August 12, 2013

EXCLUSIVE Bumpy road ahead for Juan Manuel Santos
Colombian president is embattled by domestic protests and slow peace talks with the FARC

With next year’s presidential election on the horizon, Colombian President Juan Manuel Santos faces challenges from domestic protests and from the FARC guerrilla movement that have shut down parts of the country and economy. “We are at a unique and critical point of time in terms of politics in Colombia,” Oliver Wack, analyst at Control Risks told Latin Business Chronicle.

Mexico aims for NAFTA-style growth with energy reform
Plan is expected to be unveiled and sent to Congress this week

Mexico's plans to break a 75-year state monopoly on energy could boost flagging growth and double foreign investment, potentially providing the biggest leg-up to its economy since the North American Free Trade Agreement two decades ago. The government is finalizing proposals to lure private investors into the oil, gas and electricity industries, Reuters reports.

China's Chery to start Brazil operation
Car maker started building plant in 2011

Chinese automaker Chery will open its new plant in Brazil this year. The firm's plant was built in Jacarei city in Sao Paulo with an investment of some $400 million. Brazil has become one of the most important overseas markets for Chery since it first set foot in the country in 2009, where it has 80 dealers and won a prize for best SUV for its Tiggo model in 2010, Xinhua reports.

Argentina's President faces challenges after primary elections
Kirchner fails first electoral test as opponent took 32 percent votes in Buenos Aires

Former Cabinet Chief Sergio Massa yesterday beat Cristina Fernandez de Kirchner’s leading candidate in a primary to choose contenders for October mid-term congressional elections. Nationwide, President Fernandez’s ruling Frente Para la Victoria party secured 25.2 percent of the total vote with 76 percent of votes counted, Bloomberg reports.

MOREOVER

Lightning sparks blaze at one of Venezuela's largest refineries Reuters 

Petrobras beats estimates on record refining Businessweek

Cemig to invest $621 million in Brazil developer Renova Bloomberg

Brazilian government recovers some popularity The Tribune

Spain's Eurona sees opportunities in region Latin American Herald Tribune