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March 19, 2014

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EXCLUSIVE Latin America's Richest: Billionaires 2014
Carlos Slim remains at the top of the list, but Brazil has the highest number of entries

Latin America can boast 113 billionaires this year with a combined fortune of $438.6 billion. However, this year saw the region's billionaires lose a combined $40.5 billion over 2013, or 8.5 percent of their wealth. On this year's list, there are 29 new billionaires, of which 26 come from Brazil, Latin Business Chronicle reports.

Entel jumps in Chile as JPMorgan says it offers faster growth
Telecoms firm's shares rose 5.1 percent to $11.47

Chile's Empresa Nacional de Telecomunicaciones, Entel, rose the most in six months after JPMorgan Chase said it offers faster growth than competitors at an attractive price. The company's shares rose 5.1 percent to $11.47, making it the best performer on the benchmark IPSA index, Bloomberg reports.

Chile has widest inequality gap: OECD
South American nation is number one of 34 countries

Chile has the widest gap between rich and poor among the 34 countries of the Organization for Economic Co-operation and Development. However, while the South American country has the widest inequality gap of its members, it also has made impressive efforts to correct that since the global economic crisis began in 2007, the OECD said, Yahoo News reports.

Fourteen banks endorse Brazil's Grupo Oi share plans
Firms include Itaú Unibanco, Goldman Sachs, BTG Pactual and Credit Suisse

Brazilian telecoms firm Grupo Oi lined up firm commitments from as many as 14 banks to buy up to $2.5 billion in an upcoming share offering. Grupo BTG Pactual SA leads the group, which includes Bank of America Corp, Barclays, Credit Suisse Group AG, Goldman Sachs, Itaú Unibanco Holding and Morgan Stanley & Co, among others, Reuters reports.

Brazil's OSX board approves terms of unit's bond restructuring
Firm agreed to pay creditors more interest on $500 million of defaulted bonds

The board of Brazilian shipbuilder OSX, controlled by former billionaire Eike Batista, approved key terms of the restructuring plan for its leasing unit. Last week the unit, OSX 3 Leasing BV, reached a preliminary agreement to pay creditors more interest on $500 million of defaulted bonds, and said it would retroactively raise the coupon to 13 percent from 9.2 percent, Reuters reports.

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