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January 2, 2014

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Peru's stock market plunge lures bargain hunters
The Lima General Index sank 24 percent in 2013

Peru's stock market performance, the worst in Latin America last year, is luring bargain hunters such as Brazil's Itaú Unibanco and U.S.-based Wasatch Advisors. The companies expect the Andean country to rebound this year, forecasting a growth boost and higher commodity prices. The Lima General Index sank 24 percent in 2013, Bloomberg reports.

Brazil to help Uruguay build new $500-million deepwater port
Terminal to help country avoid Argentina's efforts to control shipping in the South Atlantic

Brazil will fund 80 percent of a new $500-million deepwater port in Rocha, Uruguay, that will help the country avoid Argentina's efforts to control shipping in the South Atlantic region, Uruguayan President José Mujica said. Construction is set to begin in about a year, and Brazil will pay its part through Mercosur's Fund for Structural Convergence, the Washington Post reports.

Historic U.S. flight lands in Cuba
Key West Mayor Craig Cates among passengers

Havana, Cuba, received its first U.S. commercial flight in more than 50 years this week. But the flight, which carried nine passengers and departed from Key West, Florida, is a "test run", Key West International Airport director Peter Horton said. Among the passengers was Key West Mayor Craig Cates (left), but returned Monday without venturing beyond the Havana airport terminal, Al Jazeera reports.

Mexico's América Móvil to continue mega share buyback this year
Company spent $5.4 billion in 2013 

Carlos Slim's telecoms firm América Móvil is likely to continue  buying back shares this year, after spending $5.4 billion in 2013 on propping up its share price, analysts said. New regulations for the telecoms sector in Mexico and money-losing European investments will push the company to continue its buybacks at its current pace, Reuters reports.

Venezuelan economy grew 1.6 percent in 2013: Maduro
Figure is well below government's target of 6 percent

Venezuela's economy grew 1.6 percent in 2013, President Nicolás Maduro said. The figure is well below the government's goal of 6 percent and the 5.6 percent recorded in 2012. The country's annual inflation reached 56.2 percent last year, but officials say the monthly rate slowed for November and December, after the government launched a campaign of forced price cuts, Reuters reports.

MOREOVER

Trump helps Rio de Janeiro builders after Olympics Bloomberg

The five biggest Latin American investment stories for 2014 MoneyWeek

Mexico sets rules promoting public-private infrastructure projects Reuters

Brazil's social media boom sparks calls for new privacy laws WBUR

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