EXCLUSIVE BBVA is optimistic for Latin America
Bank sees growth in consumer credit and energy reforms as bright spots
Despite some troubling economic markers in Latin America this year, Spanish bank BBVA is optimistic about the 2014 forecast for the region. Latin Business Chronicle spoke with Nathaniel Karp, BBVA chief U.S. economist about his outlook for the coming year. According to BBVA predictions, Peru will be the region's most dynamic economy, growing almost 6 percent.
EXCLUSIVE Interview: President of SAS Latin America
LBC interviewed Jose Luis Sánchez, President of Latin America and Caribbean North of software giant SAS. Sánchez talks about the challenges the company faces in expanding its presence in the region, as well as the next important development for the software industry for businesses in Latin America (in Spanish).
Peru's main international airport to receive $850-million upgrade
Plan includes new parking platform and major passenger terminal
Peru's main air terminal, the Jorge Chávez International Airport in Lima, will receive an upgrade worth $850 million, the country's Ministry of Transport said. The project includes a new major passenger terminal covering nearly 7 million square meters, as well as a parking platform. The upgrade will be carried out by Lima Airport Partners, Bernama reports.
Venezuela to devalue bolívar by late March
Aim is to boost revenue and narrow budget gap
Venezuela plans to make the biggest devaluation of its currency since 2010 by late March next year. The move is an effort to narrow its budget gap and boost revenues, according to analysts, who said that the country will devaluate the bolívar rate 39 percent to 10.3 per dollar. Oil investments and tourist dollars will enter the country at the auction rate, which the government has not made public, instead of the official rate of 6.3 bolivars per dollar, Oil Minister and Economy Vice President Rafael Ramirez (left) said, Bloomberg reports.
Mexico's oil sector to be opened up immediately: President
Majority of country's 31 states have given green light to bill
Mexico's energy reform will be enacted immediately, said President Enrique Peña Nieto, who is currently on a state visit to Turkey. The majority of the country's 31 states have given green light to the bill, although a standing committee in Congress still has to approve. But once it does, "I will promulgate the reform immediately," said Peña Nieto, AFP reports.
UK says Argentina is bullying oil firms operating off Falklands
South American country threatened companies with heavy fines and asset seizures
The UK has accused Argentina of bullying oil firms operating off the Falkland Islands, after it threatened to punish companies with hefty fines, seizure of assets and prison sentences of up to 15 years. "It is shameful that Argentina is once again adopting bullying tactics in an attempt to strangle the Falkland Islands economy," said a UK Foreign Office spokesperson, The Independent reports.
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