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November 5, 2013

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Mexico and Venezuela to start trade talks next year
Foreign ministers agree also to renew an air agreement and to promote and protect investment

Mexican Foreign Secretary Jose Antonio Meade and his Venezuelan counterpart Elías Jaua agreed to start conversations next year leading to the signing of a trade accord. The two ministers agreed to hold in 2014 the second meeting of the Permanent Binational Commission, as well as to update the legal framework guiding the relationship between the two countries, Fox News Latino reports. 

Humala: Peru to maintain leading role driving Latin American growth
Central reserve bank forecasts 6 percent growth for the country

Peruvian President Ollanta Humala said his country will maintain its leading role in driving growth in Latin America by posting Asian growth rates. He ruled out an economic slowdown in Peru, adding it has only experienced a temporary bump due to the international financial crisis. The country's central reserve bank projects 6 percent growth for Peru, Andina reports.

Guatemala withdraws from Petrocaribe
Government failed to negotiate favorable purchase rates

Guatemala announced its withdrawal from the Venezuela-led Petrocaribe oil alliance, after the Central American country's government failed to negotiate favorable purchasing and financing rates. Guatemala was seeking an interest rate of below 2 percent on its deferred purchases of Venezuelan oil. "We did not get the benefits that the country hoped for," said Karen Cardona, spokeswoman for vice president Roxana Baldetti (left), Reuters reports.

Mexico's Fibra Uno seeks to raise $1.93 billion in short-term debt 
Firms hopes to take advantage of record-low rates

Mexican real estate investment fund Fibra Uno is seeking to raise $1.93 billion in short-term debt to refinance its debt and invest in new acquisitions. The company is hoping to take advantage of record-low rates, after the Banco de Mexico last month lowered its benchmark interest rate by 25 basis points to 3.5 percent, its lowest-ever level, Reuters reports.

China's Chinalco group shorlisted to bid for Glencore's Peru mine
Consortium has offered some $5 billion for Las Bambas copper project 

A group led by Aluminum Corp. of China, Chinalco, was shortlisted to bid for Glencore Xstrata's Las Bambas copper project in Peru. The company is leading a bidding consortium that’s offered about $5 billion for the mine, which Glencore agreed to sell to obtain Chinese regulatory approval for its $29 billion takeover of Xstrata this year, Bloomberg reports. 

MOREOVER

Mexico's ICA in winning consortium for Colombian pipeline Reuters

Brazil admits spying on U.S. and other diplomats USA Today

Sony and HBO Latin America renew accord for the region Hollywood Reporter

Brazil's hotel sector builds itself up for World Cup Miami Herald

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