Latin America's productivity challenge
Latest competitiveness report lauds the region’s macroeconomic stability
Latin America’s competitiveness in the global economy remains hampered by slow growth in productivity. Such is the finding of the latest Global Competitiveness report published annually by the World Economic Forum. But the report also highlights the healthy pace of economic growth and the sound macroeconomic conditions that led to it, Latin Business Chronicle reports.
Brazil revises phone contracts after alleged U.S. spying
Oi, Telefónica, América Móvil and Telecom Italia to be analyzed
Brazil's telecoms authority Anatel is analyzing phone contracts between local operators and foreign companies to investigate possible breaches of privacy after new allegations of U.S. spying. Brazil demanded an explanation from the U.S. government about documents that suggest the National Security Agency used software to probe the communications of President Dilma Rouseff, Bloomberg reports.
Santos plunges in popularity poll
Hits lowest point since taking office in 2010
Colombian President Juan Manuel Santos's public popularity rating hit its lowest level since he took office in 2010, a poll released Wednesday showed. According to the poll, only 21 percent of Colombians viewed him positively, down from 74 percent at the start of his term. The poll was carried out during the nationwide protests over the last two weeks, putting pressure on Santos who has until November this year to decide if he runs for a second term, Reuters reports.
Chinese and Argentine leaders agree to bolster cooperation
Xi Jinping urged South American country to create a better environment for investors
China's Xi Jinping and Argentina's Cristina Fernández de Kirchner vowed to boost cooperation after both leaders held talks in St. Petersburg, Russia, ahead of the G20 summit. Xi called for more cooperation in finance, energy, infrastructure, trade, hydropower and mining. Fernández highlighted the fact that China has become Argentina's second trade partner, The People's Daily reports.
Brazil's service sector shrinks for the first time in one year
Employment in private sector also saw six-month drop
Brazil's service sector shrank in August for the first time in a year, an HSBC survey showed Wednesday. The survey reinforced views that Brazil's spurt of economic growth in the second quarter has quickly slowed down. Bets are rising that the central bank may have to raise interest rates faster than first expected this year, Reuters reports.
LAN Colombia to join Oneworld ATW Online
Peru's interventions in exchange market hit $4.7 billion Andina
Colombia's unemployment rate at lowest in a decade Infosurhoy
Mexico and China discuss more trade Global Post