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September 4, 2013

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India's Reliance Industries eyes Venezuelan oil blocks 
Firm already imports 300,000 barrels per day from South American nation

Reliance Industries, heaquartered in Mumbai, said it is evaluating opportunities toward a multi-billion dollar investment on two to three oil blocks offered by Venezuela. “We want a long term crude supply contract and to invest more in Venezuela,” the company's executive director PMS Prasad said, The Hindustan Times reports.

Qatar and Ecuador near to signing double taxation treaty
Ten agreements were signed between the two countries in February

Qatar and Ecuador are close to signing a treaty on avoidance of double taxation and prevention of fiscal evasion on income tax, Ecuador's Minister of Revenue Services Carlos Marx Carrasco said.  “The objective is to attract capital export countries to make investments in strategic sectors and projects of Ecuador,” he said, The Gulf Times reports. 

Peru sees 3.8 million tourists by 2016
Country reports 1.5 million visitors in first half this year 

Peru's Ministry of Foreign Trade and Tourism has predicted that the country will receive some 3 million foreign tourists this year and 3.8 million in 2016. Minister Magali Silva (left) said the estimates are based on figures taken from the Central Reserve Bank, Ministry of Interior and the Immigration Office. Silva noted that this growth rate is higher than those of neighboring Colombia and Ecuador, Andina reports.

Uruguay gives green light to higher taxes on mega mining projects
New law could affect Zamin Ferrous' plans to start its $3 billion Aratiri plan

Uruguay's Congress passed new rules imposing heavier taxes and environmental standards on potential mega mining projects that have yet to start operating in the country. "Uruguay will now also have mining as one of its principal contributors to gross domestic product," said house member Julio Battistoni, Reuters reports.

Colombia plans raising 2014 budget to help farmers
Next year's budget is already 5.8 percent larger than 2012  

Colombia may lift the size of its 2014 budget to help provide additional resources to the struggling agriculture sector and calm a two-week protest that turned violent last week. The government is considering an increase in spending by up to $1 billion. To fund the increase, the government may delay a planned reduction in the financial transaction tax and shift the resources to the budget, Reuters reports. 

MOREOVER

Colombia's aquaculture boosts exports Fox News Latino

Chile's Codelco reports 1 percent drop in copper output Bloomberg

Minsk to host Belarus and Ecuador business forum Belta

Cuba and Brazil seek to strengthen agricultural ties Caribbean Journal

Peru's new industrial policy to bolster regional development Andina 

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