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December 3, 2013

EXCLUSIVE Mexico's tax reform: A guide
LBC spoke with Ernst & Young partners about the challenges and changes the law is set to bring

During the Latin Trade CFO Forum in Mexico City, LBC spoke with Alfredo Álvarez and Enrique Pérez Grovas, partners and Latin American Business Center Leaders at Ernst & Young, about Mexico's proposed tax reform. They believe it will not add burdens to the national corporate sector, but will pose challenges in other areas, Latin Business Chronicle reports.

Fifteen Latin American countries to boost sustainable development
Governments to encourage small enterprises to take social and environmental responsibilities

A group of fifteen Latin American and Caribbean countries approved a declaration to strengthen sustainable development in the region. The document was approved during the Conference of Latin America and the Caribbean Ministers of Industry, and among the countries involved are Brazil, Mexico, Costa Rica, Venezuela, Paraguay, Ecuador, St. Lucia and Cuba, Bernama reports.

Obama to meet with Colombia's Santos
Talks to focus on bilateral economic relationship

U.S. President Barack Obama (left) will host his Colombian counterpart Juan Manuel Santos at the White House on Tuesday. The meeting will focus on the countries' growing economic relationship and the development of the peace talks with Farc rebels. Santos said he plans to ask Obama to create a similar initiative to John F. Kennedy's Alliance for Progress, in order to help rebuild the frayed relations with the region, Reuters reports.

Brazilian mining giant Vale to invest $14.8 billion next year
Amount is 9.2 percent lower than this year's budget

Brazilian mining firm Vale approved an investment budget worth $14.8 billion for next year. Some $9.3 billion of the total were earmarked for project execution, of which 58 percent will be spent on the firm's iron ore and distribution network, which make most of the company's revenues. Vale reported net profit of $3.5 billion for this year's third quarter, France24 reports.

South Africa's Bidvest challenges Chile's Adcock takeover 
Johannesburg-based firm launched court action against CFR Pharmaceutical's bid

A group led by South Africa's Bidvest challenged Chile's CFR Pharmaceutical's $1.2 billion bid to take over drugmaker Adcock Ingram. Bidvest sought nearly a third of Adcock's shares and launched a court action against the Chilean firm's bid. Bidvest teamed up with Community Investment Holdings and offered Adcock $393 million for a 34.5 percent stake, Reuters reports.


Sweden's Hexagon AB acquires Chilean software firm Pixis MarketWatch

GDF Suez to build 500 Megawatt thermal plant in Peru UPI

Brazilian insurance market to remain stable in 2014, says Fitch Yahoo Finance

Blackout darkens half of Venezuela ahead of local elections Bloomberg

Korean consortium wins gas plant project in Chile BusinessKorea

PDVSA in talks with Valero to restart five Aruba refinery units CNBC

Aeromexico launches new Chicago-Mexico seasonal flights Chicago Tribune

Itau BBA hires Mexico CEO with plan to open broker-dealer Bloomberg

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