The Bahamas is edging towards opening up its telecommunications sector, with the government’s plans to sell off a controlling stake in state-owned Bahamas Telecommunications Company (BTC) having taken another step forward in late November.
Having announced in January that it was opening a tender to sell off a minimum 51% stake in [...]
Colombian state controlled energy company Ecopetrol S.A. has announced its investment plan for 2010, totalling $6.93 billion, an increase of 11% compared to 2009.
93% of the proposed investment will be concentrated in Colombia, with the remaining 7% earmarked for exploration and production projects in the U.S. Gulf Coast, Brazil & Peru.
Investments in exploration [...]
Brazilian state controlled energy giantPetrobras has announced plans to invest US$1bn in it’s Peruvian operations from 2010-2013.
According to a report from Peruvian news agency Andina report, Petrobras’ CEO José Sergio Gabrielli said investment will be focused on exploration & production activities in blocks which the Brazilian oil major already operates in Peru.
Petrobras’ five-year strategic plan foresees investments outside [...]
Alvaro Uribe, President of Colombia, has always been a preacher of foreign investment as a fundamental economic policy that would help fuel the country’s growth.
But there is a major reason he wants to promote Colombia as a foreign investment destination so passionately. The Colombian economy shrank 0.5% during the second quarter [...]
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 [...]