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February 25, 2014

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EXCLUSIVE SAP places bets on 2014
German multinational is particularly enthusiastic about Mexico and Colombia

Last year was good for German multinational SAP in Latin America. Revenues grew 26 percent, led by a strong growth particularly in cloud software. "SAP is very excited for this year. We see a region in pretty good shape from an economic standpoint, and businesses anxious to adopt new technology," Gonzalo Benedit, President of SAP for Northern Latin America told LBC.

Peru's Ollanta Humala reshuffles cabinet
Energy Minister Jorge Merino replaced with former World Bank economist Eleodoro Mayorga

Peruvian President Ollanta Humala announced a major cabinet shuffle Monday, naming current housing Minister Rene Cornejo his fifth Prime Minister. Humala also kept his Finance Minister Luis Miguel Castilla, after he offered his resignation following a spat with the outgoing Prime Minister Cesar Villanueva over a bid to raise the minimum wage, Reuters reports.

Colombia drunk-driving fines hit SABMiller
Government introduced fines of up to $14,000

Multinational brewer SABMiller's growth took a hit in Colombia after the government introduced $14,000-fines and jail sentences of up to 18 years as part of a crackdown on drink-driving. The tougher rules led to a lower-than-expected sales in December and January. President Juan Manuel Santos enacted the new rules after a series of drunk-driving accidents in the run-up to Christmas led to public outcry, Businessweek reports,

Mexico's Controladora Comercial Mexicana seeks buyers
Supermarket operator hired Rothschild as advisor for the operation

Mexican supermarket and restaurant operator Controladora Comercial Mexicana announced it put itself up for sale. The company is seeking non-binding offers as part of a private auction. The company, known as Comerci, has a market capitalization of $4.7 billion, and hired Rothschild as an advisor for the sale, Bloomberg reports.

Venezuela new foreign exchange platform to weaken black market
New system to allow the exchange rate be determined by supply and demand

Venezuela's new currency exchange platform will undermine the spiralling black market for U.S. dollars by adding a market-based mechanism to existing currency controls, Economy Vice President Rafael Ramírez said. The new system, known as Sicad 2, would be based on supply and demand and create a an exchange rate through a bond swap system, Reuters reports.

MOREOVER

TAM and LAM ramp up World Cup flights Route News

Cuba says cigar sales up 8 percent Businessweek

Talks between Venezuelan government and opposition hit a snag Miami Herald

In survey, Brazil and Mexico equally awful Forbes

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