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November 21, 2013

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EXCLUSIVE Grupo Kaybee: Pioneers of Latin trade
CEO: Biggest opportunities in Latin America lie in infrastructure and education

Singapore’s Grupo Kaybee, whose portfolio spans from lifestyle and consumer products to packaged food and industrial goods, has long capitalized on the potential of the region by expanding their market. CEO Govind Karunakaran believes that the biggest opportunities in Latin America lie in infrastructure and education, Latin Business Chronicle reports.

Investor pessimism on Brazil soars to record high
Rousseff to end term next year with with slowest four-year expansion of GDP since 1990

Only 10 percent of investors said Brazil can avoid a credit rating downgrade in the next year, a Bloomberg Global Poll revealed. Fifty-one percent said they are pessimistic about President Rousseff's policies, compared to 22 percent when she took office in 2011. Last month Moody’s followed Standard & Poor's in lowering its outlook on Brazil to stable from positive, Bloomberg reports.

Venezuela signs deal with Samsung
Accord follows similar deal with Mexico's Mabe

The Venezuelan Government signed a deal with Samsung to jointly produce consumer electronics and appliances. The deal was signed by Venezuelan oil minister Rafael Ramírez and the South-Korean company's regional manager, Hyun Chil Hong. The first step in the deal is the construction of a $50-million production plant. In the meantime, the Government said it will import some 400,000 appliances from Samung's Brazil, Mexico and Argentina plants, ABC News reports.

Argentina's commerce secretary unexpectedly resigns
Guillermo Moreno is under investigation for allegations of abuse of power

Argentina's commerce secretary Guillermo Moreno resigned Wednesday, one day after President Cristina Fernández de Kirchner announced changes to her Cabinet. Moreno, who tried to jail economists for publishing independent inflation numbers, is under investigation for allegations of abuse of power, Fox News reports.

Colombian investments in Peru reach $8 billion this year
Companies are attracted to Andean nation's strong economic growth

Colombian businesses have invested $8 billion in Peru this year, according to Carlos Caro, President of the Colombia Business Council. Next year, investments are expected to grow 8 percent. There are currently some 300 Colombian firms in Peru, in sectors such as electricity, gas, infrastructure and sevices, Caro said, Andina reports.

MOREOVER

Honduras and Peru sign mining cooperation pact Mineweb

Colombia's Santos seeks re-election The Guardian

Banco do Brasil looks to Asia for $1 billion loan Reuters

Pemex CEO criticizes Repsol chairman's earnings Reuters

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