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November 15, 2013

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EXCLUSIVE Chile elections: A second term for Bachelet?
Former president proposes tax reforms and more expenditure in health and education 

Chileans will go to the polls on Sunday to choose their next president. Most polls suggest that former President Michelle Bachelet, who served the role from 2006 to 2010. Latin Business Chronicle spoke with Alfredo Coutiño, director for Latin America at Moody’s Analytics, about what can be expected from a second Bachelet term.

Colombia fines two Carlos Slim telecoms companies
Both firms were each fined the maximum of $612,000 under country's laws

Colombian authorities fined Carlos Slim's Telmex Colombia and Telmex Comunicaciones, for failing to respond to users' concerns. Both companies were fined $612,000 each, the maximum under Colombia's telecoms sector laws. The firms were accused of violating provisions which regulate the reception of users' requests, complaints and claims, GlobalPost reports.

UK becomes Pacific Alliance observer
Bloc's exports account for 55 percent of region's total

The UK has been granted observer status in the Pacific Alliance, Chilean Minister for Foreign Affairs, Alfredo Moreno (left) announced. “We are thankful to Chile, and the other Pacific Alliance countries, for this opportunity,"said Jon Benjamin, UK ambassador to Chile. “We will be organizing a promotional event on the Pacific Alliance in London, hosted by British Minister of State for Latin America, Hugo Swire," he added, MercoPress reports.

Malaysian firms see Chile as gateway to Latin American market
South American country's open economy and ease of dong business attract investment

Chile is establishing itself as the gateway to Latin America for Malaysian companies. Firms from the Asian country are attracted by Chile's open economy, ease of doing business and its reputation for solid financial institutions. Malaysia is the largest exporter of medical gloves to Chile, the fifth largest exporter of furniture and a leading exporter of palm oil products Bernama reports.

Venezuela to give oil joint venture partners more autonomy
Move seeks to boost country's daily production to 4 million barrels per day by 2019

Venezuelan Oil Minister Rafael Ramírez said foreign partners in heavy oil ventures will be given more autonomy. The aim is to boost the country's crude production from 1.2 million barrels per day to 4 million barrels by 2019. “If companies have the capacity to bring in additional rigs for the joint ventures, we have no problem,” Ramírez said, Bloomberg reports.

MOREOVER

Mexico's Fibra Hotel joins Marriott to build 20 hotels Reuters

Peruvians are biggest buyers of diamonds in Latin America Peru this Week

Argentina's central bank loses more than $1 billion each month Quartz

Colombia's Grupo Aval plans $1.2 billion share issue in local market Reuters

Brazil's economic activity unexpectedly contracts in September Bloomberg

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