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Daily business news and information from Latin America
Updated: 42 min 28 sec ago
Metals - Brazil - CSN still considering possible IPO for mining operations
A possible IPO for CSN's (NYSE: SID) mining assets is still being considered by the Brazilian steelmaker, mining subsidiary Namisa CEO Charles Putz told reporters at the second annual Americas Iron Or...
Insurance - Brazil - Reported figure on Itaú XL implies 1.96 times book, higher than Porto Seguro deal - Ativa
Based on reported figures, Brazilian bank Itaú Unibanco (NYSE: ITUB) will pay a 1.96-multiple of book value for Bermuda-based XL Capital's (NYSE: XL) 50% stake in their corporate insurance JV Itaú XL,...
Infrastructure - Chile, Regional - Latin American authorities evaluating weigh-in-motion technology
Peru, Bolivia and Colombia are some of the countries looking to implement weigh-in-motion technology in an effort to reduce road and highway maintenance costs, a Chilean public works ministry (MOP) of...
Privatization - Peru - ProInversión postpones airport concession package again
Peru's private investment promotion agency ProInversión has once again pushed back the tender schedule for the concession of the second regional airport package, the agency reported in a release.
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Banking - Brazil - With BB's listing looming large, IOF tax pushes many to prioritize ADRs - BNY Mellon
With the planned ADR launch from federally controlled Banco do Brasil (BB) looming large, Brazil's recent imposition of a financial transactions levy, known as the IOF tax, is also pushing companies t...
Info. Technology - Chile - CCS expects e-commerce to reach US$27bn in 2009
The Santiago chamber of commerce (CCS) in Chile expects nationwide e-commerce spending for 2009 to reach US$27.3bn, up 14% compared to 2008, when the sector recorded spending of US$23.9bn, CCS researc...
Telecommunications - Regional - SES to invest US$75mn in O3b satellite project
Global satellite operator SES will invest US$75mn in UK-based O3B Networks (O3b), a satellite startup that plans to bring internet access to 3bn people in emerging markets, O3b said in a statement.
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Privatization - Chile, Regional - Latin American authorities evaluating weigh-in-motion technology
Peru, Bolivia and Colombia are some of the countries looking to implement weigh-in-motion technology in an effort to reduce road and highway maintenance costs, a Chilean public works ministry (MOP) of...
Water & Waste - Peru - Illegal gold mining out of control in Madre de Dios - experts
Peruvian authorities have no control over large areas of the country and have allowed illegal gold mining activities to destroy thousands of acres of rainforest in the Madre de Dios region, experts sa...
Infrastructure - Chile - Public, private sectors eye TrafiCam to improve traffic management
Chilean private firms and municipalities are considering installing the TrafiCam traffic camera system to improve transit management, public and private sector officials at the VIII Chilean and III Ib...
Mining - Mexico, Peru - Fortuna advancing San José to early 2010 construction start
Canada's Fortuna Silver Mines (TSX-V, Lima: FVI) is on track to complete a prefeasibility study by year-end at its San José silver-gold project in Mexico, and expects to have all permits necessary for...
Oil & Gas - Brazil - Petrobras to have three new drillships in pre-salt Santos basin by 1H10
Brazilian federal energy company Petrobras (NYSE: PBR) will have three new drillships in the offshore pre-salt area of the Santos basin by the first half of next year, CFO Almir Barbassa told a confer...
Electric Power - Chile - Works progressing at Maule geothermal project - Magma
Vancouver's Magma Energy (TSX: MXY) is currently constructing a road to carry drilling equipment to its Maule geothermal block 300km south of Santiago, the company's CEO Ross Beaty said in a conferenc...
Metals - Brazil - First Namisa pellet plant to come on stream in 2012
Brazilian iron ore miner Namisa will start production at the first of its two 6Mt/y pellet plants planned for Minas Gerais state at end-2012, CEO Charles Putz said during the second annual Americas Ir...
Banking - Brazil - Standard Chartered, Acción International get Lula's approval to start operations
Both Standard Chartered Bank from the UK and US-based microfinance group Acción International have received required approvals from Brazil's President Luiz Inácio Lula da Silva to start operations in ...
Banking - Brazil - S&P boosts ratings for Daycoval on liquidity, funding improvements
S&P has boosted ratings on Brazilian midsize bank Daycoval on an improvement on its funding base and liquidity situation, the ratings agency said in a statement.
The counterparty long and short-ter...
Telecommunications - Chile - Entel earnings drop 4% in Jan-Sep
Chilean telco Entel posted a 4% drop in net profit in the first nine months of 2009, due to a 45% decrease in mobile interconnection charges that were adjusted in January, the company said in a statem...
Info. Technology - Chile - GenShare to set up IT services delivery center
IT services provider GenShare is following in the steps of its mother company UST Global after selecting Chile as its new headquarters and IT services delivery center, the company said in a statement....
Petrochemicals - Brazil - Rhodia begins local production of glycerin-based solvent
French chemical firm Rhodia has begun production in Brazil of its Augeo solvent range based on glycerin, a byproduct of biodiesel production.
The solvent was developed in Brazil over three years an...
Privatization - Ecuador - Quiport updates environmental permit to continue construction
Ecuadorean capital Quito's new international airport (NAIQ) concessionaire Quiport is updating its environmental license request so that it can continue to carry out construction works at the facility...
