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September 17, 2013

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EXCLUSIVE Latin American retail stays strong
Region’s highest revenues, after Petrobras, were earned by Mexico’s América Móvil

This quarter’s Multilatina Index from Latin Business Chronicle shows that Latin America’s top 25 multilatinas saw combined revenues of $124.4 billion, up 1.7 percent from the same quarter last year. The largest growth in percentage terms went to the retail sector, which saw growth of 11.3 percent, or $800 million, compared to the same period last year.

Battle between Ecuador and Chevron takes new turn
New York Court favours Chevron in new fraud allegations against high-profile lawyer

The legal battle between Ecuador and oil firm Chevron has taken a new turn, as a New York Court is investigating fraud claims against the lawyer who helped Ecuador win its case in 2011. Chevron was ordered to pay a record $19 billion for environmental damages caused in the country's Amazon region, Oil Price reports.

Humala's approval hits lowest point
Rating has dropped by 27 points since March

The approval rating for Peruvian President Ollanta Humala (left) hit its lowest point in his term. A poll by Ipsos showed only 27 percent of Peruvians approve of Humala in September, down from 29 percent in August. "Just like with his predecessors, Humala is suffering from constant deterioration in his approval. Citizens complain mostly about unfulfilled promises," said Ipsos director Alfredo Torres, Reuters reports.

Venezuela to unveil new foreign-exchange system 
Shortages of goods are stoking one of the world’s highest inflation rates 

Venezuela will unveil a new foreign-exchange system as the bolivar slides to a record low in black-market trading, Finance Minister Nelson Merentes said. "We want to use this market to encourage the private sector to sell their dollars in a transparent, logical and rational way in a market as they did before,” he said, referring to the new system, Bloomberg reports.

Region faces three major obstacles to digitalization
Twenty-one percent of Latin Americans live in rural areas

Latin America faces lack of infrastructure, poverty and remoteness as three major obstacles for developing  its digital services industry, a study by Signal Telecoms Consulting showed. Data from the International Foundation for Agricultural Development showed that 21 percent of Latin Americans live in rural areas, of which a quarter live on less than $2 a day, Rapid TV News reports.

MOREOVER

Argentina to boost software industry Latin American Herald Tribune

Workers at Shougang Peru mine end 30-day strike SteelGuru

Argentina ratifies interest in Mercosur MercoPress

Claro takes over-the-top service to Chile Rapid TV News 

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