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July 31, 2013

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EXCLUSIVE DHL hedges its bets on Latin America
The region accounts for half its profits for the whole continent

Global logistics firm DHL Express is bullish on Latin America, says Stephen Fenwick, the company’s CEO for the Americas. He said the Pacific Alliance countries - Chile, Colombia, Mexico, and Peru - offer tremendous opportunity for the future, but admits more protective economies like Argentina and Venezuela pose challenges, Latin Business Chronicle reports.

Grupo Sura's Andrés Bernal named Latin Trade CFO of the year 
He led the acquisition of a 50 percent stake in Horizonte, BBVA's pension fund in Peru

Andrés Bernal, of Colombia's Sura Asset Management, was named Latin Trade CFO of the Year by Latin Trade Group. In 2011, Bernal, 41, led the largest merger in Colombian history with the $3.7 billion acquisition of ING pension fund assets. This turned Sura into the largest pension savings manager in Latin America with 25 million clients, Reuters reports.

Brazil's Itaú Unibanco profits rise
Bank posted second quarter gains of $1.5 billion 

Itau Unibanco, Brazil's second-largest bank by assets, said its profit in the second quarter increased thanks to the reduction of provisions expenses, offsetting the slow rise of its total outstanding loans due to the weak economy activity. The bank posted a second-quarter net profit of $1.58 billion. With the still tepid economic activity this year, banks in Brazil are seeing less demand for credit, The Wall Street Journal reports.

Spain's BBVA boosted by Latin American asset sales 
But economic problems in Chile and Venezuela' weighed down on income

First-half profits at Spain's BBVA jumped on asset sales in Latin America, where muted earnings helped offset some of the pain in its recession-hit home market but also signalled a possible downturn ahead. A strong performance in Mexico, where the bank makes more than a quarter of revenues, helped keep lending income steady, Reuters reports.

Peru has number one tourism promotion board in Latin America
Country recently won the World Travel Awards for third year in a row

According to the World Tourism Organization, Peru's growth in visitor arrivals makes the nation a world leader. So far this year, Peru's international visitor arrival grew 8.5 per cent, while the global average was 3.9 per cent. This growth is largely a result of the work of Peru's tourism promotion board PromPeru, eTurbo News reports.

MOREOVER

Argentina probes misappropriated $1.4 billion bill to Venezuela The Sun Daily

Ecuador launches tourism campaign in Washington eTurbo News

Peru lags behind Latin America in e-book adoption Good E-Reader

Fitch withdraws Banco de Venezuela's ratings Reuters

Cuba looks to medical tourism as income source News 24 

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