Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy.
China's Yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the Yuan's mid-point at 6.4856 against the US dollar on Monday.
Telefonos de Mexico SAB, the country’s largest phone carrier plunged the most in the stock market since December 2008 after the government rejected its application to start offering video services.
Former Brazilian Industry and Foreign Trade Minister Miguel Jorge decided to weight in on the bilateral trade conflict currently affecting Brazil and Argentina, and surprisingly came out in defence of the Cristina Fernández de Kirchner administration, comparing President Rousseff’s move to impose non-automatic licenses on car and auto-parts imports as “firing a cannon ball.”
Argentine president Cristina Fernandez de Kirchner ratified before Mexican businessmen that her government will continue to advance the current ‘development inclusion model’ with strong policies in support of the domestic market and exports with added value.
Banco do Brasil, Latin America’s largest financial institution has requested a licence to operate in Uruguay as a commercial bank according to the Brazilian government’s news agency.
Brazilian president Dilma Rousseff arrives Monday in Uruguay, the third country she will be visiting after China and Argentina, since taking office last January first. The two countries are founding full members of Mercosur and Brazil is Uruguay’s main trade partner.
The nations of Latin America and the Caribbean have an unprecedented opportunity to attain human development standards comparable to the industrialized world by 2025, Inter-American Development Bank President Luis Alberto Moreno said on Friday.
The Inter-American Development Bank, IADB, will lend Argentina 1.3 billion US dollars this year, the bulk of which will be used for infrastructure projects, such as expanded roadways and sewage systems as well as a plan to improve neighbourhood conditions, announced president Luis Alberto Moreno.
Uruguay has the most expensive cattle in the world in moments when international beef prices tend to slide which makes it very difficult to have a reasonable operation forcing abattoirs to leave workers redundant.