President Michelle Bachelet sent Chile's Congress a bill on Monday that would raise corporate taxes to fund a sweeping overhaul of the country's education system. The proposed reform aims to raise 8.2 billion dollars to fund tuition-free public universities, a demand that fueled massive student protests under Bachelet's conservative predecessor Sebastian Piñera.
Uruguay and Peru are the first Latin American countries in line for a possible credit rating hike by Moody's Investors Service, at a moment when sovereign upgrades are expected to become more scarce in the region, a senior analyst with the ratings firm said.
Mercosur expects to present a joint proposal regarding tariff reductions to the European Union during a meeting next June, according to Brazil's Minister of Development, Trade and Industry, Mauro Borges who apparently convinced a reluctant Argentina to join the group.
Brazil and Argentina signed a deal over the weekend that seeks to guarantee importers will have enough U.S. dollars to pay for exports, a move to increase trade between both nations that has been hit hard by a sharp depreciation of the Argentine peso.
Latin America and the Caribbean’s economy as a whole will grow by 3% this year and 3.3% in 2015 thanks to “improved economic conditions in the United States and Europe”, the Inter-American Development Bank said in a report released over the weekend.
Falkland Islands is reporting record catches of Illex and Loligo squid this season. News first arrived last Sunday when it was announced that local jiggers had caught the highest daily catch and highest catch rate of Loligo squid since at least 2000.
Houston based oil company Noble Energy expects to inject 4 million dollars into Falklands businesses with the construction of the temporary dock facility which arrived in the Islands this week, Senior Vice President Susan Cunningham told those attending a presentation in Stanley on Monday evening.
Brazil's economy expanded 2.3% in 2013, compared with growth of 1% the previous year, the Brazilian Institute of Geography and Statistics, IBGE, said this week. The country's GDP for 2013 was estimated at 4.84 trillion Reais (some 2.05 trillion dollars), the IBGE said.
Argentina formally requested the World Trade Organization's (WTO) Dispute Settlement Body (DSB) the establishment of a panel to address the European Union antidumping measures against Argentine bio-diesel. The initiative was rejected by the EU this week.
Argentina's new subsidies’ scheme will have an “insignificant” impact on prices since the whole package basically involves a 'redistribution' of funds, argued Cabinet Chief Jorge Capitanich, emphasizing the decision aims at “encouraging the rational and responsible use of public services.”