Latin America

Thursday, June 9th 2011 - 19:24 UTC
Brazil hikes basic rate to 12.25% and further increases can be expected

Brazil's central bank increased late Wednesday its benchmark interest rate for the fourth straight meeting after consumer prices exceeded the upper limit of its target range for the first time since 2005.
Wednesday, June 8th 2011 - 23:09 UTC
GM bets strongly in South American market: 1.5 million cars per annum by 2015

General Motors expects to sell 1.5 million vehicles a year in South America by 2015, up from 1.03 million last year, according to the head of the largest U.S. automaker's operations in the region.
Wednesday, June 8th 2011 - 06:37 UTC
Air traffic in Buenos Aires and Montevideo returns to normal as ash cloud disperses

Argentina’s Civil Aviation agency (ANAC) and the Secretariat of Transport announced that the Ezeiza and Aeroparque airports are “now open and operating normally” as the ash cloud spewed by Chile’s Puyehue volcano late Tuesday seemed to be moving away from the Buenos Aires City and part of the River Plate area.
Wednesday, June 8th 2011 - 06:29 UTC
Humala’s victory in Peru seen from neighbouring but distant Chile

Sunday marked the end of a drawn out campaign for Peru’s presidency, as centre-left candidate Ollanta Humala claimed a narrow victory over centre-right candidate Keiko Fujimori.
Wednesday, June 8th 2011 - 06:26 UTC
Relatives of Cuban political prisoner Zapata Tamayo leave with his ashes for Miami

The body of political prisoner Orlando Zapata Tamayo, whose death by hunger strike last year provoked international criticism of Cuba was exhumed for cremation Tuesday, his family said, enabling them to take his remains when they emigrate to the United States.
Wednesday, June 8th 2011 - 06:13 UTC
Humala calls US a ‘strategic partner’ and plans to discuss taxes with corporations

Peru's nationalist president-elect Ollanta Humala said on Tuesday he will chart his own course, described the US as a ‘strategic partner’ and promised to discuss with mining companies his plans to tax windfall earnings to pay for social programs.
Wednesday, June 8th 2011 - 06:01 UTC
One way Cubana airline tickets to jail for 14 Cubans and a Chilean ring master

A Cuban court has convicted 14 government officials and businessmen and a Chilean entrepreneur for corruption and bribery involving the state-owned airline and a tourism agency.
Wednesday, June 8th 2011 - 03:14 UTC
“A Lula da Silva man steps down; a Dilma woman moves in”

Brazilian Senator Gleisi Helena Hoffmann, 45, wife of Communications Minister Paulo Bernardo has been chosen by President Dilma Rousseff to replace outcast Antonio Palocci as chief of staff.
Wednesday, June 8th 2011 - 02:17 UTC
Uruguayan homes pay highest power rates and fuel prices in South America

Uruguayan homes pay the dearest rates for power in South America and the highest fuel prices in the region, including taxes, according to a paper from the Argentine energy consultants Montamat & Asociados, released last month.
Tuesday, June 7th 2011 - 22:59 UTC
Brazil, Uruguay, Chile and Peru shoppers, most promising for retail expansion

Brazil, Uruguay, Chile and Peru figure among the short list of top ranked developing countries for global retail expansion. In the 10th annual Global Retail Development Index (GRDI), elaborated by global management consulting firm A.T. Kearney, Brazil jumped to first place from number 5 in last year’s study.