September 3, 2013

EXCLUSIVE Latin Wireless Index second quarter 2013
Top nine providers achieve combined revenues of $32 billion

Latin America’s top nine wireless providers saw combined revenues of $32.3 billion in the second quarter of this year, an increase of 1.5 percent compared to the same period last year. Mexico’s América Móvil, controlled by billionaire Carlos Slim, made up more than a third of the region’s wireless revenues alone, with $13.2 billion, Latin Business Chronicle reports.

Mexican President defends reforms in state-of-nation speech
Peña Nieto:"We knew beforehand it would be complex and that there would be resistance".

Mexican president Enrique Peña Nieto used his first state-of-the-nation address to defend and promote his government's shakeup of the economy and public sector, which has already triggered demonstrations paralysing the capital. "The great transformation of Mexico is possible, and it has started," he said during his speech Monday, The Guardian reports.

Batista no longer a billionaire
His OGX firm lost 40 percent of its value in one day

Brazil's Eike Batista, who 18 months ago was worth $30 billion, has officially lost his billionaire status. He is now worth less than $900 million, according to Forbes’ calculations.That figure accounts for $2.7 billion in loans that Batista reportedly owes to Brazil’s BNDES development bank and to the Mubadala sovereign fund of the United Arab Emirates. Over the past weeks, the decline in his energy-related holdings wiped out about $430 million of his wealth .Much of Batista’s estimated $900 million remaining fortune lies in shares of his six public traded companies, all of which are still in pre-operational stages and have yet to turn on a profit, Forbes reports.

Venezuela's Nelson Merentes admits problems in economy
Finance Minister said the government should reforms laws to push growth

Venezuela's finance minister Nelson Merentes has acknowledged that the economic policies of late President Hugo Chavez and his successor Nicolás Maduro have not yet succeeded. He said the government had "improved" the living standards of many Venezuelans, but not solved the "structural problems" of the economy, BBC News reports.

Peru starts free trade talks with seven countries
Country also set to hold negotiations with the Gulf Cooperation Council

Peru's Minister of Foreign Trade and Tourism, Magali Silva, said her country has started the first talks toward a free trade agreement between Russia, Kazakhstan, Belarus, India, Indonesia, Turkey and Israel. Indian technology would particularly benefit the Andean country, said Silva, but sensitive issues such as textiles would be left out, Andina reports.

MOREOVER

Japan and Brazil to cooperate in marine resources Global Post

YPF says Pemex would make good Vaca Muerta shale partner Bloomberg

Venezuela to mend relations with Paraguay Bernama

Ecuador's Internet connections up 37 percent in 2013 Rapid TV News