EXCLUSIVE Latin America's new trade routes
Cross-border commerce is increasingly being facilitated by the Internet
E-commerce is booming in Latin America, and an increasing share of that is taking place across borders. This represents an important opportunity for the region’s exporters, logistics companies, and a boon for the region’s consumers. Latin Business Chronicle spoke with PayPal’s José Fernández da Ponte, Director of International Trade for Latin America, about some of these developments.
Mexico's central bank cuts economic growth forecast by half
Country's GDP is expected to grow between 0.9 and 1.4 percent this year
Mexico's central bank cut this year's growth forecast for the country by half citing stagnant exports and a slowing construction industry. Mexico's economy is now expected to grow between 0.9 to 1.4 percent this year, down from previous forecasts of 2 to 3 percent. Domestic demand and industrial output were hit by twin hurricanes in September and less public spending, Bloomberg reports.
América Móvil invests in Israeli app firm
Partnership will introduce Mobli to millions in Latin America
América Móvil, the telecoms company controlled by Mexican billionaire Carlos Slim (left), has announced a strategic investment in Israel-based Mobli, a mobile photo and video sharing app. Moshe Hogeg, founder and chief executive of Mobli, said the new partnership will enable Mobli to reach millions of users in Latin America through América Móvil, Reuters reports.
Quito and Chicago sign historic sister airport agreement
Accord aims to boost bilateral business and tourism
Government and aviation authorities from Chicago and Quito, Ecuador, signed an historic memorandum of understanding that links Chicago O'Hare International Airport and Quito's Mariscal Sucre International Airport. The two airports now plan to discuss ways of promoting tourism and business between the two countries, Digital Journal reports.
Standard & Poor's may wait for Brazil's elections to decide rating
Decision allays fears that the country could lose its BBB rating early next year
Standard & Poor's said it could wait until after Brazil's presidential elections in late 2014 to decide whether to lower the country's credit rating. The decision allays fears that the country could lose its BBB rating early next year. "If things are looking not great, but holding on, it could be that we want to see through what signs will be coming from an incoming government," said analyst Lisa Schineller, the GlobalPost reports.
Brazilian homebuilder Gafisa's quarterly profit triples Reuters
Why digital marketers should consider Latin America Mashable
Besalco slumps for ninth day in Chile Bloomberg
Argentina and Switzerland aim to sign tax accord Buenos Aires Herald