EXCLUSIVE Argentina pushes controversial tax amnesty
Government hopes to recapture up to $200 billion in undeclared income
In a bid to slow the country’s outflow of dollars, Argentina’s Congress passed a controversial tax amnesty. That bill will pardon tax dodgers for undeclared income if they invest the money in the domestic real estate and oil and gas industries. But the amnesty could have an effect on the rule of law in the country, say experts, Latin Business Chronicle reports.
China shows interest in Mexico's plans to reopen energy sector
China needs oil to fuel its expanding economy and cars of its middle class, say experts
Chinese president Xi Jinping's three-day visit to Mexico this week comes as the Mexican government debates opening its highly regulated energy sector to more foreign investment. Xi said he plans to address Mexico’s large trade deficit with China and discuss ways to increase Mexican exports, The Washington Post reports.
Chile wants Canada's liquefied natural gas
Gas would be sent by ship as Canada rejects pipeline
Chile wants to buy Canadian liquefied natural gas for its energy-hungry mining industry, as it bolsters efforts to transform into a developed nation. “We want to transform Chile from an underdeveloped country to a developed country before the end of this decade,” said Chilean leader Sebastian Piñera, The Globe and Mail reports.
Money laundering in Colombia amounts to $17 billion every year
Figure is higher than the amount of foreign direct investment to the country in 2012
The amount of money laundered from the trafficking of drugs, arms and human beings in Colombia is estimated by experts to be as much as $17 billion a year. There are three main ways the criminals clean their money: smuggling undeclared physical cash across the border; through the financial system; and via contraband, The Independent reports.
Venezuela's row with Colombia could hurt peace talks, says Cuba
Talks currently on hold after landmark agreement on agrarian reform
Cuba expressed support on Saturday for its ally Venezuela in a row with Colombia, which Havana suggested could hurt peace talks it has been hosting to end Colombia's long war with leftist rebels. Cuban Foreign Minister Bruno Rodriguez declared in a statement Cuba's "unvarying position of solidarity with Venezuela", Reuters