Chile ranked best place for business in Latin America
The Pacific Alliance member has the cheapest costs in the region
Chile was named the best place in Latin America to do business in 2014, according to a ranking by Bloomberg. The country came first out of 14 countries in the region, and was followed by Peru and Brazil. Chile is the only country in Latin America with net savings instead of debt after 30 years of almost uninterrupted growth, Businessweek reports.
Brazil earmarks $150 billion for oil exploration and production
Petrobras to make investment over the next four years
Brazil's state oil firm Petrobras said it will invest $150 billion over the next four years on domestic exploration and production. Deepwater offshore production will account for more than half of the world's oil supply by 2035, and Brazil is expected to account for nearly half of that, Petrobras chief of exploration and production José Formigli said, Rigzone reports.
Peru seeks stronger ties with Macau
Countries to bolster bilateral trade, tourism and mining
Peru is seeking to expand trade, tourism and mining ties with Macau. A Peruvian delegation led by Congress President Fredy Otarola is in China, and met with Macau's Chief Executive Chui Sai On (left) on Monday. "Peru and Macau would enhance cooperation on mining, importation of agricultural products and tourism," Otarola said. "The Peru Chamber of Commerce in Macau may provide the bridge for entrepreneurs of Macau and Peru," Chui said, Andina reports.
Argentine government restricts Internet shopping
Shoppers will have to wait for government approval to make online purchases
Argentines shopping online will now have to wait for government approval, after the government is restricting online purchases in an effort to curb capital flight. The measure applies to goods entering the country through the postal service. Argentina’s economy has been hit by a dollar shortage and its foreign reserves recently dropped to their lowest level in more than seven years, the Washington Post reports.
Citigroup to expand Mexico team to meet rising demand
Firm's team to grow by up to 20 percent this year amid growing need for advisory services
Citigroup will expand its Mexico team by up to 20 percent this year in order to meet rising demand for advisory services on mergers, acquisitions and equity issuance in the country, the firm's investment banking chief for Mexico, Alfredo Capote, said. Mexican investment banking revenue surged 70 percent to $663.4 million in 2013, Bloomberg reports.
Japan's Sumitomo Corp. invests $1.8 billion in Bolivia GlobalPost
GoDaddy begins aggressive expansion into Latin America Reuters
Carlos Slim still reaping rewards from NY Times loan Bloomberg
Brazil to open region's first government run crash test site Fox News