Interview: Jorge Becerra, Boston Consulting Group
Financial services and retail are two sectors driving growth in the region, says Becerra
In this LBC interview, Jorge Becerra, Senior Partner and Managing Director at Boston Consulting Group, discusses consumer trends in Latin America and the performance of multilatinas. Becerra also talks about some of the region's most potential sectors, including retail, financial services, infrastructure and mining.
Brazilian new car sales drop for first time in decade
Tight credit and higher taxes have hit the world's fourth largest auto market
Brazil's new auto sales dropped 0.9 percent last year, according to data from the national automaker's group Anfavea. This year, the industry sees car sales growing some 1.1 percent, still below the double-digit growth figures of the past 10 years. Car production is expected to be stagnant, as new safety requirements and less government incentives raise production costs, Reuters reports.
Aeromexico soars to 13-month high
Firm's passenger traffic grew 17 percent in December
Aeromexico, Mexico’s biggest airline, jumped to a 13-month high after the company reported a 17 percent increase to 1.5 million in passenger traffic in December, the fastest rate of 2013. The firm's passenger traffic reached 15.5 million for the whole year. “We see these results as positive, and we’d underscore that it’s the fourth straight month of solid results,” said financial firm Corporativo Actinver, reiterating its buy recommendation on Aeromexico shares, Bloomberg reports.
Chilean copper and fruit exports hit by port workers' strike
Terminals affected include Antofagasta, San Antonio, Mejillones and Huasco
Fruit and copper exports in several major Chilean ports have been stalled as workers across the country have gone on strike since Tuesday this week, claiming thousands of dollars in compensation agreed to in resoutions of strikes last year. Fresh fruit exporters are particularly concerned, and fear losses could reach some $50 million if the strike continues through the week, the Santiago Times reports.
Moody's warns Brazil credit rating cut if economy disappoints
Firm changed country's rating in September last year to stable from positive
Brazil faces a credit rating outlook cut by Moody's if its economy disappoints in this year's first half, the company's senior credit analyst for Brazil, Mauro Leos, said. "As soon as we have official data for GDP and the fiscal performance of the first six months, we should have a pretty good idea of how 2014 will look like," Leos said, Reuters reports.
Tourism's contribution to Venezuelan economy to triple: Maduro eTurboNews
NAFTA and the future of Canada, Mexico and the United States Forbes
Bupa buys Chilean health insurer Private Healthcare UK
Japan and Spain vow to help firms expand into Latin America GlobalPost
Mexico's Sigma buying more shares in Spain's Campofrio Reuters