July 30, 2013

EXCLUSIVE Being close to customers is key to success
Advice from Emerson Process Management CFO Alex P. Russell

The key to success in Latin America is keeping very close to customers, maintaining strong communications with other departments and working in tandem with corporate headquarters, says Emerson Process Management CFO, Alex P. Russell. In this Latin Business Chronicle exclusive, he give his insight from a company with 30 years' experience in the region.

Chile to host first Latin American Innovation Summit
Event to be held from July 30 to 31 at the Movistar Innova Center

The first Latin American Innovation Summit opens Tuesday in Santiago, Chile. The Summit calls on Latin American leaders to develop a regional agenda for innovation that will promote economic development and education in their countries. Countries from outside Latin America invited to take part include Canada, Rwanda, Span and Australia, The Herald Online reports.

Colombia sells Isagen stake
First auction to be held in one month

Colombia’s government will auction its majority stake in the country's largest electricity company Isagen to raise money for infrastructure projects, Finance Minister Mauricio Cardenas (left) said. The government wants to raise $2.4 billion or more for its 57.6 percent stake in the Medellin-based company, he said. Cárdenas added there are no plans to sell stakes in Ecopetrol, Bloomberg reports.

Shares in Carlos Slim's América Móvil drop after KPN deal ends
Fall comes after the company agreed to keep its holding in the Dutch firm below 30 percent

Shares in Mexican billionaire Carlos Slim's America Móvil fell as much as 1.4 percent at the open on Monday. América Móvil was entitled to end the agreement after Spain's Telefónica bid $10.7 billion for KPN's German mobile arm E-Plus, KPN said. The end of the deal could signal America Móvil may bid for the whole of KPN, Reuters reports.

Chile cuts growth forecast for 2013 on declining copper prices
The metal accounts for more than half of  the country's export revenue

Chile revised lower its forecast for full-year gross domestic product growth to 4.6 percent from 4.8 percent, reflecting cooling investment and a slowing economy. The price of copper, of which Chile is the world's number one producer, will fall to $3.28 per pound, from the $3.40 previously forecast, the country's budget office said on Monday, Reuters reports.

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General Motors to invest $691 million in Mexico Mexico Today

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Hutchison investing in Mexico's Ensenada terminal Seatrade Global

Imax signs accord with Ecuador's largest cinema firm Sacramento Bee