NSA case gives advantage to Brazilian tech firms
Cisco Systems and Huawei Technologies are losing strength in world's fifth telecoms market
The Brazilian government has intensified talks with local technology firms such as Datacom and Padtec, betting they will be able to deliver better protection against the possibility of security weaknesses in foreign products. For now, the talks are focused for government software, but they pave the way for the firms to participate more in the nation's telecoms sector, Bloomberg reports.
Argentina plans on offering Repsol $1.5 billion for YPF
Amount is only a fraction of the $10 billion the Spanish firm is seeking
The government of Argentina is preparing to offer Spanish oil firm $1.5 billion in cash, as compensation for the nationalization of the South American country's main oil company YPF in 2012. But the offer is likely to be rejected and could raise tensions between the two countries, as the offer is a fraction of the $10 billion Repsol is seeking, Reuters reports
Volaris surges in first day of trading
Airline expects to add 15 U.S. destinations through 2016
Mexican airline Volaris saw its shares surge 15 percent to $1.41 at the close in Mexico City, after making its debut in the Mexican Stock Exchange on Wednesday. The airline raised some $346 million in its initial public offering, the first by a Mexican airline in two years. Volaris flew 23 percent of domestic passengers up to July this year, and has almost doubled its market share in the past five years, according to official data, Bloomberg reports.
Investors remain optimistic about Peru's economic growth
Major mining and infrastructure plans fuel positivity
Investors are optimistic on Peru's economic growth and its leadership role in the region, said the National Confederation of Private Business Associations. "There is no crisis, Peru's growth rate is forecast between 5 and 6 per cent this year, a high rate compared to other countries in the world," said the association's President Alfonso García Miró, Bernama reports.
Colombia plans to increase oil exploration
Country still lags behind Brazil and Venezuela in terms of reserves
Colombia is seeking to boost its oil exploration, as the energy industry is increasingly vital to its economy. "We must keep up exploration activity in all sectors in order to preserve reserves for the long term," said German Arce, president of the National Hydrocarbons Agency in Colombia. Oil investments in the country reached $5.5 billion last year, GlobalPost reports.
ICTSI and PSA to jointly develop Colombia's Aguadulce port Seatrade Global
Toyota to increase Argentina plant capcity Automotive World
Costa Rica targets Latin American tourists Costa Rica News
Peru's Minsur sees 2013 tin output at 30,000 tons Reuters
Brazil auctions first of flurry of highway concessions CNBC