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November 12, 2013

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Peru and Brazil seek to boost trade and investment 
Among projects is a railway to increase east-west trade flow

Brazilian President Dilma Rousseff is in Peru to hold talks with her counterpart Ollanta Humala to strengthen bilateral trade and investment. "Over the next 20 years, Brazil will be the industrial and technological partner, and Peru the door to better access to Asia-Pacific markets for Brazilian trade," said Miguel Vega Alvear, head of the Binational Chamber for Trade and Integration, the GlobalPost reports.

Brazil's Vale sells stake in Norsk Hydro for $1.8 billion 
Rio de Janeiro-based miner is seeking to recover profit margins after a drop in commodity prices

Brazil's Vale sold its stake in Norweigan aluminum maker Norsk Hydro for $1.8 billion. Vale is looking to recover profit margins after commodity prices fell by selling assets, putting projects on hold and focusing on its more profitable iron ore business. DNB Markets and Morgan Stanley were joint global coordinators and book runners for the offering, Vale said, Bloomberg reports.

Mexico to name dominant telecom firms
Government seeks to level competition

Mexico's new telecommunications watchdog said it may identify this month which companies dominate the local market. "We'll be notifying the players very soon that according to our information could be predominant economic agents," said Gabriel Contreras (left), president of the Federal Telecommunications Institute. The companies will be subject to measures aimed at levelling the playing field in the country, Reuters reports.

United States warns Ecuador of fallout if it scraps bilateral treaty
Washington is South American nation's main trading partner

Ecuador's possible scrapping of a bilateral investment treaty with the United States could lead to loss of American investment in the country. "If the bilateral investment treaty is canceled that would obviously have a negative effect because US companies would be afraid to invest," Ambassador Adam Namm said, France 24 reports.

Chile's CFR considers pulling out of South Africa deal
Santiago-based firm is offering $1.3 billion in cash and shares

Chilean pharmaceutical company CFR threatened to pull out of a $1.3 billion deal with South African drug maker Adcock Ingram if it fails to gain support from the state pension fund that ranks as Adcock's biggest shareholder. CFR said it would consider looking for investments in other emerging markets if the South African government failed to support, Reuters reports.

MOREOVER

IMF chief sees economic storm clouds in Venezuela France 24

Bolivia willing to resume dialogue with Chile over sea dispute Bernama

Aerolíneas Argentinas Australia withdrawal to boost Qantas The Australian

Telecom Italia seeks to finalize Telecom Argentina sale Reuters

Latin America losing allure for global resources companies Globe and Mail

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