EXCLUSIVE Sustainable cities in Latin America
Region's governments still face problems due to high levels of urbanisation
Latin America is one of the most urbanized regions in the world, with 80 percent of its inhabitants living in towns and cities. According to a UN-Habitat report, the urbanization process has almost reached its limit and is irreversible, creating a sort of demographic stability. However, the region's governments still face issues stemming from high levels of human concentration, LBC reports.
Pemex bids to keep all of Mexico's proven reserves: CEO
Oil company seeks to keep all of country's 14 billion barrels of proven oil reserves
Mexico's state oil company Pemex is seeking to keep all of the country's 14 billion barrels of proven oil reserves as the country opens the sector to foreign investment. Pemex sent a bid to the Energy Ministry asking to keep all fields where proven reserves are available and 83 percent of Mexico’s 24.8 billion proved and probable oil reserves, Chief Executive Officer Emilio Lozoya said, Bloomberg reports.
Cuba to give tax incentives to foreign investors
Leader Raúl Castro seeks to bolster growth
Cuba plans to allow full foreign ownership of companies and give tax breaks to foreign investors in a proposed legislation to open the country's economy and bolster growth. The new law, proposed by leader Raúl Castro (left), will allow companies in joint ventures to be exempt from a profits tax for eight years while other taxes may be cut in half, Bloomberg reports.
Latin America to account for at least 50 percent Boeing orders
Plane maker sees region's market growing at an average 6.9 percent over next 20 years
U.S. planemaker Boeing is positive it can reach a market share in Latin America of least 50 percent of orders in coming years. "We see this market growing an average 6.9 percent over the next 20 years," Van Rex Gallard, Boeing's sales vice president for Latin American, Africa and the Caribbean, said, Reuters reports.
Citigroup's problem in Mexico is a horror show, says analyst
Bank let $400 million "walk out the door," says Richard Bove
Citigroup stock was a "sell" following the Federal Reserve's rejection of its capital plan, bank analyst Richard Bove said. The bank's situation in Mexico is "a horror show," Bove said, as seven years after facing a crisis, it now finds it lacks controls in Mexico let $400 million "walk out the door," CNBC reports.
Brazil's Caixa to sharply slow lending growth this year Reuters
Peru's organic food exports to grow 13 percent in 2014 Andina
Russia pivots towards Venezuela, Cuba and Nicaragua Washington Post
Peru and Chile sign accord on new maritime border coordinates Bernama