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November 19, 2013

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EXCLUSIVE Starbucks brews success in Latin America
CFO for region Carlos Mario Estefan highlights importance of relationships in doing business 

Starbucks has seen some tremendous growth in Latin America since it's arrival to the region in 2002 in Mexico City. It now has 708 stores in 12 countries across the region. Latin Business Chronicle spoke with the firm's CFO for Latin America and the Caribbean, Carlos M. Estefan, about his job, challenges, triumphs, and what he considers the secret of being a good CFO.

OECD: Economies of Mexico and Brazil set to recover
Investment and exports have helped boost both countries

Economic growth in Brazil has started to recover as investment picks up, while in Mexico the economy is poised to bounce back along with exports, the Organization for Economic Co-operation and Development said. But there are some risks to growth, the OECD said, including uncertainty about the outcome of the U.S. budget debate, MarketWatch reports.

Pemex eyes stake in Repsol
Carlos Slim to take part in deal

Mexico's state-owned oil firm Pemex is seeking to acquire a 10 percent stake in Spanish oil group Repsol, adding to the 9.3 percent stake it already holds. Pemex is looking to make the acquisition in a partnership with billionaire Carlos Slim. If successful, it would make Pemex the largest stakeholder in Repsol. Other major Repsol stakeholders include Caixabank, Sacyr Vallehermoso, and Singapore's Temasek, Reuters reports.

Large companies enter race to operate Brazilian airports
Firms include Odebrecht, Ferrovial,Aéroports de Paris and Changi Airport Group

Several large international firms have entered the race to operate two airports in Brazil, a government official said. The airports are Rio de Janeiro's Galeao, and Belo Horizonte's Confim airport. Companies interested in the concessions include Spain's Ferrovial, Brazil's Queiroz Galvao, French operator Aéroports de Paris, and Amsterdam-based Schiphol, Reuters reports.

Argentina replaces head of central bank and Economy Minister
President also named Jorge Capitanich her new Cabinet Chief

Argentine President Cristina Fernández de Kirchner changed her Economy Minister and head of the country's central bank in her first day back to work following brain surgery on October 8. Deputy Economy Minister Axel Kicillof replaces Hernan Lorenzino, while Carlos Fabrega will become the new central bank chief in place of Mercedes Marco del Pont, Bloomberg reports.

MOREOVER

Argentina denied appeal in holdout creditor case Nasdaq

Venezuelan former official pleads guilty in U.S. bribery case New York Times

Region will need more aircraft to meet middle class demand Air Cargo World

Brazil's Fibria Celulose sells land in push for investment grade Yahoo News

Colombia targets Pacific coast oil exports amid U.S. shale boom Bloomberg

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