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Latin America Business News

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Chile Revels in Its New Cutting Technology

Chile Revels in Its New Cutting Technology

In Latin American business news, Chile is reveling in its cutting-edge technology in the Atacama desert. The new $1.4 billion observatory contains the power of 3 million computers into one telescope. continue reading »

Santiago Seeks $500-$600 Million in Financing to Expand Mass Transit System

Santiago Seeks $500-$600 Million in Financing to Expand Mass Transit System

In Latin American business news, the city of Santiago, Chile may seek $500-$600 million to upgrade its mass transit system continue reading »

Slim May Fall to Number 2 on Forbes’ List of Billionaires

Slim May Fall to Number 2 on Forbes’ List of Billionaires

Mexican magnate Carlos Slim could lose his position as the world's wealthiest individual after proposed telecommunications legislation sent the share price of his America Movil phone company sharply lower, Forbes magazine reported. continue reading »

Brazilian Gov’t Offers Millions in Loans to Innovative Firms

Brazilian Gov’t Offers Millions in Loans to Innovative Firms

The Brazilian government announced it will offer 32.9 billion reais ($16.5 billion) in loans over the next two years to companies using technological innovation to improve their competitiveness. continue reading »

Spain’s Inditex Opened 121 Stores in China in Fiscal 2012

Spain’s Inditex Opened 121 Stores in China in Fiscal 2012

Inditex, owner of the Zara retail chain, said in a filing Wednesday with securities regulators that it opened 121 stores in China last year, making the Asian country its No. continue reading »

FactoryMade Ventures Forms Joint Venture With Lucha Libre AAA

FactoryMade Ventures Forms Joint Venture With Lucha Libre AAA

FactoryMade to Operate and Extend Wrestling League's IP in U.S. and International Territories Outside Mexico; Starlight Runner Entertainment to Lead Innovative Transmedia Development Initiative continue reading »

Spain Seeks Expansive Relationship with Brazil’s Defense Sector

Spain Seeks Expansive Relationship with Brazil’s Defense Sector

Spain wants to broaden the "intense" economic and political relationship it has with Brazil into the defense realm, the Iberian nation's defense minister told Efe here Tuesday. continue reading »

Latin America News:  Peru Inaugurates Two Solar Power Plants

Latin America News:  Peru Inaugurates Two Solar Power Plants

President Ollanta Humala has inaugurated two solar power plants in the southern Peruvian regions of Tacna and Moquegua built by Spain's Solar Pack and Gestamp Solar. continue reading »

Spanish Oil Company Steps Up Legal Action to Defend Interests in YPF

Spanish Oil Company Steps Up Legal Action to Defend Interests in YPF

The legal battle launched by Spanish oil company Repsol to defend its interests in YPF, which was nationalized by the Argentine government in 2012, has intensified with the filing of a lawsuit against Argentine petroleum firm Bridas. continue reading »

Banorte Buys Spain’s Bancomer Retirement Business for $1.7 Billion

Banorte Buys Spain’s Bancomer Retirement Business for $1.7 Billion

In Latin America business news Grupo Financiero Banorte has completed the $1.7 billion acquisition for the retirement business of Spain's Bancomer continue reading »

Baxter International to Cut 400 Jobs in Puerto Rico

Baxter International to Cut 400 Jobs in Puerto Rico

The Puerto Rico unit of Baxter International Inc. plans to eliminate 400 jobs at its pharmaceutical production facility in Aibonito, the town's mayor said Friday. continue reading »

US Unemployment Rate Drops to 7.7 Percent in February 2013

US Unemployment Rate Drops to 7.7 Percent in February 2013

The U.S. unemployment rate fell two-tenths of a percent in February to 7.7 percent, as 236,000 net jobs were created, the Labor Department said Friday. Economists had been expecting the creation of just 157,000 net continue reading »

Mexico Looking to Expand Tourism Markets

Mexico Looking to Expand Tourism Markets

Mexican officials said at ITB Berlin, the world's largest tourism fair, that their strategy was to expand tourist markets and increase spending by visitors. continue reading »

Tecate Leaves Mexican Ad Agency for U.S. – Better Translation Services Cited

Tecate Leaves Mexican Ad Agency for U.S. – Better Translation Services Cited

Mexican beer Tecate, distributed exclusively by Heineken USA, has announced it is leaving its Mexican ad agency for an American choice so that it can receive a better translated product. continue reading »

Mexico Gives $1.2 Billion Lifeline To Struggling Homebuilding Industry

Mexico Gives $1.2 Billion Lifeline To Struggling Homebuilding Industry

The Mexican government has announced that it will be cover up to 30% of bad bank loans taken out by homebuilders and guaranteeing up to 50% of loans taken out by “healthy” homebuilders, in essence throwing them a $1.2 billion lifeline. continue reading »