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April 17, 2014

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EXCLUSIVE Latin America 2014 Security Index
Venezuela replaces Haiti as most dangerous country in the region

Latin America is the most violent region of the world: while accounting for just 9 percent of the world’s population, the region is responsible for 36 percent of its homicides. Nevertheless, there is a great deal of variety between the countries in the region. With that in mind, LBC presents its annual Security Index, which ranks 19 countries in the region based on relative levels of security.

Mexico's Iusacell sues IBM for $2.5 billion
Mobile operator accuses technology giant of making fraudulent representations

Mexican mobile phone operator Iusacell sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits. The lawsuit, filed in federal district court in New York, centered on a contract that Iusacell said IBM induced it to enter into in Mexico, Reuters reports.

Latin America's growth prospects fizzle
Forecasts for seven major economies in the region were down in poll

The next two years look more challenging for Latin American economies than previously thought, with prospects for slower growth and higher inflation defying recent market optimism about emerging markets. Prospects for economic growth in 2014 and 2015 were down across the board from a similar poll in January for all seven major Latin American countries except Colombia, according to the consensus view of over 50 economists polled, Reuters reports.

Chile's Vapores and Hapag-Lloyd agree to merge
Combined company seen having an annual turnover of $12.4 billion

Chilean shipping firm Compañía Sud Americana de Vapores and Germany's Hapag-Lloyd have announced their decision to merge. The move will create the world's fourth largest shipping company. Once the merger is approved, the combined company will have some 200 vessels and an annual turnover of  $12.4 billion, Hapag-Lloyd said, Yahoo reports.

Cuba publishes text of foreign investment law
New measure seeks to spur country's development

Cuba's government on Wednesday published the text of a new law that will take effect in late June and provide tax breaks for foreign investors. After it was approved on March 29 by the National Assembly, the Foreign Investment Law and its accompanying regulations were published in the official gazette and in a special tabloid put out by Cuban Communist Party daily Granma, Fox News Latino reports.

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