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August, 15 2013

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Indian IT firms urged to aim for Latin America
Region's spending on software is double that of the global average

India’s software promotion council, ESC, has advised domestic IT services firms to write software that suits the requirements of the Latin American market. The region's software market is currently worth about $124 billion, a number which  is likely to surge to $166 billion by 2016. Brazil is the main market for Indian companies, Nearshore Americas reports.

Unexpected strike hits world's largest copper mine in Chile
Stoppage comes as the metal's prices are at a nine-week high

Workers began a surprise strike at the world's largest copper mine, Chile's Escondida, on Wednesday to demand improved working conditions and a bonus. The strike at Escondida, controlled by global firm BHP Billiton, started at 8am local time and was initially planned to last 24 hours. Workers at BHP's smaller Spence and Cerro Colorado mines are also striking, Reuters reports.

Batista gives up control of LLX
Expectations of deal drove up firm's shares 17 percent

Brazilian tycoon Eike Batista agreed to cede control of port operator LLX Logistica to U.S. investment group EIG Global Energy Partners. The sale is one of the biggest steps in the breakup of his once high-flying energy and mining empire Grupo EBX. EIG will invest $562 million in LLX, providing enough cash to help finish the Açu Superport in Rio de Janeiro state, Reuters reports.

Peru sees $6.5 billion investment on section 2 of Lima Metro
Project will connect the capital city's East and Central areas

Peru's ministries of Transport and Economy have approved feasibility studies for Section 2 of the Lima Metro, which will require an investment of $ 6.5 billion. The money will be used to build 35 stations, five of which will be underground and 30 at surface level. After the investment, the Metro is expected to carry 2.4 million passengers, Andina reports.

Colombia's coal output drops 13.4 percent in turbulent first half 
Country cut this year's production target to 94 million tons earlier this year

Colombia's coal production fell 13.4 percent in the first half of 2013 to 40.5 million tons, the National Mining Agency said. Strike actions and disruptions in logistics were the reasons for the drop, according to the agency. As well as the strikes, environmental regulator ANLA temporarily closed down a key mine-to-port railway and halted ship loading by Drummond,

MOREOVER

Bolivia plans second bond sale after century-long absence Bloomberg

Business climate in Latin America at a 21-month low El Universal

Fitch affirms Falabella's rating at BBB The Herald

Taiwanese leader attends Paraguayan presidential inauguration China Post

Facebook hits 200 million users in Latin America Telecompaper 

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