November 14, 2013

Abel Halpern November 14, 2013

US official: China's presence in Latin America not a threat
Trade and investment relationships are different, says Roberta Jacobson

China's increasing engagement in Latin America is not seen as a threat, said Beijing-based Roberta Jacobson, US Assistant Secretary of State for Western Hemisphere Affairs. The cooperation between the US and China in Latin America can be win-win-win for all three, the official said. Bilateral trade between Latin America and China reached more than $261 billion last year, Xinhua reports.

Mexico's David Martínez buys control of Telecom Argentina
Shares of Buenos Aires-based firm have more than doubled this year

Mexican billionaire David Martínez agreed to buy control of Telecom Argentina in a $960 million deal. His investment firm Fintech will pay about $860 million for Telecom Italia's 22.7 percent indirect stake in Telecom Argentina and $100 million for agreements related to the deal, according to a statement from the Italian carrier, Bloomberg reports.

Maduro closer to ruling by decree
Lawmakers expected to make decision this week

Venezuelan President Nicolás Maduro moved a step closer to getting the votes he needs to rule by decree, after his party ousted opposition lawmaker María Mercedes Aranguren from parliament. Maduro's United Socialist Party of Venezuela is one vote shy of the three-fifths majority it needs to give the leader the power to rule by decree for one year. Yahoo News reports.

IMF to review Argentina's progress on economic data in December
Country was censured by Fund in February this year after supplying poor data

The International Monetary Fund said it will review Argentina's progress on improving its economic statistics in December. Argentina was censured by the Fund in February this year for supplying poor data on gross domestic product and inflation. For years critics have said the Argentine government vastly understates inflation and overstates growth for political and other ends, MercoPress reports.

Mexico's Sigma Alimentos bids $908 million for Spain's Campofrio
Spanish firms seek investors as economy emerges from a five-year slump

Sigma Alimentos, subsidiary of Mexican conlgomerate Alfa, said it is bidding $908 million for Spain's Campofrio Food Group. The Mexican company has made agreements to boost its stake in the Madrid-based food maker to 44.5 percent and the deal is backed by Campofrio Chairman Pedro Ballvé, Bloomberg reports.

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