EXCLUSIVE Olam maximizes Latin America's potential
CEO: Region is investing heavily in infrastructure, an area of great interest for Asia
For over a decade, global commodity trader Olam International has been established in Latin America. "Latin America and Asia are regions where the most substantial opportunities for investment and market expansion exist," says Senior Vice-President Juan Antonio Rivas, adding that while other regions face challenges, Latin America stands out as a preferred market for Asian companies, Latin Business Chronicle reports.
Rosneft to invest $13 billion in five Venezuelan projects
Plans include buying part of OAO Lukoil's stake in the Junin 6 block
Russian oil producer Rosneft plans to invest $13 billion in five projects in Venezuela over the next five years. Plans include buying part of OAO Lukoil's stake in the Junin 6 block in the Orinoco Oil Belt, according to Rosneft's head for Venezuela, Jerome Auzenne. After the deal, the company will raise its stake in the Junin 6 project to as much as 32 percent, Bloomberg reports.
Rousseff and Mujica to meet in Brasilia
Mercosur and Argentina top of the agenda in meeting
Uruguayan President José Mujica (left) is visiting his Brazilian counterpart Dilma Rousseff to discuss Mercosur negotiations, disputes with Argentina and economic cooperation. The main issue for both leaders are the upcoming round of talks with Europe over a long-delayed trade accord which needs support from all Mercosur members, but is still awaiting confirmation, particularly from Argentina, MercoPress reports.
Latam Airlines rises most in 14 months as valuation lures buyers
Company rose 5.2 percent at the close in Santiago, Chile
Latam Airlines rose 5.2 percent to $12.41 at the close in Santiago, Chile, the highest in 14 months, as the stock’s lowest valuation in at least a decade lured buyers. But the airline’s shares have fallen 43 percent this year as it works to reach saving targets from its takeover of Brazil’s TAM and after receiving approval in June to sell $1 billion in new shares to fund expansions and reduce debt, Businessweek reports.
Brazil orders Google to hand over Street View data
Search engine giant faces daily fines of up to half a million dollars if it fails to comply
The Brazilian Government has given Google until Saturday this week to to hand over private data from its Street View program. The search-engine giant faces daily fines from $50,000 to $500,000 if it fails to comply. The Brazilian Institute of Computer Policy and Rights said Google Street View's software enables it to access private networks and intercept personal data, France 24 reports.
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