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February 27, 2014

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EXCLUSIVE Latin America's Top 50 Retailers
Revenues up 20 percent over previous year on consumer boom

Latin America's economic growth is being driven by strong domestic demand and consumer spending. That is good news for the 50 largest retailers on our list. From 2011 to 2012, these companies saw revenues rise 20 percent, or by almost $50 billion year-over-year for a total of $294.5 billion in sales.

Paraguay to chair Mercosur in the next six months: Rousseff
Bloc's summit, delayed several times already, to be held in Venezuela

Paraguay will hold the next rotating chair of Mercosur, Brazilian President Dilma Rousseff said. However, a Mercosur summit which will be hosted by Venezuela has yet to take place, and has already been delayed several times. Rousseff underlined that Brazil supports dialogue as the only way out of the current situation in Venezuela, MercoPress reports.

Brazil's Vale rallies most in three weeks
Iron-ore producer lost $6.4 billion in fourth quarter

Brazil's Vale, the world's largest iron-ore producer, rose 2.6 percent, the most in three weeks, after after fourth-quarter earnings before items beat estimates on rising prices for the steel-making material.The company said earnings before taxes, interest, depreciation and amortization rose to $6.4 billion, helped by rising Chinese demand, Bloomberg reports.

Nicolás Maduro bets 6-day holiday will diffuse protests
'The news coming out of Venezuela continues to be a cause for alarm,' says EU Commisioner

 Venezuelan leader Nicolás Maduro added two more days to the official carnival holiday, aiming to diffuse two weeks of protests which have left 14 people dead. But despite Maduro claiming his government is  starting to gain support, the opposition party Voluntad Popular called for another march on Wednesday, Bloomberg reports.

Coca-Cola Femsa's sales rise but profits drop on acquisitions
Fourth-quarter profits reached $234 million, 29 percent less than the same quarter in 2012

Coca-Cola Femsa, Latin America's largest coke bottler, reported a boost in sales for the fourth quarter 2013 after a string of acquisitions. But the cost of financing the deals led to the company's profits for the quarter reaching $243 million, 29 percent less than the same quarter a year earlier, Reuters reports.

MOREOVER

Ab InBev sees return to growth in Brazil with World Cup boost Reuters

Peru and China cooperation mutually beneficial: top lawmaker CCTV

Pemex to drill 10 shale test wells this year Reuters

Peru's economy grew 5.2 percent in fourth quarter 2013 Andina 

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