Region should press Maduro not to use decree powers
Opposition fears President could rig elections on December 15
Venezuela's opposition fears that if Maduro is given the power to rule by decree, he could use it to suspend or rig the upcoming elections on December 15, which polls show his government is likely to loose. But if Maduro manipulates the elections, Venezuela should be thrown out of Latin America's various clubs, The Economist reports.
Eight leaders to cancel attendance at Iberoamerican summit
This weekend's event will host 14 of Latin America's 22 Presidents
Fourteen of the region's 22 Presidents have confirmed their attendance at the Iberoamerican Summit, in Panama City this weekend. The leaders who cancelled were Argentina's Cristina Fernández, for medical reasons, and the Presidents of Brazil, Chile, Cuba, Venezuela, Guatemala, Ecuador and Uruguay, The Montreal Gazette
Mexican lawmakers seek tax changes
Urge higher rates for top earners in planned fiscal overhaul
Mexican lawmakers proposed changes to President Enrique Peña Nieto's (left) tax overhaul, urging higher rates for top earners. Lower House lawmakers proposed the planned top rate on a sliding scale to 35 percent to those who earn $233,100 a year, up from 32 percent Peña Nieto proposed. The Lower House finance committee approved the amendments in a vote late on Wednesday, after which it must then pass through the Senate, which is also likely to ratify it, Reuters reports.
Central bank: Economy of Paraguay to grow 13.6 percent this year
Expansion rate is highest in Latin America
Paraguay's central bank lifted its growth forecast for this year to 13.6 percent, up from a previous 13 percent, the highest in Latin America. Recovery in agriculture, expansion of livestock and meat industries and construction have all helped boost the economy, the bank said. Corn, soybean and manioc were the best performing crops this year, MercoPress reports.
Chilean central bank unexpectedly cut benchmark rate
Weak trade and less investment in mining among factors which contributed to decision
The central bank of Chile cut its benchmark rate from 5 to 4.7 percent, the first time since January 2012. The decision surprised economists, who had expected the rate to remain unchanged. In a statement, the bank said it made the decision based on a weaker outlook, less favourable financial conditions, less investment in mining and a worsening in trade, Nasdaq reports.
Armenia and Argentina discuss joint textile firm Fibre2fashion
Colombia emerges as regional wealth hub Funds Europe
Mexico's Lala plans international expansion GlobalPost
Brazil Sports Minister reverses decision to resign before World Cup Reuters
Brazilian hotel prices make favela guesthouses affordable option The Guardian
Moody's ratings seen irrelevant to Petrobras bond traders Bloomberg
Venezuela blocks Telefónica's price hikes Reuters
Eze Software Group expands presence in Latin America Business Wire