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Latin America Business News

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Latin America News: Brazil’s Petrobras Profit Decline 36 Percent

Latin America News: Brazil’s Petrobras Profit Decline 36 Percent

State-controlled oil giant Petrobras said it posted net income of 21.18 billion reais ($10.61 billion) in 2012, down 36 percent from the prior year. continue reading »

Argentina Freezing Supermarket Chains’ Prices for Two Months

Argentina Freezing Supermarket Chains’ Prices for Two Months

Argentina's major supermarket chains reached agreement with the government to freeze prices for two months, the head of the association representing the retail giants told Efe Monday. continue reading »

PEMEX Blast Likely Caused by Accumulation of Gas, No Trace of Explosives Found

PEMEX Blast Likely Caused by Accumulation of Gas, No Trace of Explosives Found

The explosion that killed 37 people and injured more than 100 others last week at the Petroleos Mexicanos, or Pemex, headquarters in Mexico City was caused by an accumulation of gas, officials said. continue reading »

Water Rates Expected to Rise by 40 Percent in Puerto Rico

An increase in water rates set to take effect this summer in Puerto Rico could be as much 40 percent, the president of state-owned utility AAA said Monday. continue reading »

Brazilian Mogul Antonio Ermirio de Moraes Relative and 4 Others Killed in Plane Crash

Brazilian Mogul Antonio Ermirio de Moraes Relative and 4 Others Killed in Plane Crash

Five people, including a grandnephew of businessman Antonio Ermirio de Moraes, were killed when a small plane crashed in Brazil's Sao Paulo state, emergency services officials said Monday. continue reading »

U.S. and Mexico Tomato Trade Wars Appear Over

U.S. and Mexico Tomato Trade Wars Appear Over

The United States and Mexico have reached an agreement in principle on terms for imports of Mexican tomatoes, preventing the trade war feared in the wake of Washington's decision last year to suspend a 1996 bilateral accord. continue reading »

Spanish Prime Minister Rajoy in Germany for 24th German-Spanish Summit

Spanish Prime Minister Rajoy in Germany for 24th German-Spanish Summit

German Chancellor Angela Merkel on Monday welcomed Spanish Prime Minister Mariano Rajoy to Berlin, where the two leaders are presiding over the 24th German-Spanish bilateral summit. continue reading »

Spanish Marketing Exec: U.S. Needs to Tap Into Soccer Market

Spanish Marketing Exec: U.S. Needs to Tap Into Soccer Market

Spanish-born marketing executive Vicente Navarro says U.S. companies need to tap into Hispanics' passion for soccer in their bid to reach out to that important consumer segment ahead of the 2014 FIFA World Cup Brazil and beyond. continue reading »

Death Toll in Mexico PEMEX Explosion Rises to 33

Death Toll in Mexico PEMEX Explosion Rises to 33

Thirty-three people died in a powerful explosion at the headquarters of state-owned oil monopoly Petroleos Mexicanos, the Mexican government said Friday. continue reading »

JUST IN:  Blast at PEMEX Headquarters Leaves 14 Dead and 100 Injured in Mexico

JUST IN:  Blast at PEMEX Headquarters Leaves 14 Dead and 100 Injured in Mexico

Mexican authorities are reporting a blast at the headquarters complex of state-owned Petroleos Mexicanos (PEMEX). The blast has killed 14 people and injured 100. Early reports say that some type of machinery exploded in the basement of an administration building. The explosion occurred near 4:00 p.m. local time. continue reading »

Puerto Rico Businesses Plan to Spend More on Social Media

Puerto Rico Businesses Plan to Spend More on Social Media

Puerto Rico's businesses plan to spend up to 10 percent of their advertising budgets on social media this year, focusing on social-networking giants Facebook and Twitter, a new report said. continue reading »

Latin America News:  Mexico’s Economy Grows 4 Percent in 2012

Latin America News:  Mexico’s Economy Grows 4 Percent in 2012

Mexico's gross domestic product grew around 4 percent in real terms in 2012 and 3.6 percent in the fourth quarter of the year, the Finance and Public Credit Secretariat said. continue reading »

Mexico Cracks Down on “Narco-Miners”

Mexico Cracks Down on “Narco-Miners”

Mexico’s Attorney General’s Office (Procuraduría General de la República, PGR) this month has frozen the finances of the Coahuila-based mining company Materiales Industrializados, an alleged narco-miner continue reading »

Justice Dept Sues to Block Anheuser-Busch Purchase of Mexico’s Grupo Modelo Beer

Justice Dept Sues to Block Anheuser-Busch Purchase of Mexico’s Grupo Modelo Beer

The Department of Justice filed a civil antitrust lawsuit today challenging Anheuser-Busch InBev’s (ABI) proposed acquisition of total ownership and control of Grupo Modelo. continue reading »

Mexican President Peña Nieto Says No To Privatizing PEMEX

Mexican President Peña Nieto Says No To Privatizing PEMEX

State-owned oil giant Petroleos Mexicanos, or Pemex, will not be privatized and the public should be wary of those who seek to "mislead or confuse" this issue, President Enrique Peña Nieto said. continue reading »