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July 12 2013

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EXCLUSIVE Region has huge potential for renewables
Latin America's energy needs will double by 2030, says Inter-American Development Bank

Latin America has a fantastic endowment for renewable energy, and could meet 100 percent of its energy needs from renewable sources. Beyond the obvious environmental benefits, the introduction of renewable energy sources could have important economic, development, and health benefits as well, Latin Business Chronicle reports.

Mexico reforms: Peña Nieto has to choose between Pemex and pact 
Lack of investment has prevented Mexico from unlocking its vast deep-water potential

Mexican President Enrique Peña Nieto may be faced with a hard choice between the Pact for Mexico and to reform the country's energy business. While the pact is certainly worth trying to preserve as it remains a shining example of political civility, if Peña cannot bring the other members of the pact with him, he should push ahead with reform regardless, The Economist reports.

Cuba opens up to foreign investment
Gross domestic product grew 2.3 percent in first quarter

Cuba has outlined a plan to deregulate state-owned companies and attract more foreign investment that brings technology, financing and jobs to the island, Vice President of the Council of Ministers Marino Murillo said. “We will be working for deep reforms for the rest of the year and well into the next. The very first step has been to eliminate prohibitions and restrictions.” he said, International Business Times reports.

Mercosur agrees to lift Paraguay's suspension in August
The nation has been suspended from three regional blocs for over a year

Mercosur will lift the suspension on Paraguay's participations on August 15, Uruguayan representative Luis Almagro said. "We have followed the election process in Paraguay, which will allow on August 15, with the inauguration of president Horacio Cartes, the lifting of the suspension," Almagro said on Thursday, The Buenos Aires Herald reports.

Peru's trade with the United States likely to reach $16.5 billion
Non-traditional exports account for 42 percent of Peruvian exports to the U.S.

Trade between Peru and the United States is likely to reach $16.5 billion in 2013 but could grow further in the coming years if textile exports pick up pace, according to U.S. Ambassador in Lima, Rose M. Likins. She noted that bilateral trade has more than doubled since the free trade agreement between the countries came into force four years ago, Bernama reports.

MOREOVER

? Chile retailer SMU announces $500 million capital increase Wall Street Journal

? Mexico's top brewers limit exclusivity contracts Wall Street Journal

? Uruguay to sell up to $5 billion in debt securities Wall Street Journal

? Argentina and Azerbaijan to boost cooperation AzerNews

? Brazil's second largest union urges Finance minister to quit Bloomberg

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