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July 16, 2013

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Mexico announces investments worth up to $315 billion

Projects include country's first high-speed rail links

The Mexican government announced plans Monday to invest about $315 billion in rail, road, telecom and port projects over the next five years. The projects include the modernization or building of four airports, seven seaports and some 3,350 miles of highways. President Enrique Peña Nieto said figure could be more depending on the results of a tax overhaul proposal, The Wall Street Journal reports.

Foreign direct investment to Colombia drops 6 percent

Inflows to mining and energy sector account for 83 percent of total

Colombia received less foreign direct investment in the first half of the year compared with a year earlier as inflows destined for its booming oil and mining sector were crimped by weak global demand, central bank data showed. In the first six months of the year, foreign investment fell 6.2 percent to $8.75 billion, Reuters reports.

Argentina offers energy tax deal

Government seeks to regain energy sufficiency

In a bid to lure urgently needed investors to its energy sector, Argentina said it would allow companies to export 20 per cent of oil and gas tax-free provided they invest $1 billion over five years. But some were sceptical that the investment sweeteners would work. “I don’t think it’s going to be enough to revert the climate of distrust in Argentina,” said Emilio Apud (left), a former energy secretary, The Financial Times reports.

Tourism in Peru likely to reach $10 billion in by 2021, says Ministry

Current tourism revenue accounts for 8 percent of gross domestic product

Peru's tourism sector is expected to generate $10 billion in revenue in 2021 through an aggressive promotion strategy to increase tourist arrivals to 10 million, National Chamber of Tourism said. The Inter-American Development Bank said that tourism is likely to be the second source of revenue for Peru in 2021 as it generates $3.3 billion in revenue, Bernama reports.

Brazil's Embraer backlog reaches highest point in four years

Backlog points to a recovery of the global airline industry

Brazilian aircraft manufacturer Embraer saw its backlog of firm orders increased in the second quarter, to the highest level since the third quarter of 2009. Its backlog of firm orders totaled $17.1 billion, up from $12.9 billion from last year. But the company's jet deliveries dropped during the same period, The Wall Street Journal reports.

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Brazilian bank workers seek 11 percent salary increase Wall Street Journal

Nissan says may sell low-cost Datsun cars in Brazil Reuters

chilean court suspends Barrick's Pascua-Lama mine again Reuters

Citi's Latin America profits rise Business News Americas

Ecuador earmarks $100 million for thermonuclear plant Bernama

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