EXCLUSIVE Spain's law firms go solo in Latin America
Spain’s largest law firm broke its ties with a local firm to go it alone in the region
Garrigues, - the most important law firm in Spain - has left its partnership with the Affinitas law firms to go it alone in the region. This decision has encouraged the most important law firms on both sides of the Atlantic to join the field of battle. Although there are many questions, one thing is certain: Latin America is the place to start, and to strengthen in some cases, the internationalization of Spanish law firms, LBC reports.
Uruguay and Peru first in line for possible credit upgrades in region
Moody's has positive credit outlooks for four Latin American countries
Uruguay and Peru are the first Latin American countries in line for a possible credit rating hike by Moody's Investors Service. The upgrades would come at a moment when sovereign upgrades are expected to become more scarce in the region, a senior analyst with the ratings firm said, Reuters reports.
Brazil grows wary of Venezuela under Maduro
Brasilia tones down its support for Venezuela's government
Brazil has toned down its support for Venezuelan President Nicolas Maduro because of disappointment over how he is handling mounting economic problems and opposition-led street protests. The shift, while subtle, has deprived Maduro of some of the regional backing he wants at a time of food shortages, high inflation and political uncertainty in the OPEC nation, Reuters reports.
Avianca and Copa Holdings surge on Venezuela's pledge to pay
President Nicolás Maduro authorized his government to pay $3.8 billion to airlines
Colombian airline Avianca and Panama's Copa Holdings surged on speculation that Venezuela will let airlines exchange their bolivars for dollars at the official rate. Copa, Venezuela’s second-biggest carrier by capacity, rose 4.4 percent to $141.67 in New York, while Avianca, Colombia’s largest airline, jumped 3 percent to $17.24, Bloomberg reports.
Latin America won't meet social demand on slow growth: IDB
Region will grow below the performance of the global economy, says chief economist
Latin America's economic growth is slowing to a pace that is insufficient to meet social demands for better public services from its new middle class, the Inter-American Development Banksaid. The region will grow from 3 percent to 3.5 percent over the next years, compared to an average 4.9 percent in the five years prior to the 2008 financial crisis, the IDB said, Bloomberg reports.
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