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September 11, 2013

Mexico seeks Chinese partners for $300 billion deals
Banco Interacciones is looking for industrial companies to supply the U.S. market

Mexico is seeking Chinese investment to boost its economy through sharing $300 billion infrastructure deals. "Mexico requires large investments in infrastructure, such as oil platforms, trains, ports, bridges and highways," said Fernando Moreno, managing director at Banco Interacciones. The deals could serve as a gateway for Chinese firms to export to the U.S., the South China Morning Post reports.

Chinese firms to compete for $5 billion Peruvian copper mine
Glencore is selling the project as part of $29-billion deal to take over Xstrata this year

Up to four Chinese companies are expected to bid for a Peruvian copper project valued at $5 billion, according to global commodity trader and metal producer Glencore Xstrata. The companies interested in the mine, known las Las Bambas, include Chinalco Mining, MMG and Citic Resources Holdings, Bloomberg reports.

Rouseff's approval bounces back
Gives leader boost for next year's elections

The number of Brazilians who approve of President Dilma Rouseff's government rose to 38 percent at the start of September, up from 31 percent in July. Rousseff's personal approval rating, which was more than 70 percent before massive street protests shook Brazil in June, recovered to 58 percent from 49 percent in July. But her negative numbers remain high enough to force a run-off vote that could complicate a re-election bid. Reuters reports

Standard & Poor's downgrades Argentina to CCC plus
Decision comes after a U.S. court of appeals upheld order for country to pay holdout investors

Ratings agency Standard & Poor's has downgraded Argentina's sovereign credit ratings to CCC plus, down from B minus. "We are lowering our ratings on Argentina because of increased risks to debt service stemming from a lawsuit over the debt the government of Argentina still maintains in default," the firm said, the Telegraph reports.

Mining firms warn investment cuts in Mexico over royalties
Canada's Riverside Resources has already taken 45 percent operations out of the country

Mining companies have threatened to cut investment in Mexico after the government proposed a 7.5 percent mining royalty, arguing that lower metal prices, rising running costs and higher taxes reduce the country's investment allure. The royalty proposal was part of President Enrique Pena Nieto's plan to bolster the country's tax haul, Reuters reports.


Brazil's chief economists urge clear fiscal rules Bloomberg

U.S. spying on Petrobras economically motivated Bernama

Singapore foreign minister to visit Peru this week Andina

Chile gives green light to Glencore-Origin hydroelectric project Reuters 

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