EXCLUSIVE Latin Entrepreneur Index 2014
Chile is number one on this year’s list
Latin Business Chronicle's Latin Entrepreneur Index 2014 evaluates the easiest places in Latin America, out of 18 countries, to start a business. LBC spoke with David Wachtel from Endeavor, a non-profit organization which mentors entrepreneurs around the world, about some of the key factors that make a country hot, or not, for entrepreneurship.
Argentina raises interest rates to highest in more than a decade
Central bank seeks to lure investors and stop a decline in international reserves
Argentina's central bank raised interest rates to the highest in more than a decade, in an attempt to attract investors and contain a drop in its international reserves. The bank sold $107 million of 98-day notes at 25.89 percent, six percentage points higher than last week and the highest since November 2002, Bloomberg reports.
UN court defines Chile-Peru border
Rich fishing grounds to remain in Chilean hands
The UN's top court at The Hague defined the maritime boundary between Chile and Peru, after a bitter dispute between both South American nations. The court awarded Peru parts of the Pacific Ocean, but rich fishing grounds are to stay under Chilean sovereignty. Chilean President Michelle Bachelet (left) said it was a "painful loss" for her country, but agreed to implement the ruling, the BBC reports.
Morgan Stanley is wrong in saying Brazilian real is weak: Mantega
Finance Minister says Brazil is able to weather volatility amid decreased U.S. stimulus
Brazilian Finance Minister Guido Mantega said Morgan Stanley's report labeling Brazil's real as one of the five weakest currencies amid an emerging market selloff is groudnless. Mantega said Brazil has the capacity to pull through volatility as the U.S. reduces monetary stimulus. The same message was directed at HSBC, who last week forecast a credit rating downgrade this year, Bloomberg reports.
Raúl Castro welcomes 33 Latin American and Caribbean leaders
Cuban President calls for eradication of poverty and improvement in education
Cuban leader Raúl Castro welcomed 33 heads of state from the region for the second summit of the Community of Latin American and Caribbean States, CELAC. Castro challenged the leaders to boost education and poverty, adding that the region has enough natural resources to eradicate poverty, but may lack the political will, the Guardian reports.
Argentina on the brink New York Times
Brazil sees $2.3 billion in public spending for Olympics GlobalPost
MTV looks to Latin America for spin-offs of hit shows Fox News Latino
Mexico's Banorte fined un U.S. for lax money laundering controls Reuters