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July 24, 2013

Toyota top man to focus on Latin American expansion
Region, together with Africa, Middle East and Oceania, account for 18 percent revenue

Mark Hogan, one of Toyota's board members, said the company will boost efforts in expanding the company throughout Latin America. His comments come as Toyota faces underperformance in Argentina and Brazil. “Toyota has a very strong image in the Latin American market, so its market share should and will increase," he added, Businessweek reports.

Credit quality for Brazilian corporates to stay stable, says Moody's
Depreciation of real and adequate corporate liquidity should help mitigate slow performance

Moody's ratings agency said the credit quality for Brazilian non-financial coporates should remain stable throughout the year. The depreciation of the real will aid Brazilian exporters over the next few months, making their goods more competitive overseas or increasing their revenues in local currency, said Moody's Brazil vice-president and senior analyst, Barbara Mattos.

Mexico's Bimbo profit up 4.4 percent
Company's operating profit rose to $346.7 million

Mexico's Grupo Bimbo, one of the world's largest bread makers by volume, on Tuesday reported a 4.4 percent higher second-quarter profit as operational improvements offset pressure from a higher tax rate. The company reported a profit of  $71 million, compared with $68 million in the year-earlier quarter. Grupo Bimbo said it paid a higher tax rate over the quarter that trimmed its net profit, Reuters reports.

Argentinian economy's surprising results sees surge in warrants
Investors gaining confidence the nation will surpass growth of 3.2 percent needed for payments

Securities linked to Argentina’s economy are surging by the most in almost three years as unexpected growth fuels speculation that the nation will expand enough this year to trigger a payout. “It’s going to be very difficult for anyone to argue that Argentina’s not going to post a strong official growth number this year," said Daniel Volberg, economist at Morgan Stanley, Bloomberg reports.

Moody's: Mexican corporate credit quality to remain stable this year
Country's beverage industry expected to continue positive trends

The credit quality of Mexican non-financial corporates is expected to remain stable over the next 12 months, Moody's Investors Service says in a new report. Although the nation's economy has slowed recently, the current softness is most likely a cyclical downturn, and growth should pick up again in the second half of this year and be higher still next year, Moody's  reports.


Cuba's main international airport to get upgrade Globe and Mail

Entel rises after winning Peru broadband licence Businessweek

Latin American steel use and production stable SteelGuru

Venezuela seeks $5 billion loan from China for scandal-plagued fund Reuters

Brazil seeks Mercosur flexibility to speed up European trade talks Reuters 

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