EXCLUSIVE Taiwan boosts disaster aid in Latin America
Initiative combines information technology with community-based solutions
The Western Hemisphere has long been one of the most disaster-prone areas of the world prone to hurricanes, tropical storms, floods, earthquakes and volcanic eruptions. A partnership between Taiwan and the Pan American Development Foundation is tackling this issue head on by targeting local communities in the region who are highly vulnerable to disasters, Latin Business Chronicle reports.
Itau and Bradesco bet $14 billion on Brazilian mortgage market
Move comes as weaker economic prospects make other types of loans riskier
Brazil’s two biggest privately owned banks are betting $13.5 billion on housing, helping to push mortgage rates to the lowest in two years at a time when borrowing costs are rising for the rest of the economy. Itau and Banco Bradesco increased their home-loan portfolios by 32 percent each in the second quarter from a year earlier to $13.6 billion, Bloomberg reports.
Latam Airlines gains in Chile
Company's shares have fallen 43 percent in 2013
Latam Airlines, Latin America’s largest carrier by revenue, rallied as the stock’s lowest valuation in at least a decade lured buyers. The airline rose 5.2 percent at the close in Santiago, the biggest jump in 14 months. “Latam’s valuation multiples are showing an attractive point of entry if you are an investor with a mid to long-term horizon,” said analyst Oswaldo Pacheco, Bloomberg reports.
President Rafael Correa: Chevron is an enemy of Ecuador
Country ordered oil firm to pay $19 billion last year for polluting the rain forest.
Ecuadoran President Rafael Correa lambasted U.S. oil giant Chevron as an enemy for allegedly besmirching his country as part of a lengthy court battle over Amazon pollution. "We are going to tell Latin America what Chevron has done in our country to shirk its responsibility, with that criminal campaign that is waging against Ecuador," Correa was quoted as saying, Upstream reports.
Peru's $15 billion mining projects to start by the end of the year
Plans highlight country's potential to face other external threats to its economy
Mining projects in Peru worth some $15 billion are slated to start operations between December this year and the first half of 2015, Peru's Minister of Energy and Mines, Jorge Merino said. The minister stressed these projects will increase Peru's copper production from 1.3 million to 2.8 million tons by 2016, Bernama reports.
Holcim's Ecuador expansion on track World Cement
China and Mexico vow to boost strategic partnership Xinhua
Hyundai plans new car dealer network in Mexico Automotive News
U.S. energy firms eye Brazilian shale gas Gulf News
EIG may bid for more of Brazilian Batista's troubled EBX group Reuters
Argentina conquers Uruguay's entertainment market Rapid TV News
BHP and Rio Tinto workers go on strike in Chile Ninemsn