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October 22, 2013

EXCLUSIVE Consortium wins Brazil's Libra oilfield 
Protests and low participation from major firms set clouds over country's largest auction

A consortium of companies made up of Anglo-Dutch Shell, French Total, China's PetroChina and its affiliate China National Offshore Oil Company won the bid to Brazil's Libra oilfield on Monday. But the auction came amid tensions as a union strike with the participation of 90 to 100 percent of state oil company Petrobras’ work force protested outside the company's headquarters, Latin Business Chronicle reports.

Mexico's VivaAerobus places largest Airbus order in Latin America
Firm plans to replace entire fleet by 2016

Mexican budget airline VivaAerobus signed a purchase agreement for 52 Airbus A320 aircraft, the largest single Airbus order from a single company in Latin American history. The company plans to replace its entire existing fleet with the Airbus model by 2016. "It is an important milestone for our customers, shareholders and staff,” said CEO Juan Carlos Zuazua, Aviatimes reports.

Irish President on Central America tour
Aim of trip is to bolster economic and cultural ties

Irish President Michael D. Higgins (left) is on a 12-day tour of Mexico, Costa Rica and El Salvador. The trip aims to boost economic, trade and cultural ties with the three countries. Some of the most original thinking in sciences and economics was coming from Latin American thinkers where economic growth, sustainability and poverty reduction were being combined in the same model, he said, The Irish Times reports.

Colombia considers tax cuts to boost local auto assembly
Move would help locally produced cars regain market share lost to imports

Colombia is considering eliminating import tariffs on auto components, in an attempt to boost local auto assembly, according to Finance Minister Mauricio Cárdenas. Reducing or eradicating protective tariffs would make it more difficult for local component manufacturers to compete but would lower the cost of automobile assembly overall Reuters reports.

IMAX and Cinepolis to expand presence in Latin America
Eight screens to be installed in Brazil, Guatemala, Colombia, Peru and Panama 

IMAX and Mexican movie theater chain Cinepolis announced a joint venture to install eight new IMAX theaters in Latin America. The new theaters will be installed in existing Cinepolis complexes. Four of the planned screens will be opened in Colombia, and one each for Guatemala, Brazil, Panama and Peru, MarketWatch reports.


Cuba urges United States to end embargo Fox News Latino

Chile's property market heating up Global Property Guide

Peru's electricity sector grows at an annual average rate of 30 percent Andina

Latin American steel remains stable Steel Times International Magazine

Cuba sees surge in U.S. visitors Travel Weekly

Brazil's Bradesco cuts revenue forecast Reuters

Brazil imports $5 billion worth of textiles Fibre2fashion 

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