EXCLUSIVE Starbucks brings their coffee to Colombia
Company plans to open 50 stores over the next five years
Starting next year, Starbucks will bring their world-famous coffee and café culture to Colombia. The firm is confident it can bring the “Starbucks Experience” to the country and win customers through its product and experience. Latin Business Chronicle spoke with CFO for Latin America Carlos Mario Estefan about some of the company’s plans for the company’s newest expansion.
Mexico's tax overhaul is neutral for sovereign credit, says Fitch
Reform aims to boost federal government revenues by 1.4 percent of gross domestic product
Fitch ratings agency said Mexico's recently announced tax overhaul is neutral for its sovereign creditworthiness. The positive impact from the expansion of the government's revenue base needs to be counterbalanced by the near-term weakening of the economy and higher-than-expected fiscal deficits in the coming years, the company said, Reuters reports.
Repsol eyes oil stake in Venezuela
Firm is looking at $20-billion Petrocarabobo project
Spain's Repsol, along with Venezuelan state oil company PDVSA, are seeking to acquire an 11 percent stake that will be left behind by Malaysia's Petronas, said Oil Minister Rafael Ramírez (left). Petronas confirmed this week it was leaving the $20-billion Petrocarabobo project, due to long delays, frequent changes in the fiscal framework and disagreements over terms and conditions, Business Times reports.
Latin America needs infrastructure investment to spur growth
Analysts point out lack of railways, airports, ports, metro stations and energy plants
Latin American and Chinese experts agreed Latin America would boost its growth rate with more investment in infrastructure. The analysts were gathered for the fifth Latin America-China Investors Forum, held in Beijing. "The entire region has great potential," said Jean-Marc Aboussouan, head of the Infrastructure Division at the Inter-American Development Bank, Fox News Latino reports.
Brazilian prosecutors seek to block Canadian mine in Amazon
Volta Grande project is set to become the country's largest gold producer
Brazilian prosecutors are seeking to stop the permit for a massive gold mine planned by Belo Sun Mining on the Xingu River in the Amazon. The prosecutors say the firm has failed to carry out studies on how the mine could affect local indigenous communities. The state of Para's environmental office, responsible for the permit, said that studies on the communities can be done after a permit is granted, Mineweb reports.
Peruvian government to award project worth $15 billion Andina
Colombia's Ecopetrol sells $2.5 billion in bonds Nasdaq
OPEC: Venezuela's oil output drops 4.2 percent El Universal
Peru's exports to U.S. and EU up in first half of year Andina
Tourism New Zealand picks Sao Paulo for regional base MercoPress