With the aim of increasing international trade, 22 emerging and developing countries, including seven Latin American nations, signed an agreement to reduce tariff barriers by 20% on a minimum of 70% of the products they regularly trade among themselves.
The list of signatories, who met on the sidelines of the World Trade [...]
After the Venezuelan government announced an audit of three private banks “behind closed doors”, Hugo Chávez announced that he would merge the three institutions to create a new State bank called Bicentenario.
This, reported AFP, brings the total number of organizations audited by the executive branch in the past two weeks, as a [...]
Italian energy company Enel has announced that it will invest a further US$7 billion in Latin America over the next five years, providing an indication that the global financial crisis has abated in the region.
“The region is one of the places which has suffered least with the global financial crisis and another important issue [...]
Colombian Mines and Energy Minister Hernan Martinez maintains that investor confidence and increased security in the country have encouraged foreign investment in mining exploration and production.
Despite the global financial crisis, according to El Colombiano, 2009 is likely to see a record US$2 billion invested in mining, Colombia’s second most important sector after oil.
Speaking at [...]
Far from the earthquake unleashed on international markets by Dubai’s request to defer payment of its multi-million dollar debt, the two major stock exchanges in Latin America, Mexico City and Sao Paulo finished November with significant gains in what was the first month world economies began to show signs of recovery [...]
Carlos Villegas, president of the state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), has announced that the country plans to invest US$11 billion in the sector over the next seven years in order to develop its entire oil and gas production chain.
Villegas explained that YPFB needs to invest US$7 billion over this [...]
In the second quarter of 2009, state owned Banco do Brasil reported an asset increase of 43.9 percent compared to the same period in 2008, becoming the number one bank in Latin America and the seventh largest on the continent.
Banco do Brasil had slipped in the rankings in November 2008, said Portafolio, [...]
The economic climate improved in all Latin American countries between July and October 2009, reports the latest joint quarterly study drawn up by the Brazilian Economy Institute, the Institute for Economic Research at the University of Munich (Ifo) and the Getulio Vargas Foundation (FGV), which also underscored the recoveries underway in [...]