EXCLUSIVE China trade is Latin America balancing act
Latin Business Chronicle Index shows Beijing's exports grow more than region's
Total trade between China and Latin America was up 8 percent this year to $255.5 billion, finds the latest edition of Latin Business Chronicle's Index of China-Latin America Trade. Chinese exports to the region grew 10.7 percent to $131 billion, while imports from the region were up 5.3 percent to $124.4 billion.
Bolivia law backs Morales as candidate for third term as president
Highest court rules controversial exception to Constitutional limit on two administrations
Bolivia has passed a controversial law which paves the way for President Evo Morales to be elected for a third time. The Bolivian constitution states that presidents can only serve two terms. But Bolivia's highest court ruled last month that, because the constitution was changed during Morales' first four years, that term did not count, the BBC reports.
Telefónica puts $7 billion IPO on hold
Offering could be ready soon if need arose, says chief
Spanish telecoms group Telefónica has put on hold plans to publicly list its Latin America unit, but a $7 billion IPO could be ready within a few months if the need arose. Santiago Fernández Valbuena (left), head of Telefónica in Latin America, also told Reuters that telecom reforms in Mexico had leveled the playing field in a market long dominated by Carlos Slim.
A promising path for Internet start-ups in Brazil despite stumbles
Some blame problems for the business environment and the costs of doing business
Brazil's Internet start-ups were once the darlings of emerging markets, attracting venture capitalists from around the world. But after two-plus years of growth, the sector is facing tougher times. The consensus among investors and entrepreneurs, however, is that the short term will be difficult, but long-term prospects remain highly favorable, the New York Times reports.
Carlos Slim stubs out his cigarette habit with Philip Morris sale
Tycoon in $700 million deal as part of constant review of corporate structure
Carlos Slim is always on the move: reviewing, restructuring and reinventing his companies. His latest action in this direction came with his industrial conglomerate, Grupo Carso, exiting its investment in Philip Morris México. Carso agreed to sell its remaining 20 per cent stake in the company for $700 million to Philip Morris International, the Financial Times reports.