The board of Tata Sons, the holding company of the Tata Group, has unexpectedly replaced Cyrus Mistry as chairman. Ratan Tata has been named as interim chairman while a selection committee finds a permanent replacement.1 comment
Chinese Conglomerate HNA said it paid US$6.5bn for the stake previously owned by Hilton's biggest shareholder Blackstone. Chinese companies have increasingly been investing in tourism-related businesses overseas as more Chinese citizens travel abroad.Add your comment!
Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.Add your comment!
The International Energy Agency said in its latest report that last year the world's capacity to generate electricity from renewable sources has now overtaken coal, and renewable accounted for more than half of the increase in power capacity. The report says half a million solar panels were installed every day last year around the world and in China, there were two wind turbines set up every hour.Add your comment!
A new challenge for Tierra del Fuego province and its industrial promotion scheme: the Argentina government is planning to eliminate all tariffs on the import of computers and components beginning 2017, which is estimated could cost anywhere from 4.000 to 12.000 jobs.2 comments
Argentine president Mauricio Macri promised his Uruguayan peer Tabare Vazquez to look into the draft of a Uruguay/China free trade deal, and expressed their deep concern about political events in Venezuela suggesting that under the current circumstances the Nicolas Maduro government cannot be considered a member of Mercosur.7 comments
Brazil's Petrobras and France's Total oil companies announced on Monday a strategic alliance Monday for upstream and downstream projects as President Michel Temer pronounced Brazil's troubled economy reopened for business.Add your comment!
Argentina’s international currency reserves rose above the landmark US$40 billion for the first time in three and a half years last Friday, as a huge inflow of dollars from government-issued debt and some exports over the last few days caused some dramatic increases this week. The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”9 comments
Uruguay is expecting some 150 cruise calls this coming season 2016/17 which begins next month and represents some 300.000 visitors, according to Tourism minister Liliam Kechichian who nevertheless admitted that growth prospects are somehow behind schedule because of the high costs of reaching and operating in the port of Buenos Aires.1 comment
Brazil's central bank cut its key interest rate for the first time in more than three years on Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. The bank lowered the benchmark Selic rate by 0.25 points, to 14%, still one of the world's highest, and cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end.13 comments