Latin America

Latin America
Monday, May 18th 2015 - 04:32 UTC

Massive turnout in Guatemala demanding president Perez Molina steps down

Despite the rain, demonstrators in 13 cities across the Central American nation banged drums and blew whistles in the peaceful protests.

Thousands of Guatemalans took to the streets on Saturday, demanding the nation's President Otto Perez Molina leave office in the wake of a scandal that claimed his former Vice President Roxana Baldetti.

Saturday, May 16th 2015 - 08:03 UTC

Opposition wins in Guyana defeating party in power for 23 years

David Granger and his Partnership for National Unity-Alliance for Change Coalition got nearly 207,000 votes in Monday’s ¬general elections.

A retired army general is poised to become Guyana’s new president after a multi-ethnic opposition ¬coalition defeated a party that has been in power for 23 years, officials said. Preliminary results show David Granger and his Partnership for National Unity-Alliance for Change Coalition got nearly 207,000 votes in Monday’s ¬general elections.

Friday, May 15th 2015 - 07:38 UTC

The project of a trans-continental railway, Atlantic to Pacific, with Chinese funds

The 10bn dollar mega project is expected to be formalized during a four-country Latin American tour by Chinese Premier Li Keqiang

Peru, Brazil and China are moving forward on a transcontinental railway that will cut across the continent, climb the Andes and connect port cities in the Pacific and Atlantic coasts.

Friday, May 15th 2015 - 04:41 UTC

Exxon discovers oil off Guyana coast, in territory claimed by Venezuela

The discovery is located in the Stabroek Block off a border region that is claimed by Venezuela in a territorial controversy dating back over a century

Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela.

Thursday, May 14th 2015 - 01:45 UTC

Partial recount of Guyana's May 11 general elections votes delays results

The PPP/C is only requesting reviews “in areas where we had reports of a lot of votes were rejected for spurious reasons” indicated President Donald Ramotar

The release of official results from Guyana’s May 11 general elections has been delayed for at least another 48 hours to allow for a partial recount, the Guyana Elections Commission, known as GECOM, said on Wednesday.

Wednesday, May 13th 2015 - 08:37 UTC

IDB 216m dollars loan for Uruguay to support construction of wind farms

Financing for the wind farms is partly supported by the China Co-financing Fund for Latin America and the Caribbean, created by Beijing

The Inter-American Development Bank (IDB) continues to support the expansion of renewable energy in Uruguay through two financial packages, totaling 216 million dollars, which were approved for the private sector to finance part of the construction of the Colonia Airas and Valentines wind farms and their related works.

Wednesday, May 13th 2015 - 08:29 UTC

Petrobras still Latam's top company but fell to second-worst performer because of corruption losses

Petrobras has gone from Latam's most profitable company to the second-worst performer after Mexican state oil company Pemex (a perennial money loser).

Brazil's state oil giant Petrobras remains Latin America's top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to a new ranking of the region's 500 largest companies from digital publication Latinvex.

Wednesday, May 13th 2015 - 08:21 UTC

Latam to debate controversial issue: 'post Washington Consensus' industrial policies

IDB president Moreno will open the seminar and Ms Rodríguez, manager of the IDB’s Institutions for Development Department, will moderate the debate

The Inter American Development Bank, IDB, has organized a seminar to discuss industrial policies in Latin America and the Caribbean in a post Washington-Consensus framework. Anemic economic growth in the region is in need of policy shot in the arm.

Wednesday, May 13th 2015 - 08:14 UTC

Remittances to Latin America and Caribbean beat the 2008 pre-crisis record

“Remittances remain an important source of income for millions of families in Latin America and the Caribbean,” said IMF Fernando Jimenez-Ontiveros

Remittances to Latin America and the Caribbean set a new record high in 2014 with 65bn dollars basically supported by the recovery of the economy and labor market in the United States, according to the latest release from the Inter American Development Bank.

Wednesday, May 13th 2015 - 08:05 UTC

Bolivia closer to Mercosur full membership; coming summit in Brasilia decisive

In April it was agreed that the Bolivian incorporation is to be ratified with a new protocol in which Paraguay figures as Mercosur full member

Bolivia is closer to becoming a full member of Mercosur following on Argentina's ratification of the Adhesion Protocol.

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