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December 12, 2013

EXCLUSIVE Interview: Zurich Insurance regional CEO
Latin America will continue to be the sleeping giant in the insurance market, says Antônio Cássio

LBC interviewed Antônio Cássio, Zurich Insurance Group's CEO for Latin America. During the Latin Trade Symposium, held in Miami, Cássio highlighted the important opportunities for the insurance market in Latin America due to the growth of the middle class, Latin Business Chronicle reports (Link to YouTube video in Spanish).

Global demand to boost growth in Latin America next year: UN
Region's GDP is seen growing 3.2 percent next year

A favorable global outlook next year is expected to boost growth in the economies Latin America, according to the United Nations' Economic Commission for Latin America. The region's GDP is expected to grow 3.2 percent next year, higher than this year's 2.6 percent, while consumer spending is also seen rising, but at a slower pace than this year, Reuters reports.

Argentina to offer export incentives
Aim is to increase central bank's international reserves

Argentina's central bank is planning to offer incentives for exporters to speed up sales by giving them peso-denominated notes which would compensate for any subsequent devaluation of the currency. Central bank President Juan Carlos Fabrega (left) is seeking to give exporters incentives to sell grains without waiting for a stronger dollar, Bloomberg reports.

French President François Hollande to visit Brazil to bolster ties
Bilateral trade between both countries currently totals $8.8 billion

The President of France, François Hollande, will start a two-day visit to Brazil on Thursday seeking to boost ties with Latin America's number one economy. Several contracts are expected to be signed during the visit, including energy firms Total and Areva and a telecoms satellite deal with French-Italian firm Thales Alenia Space, Yahoo News reports.

Mexican group to invest $621 million in Spain's Banco Popular
Investors include billionaire Antonio Del Valle, who controls Grupo Financiero Ve por Más

A group of Mexican investors have announced they will invest $621 million in Madrid-based Banco Popular. The move makes Banco Popular the latest Spanish bank to tap Latin American investors seeking to boost their operations after a five-year slump. Investors in the operation include billionaire Antonio Del Valle, who controls Grupo Financiero Ve Por Más, Bloomberg reports.


ArcelorMittal and Bekaert announce new agreement in Latin America SteelGuru

Mexico's lower house passes energy overhaul Bloomberg

Spotify launches in 14 Latin American countries The Verge

Bolivia's Morales wants plant completed ahead of schedule Fox News Latino

Mexico and Kuwait strengthen bilateral cooperation Kuwait News Agency

Cuba becoming popular with British tourists eTurbo News

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