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December 19, 2013

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EXCLUSIVE Latin America's Top 10 CFOs 2013
The names on our list head some of the best-performing companies in the region

In this list, LBC highlights the Top 10 CFOs of the year based on their companies’ performance in the year, rapid growth, sound finances, and the introduction and continuation of sound corporate governance. Some of these names will be familiar to our readers as recipients of CFO of the Year at our annual CFO Forums held throughout the region, while others will no doubt be new names.

EXCLUSIVE Bank of America Merrill Lynch is bullish on region

In this LBC interview, Juan Pablo Cuevas, managing director of Global Transaction Services at Bank of America Merril Lynch, talks about his optimism about the region's growth. "We are bullish on Latin America," says Cuevas. While analysts see some headwinds for Brazil, Cuevas is confident the World Cup and Olympics will help keep its economy moving.

Man who coined BRICS sees boom in Mexico with reforms
Only a few economies rank higher in terms of economic initiatives, says Jim O'Niell

Economist Jim O'Neill, who coined the term BRICs, says the reforms in Mexico will boost the country's long-term growth to 5 percent, from the current 3 percent. “I can’t think of many other countries that have had a period of such deep reforms,” said O’Neill. Mexico was also the only major Latin American economy whose local-currency bonds gained this year in dollar terms, Businessweek reports.

Obama seeks stronger ties with Chile
Plans include Trans-pacific Partnership negotiations

U.S. President Barack Obama (left), called Chile's President-elect Michelle Bachelet to congratulate her for her victory and expressing his interest in improving and strengthening ties between both countries. "The president looks forward to working closely with President- elect Bachelet to advance our shared interests in the years ahead, " the White House said in a statement, Xinhua reports.

Sweden's Saab wins $4.5-billion Brazil fighter jet deal
Contract is one of the most valuable in emerging markets

Swedish aerospace and defence firm Saab has won a contract worth $4.5 billion to supply 36 fighter jets to Brazil. The deal is one of the most valuable in emerging markets. Boeing and Dassault were the favorites to win the deal, but the recent row between the U.S. and Brazil over NSA spying allegations harmed Boeing's bid, the BBC reports.

Venezuela's Banesco Group to buy Spain's NCG Banco
Sale is a step forward for Spain as it seeks buyers for banks rescued in a bailout last year

Venezuela's Banesco Group, controlled by billionaire Juan Carlos Escotet, will acquire an 88 percent controlling stake of Spain's NCG Banco for $1.37 billion. The purchase will be carried out through Banesco's Spanish unit, Banco Etcheverria. Escotet said he would continue NCG's focus on Spain's northwestern Galicia region, Bloomberg reports.

MOREOVER

Latin America gets $12 billion loan boost Bernama

Petroperú plans to raise $2.7 billion for refinery expansion Venture Capital Post

American Airlines suspends ticket sales in Venezuela Curaçao Chronicle

Aeromexico to start Quito-Mexico City flights eTurbo News

Venezuela's Maduro holds rare meeting with opponents Reuters

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