EXCLUSIVE Latin Infrastructure Guide 2014
This year's index includes 23 projects in six countries with a combined value of $32.6 billion
LBC’s latest guide to the largest infrastructure bids in the region this year includes 23 projects in six countries with a total combined value of $32.65 billion.Colombia appears most prominently on our list, with seven available projects totaling over $6 billion, mainly in roads, followed by Peru, with six projects totaling almost $7.2 billion, largely in energy and electricity.
Argentine peso plunges most since 2002 crisis
Inflation is seen reaching 30 percent this year
The Argentine peso dropped 11 percent to eight pesos to the dollar, the steepest one-day drop since the 2002 crisis. Despite efforts to support the economy, inflation has soared to 25 percent, and this year is seen reaching 30 percent, affecting confidence in the Argentine peso and driving investors to put their money into U.S. dollars, the BBC reports.
Mexico lures $6 billion at Davos
Investments announced by Pepsico and Nestle
Pepsico and Nestle announced investments in Mexico worth a combined $6 billion. Pepsico will invest $5 billion over the next five years to boost its food and drinks business, with plans including increasing production capacity and expanding delivery routes. Nestle said it will invest $1 billion in five years, which includes building two new factories. Mexican President Enrique Peña Nieto (left) said at Davos foreign investment to the country reached $28 billion from January to September last year, Yahoo Finance reports.
Chilean government and unions reach accord to solve port strikes
Stoppage has caused export losses worth $1 billion
The Government of Chile reached an agreement with union workers to resolve a strike on 12 ports across the country. The strike, which started more than three weeks ago, has caused export losses estimated at $1 billion, But port workers' spokesman Juan Carlos Lobet warned the strike will continue if the companies fail to ratify the accord, the GlobalPost reports.
Egyptian billionaire eyes bid for Brazil's TIM Participações
Naguib Sawiris is a minority shareholder in Telecom Italia, TIM's parent company
Egyptian tycoon Naguib Sawiris is planning to bid for Brazilian wireless carrier TIM Participações. His move adds pressure to a standoff between Spain's Telefónica and TIM's parent company Telecom Italia. Sawiris said he is against Telefonica's pressure on the italian company to break up TIM and sell it to local firms because it would devalue the assets of all the parts, Trade Arabia reports.
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Argentina backtracks on details of dollar control ABC News
Tiger Global to invest $500 million on Brazil's B2W Reuters
Mexico's Pemex signs cooperation accord with Russia's Lukoil Fox News Latino