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February 7, 2014

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EXCLUSIVE Olam: A decade of boosting region's potential
'Cultural understanding and trust are two keys to success in Latin America'

Olam International, a global integrated supply chain manager, has been established in Latin America for over 10 years. LBC spoke with Juan Antonio Rivas, Senior Vice-President and Head of Olam International Ltd's Central America and Andean Region, about some of the key aspects that have helped Olam successfully connect Latin America and Asia.

Argentine grain exporters to add $2 billion to reserves
Farmers agreed to sell stockpiled soybean before harvest

Argentine grain farmers and exporters agreed to add $2 billion to the country's central bank reserves this month by selling stockpiled soybeans before harvest, according to Cabinet chief Jorge Capitanich. Argentina's central bank funds plummeted 35 percent in the last year to a seven year low of $27.9 billion, Bloomberg reports.

Apple to open first store in Brazil
New store is also the first in Latin America

Apple announced it will open its first store in Brazil on February 15. The store, the first in Latin America, will be located in Rio de Janeiro's VillageMall. Plans for the Brazil store began in 2012, but were confirmed until last October when the company also said it was planning to send temporary U.S. staff in order to train local workers about its practices. "We cannot wait to offer the unique Apple retail experience to the people of Rio de Janeiro and customers from across the entire region," the company said, CNET reports.

Brazilian sugar turns bitter for investors as Aralco struggles
Multi-year lows in sugar prices have exacerbated Aralco's woes amid talk of a restructuring 

Investors in Brazil's sugar are concerned over the sector's troubles, as well as sugar and ethanol producer Aralco's struggles. Standard & Poor's and Fitch recently downgraded the company to -B and CCC respectively, citing worries over the firm's short-term liquidity and refinancing risks, Reuters reports.

China Minmetals nears deal to buy Glencore's Bambas mine
Deal expected to reach up to $6 billion

A group led by China's MInmetals Corp. is close to reaching a deal to buy Anglo-Swiss firm Glencore Xstrata's Las Bambas copper mine in Peru. The deal, awaiting approval from the Chinese government and expected to be announced this month, could reach up to $6 billion. The Chinese group includes Citic Metal Co. and China Reform Holding Group, Businessweek reports.

MOREOVER

President of Uruguay nominated for Nobel Peace Prize RT

Chile's banking profits rise nearly 14 percent in 2013 Reuters

Performance deterioration seen for Venezuelan banks: Fitch Business Wire

Vinci eyes airport concessions in Chile and Peru to tap traffic Bloomberg

Brazilian firm launches Dropbox rival ZDNet

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