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August, 22 2013

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EXLUSIVE Guatemala's big plans for development
Minister of Economy highlights strong growth, stable economy and clear policies

Guatemala’s Minister of Economy, Sergio de la Torre, has a broad plan for infrastructure development in his country. In an exclusive interview with Latin Trade, the minister discussed his plans for highways, ports, airports, and industrial zone. In particular he highlighted the country’s plans for a “Dry Corridor” between the Atlantic and Pacific, Latin Business Chronicle reports. 

Mexico's posts $23.8 billion foreign direct investment in first half
Preliminary figure was more than double the amount initially reported for the first half of 2012 

Mexico registered foreign direct investment of $23.85 billion in the first six months of the year, the highest ever for a similar period. Investment was boosted by Anheuser-Busch Inbev 's buyout of Mexican beer maker Grupo Modelo, the Ministry of Economy said. The transaction alone accounted for $13.2 billion of the total, The Wall Street Journal reports.

Argentina prepares China shale deal
South American nations seeks to boost gas reserves

Argentina’s state-owned energy company YPF said its next shale oil and gas partnership will be with a group including China’s Cnooc, the Asian country's third largest oil and gas explorer after CNPC and Sinopec. An agreement with Cnooc and Bridas would be YPF’s second binding shale partnership in the 16 months since President Cristina Fernandez de Kirchner seized control of the company from Spain’s Repsol, Bloomberg reports.

Mexico seeks to implement new tax for private oil companies
New rate would be similar to Brazil and Colombia

The Mexican government is looking to propose taxing private oil companies that partner with state-owned Pemex at a similar rate as in Brazil and Colombia, Mexico’s deputy finance minister for revenue,  Miguel Messmacher, said. The government plans to significantly reduce oil-drilling royalties paid by Pemex as soon as the energy overhaul is approved, he added, Bloomberg reports.

Colombian government to probe Cementos Argos over price-fixing
Colombian arm of Cemex is also included in the investigation

Cementos Argos, Colombia’s largest cement maker, faces a probe of allegations it conspired with rivals to fix prices over the past three years, the country’s industry regulator said. The country's trade authority has opened an investigation of five cement companies for “an alleged agreement to fix prices and divide up the market,” Bloomberg reports.

MOREOVER

Ecuador shrimp industry strikes out at new U.S. tariff Wall Street Journal

Latam Airlines wieghs suing Argentina over hangar order Wall Street Journal

Venezuela to issue $6 billion in bonds El Universal

Chile's Codelco abandos plan to mine lithium Mining

Biofuel-powered commercial flight debuts in Colombia Xinhua 

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