for the 50 percent stake it does not already own in Mexican brewer Grupo Modelo. In a filing with the Mexican stock exchange, Grupo Modelo continue reading »

March Sees 15% Drop in Remittances to Mexico

March Sees 15% Drop in Remittances to Mexico

Remittances sent by Mexicans living abroad fell 14.7 percent to $1.78 billion in March, compared to the same month in 2012, the Bank of Mexico said Thursday. continue reading »

Brazilian Oil Giant Petrobras Sells Stake in Gulf of Mexico Exploratory Blocks

Brazilian Oil Giant Petrobras Sells Stake in Gulf of Mexico Exploratory Blocks

Brazilian state-controlled oil giant Petrobras said it has sold its 20 percent stake in six exploratory blocks in the U.S. Gulf of Mexico. In a regulatory filing, Petrobras said it signed a sale and purchase agreement for the divestment continue reading »

World’s Largest Glassmaker, Mexico’s Vitro, Plans $146M Investment

World’s Largest Glassmaker, Mexico’s Vitro, Plans $146M Investment

Mexico's Vitro, one of the world's largest glassmakers, said it planned to invest 1.77 billion pesos ($146 million) in different projects this year. "The authorized amount represents an increase continue reading »