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December 23, 2013

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EXCLUSIVE Latin America is an exciting market: SAP 
Firm has experienced 15 quarters of double-digit growth in the region 

Strong growth in Latin America will help German multinational SAP’s sales grow 10 percent this year to $19 billion. In the region, the company has experienced 15 quarters of double-digit growth. “There is no doubt that Latin America is a region of huge innovation and motivation," the firm's CFO for the Americas, Peter David, told Latin Business Chronicle. 

EXCLUSIVE Interview: Enéas Pestana, CEO of Grupo Pão de Açúcar
Latin Trade award winner says firm will continue to see double digit growth in 2014 

LBC interviewed Enéas Pestana, CEO of Brazil's Grupo Pão de Açúcar and Latin Trade 2013 BRAVO Business Award Winner for Dynamic CEO. Pestana talks about some of the strategies behind Pão de Açúcar's growing e-commerce channels, as well as some of the key factors which will continue to drive the company's growth next year.

Raúl Castro gives stern warning to entrepreneurs
Cuban President also called for better relations with U.S.

Cuban President Raúl Castro gave a stern warning to entrepreneurs who are pushing the limits of the country's economic reform. "Those pressuring us to move faster are moving us toward failure," said Castro during a bi-annual parliament meeting. He also said he wants better relations with the U.S., but will not give in to demands for changes in Cuba's economy or government, Yahoo News reports.

Uruguay's economy minister quits
Fernando Lorenzo (left) resigned amid airline probe

Uruguay's economy minister Fernando Lorenzo resigned on Saturday as he faces a probe concerning last year's collapse of the country's flagship air carrier Pluna. The Uruguayan government is investigating the company's bankruptcy, in particular Lorenzo's alleged participation in a bid by Spain's Cosmo Líneas Aéreas to purchase Pluna's equipment, the GlobalPost reports.

Panama's economy grows 8.9 percent in third quarter
Infrastructure spending on the Panama Canal and Metro system spurred growth

The economy of Panama grew 8.9 percent in this year's third quarter, compared to the same period last year, the government's statistics agency said. Growth was spurred mainly by infrastructure spending on the $5.3 billion Panama Canal expansion project and the capital city's  $1.8 billion metro system, the first in Central America, Reuters reports.

Brazil sees tourists spending $10 billion during World Cup
Amount is higher than public funds invested in staging the event

Domestic and international tourists are likely to spend some $10 billion during next year's World Cup in Brazil, the country's tourism board, Embratur, said. "These are important resources which fuel economic sectors of all Brazilian regions, from aviation to the informal economy," said Flavio Dino, president of Embratur,the GlobalPost reports. 

MOREOVER

U.S.-Mexico energy accord ready for Obama's signature GlobalPost

Five Latin American projects to watch in 2014 International Business Times

Credit to Peru's private sector up 14.7 percent Andina

Colombia and Jamaica to launch key cooperation projects Jamaica Observer

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