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March 13, 2014

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Brazilian economy faces difficulties after World Cup
Next year will be difficult no matter who wins elections, says former President Cardoso

This year is set to be memorable for Brazil, with the World Cup in June and July and presidential elections in October. But the outlook for 2015 is less favorable. Whoever wins the elections will have to make deep budget cuts and raise taxes, among other measures, in order to address the country's growing financial imbalances, Reuters reports.

Mexico's January tourism spending grows 17.4 percent
Visitors to the country spent $1.44 billion

Tourists who visited Mexico in January spent 17.4 percent more than the same month last year, the Ministry of Tourism said. The figure represents $1.44 billion, up from the $1.22 billion from the same month last year. Foreign tourist arrivals to the country in the first month of the year totalled 6.6 million, Fox News Latino reports.

Atomico to invest more in Brazil
Skype co-founder looking for e-commerce firms

Global technology investment firm Atomico, led by Skype co-founder Niklas Zennstrom (left), will add to its investment in Brazil's e-commerce sector. Zennstrom said he's seen advances in the country's e-commerce infrastructure, including payment systems and use of mobile phones. "We are certainly looking for companies in that sector" in Brazil, he said, The New York Times reports.

Argentina to cut energy subsidies in half as imports erode reserves
Government's aim is to reach self-sufficiency in energy

The government of Argentina will gradually cut in half subsidies on utilities, after growing energy imports have lowered the country's reserves, Cabinet Chief Jorge Capitanich said. The government will spend from 2 to 2.5 percent of gross domestic product, down from the current 4 to 5 percent, on subsidies such as water, natural gas and electricity, Bloomberg reports.

Colombia’s Avianca posts strong 2013 financial results
Carrier's revenue rose to $4.6 billion year-on-year

Colombian airline Avianca posted record financial results for 2013.  The airline's revenue rose to $4.6 billion year-on-year, boosted by the carrier's strength in Peru and Colombia, two of Latin America's fastest growing markets. Avianca seeks to grow 8 to 9 percent this year, helped by a continued fleet renewal and and long-haul growth, CAPA reports.

MOREOVER

Colombia cuts Treasury bonds issuance for 2014 Reuters

Argentina's Vaca Muerta may be biggest opportunity for investors Equities

Brazil's February inflation accelerates faster than forecast Bloomberg

Pacific Rubiales beats profit estimates as Colombia output rises Bloomberg 

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