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October 31, 2013

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Pacific Alliance leads the region in Doing Business report
Chile ranked highest in Latin America at number 34, while Venezuela came in last at 181

The four member countries of the Pacific Alliance, Mexico, Chile, Peru and Colombia, were ranked the best in Latin America in the World Bank's latest Doing Business report. The alliance was far ahead of Mercosur. Chile ranked highest in the region, at number 34 of 189, followed by Peru at 42, Colombia at 43, Mexico at 54, Bernama reports.

Mexico rejects Sherwin-Williams's appeal to bid for Comex
Anti-trust regulator says resulting combined firm would be able to set artificially high prices

Mexico's anti-trust regulator rejected an appeal by U.S. paint company Sherwin-Williams against an earlier block to bid for paint maker Comex. The company is now reviewing the decision and considering its options, which include refiling with the regulator, the company said. The regulator said the resulting merged company would be able to set artficially high prices, Reuters reports.

Barrick to halt Pascua-Lama mine
Firm seeks to conserve cash

Canada's Barrick Gold Corp. said it will temporarily suspend construction work on its Pascua-Lama mine on the Chile-Argentina border in order to conserve cash. But the company said it will continue to work on legal and environmental permits required for the mine. CEO Jamie Sokalsky (left) is trying to lower costs by reducing production at some mines and selling assets to focus on the company’s most profitable operations after gold slipped into a bear market in April, Bloomberg reports.

Mosaic seeks buyers for its Argentina and Chile operations
Company is the largest producer of phosphate in Argentina

Mosaic is looking for bidders to purchase its operations in Argentina and Chile, the company said. “After significant evaluation and review, Mosaic has decided to pursue a sale of our operations,” said Rob Litt, a Mosaic spokesman. The firm produces phosphate north of Buenos Aires in a factory near Rosario, Argentina, and handles distribution from Chile, Businessweek reports.

International Monetary Fund applauds Peru's economic inclusion
Organization counts the Andean nation among top four in the region for financial integration 

The International Monetary Fund hailed Peru's efforts to improve economic inclusion, highlighting the expansion of the country's employment rate, said the Fund's representative in the country, Kevin Ross. He also noted the Fund has praised Peru for being one of the four economies with greater financial integration in Latin America, Andina reports.

MOREOVER

Colombian government calls for business sector's help in peace talks Xinhua

Peru eyeing Taiwan travel market Andina

Anheuser-Bushch InBev profits rise on Mexican cost savings Reuters

Argentina bolsters ties with Caricom MercoPress

Fiat cuts 2013 profit forecast on weak Latin American sales Selftrade

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