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August 26, 2013

EXCLUSIVE LAN debuts biofuel flight in Colombia

Airline chose the South American nation for its renewable energy potential 

LAN Colombia made its first commercial flight last week in the South American nation in an Airbus 320-214 using biofuel made from a flowering plant called Camelina. The flight represents part of a strategic effort by Chilean-based LATAM Airlines Group, LAN Colombia’s parent company, to reduce carbon emissions in its international operations, Latin Business Chronicle reports. 

Pacific Alliance members close to lifting all trade tariffs
Group is also reaching final agreement on terms governing the rules of origin

The Pacific Alliance, comprising Mexico, Colombia, Peru and Chile, has almost concluded negotiations to remove tariffs on all trade between them, Mexican Economy Minister Ildefonso Guajardo said. A few issues, including how to tackle some agricultural products, still need to be ironed out, but the plan is to conclude talks this week, Guajardo said, Reuters reports.

Mexico sees 4 percent growth in 2014
This year's outlook is 1.8 percent

Mexico's economy is set to rebound next year, boosted by a recovery in its main trade partner, the United States, Finance Minister Luis Videgaray (left) said. The upbeat forecast came days after data showed Mexico's economy contracted for the first time in four years in the second quarter because of lower government spending, sluggish consumption and weak demand for exports. In the second half of this year, stronger growth in the U.S. and more public spending at home will help lift Mexico, he said, Reuters reports.

Peru's economy grows boosted by manufacturing and construction
Slowing growth in China has curbed demand for Andean nation's exports  

Peru’s economic growth accelerated in the second quarter from the slowest pace in three years in the previous three months as construction picked up and manufacturing rebounded. Gross domestic product rose 5.6 percent from a year earlier, the country's statistics agency said. The agency had originally calculated 4.8 percent growth, Bloomberg reports.

Argentina loses appeal to pay $1.3 billion in bondholder fight
Standoff with the U.S. rises fears the South American country could default

Argentina lost its appeal of a U.S. court order requiring it to pay $1.33 billion to hedge funds that refused to accept steep discounts when the nation restructured its debt. The court also had harsh words for the government of Argentine President Cristina Fernandez, which has called the hedge funds vultures and vowed not to pay them, Reuters reports. 


Batista's OSX names new chief executive Bloomberg

Peru's GDP per capita seen at $20,000 by 2021 Bernama

Keystone’s impact on Venezuela muted by waning imports Bloomberg

Internet beats TV in Latin American advertising Rapid TV News 

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