March 10, 2014

EXCLUSIVE Mexican retail is changing: Chedraui CFO
Rafael Contreras Grosskelwing talks about the sector's challenges and opportunities

Mexican retail firm Grupo Comercial Chedraui has seen sales surge 40 percent after a number of acquisitions boosted its presence in the country. The company's supermarkets are now present in 25 of Mexico's 30 states. LBC spoke with Rafael Contreras Grosskelwing, who led those acquisitions, about his industry's challenges and opportunities.

Regulator orders Televisa and América Móvil to open networks
Company's will have to share infrastructure with competitors

Mexico's telecoms regulator ordered Carlos Slim's América Móvil and broadcaster Televisa to share their network infrastructure with competitors, in a bid to cut the market share of the country’s dominant telecoms firms. Televisa was ordered to share its towers for a set fee and must publish its advertising prices publicly, while América Móvil will have to share part of its network and have its prices regulated, Bloomberg reports.

Situation in Venezuela is alarming: Biden
U.S. Vice President met with regional leaders in Chile

U.S. Vice President Joe Biden has described the current unrest in Venezuela as "alarming". Biden travelled to Chile on Sunday to attend the inauguration of President-elect Michelle Bachelet. "Confronting peaceful protesters with force, and in some cases armed militia, limiting freedom of the press and assembly [...] is not in line with the solid standards of democracy that we have in most of our hemisphere," Biden said in an interview, The Guardian reports.

Standard & Poor's to discuss Brazil policies with government
S&P's Lisa Schineller to meet with Brazilian central bank chief and Finance Minister

Standard & Poor's sovereign ratings director Lisa Schineller will meet high-ranking Brazilian officials this week to discuss the country's macroeconomic policies. The meeting comes amid Brazil's efforts to allay Standard & Poor's, and other ratings agencies, that the country's public finances have taken a turn for the worst in recent years, Reuters reports.

Peru to eliminate key environmental law for oil and gas firms
Proposed change on regulation sparks controversy and concern

The Peruvian government is planning to loosen environmental and social checks on companies who wish to explore for oil and gas, according to Energy Minister Eleodoro Mayorga. The plan involves eliminating the need for companies to write and research Environmental Impact Assessments when exploring by conducting seismic tests, The Guardian reports.

MOREOVER

Venezuela renews $5 billion China credit line Reuters

Federated Investors Inc. to expand services in Chile Nasdaq

Argentina's YPF says 2013 profit was $779 million Reuters

Peru among best countries for women entrepreneurs in Latin America Andina

Taiwan to send trade delegation to four Latin American countries Taiwan News