EXCLUSIVE Latin Education Index 2013
Which countries do the best at giving their citizens a head start?
Education is the key in helping countries move up the stages of development as workers are more easily able to adapt new skills and processes to aid development. The proof is in our index: the countries at the top of our index for education are also those with the region’s highest GDP per capita, Latin Business Chronicle reports.
Moody's upgrades Mexico's sovereign rating to 'A'
Ratings agency cited the series of reforms President Peña Nieto has pushed through congress
Moody's upgraded Mexico's sovereign rating to 'A', making it the second Latin American country to achieve that score after Chile. Moody's gave the rating citing the series of reforms pushed by President Enrique Peña Nieto. "Confidence in Mexico is growing in the world," Peña Nieto said after the upgrade, Reuters reports.
Telefónica seeks merger with Iusacell
Aim is to take on Carlos Slim's América Móvil in Mexico
Spanish telecoms firm Telefónica is seeking a merger deal with Mexico's Iusacell to compete against Carlos Slim's (left) América Móvil in Mexico. Details such as which company would hold the controlling stake are yet to be decided, but the combined firm would control almost all of the rest of the market, of which América Móvil dominates about 70 percent. However, that would draw the attention of Mexico's telecoms regulator, Federal Telecommunications Institute, which is seeking to offer customers more options in the market, Businessweek reports.
Panama Canal and construction consortium talks collapse
Canal administrator Jorge Quijano said project will continue with or without the companies
Negotiations over a cost overrun between the Panama Canal Authority and the Sacyr-led construction consortium GUPC have broken down, putting the Canal expansion project at risk of being delayed. Both parts had been holding talks over a $1.6 billion cost overrun. "They put a threat on the table and today they executed it," said Canal administrator Jorge Quijano, Bloomberg reports.
Venezuela's Maduro suggests hiking gasoline prices
Last attempt to raise fuel prices resulted in the deadly 'Caracazo' wave of protests in 1989
Venezuelan President Nicolás Maduro became the first politician in a decade to announce a gasoline price hike amid a global oil price slump. The last attempt prompted the 'Caracazo,' a wave of protests, lootings and riots which killed hundreds of people. Oil accounts for 25 percent of Venezuela's economy and 96 percent of its exports, The Telegraph reports.
Why Colombia is the next economy to watch Huffington Post
CPPIB says time is right to invest in Latin America Financial Post
Mexico's January consumer confidence sinks to nearly 4-year low Reuters
Peru copper sector with world's highest growth potential Mining