Latin America

Latin America
Tuesday, March 10th 2015 - 06:56 UTC

Renewal of car quotas with Mexico reveals shortcomings of Brazilian industry

“We need to deal with our competitiveness issues before reaching a free-trade agreement with any nation,” said Moan, head of Brazil’s auto-maker association

Brazil and Mexico announced the renewal of vehicle quotas for four years, delaying the implementation of a free-trade agreement between the two countries. Under the new agreement, Brazil and Mexico will permit $1.56 billion of duty-free vehicle imports for the first year of the agreement. That amount will rise 3% each year until the agreement expires, in 2019, when they’ll return to a free-trade regime.

Tuesday, March 10th 2015 - 06:46 UTC

ECLAC estimates 28% of Latin America's population live in poverty

It is estimated 2014 will reveal a similar 28% poverty, which given demographic growth would translate into an increase in absolute figures to 167 million people.

Poverty affected 28% of Latin America’s population in 2014, revealing that its decline has stalled at around that level since 2012, while indigence rose to 12.0% from 11.3% during the same two-year period in an overall context of economic deceleration, according to the projections from a study released by the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile.

Monday, March 9th 2015 - 07:59 UTC

Peru to withdraw ambassador from Chile because of alleged military espionage

“This is a matter which falls exclusively to Peru,” Chile's foreign minister, Heraldo Munoz, said of Lima's decision to pull its ambassador out.

Peru said it was withdrawing its ambassador from Chile, amid an intensifying diplomatic spat that was sparked by accusations of military espionage. The Peruvian government is prosecuting two non-commissioned officers in its navy and investigating a third for allegedly spying for neighboring Chile.

Monday, March 9th 2015 - 07:39 UTC

Colombia and FARC agree to clear minefields; 11.000 people killed in 15 years

The International Campaign to Ban Landmines (ICBL-CMC) ranked Colombia second behind Afghanistan for highest number of children killed or wounded by landmines

Colombian government and Marxist oriented guerrillas jointly announced an agreement to remove landmines and other explosives from the battlefield in a sign of progress in their two-year-old peace talks being held in Cuba.

Friday, March 6th 2015 - 09:06 UTC

Mercosur has failed, Argentina needs new partners: the Pacific Alliance?

“We will have to find some other group, which could be the Pacific Alliance” said Eurnekian. Integration is vital so Argentina can address global  challenges

“Mercosur as a unified space has failed and Argentina must start thinking in a new partner, which could be the Pacific Alliance” said one of Argentina's main businessmen with interests in a diversified portfolio, Eduardo Eurnekian. He made the statement on the sidelines of the World's Chambers Federation executive board meeting in Buenos Aires.

Friday, March 6th 2015 - 07:42 UTC

UK and Mexico sign memorandum to further expand and finance trade

UKEF Business Group Director Steve Dodgson and Bancomext Deputy General Director Finance Miguel Siliceo Valdespino during the ceremony in London.

The UK and Mexico signed in London a memorandum to further support trade and markets, and advance cooperation between the two countries export promotion organizations, UK Export Finance and Bancomext, Mexican Trade Development Bank.

Friday, March 6th 2015 - 07:32 UTC

PM Cameron and Peña Nieto discuss agenda of bilateral and global issues

The Mexican president was received at Downing Street

British Prime Minister David Cameron welcomed President Peña Nieto of Mexico to Downing Street on Thursday afternoon as part of his State Visit to the UK.

Thursday, March 5th 2015 - 06:23 UTC

UK/Latam links have seen 36% rise in trade and investment, says minister

Swire made the statement on receiving Mexican president Peña Nieto on a state visit to UK

Foreign Office minister Hugo Swire underlined the growing links of the United Kingdom with Latin America during the state visit of president Enrique Peña Nieto from Mexico, a country with which he feels a close affinity, and is 'integral to the success of the UK”.

Monday, March 2nd 2015 - 07:00 UTC

Uruguay's Vazquez returns to office a decade later but with a different economic climate

The incoming and outgoing presidents effusively embrace in the stage mounted in the Independence Plaza

Tabare Vazquez was sworn in as president of Uruguay Sunday, returning to office a decade after first leading the centre left catch-all coalition to power and drawing a curtain on folksy farmer Jose Mujica's colorful rule. Vazquez, a cancer doctor with a more buttoned-down style than the outspoken Mujica, won 53.6% of the vote in a November 30 presidential run-off, reclaiming the office he previously held from 2005 to 2010.

Monday, March 2nd 2015 - 06:39 UTC

ExxonMobil ready to begin exploratory drilling offshore Guyana

 Persaud was updated on the deployment of the oil rig which will depart from Louisiana, for the Stabroek Block offshore Guyana to start drilling mid-March.

Exxon Mobil says plans are in place to start exploratory drilling in Guyana this month. In a release it was disclosed that the Guyana Minister of Natural Resources Robert Persaud, met with Chuck Calavan, ExxonMobil Vice President of US and Latin America and Jeff Simon, Country Manager, ESSO.

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