EXCLUSIVE Interview with Itaú Unibanco CEO
'Capital will be scarce in the coming years,' says Roberto Setubal (right)
Major changes are coming to the banking industry, said Roberto Setubal, CEO of ItaúUnibanco, the largest bank in the Southern hemisphere. He shared with Latin Trade his view of a world with costlier capital and with no advantages to being a global bank. How will Itaú Unibanco move in this new environment? Latin Business Chronicle reports.
No fears of currency war: Mexico central bank
Country has enough reserves to withstand 'jittery spirits', says Governor
Mexico has enough currency reserves to withstand "jittery spirits" in currency markets, according to the Governor of the Bank of Mexico, Agustin Carstens (left), who brushed off fears of a "currency war". Carstens said he had faith in the U.S. Federal Reserve, which he believed had gone out of its way to reassure markets and stress that central banks should focus on growth and recovery rather than exchange rates, CNBC reports.
Nestlé and Fonterra scale down regional venture
Swiss firm to buy back dairy plants in four Latin American countries
Swiss multinational Nestlé is buying back milk powder factories in Latin America, significantly scaling down a joint venture with New Zealand's Fonterra that began in 2003. Nestle said the venture had performed well but the time was right "to realign the partnership to better reflect the respective strategies of Nestlé and Fonterra in the region", Reuters reports.
Argentina to start debt talks with Paris Club
South American nation owes some $10 billion to creditors
Senior Argentine officials are set to begin formal talks with Paris Club representatives on Wednesday to repay some $10 billion the South American government owes the group of creditor nations. "It's a complex, difficult negotiation that requires the necessary time to reach the objectives of both parties," Argentine cabinet chief, Jorge Capitanich (left) said, MarketWatch reports.
U.S. displaces traditional LPG suppliers in region
The United States is now Latin America's natural supplier of LPG
U.S. sales of liquefied petroleum gas, LPG, to Latin America have grown five-fold since 2007, edging out more expensive exports from countries such as Saudi Arabia and Algeria, according to official data and traders. "The U.S. is now Latin America's natural supplier of LPG. Venezuela used to supply several Central American and Caribbean countries, but that's not happening anymore," an industry consultant said, Downstream Today reports.
Turkish Airlines eyes Colombia, Mexico, Chile and Cuba CH-Aviation
Thailand wooing Latin American market eTurbo News
Brazil making $9.7 billion tax cut permanent to stimulate growth Businessweek
Chile's Atton Hotels plans to enter Miami Meetings Focus
Chasing the Latin American retail consumer CNBC
Mexico's holistic health resorts Los Angeles Times
Italian pasta maker Barilla seeks to expand in Latin America Reuters