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November 13, 2013

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EXCLUSIVE Guatemala shines in Ease of Doing Business
Country jumped 14 places over last year and is one of the top five most improved economies

Due to President Otto Pérez's efforts, Guatemala is named as one of the world’s five most-improved economies, jumping 14 places from 93 to 79 in the latest Ease of Doing Business ranking, published by the World Bank. This makes it the sixth easiest destination in Latin America to do business, after Chile, Peru, Colombia, Mexico, and Panama, Latin Business Chronicle reports.

Telefónica seeks partners in Mexico to challenge Carlos Slim
Firm has approached Iusacell, Televisa and Megacable

Spain's Telefónica is seeking to challenge billionaire Carlos Slim's dominance in Mexico. Telefónica has approached companies including Iusacell, co-owned by Grupo Salinas and Grupo Televisa. “It makes perfect sense for Telefonica to boost its presence in Mexico, a market which has great growth potential,” said Alberto Espelosin, from Madrid-based Abante Asesores, Bloomberg reports.

Chevron to pay $9.5 billion to Ecuador
Fine was reduced from $18 billion

U.S. oil giant Chevron was ordered by Ecuador's Supreme Court to pay $9.5 billion for damages to the South American nation's Amazon basin. The fine, to be paid to the people of Lago Agrio, in Sucumbios province, is almost half of the original amount of $18 billion the court had originally seeked. Chevron inherited the environmental lawsuit when it acquired former rival Texaco in 2001, The Standard reports.

PetroChina to buy Petrobras's assets in Peru for $2.6 billion
Deal includes three gas and oil fields

Beijing-based PetroChina will buy Petroleo Brasileiro’s assets in Peru for $2.6 billion. The deal includes three blocks of oil and gas fields, of which Petrobras wholly owns two and a 46 percent stake in the third. Petrobras, the most indebted publicly traded oil company, has been selling assets to help finance projects in Brazil’s deep waters, Bloomberg reports.

CEO: Mexico is becoming Nissan's export hub for the Americas 
Company opened its third factory in the country 

Nissan will build 1 million cars in Mexico by 2016, cementing the country's position as the export hub for the Japanese automaker in the Americas, Chief Executive Carlos Ghosn said. His comments came during the inauguration of a $2-billion plant in the state of Aguascalientes. "We like Mexico because it allows us to be competitive," Ghosn said, Reuters reports.

MOREOVER

Santiago is new luxury capital of South America International Business Times

Latam Airlines says passenger traffic up 31 percent Reuters

Movile CEO: Campinas will be the Brazilian Silicon Valley Forbes

Cuba lands first direct flight from Poland Economía Cubana

Azerbaijan freezes investments worth $3.8 billion in Mexico Armenpress

Colombian president ratings move up again Chicago Tribune

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