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Daily business news and information from Latin America
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Telecommunications - Puerto Rico - AT&T completes acquisition of Centennial
AT&T Mobility (NYSE: T) has finally completed the acquisition of wireless and broadband provider Centennial Communications, which operates in the US, Puerto Rico and the US Virgin Islands, AT&T said i...
Oil & Gas - Mexico - CNH to issue Chicontepec recommendation next month, says commissioner
Mexico's upstream watchdog CNH will send its recommendation for the Chicontepec oil project in Puebla and Veracruz states to state oil firm Pemex's board in December, CNH commissioner Javier Estrada t...
Insurance - Brazil - IRB results show headwinds, but reinsurer still well-positioned - expert
The lower results from Brazil's federally controlled reinsurer IRB-Brasil Re demonstrate some of the headwinds the company is facing, but IRB remains well-positioned to take advantage of the country's...
Petrochemicals - Brazil, Venezuela - Financing model for Propilsur could be defined next quarter, says Braskem
Brazilian petrochemical company Braskem (NYSE: BAK) is studying financing options with Brazil's federal development bank BNDES and Venezuela's state-owned development bank Bandes for its Venezuelan pr...
Infrastructure - Peru - ProInversión launches tender for stretch 2 of IIRSA Centro highway
Peru's private investment promotion agency ProInversión has launched a tender to concession a section of the IIRSA Centro highway, the entity reported in a release.
Stretch 2 involves the Puente Ri...
Mining - Regional - Silver Standard reports disappointing results for Pirquitas mine in Q3
Due to disappointing results from initial production at the Pirquitas mine in Argentina, Vancouver-based Silver Standard Resources (TSX: SSO) revised down its output forecast for the mine to 1M-1.5Moz...
Metals - Brazil - Steel distributors' sales, purchases expected to have increased in October
Brazilian flat steel distributors are expected to have increased both purchases from mills and sales volume in October compared to the previous month, according to Christiano Freire, the CEO of local ...
Banking - Peru - Credicorp Q3 net income increases 31%, preparing for period of sustained growth
Peru's largest financial services group Credicorp (NYSE: BAP) reported third quarter net income of US$122mn, up 5.6% on the second quarter and rising 31.4% year-on-year, the group said in its latest e...
Water & Waste - Mexico - Waste incineration at Bordo Poniente would be "suicide" - expert
A new plan by Mexico city's federal district (DF) government to incinerate garbage at the Bordo Poniente landfill would have devastating effects on the environment and the population, local environmen...
Electric Power - Chile - GDF Suez, Codelco to merge all SING operations into Edelnor
European energy firm GDF Suez and Chile's state copper company Codelco have signed an agreement to merge all of their power operations on Chile's northern SING grid into the Edelnor JV in which they e...
Info. Technology - Regional - Latin America to represent 3-5% of global earnings in 3 years, says Cognizant
US IT services firm Cognizant (Nasdaq: CTSH) expects Latin America to represent 3-5% of global sales within the next three years, the company's country manager for Argentina, Cristián Argüello, told B...
Privatization - Ecuador - New hydrocarbons terms take attractiveness "from bad to worse" - analyst
The new terms for Ecuador's hydrocarbons sector proposed in a bill drafted by the mines and oil ministry would take the country "from bad to worse" in terms of attracting private investment, Gianna Be...
Infrastructure - Regional - Peru's CPS de Ingeniería eyes expansion in Bolivia, Central America
Peruvian engineering and consultancy firm CPS de Ingeniería is looking to expand its presence in Bolivia and plans to continue its international expansion, the firm's transport specialist Alan Martino...
Mining - Mexico - Alamos Gold achieves record quarterly output at Mulatos
Toronto-based Alamos Gold (TSX: AGI), which runs the Mulatos mine in Mexico, reported a 6.52% year-on-year increase in its gold output for the third quarter to 42,500oz and posted net earnings of US$1...
Metals - Brazil - Gerdau boosts 2010-14 capex budget to US$5.2bn
Brazilian steelmaker Gerdau (NYSE: GGB) has set a capex budget of 9.5bn reais (US$5.2bn) for the 2010-14 period, CEO André Gerdau Johannpeter said Thursday during a conference call.
The previous 6...
Banking - Brazil - Febraban survey boosts 2009 credit growth by 1 point to 17.9%, sees IOF tax as ineffective
Credit in Brazil looks set to rise 17.9% this year, according to the latest survey by Brazilian banking federation Febraban, lifting the projection from 16.9% in the previous survey in September, mean...
Banking - Bolivia - Remittances drop 7.3% in January-August
Remittances sent home by Bolivians living abroad totaled US$668mn from January-August this year, down 7.3% from the same period last year, according to the central bank (BCB).
In August alone, rem...
Electric Power - Colombia, Panama - Interconnection could start up in 2014, says ISA chief exec
A power interconnection under development between Colombia and Panama could begin operations by early 2014, Luis Fernando Alarcón, CEO of Colombian state transmission company ISA, said in a conference...
Water & Waste - Chile - Bachelet to sign bill for irrigation funding by month end - legislator
Chilean President Michelle Bachelet is expected to sign by month-end a bill modifying state financial support for irrigation and drainage projects, a member of the lower house's agriculture committee ...
Telecommunications - Regional - Yota expects WiMax network in Managua to be ready by Dec
Russian WiMax operator Yota expects its WiMax network in Nicaragua to be ready in December, company business development director Yegor Ivanov told BNamericas.
In October, Yota won an auction for a...
