Business News Americas - Top Stories

Daily business news and information from Latin America

Latest articles

Petrochemicals - Mexico - Mexico's reforms raise optimism in petrochemical sector

Mexico's petrochemicals sector has lacked investment for decades but the reforms taking place in the country, which will allow the private sector to participate across the production chain, have awakened interest in the sector,Braskem-Idesa commercial and business development director Cleantho Leite (pictured) told BNamericas in an interview. "With...

Metals - Brazil - Brazil´s top iron ore states see exports crash in Q1

Brazil's industry and foreign trade ministry (MDIC) released iron ore export figures for the top mining states of Minas Gerais and Pará. Iron ore exports from Minas Gerais fell 50.2% to US$1.63bn in January-March, while those of ferroniobium increased 1.02% to US$411mn. Gold exports brought in US$240mn, up 26.9%. The revenue drop was mostly due to...

Water & Waste - Mexico - SPOTLIGHT: Mexico's super sewer

Once Mexico's Túnel Emisor Oriente is completed it will rank among the biggest wastewater pipelines in the world. But the project is taking longer than originally forecast and the price tag has grown, according to information from Mexico's finance ministry. Investment is due to end in 2018 which means it could be ready for commissioning around that...

Insurance - Brazil - IRB nearly triples Q1 profit

Latin America's biggest reinsurer IRB Brasil Re nearly tripled its net profit in the first quarter. Net income for the quarter reached 130mn reais (US$42.1mn), while written premiums almost doubled to 676mn reais, from 343mn reais in 1Q14, the company said in its earnings release. Growth was seen across all lines and boosted by a sevenfold increase...

Banking - Regional - South America to enter recession in 2015 - IMF

Negative growth in Brazil, Argentina and Venezuela is set to drag South America into a recession in 2015, according to the latest World Economic Outlook published by the International Monetary Fund (IMF). Brazil is set to contract 1.0% this year (240bp below the IMF's October forecast) as private sector confidence remains stubbornly weak due to the...

Oil & Gas - Bolivia, Brazil - Petrobras, Gazprom ink Bolivia gas deal

Brazil's state-run oil firm Petrobras has agreed to invest up to US$2.057bn to develop new natural gas fields in Bolivia, officials in La Paz said on Tuesday. The 15-year agreement forms part of a memorandum of understanding also involving Russian gas producer Gazprom for exploration projects in gas-rich Tarija department. Under the deal, Petrobras...

Info. Technology - Brazil - Digital banking overtakes physical channels in Brazil

For the first time ever, more than half of all banking transactions processed in Brazil over the period of a year were done so via digital channels, said federal banking association Febraban. According to Febraban's 2014 banking technology study, internet and mobile accounted for around 52% of all 46bn in financial and non-financial (such as balance...

Telecommunications - Regional - Nokia, Alcatel-Lucent merger 'logical'

Nokia and Alcatel-Lucent's potential merger is a logical step for both companies, but it could also bring in risks, London-based tech consultancy Ovum's chief research officer said. According to Mark Newman, the transaction makes sense, since it would combine Nokia's mobile-only equipment business with Alcatel's strengths in the fixed-network business. But,...

Infrastructure - Brazil - Brazil's Infraero should be shut down, say consultants

While Brazil's civil aviation minister Eliseu Padilha has recommended a restructuring of state-run airport operator Infraero, some local consultants believe that it should be shut down altogether. After outsourcing profitable airports in 2012-13, Infraero is left operating less lucrative ones. These airports should be handed over to the private sector...

Oil & Gas - Mexico - Pemex makes its largest-ever euro bond issuance

Mexico's state oil firm Pemex has issued bonds worth 2.25bn euros (US$2.39bn), its largest ever issuance in that currency. The issue took place in two tranches, with 1bn euros maturing in 2012 at 1.87% and 1.25bn euros maturing in 2027 at 2.75%. The issuance was three times oversubscribed, the firm said in a press release. The bonds were mainly acquired...

Discover, share and read the best on the web

Subscribe to RSS Feeds, Blogs, Podcasts, Twitter searches, Facebook pages, even Email Newsletters! Get unfiltered news feeds or filter them to your liking.

Get Inoreader
Inoreader - Subscribe to RSS Feeds, Blogs, Podcasts, Twitter searches, Facebook pages, even Email Newsletters!