February 12, 2014

Argentina to replace bogus inflation index
Aim is to mend relations with foreign investors

The Government of Argentina announced it will unveil a new consumer price index, in an effort to mend relations with international investors. The nationwide index, to be revealed on February 13, will replace the benchmark greater Buenos Aires index which has previously shown inflation at half the rate of private estimates since 2007, Bloomberg reports.

Air New Zealand sees opportunity to fly to South America
Carrier could potentially offer the fastest route from Argentina to Asia

Air New Zealand is eyeing an opportunity to start operating flights to South America by means of its connections in Asia. The airline proposed an alliance with Singapore Airlines, which could be reached by the end of the year, making New Zealand a potential connection hub between Asia and Latin America, The New Zealand Herald reports.

Hyundai eyes Mexico for new plant
Carmaker's U.S. plants have exceeded capacity

Korean carmaker Hyundai, along with its affiliate Kia, are seeking to boost production and is eyeing Mexico and China for new plants. The two companies are running feasibility studies for a plant in Mexico, as both firms' plants in the U.S., located in Montogomery and West Point, are both exceeding capacity, Alabama Media Group reports.

Venezuelan bonds surge on new currency market plans
Oil Minister Rafael Ramírez announced the creation of a new foreign exchange system

Venezuelan dollar-denominated bonds surged after Oil Minister Rafael Ramírez announced plans for a new foreign exchange system expected to be in place by the end of February. The country's sovereign bonds rose 3 percent, while state-oil company PDVSA's bonds surged 9 percent, Reuters reports.

América Móvil profit rises on increased data demand
Mexico City-based carrier reported $15.4 billion in sales for the fourth-quarter 2013

Billionaire Carlos Slim's telecoms firm América Móvil said 2013 fourth-quarter profit rose after adding more wireless data users and reporting a stronger pay-TV business in Brazil. The company's sales rose 3.1 percent compared to the same period a year before, to $15.4 billion, and added 4.8 million wireless users, Bloomberg reports.

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