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October 15, 2013

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EXCLUSIVE Google looks for Latin American talent
Firm creates contest for developers to make innovative apps and boost small enterprises

With the aim of bringing attention to Latin America’s tech developers, and working to help the region’s small and medium enterprises, Google launched a competition last week which it hopes will do both. The new program, called Developer Bus, invites developers in four Latin American centers of the tech industry: Buenos Aires, Bogota, Mexico City, and São Paulo, Latin Business Chronicle reports.

Chile doubles green energy goals seeking new projects
Utilities must get 20 percent of power through renewables by 2025

Chile doubled its renewable energy goals to 20 percent and is considering bids for contracts in 2015 to sell electricity, as it attempts to boost investment in the renewable energy sector and lower dependency on imported fossil fuels. By 2025, utilities must get 20 percent of their power through renewable sources, according to a goal signed into law by President Sebastián Piñera, Bloomberg reports.

Mexico is prepared for any US default
Central bank says country has enough liquidity

The head of Mexico's central bank, Agustín Carstens (left), said Mexico has the necessary liquidity to handle the extreme and unlikely event of any US debt default. Carstens highlighted the country's reserves of $170 billion and a flexible credit line from the International Monetary Fund. But Mexican economists say the country could face an "extreme situation" if the US fails to raise its debt ceiling, Reuters reports.

Trafigura and Mubadala to buy controlling stake in Brazil's MMX
Companies payed $400 million and assumed debt for 65 percent of Eike Batista's firm

Dutch commodities trader Trafigura and Emirates-based Mubadala agreed to buy a 65 percent stake in Brazilian Eike Batista's MMX Mineracao & Metalicos for $400 million. MMX controls the Sudeste port in Rio de Janeiro state, and under the new deal, Trafigura will provide a route to Europe and Asia for iron-ore producers in land-locked Minas Gerais, Bloomberg reports.

Rousseff: Brazil is committed to improving investment conditions 
President pledged to maintain stable prices and keep a flexible exchange rate

The Government of Brazil is committed to improving conditions for investment and maintaining a solid economy, President Dilma Rousseff said during the inauguration of an electrical components factory in Minas Gerais state. "In parallel we're implementing policies to reduce costs for industry," Rousseff added, Nasdaq reports. 

MOREOVER

Bolivia says US and Pacific Alliance conspiring against Unasur MercoPress

Peru's agricultural exports to Brazil drop 9.2 percent Andina

South Korea's GS Caltex drops Brazilian refinery plan Reuters

Havana hosts international sugar sector fair Radio Cadena Agramonte

Spain's Ezentis wins Telefónica Chile fibre optic contract Reuters 

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