EXCLUSIVE $40 billion Nicaragua canal to span oceans
President Ortega aims to realize nation's dream with help from studies by Chinese company
Daniel Ortega, the Nicaraguan president, says his nation will achieve its long-held dream of linking the Pacific and Atlantic oceans by a shipping canal. Ortega claimed the $40 billion project will help alleviate poverty in Nicaragua. The canal is subject to feasibility studies by a Chinese company, Ortega said, Latin Business Chronicle reports.
Investors worry that the Dilma model is unraveling in Brazil
Concern over slow economic growth, excessive intervention and growth in public spending
The Lula model of the Brazilian economy championed by Dilma Rousseff's predecessor as president, generated fast growth by pumping up demand, but it stuttered to a halt in 2011. Investors had pinned hopes on the "Dilma model" - planned reform. But critics say the result so far has been slow economic growth, and excessive intervention, the Financial Times reports.
Hard times for a high flyer
Billionaire Batista sells one of his private jets
Eike Batista (right), the Brazilian billionaire whose wealth shrank more than $27 billion since early last year, put one of his private jets on sale as he divests assets. The Embraer Legacy 600 is listed for sale by aviation publication Controller. The plane's interior features antique nickel plating and taupe carpets, wicker-colored leather seats and cabinetry finished in satin. The asking price is not listed, Bloomberg reports.
Venezuelan opposition claims audio reveals Cuban meddling
Recording said to reveal top member of ruling party in strategy talks with Havana officer
Venezuela's opposition released an audio recording that it said contains a prominent member of the ruling party discussing political strategy with a Cuban intelligence officer. Venezuela's opposition has long accused Cuban leaders of wielding influence behind the scenes in guiding government decisions, the Associated Press reports.
Venezuela and Argentina economic troubles rock Mercosur
Dispute between Argentina's Fernández and Brazil's Rousseff shake trade group
Brazil's main financial newspaper Valor Econômico revealed that the recent summit between Presidents Cristina Fernández and Dilma Rousseff from Argentina and Brazil was far from polite and enlightening. On the contrary, there were "strong disagreements in the fields of trade and investment" shaking the foundations of Mercosur, MercoPress reports.