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July 23, 2013

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EXCLUSIVE Americas lead 2012 global tourism gains
Mexico is by far the region's top destination

The Americas saw the largest growth in global tourism receipts in 2012, with revenues up 7 percent over a year earlier. Tourism contributed $69 billion to the economies of Latin America and the Caribbean in 2012, which made up 1.2 percent of the region’s total. This is the data from Latin Business Chronicle's latest Latin Tourism Index.

 

Carlos Slim sees new competition for his Colombian operations
New company would have more than 8.4 million fixed line and mobile customers

Luxembourg's Millicom International on Monday announced plans to merge its Colombian operations with the fixed-line business of state-run Empresas Públicas de Medellín in a move to create “a leading digital lifestyle company” in the country. The company already operates in Colombia under the Tigo brand and is the country's third cellular operator, The Financial Timesreports.

Peru's trade and tourism minister quits
He oversaw the Trans-Pacific Partnership Agreement

Peru's Trade and Tourism Minister Jose Luis Silva (left) has resigned from his post for "personal reasons", Prime Minister Juan Jimenez said. His resignation comes at a complicated time for Peru's export sector, which has been affected by a sharp decline in metal prices due to a slowdown in growth from China, The Wall Street Journal reports.

Latin America's infrastructure on target at mid-year, says Fitch
Credit fundamentals for region remain stable, says Global Infrastructure 

Fitch Ratings gave a stable outlook for Latin American infrastructure, according to the agency's '2013 Midyear Outlook: Latin America Infrastructure' report. Favourable demand trends, expected performance from transportation, availability-based projects and power assets all helped lead to the decision, Reuters reports.

Brazil to reduce $4.5 billion in spending to help meet fiscal goal
Travel, information technology, rental and outsourcing expenses included in new cuts

The Brazilian government is cutting spending for the second time in two months to help meet its fiscal target as it forecasts slower growth this year in Latin America’s biggest economy. The government is reducing expenditures by $4.5 billion and lowering this year’s economic growth forecast to 3 percent from 3.5 percent, Finance Minister Guido Mantega said, Bloomberg reports.

MOREOVER

Peru polls: Humala approval ratings fall to new low Wall Street Journal

France to help Argentina in debt case Bloomberg

Chevron's latest headache in $19 billion Ecuador lawsuit Fortune

faces challenge of reducing imports of petroleum products Global Post

Venezuela's revamped dollar auction seen as too little Wall Street Journal

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