EXCLUSIVE Sakura Tech invests in its Latin future
Firm highlights growing interest in Asia-Latin America bilateral trade
Singapore-based plastic solutions specialist Sakura Tech arrived to Latin America in 2012, with the opening of a factory in Brazil. With bilateral trade between Asia and Latin America reaching $326 billion last year, Managing Director Razali Jaafar believes more Singapore and South East Asian firms can continue to ride on Latin America’s growth potential, Latin Business Chronicle reports.
Mexico Senate committees approve energy reform bill
Country moves closer to ending its 75-year oil monopoly
Mexico is a step closer to ending its 75-year oil monopoly after Senate committees gave general approval to a draft energy reform bill. The bill aims to stop a decade-long slip in output, and would allow private oil firms to partner with state-owned Pemex through profit and risk sharing, service contracts and licences, Reuters reports.
Peru to grow 5.6 percent in fourth quarter
Growth due to better investment mood: central bank
Peru's central bank president, Julio Velarde (left), said the country's economy is set to grow 5.6 percent in the fourth quarter. The figure is less than the 6.3 percent the bank had forecast for the period, but is an improvement on the third quarter's growth of 4.4 percent. The improvement is due in part to an improvement in the investment mood and primary sector, Velarde said, adding that the country's economy will grow between 5.1 and 5.2 percent this year, MSN Money reports.
Telefónica losing ground in key Latin America markets
Firm struggling to keep up with competitors such as DirecTV, América Móvil and Milicom
Spanish telecoms company Telefónica is losing market share to competitors in the Internet and pay-TV sectors in Latin America. Companies such as DirecTV, América Móvil and Millicom have all seen their broadband and TV subscription numbers rise over the past years, while Telefónica has seen market share drops of 9 percent in Brazil and 5.2 percent in Peru, CIOL reports.
Ecuador seeks 31 percent boost in exports to Emirates
South American nation wants to increase sales of bananas, processed food and flowers
Ecuador's investment promotion agency, PRO ECUADOR, is aiming to increase the country's non-oil exports to the Emirates by up to 31 percent. Among the products the agency is looking to boost are bananas, flowers and processed food. Ecuador's non-oil exports to the Middle Eastern country reached $3.6 million in this year's third quarter, Gulf News reports.
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