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October 28, 2013

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Argentine President suffers election blow in Buenos Aires
Early results report shows Cristina Fernández de Kirchner's party lost in capital by wide margin 

With two-thirds of the votes counted after elections last Sunday, Argentina's opposition candidate Sergio Massa, of the Renovation Front party, is leading with 43 percent of votes in Buenos Aires, 12 points above President Cristina Fernández de Kirchner's candidate Martín Insaurralde.  Massa is now expected to start gathering support for a 2015 presidential bid, The Telegraph reports.

Rousseff and Mantega: IMF report on Brazil is incoherent
Evaluation on country's fiscal policies and debt should be revised, says Finance Minister

An International Monetary Fund report said Brazil's competitiveness has eroded in recent months, and lowered its growth forecast from 4.2 to 3.5 percent. But President Dilma Rousseff said Brazil was fulfilling its responsibilites and making progress in several areas, while Finance Minister Guido Mantega said the report was incoherent and made by people unfamiliar with Brazil's measures, MercoPress reports.

Brazil's OGX pushes Ibovespa gain
Eike Batista's firm jumped 38 percent this month

Brazil's Ibovespa is set for its best streak of monthly gains in four years after signs of faster growth in China boosted commodity producers and Eike Batista’s (left) OGX Petroleo & Gas Participacoes rebounded from a record low. The stock benchmark has gained 3.5 percent since September 30, poised for a fourth consecutive monthly advance. That would be the longest rally since a six-month stretch in 2009, Bloomberg reports.

Carlos Slim increases indirect stake in América Móvil
Grupo Carso and Grupo Financiero Inbursa have both bought stock in telecoms firm

Mexican billionaire Carlos Slim has increased his indirect stake in his telecoms company América Móvil to some 15 percent, according to the U.S. Securities and Exchange Commission. Slim's Grupo Carso and Grupo Financiero Inbursa bought $248 million and $9.5 million, respectively, in América Móvil stock since early August, Reuters reports.

Chilean court freezes Glencore project to analyze appeal
Opposition says permit given for the $733-million project last month was not legal

A Chilean appeals court has preventively suspended the Rio Cuervo hydroelectric project, owned by Origin Energy and Glencore Xstrata, to analyze an environmental appeal. Opponents to the plan say it would harm the country's environment, while lawyers from the prosecutor's office claim the permit for the dam given last month was not legal, Reuters reports.

MOREOVER

Japan and Colombia start third round of free trade accord talks Xinhua

Ecuador sees economy growing 5.1 percent next year Gulf Times

Economy woes pile up for Latin America's leftists BBC

Mexico and China face historic opportunity in bilateral ties Xinhua 

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