EXCLUSIVE Multilatina and MNC third quarter indexes
Peru's Avicorp saw a 20 percent jump in sales
Food and beverage, mining and retail companies continued to be the strongest performers in this year's third quarter Multilatina Index, with Peru's Alicorp seeing the highest jump in sales with 20 percent. But, in the MNC Index, the 25 leading foreign-based multinationals with operations in the region saw steep declines, particularly Spain's Iberdrola, with a 43 percent drop in revenues.
EXCLUSIVE Interview: Santiago Fernández, regional Telefónica CEO
LBC interviewed Santiago Fernández Valbuena, CEO and Chairman of Telefónica Latin America, who discusses the importance of Latin América for the company, and the evolution of the region's telecoms industry (in Spanish).
Mexico's oil reform: a bumpy year ends on a high note
Potential benefits will depend on terms set by secondary legislation early next year
For the first time in 75 years, Mexico will end its monopoly on the oil industry, possibly attracting a wave of private investment into the sector. Financial markets reacted with enthusiasm after the bill was passed by Mexico's Senate. But the potential benefit of the reform will depend on secondary legislation early next year, which will specify types of contracts and government royalties, The Economist reports.
Peru's tourism lures Pacific Alliance
Investors eye corporate events hosting in Lima
Business leaders from Pacific Alliance members Mexico, Colombia and Chile are keen to invest in Peru's tourism sector, said Peruvian Tourism Minister Magali Silva (left). One group of investors is interested in developing the necessary infrastructure for organizing and hosting corporate events in Lima, Magali said. Her comments came during a business roadshow organized by non-profit organization, inPeru, Andina.
Colombia's Aval sees share sale worth $1.2 billion next week
Firm also expects to close purchases of two banks worth some $900 million by year-end
Colombian banking group Aval Acciones y Valores, may start selling $1.2 billion worth of shares as soon as next week. The company is expecting to receive approval for the move by authorities this weekend, said the firm's CEO, Luis Carlos Sarmiento Gutierrez. The company also expects to close the purchases of Grupo Financiero Reformador and BBVA's Panama unit by the end of the year, Businessweek reports.
Europe asks Mercosur to delay free trade proposals
Brazil wants to sign a free trade accord between both regions next year
The European Union has asked Mercosur members Brazil, Argentina, Uruguay and Paraguay, to delay for one month the presentation of their proposals to kick-off free trade talks. The countries were due to present their proposals in Brussels next week. Brazil is hoping a free trade accord between Mercosur and Europe can be signed next year, Reuters reports.
Italy's Azimut buys stake in Brazilian investment firm Reuters
Isreali toolmaker CGW plans ventures in Brazil Reuters
Argentina prices rises fastest in two years, sparking looting Businessweek
Outlook for Chilean insurance market remains stable: Fitch Business Wire