EXCLUSIVE Argentina courting suitors for Vaca Muerta
YPF is seeking partners to develop its shale reserves and halt rising energy imports
Argentina has had a hard time attracting any but the most intrepid investors in its gas industry. But recently the Argentine government announced a number of new deals on the horizon. “We need investments from partners to revert the natural decline of fields,” said YPF President Miguel Galuccio, and a few companies have taken note, Latin Business Chronicle reports.
Mexican President unveils long-awaited fiscal reform
Peña Nieto: "Aim is for all taxpayers to contribute to the country as far as their means will allow"
Mexican President Enrique Peña Nieto unveiled a long-awaited fiscal reform Sunday. The reform raises taxes on high-earners, aiming to boost social programs to help the poor. It also held off a controversial sales tax on staple food and medicine. "The reform puts an end to tax privileges that shouldn't exist," Peña Nieto said, Reuters reports.
Globo: U.S. spied on Petrobras
Firm says objectives and scope are unclear
The U.S. government spied on Brazilian state-run oil giant Petrobras, according to intelligence documents released by Globo television. The company, who said it obtained the information from journalist Glenn Greenwald (left), said it was unaware of the scope or objectives of the spying on Petrobras. Communications Minister Paulo Bernardo said the scope of the espionage was broader and more serious than had initially been thought and that U.S. explanations had so far been "false," Global Post reports.
Trade between China and Chile grows 22 percent in seven years
South American nation exported 80 percent of its copper to China in 2012
Trade between Chile and China grew 22 percent since the two countries signed a free trade agreement in 2005. According to Chilean government figures, last year, bilateral commerce grew 4 percent compared to 2011. China received more Chilean exports than any other nation for the first time in 2007, when it surpassed the United States for that distinction, the International Business Times reports.
Abilio Diniz to step down as chairman of Pão de Açúcar
Resignation ends long-running dispute with France's Groupe Casino
Abilio Diniz, longtime chairman of Brazilian retailing giant Pão de Açúcar , will step down from the company. The decision comes after a two year-long battle with France's Casino Guichard Perrachon over control of Cia. Brasileira de Distribuição, owner of the Pão de Açúcar chain. The French retailer, a former Diniz partner, has been seeking to oust the chairman in recent months, Reuters reports.
Russian social network out to displace Facebook in Latin America Global Post
Peru's tax collection up 6.6 percent in August Andina
Chinese steel exports to Latin America hit record high Steel Guru
Peru to tightly monitor textile imports Andina