August 5, 2013

EXCLUSIVE Assessing Nicolás Maduro's first 100 days
Venezuela's economic situation has forced leader to become more collaborative than Chávez

Hugo Chávez’s hand-picked successor, Nicolás Maduro, completed 100 days in office this week. After eking out a narrow and still contested victory in April’s elections, the new president has faced an emboldened opposition and challenges from within his own party in a very different environment from that under Chávez, Latin Business Chronicle reports.

Brazil's trade with China reaches $40 billion in first half of year
The South American nation's trade surplus was $5.3 billion in the period

Trade between Brazil and China in the first half of the year totalled $40.5 billion, a year-on-year rise of 9 percent according to figures from Brazil’s Development, Industry and Foreign Trade Ministry. The growth was due to a strong recovery of soy exports to China and stability of iron ore, oil and wood pulp and cellulose, Macau Hub reports.

MercadoLibre leads e-commerce
Site has 4 million new users in second quarter

MercadoLibre reported consolidated net revenues for the three months ended June this year of $112 million, representing a year-over-year growth of 38 percent in local currencies, and 26 percent in U.S. dollars.  "Our strong performance this quarter validates the strength of our ecosystem and highlights our ability to execute on our strategic initiatives," said the company's CEO Marcos Galperín, The Wall Street Journal reports. 

Argentina's economic growth speeding up, says President
During 2012, Latin America's third economy grew only 1.9 percent

Argentina's economic growth has picked up pace this year, President Cristina Fernandez said. Economic growth has been 4.9 percent so far this year, beating her predictions last month of 4.1 percent. The country's economic activity jumped 7.8 percent in May, compared to the same month last year, Reuters reports.

Mercedes-Benz considers manufacturing luxury cars in Brazil
German car-makers seek to expand in South America to counter a six-year decline in Europe

Mercedes-Benz brand is considering building cars in Brazil to avoid import taxes and serve a growing number of affluent customers in South America’s biggest economy. Local production in Brazil is becoming increasingly common to avoid import taxes imposed by President Dilma Rousseff, who aims to boost manufacturing in the country, Bloomberg reports.

MOREOVER

Venezuela not invited to Paraguay's Presidential inauguration Bernama

Peru's $80-million power plant to start operating in October Bernama

Venezuela and Peru garment trade set to soar Andina

Iran wants to expand relations with Cuba Latin American Herald Tribune