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Daily business news and information from Latin America
Updated: 31 min 8 sec ago
Oil & Gas - Venezuela - Repsol to drill new Perla exploratory well, import price an indicator
Spain's Repsol YPF (NYSE: REP) plans to drill a new exploratory well on the Perla natural gas field offshore Venezuela early next year, announced company COO Miguel Martínez.
The exploratory well w...
Electric Power - Mexico - Comexhidro could develop two new hydro projects
Mexican hydroelectric developer Comexhidro could start construction on two new hydroelectric projects with a combined capacity of 57MW in 1.5 years, Comexhidro commercial director Jacobo Mekler told B...
Info. Technology - Brazil, Regional - Tivit banking on financial sector opportunities in 2010 - CEO
Brazilian IT and business process outsourcing firm Tivit is expecting financial sector opportunities to continue growing in 2010, the company's CEO, Luiz Mattar, told BNamericas.
Mattar said consol...
Privatization - Chile - Govt's early decision on TAGs facilitated integration
The Chilean government's decision to set parameters for electronic toll collection devices, known locally as TAGs, before concessioning highways facilitated the integration of the system in a very sho...
Banking - Brazil - Large-scale efforts to slow credit growth trend could be politically costly, says Febraban
Large-scale efforts to flatten Brazil's credit growth path, as have been suggested by the central bank BCB, could be politically costly, chief economist Rubens Sardenberg at banking federation Febraba...
Insurance - Regional - JMalucelli looks to expand to Argentina, Ecuador and the Dominican Republic
JMalucelli Resseguradora, the reinsurance unit of Brazilian financial group Paraná Banco, has announced in a statement that it plans to expand to other countries in Latin America including Argentina, ...
Mining - Argentina - IRL eyes US$5mn in exploration at Don Nicolás in 2010
Lima-based Minera IRL (Lima, AIM: MIRL) is budgeting US$5mn for drilling next year at its soon-to-be-acquired Don Nicolás project in southern Argentina, said executive chairman Courtney Chamberlain.
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Metals - Brazil - CSN, Usiminas cashing in on country's strong vehicle sales
Brazilian flat steel producers CSN (NYSE: SID) and Usiminas (Bovespa: USIM5) will continue to profit from the country's record-setting pace of vehicle sales, steel market analysts told BNamericas.
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Infrastructure - Chile - Intelligent transport systems crucial for connectivity - MOP
The rapid incorporation of intelligent transport systems to Chile's transport infrastructure has played a crucial role in improving the country's connectivity, public works (MOP) deputy minister Juan ...
Privatization - Chile - Bachelet promotes transport, water projects with South Korean investors
Chilean President Michelle Bachelet promoted infrastructure and water projects in a meeting with South Korean private sector representatives, an official from the Chilean presidential office told BNam...
Water & Waste - Chile - Govt to invest over US$18mn in floodable park - MOP official
The Chilean government will invest over 9.2bn pesos (US$18.2mn) in the La Hondonada floodable park in the metropolitan region's Cerro Navia district, an official from the public works ministry''s (MOP...
Mining - Regional - Pan Am Silver unveils record results in Q3 thanks to San Vicente, Manantial Espejo
Vancouver-based Pan American Silver (TSX: PAA) posted record production, earnings and a drop in costs for the third quarter, thanks mostly to the strong performance of its San Vicente mine in Bolivia ...
Petrochemicals - Mexico - Braskem, Idesa aim to close Ethylene XXI financing by end-2010
Brazilian and Mexican petrochemical companies Braskem (NYSE: BAK) and Idesa hope to close financing for their US$2.5bn Ethylene XXI project by the end of next year, Idesa director José Luis Uriegas sa...
Banking - Brazil - Sofisa takes US$6.28mn loss as operating expenses creep past lending revenues
Brazilian Banco Sofisa took a loss of 10.7mn reais (US$6.28mn) in the third quarter, after gains of 2.05mn reais in 2Q09 and 21.2mn reais in 3Q08, with operating expenses inching past lending revenues...
Oil & Gas - Mexico - Chicontepec development will continue - Trinidad Drilling
Development of Mexico's Chicontepec field will continue but at a more measured pace, according to Calgary-based Trinidad Drilling's (TSX: TDG) CEO Lyle Whitmarsh.
Chicontepec has come under fire as...
Electric Power - Regional - Power restored after blackout, Itaipu blames transmission network
Power has been restored in Brazil following a massive blackout that left 18 states in the dark for several hours late Tuesday and into early Wednesday, national grid operator ONS said in a statement.
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Telecommunications - Brazil - Attorney general opens public consultation period on Telesp's bid for GVT
The attorney general's office in Brazil's São Paulo state has opened a five-day public consultation period for the reception of observations on incumbent telco Telefônica Telesp's (NYSE: TSP) 7bn-real...
Info. Technology - Regional - Latin America emerges as main growth region for Intermedia
US hosting services provider Intermedia sees Latin America as one of the fastest growing regions, especially after the launching of the user control panel in Spanish, which allows Latin American partn...
Insurance - Regional - ING Latin American pre-tax profit rises 43.3% in Q3, gets ready for split
Dutch group ING (NYSE: ING) took in underlying pre-tax profits from its Latin American insurance units of 86mn euros (US$129mn) in 3Q09 for a 43.3% increase from 3Q08 on a nominal basis, as it gets re...
Banking - Brazil - BicBanco Q3 earnings drop 26.6%, as revenue declines outpace cost reductions
Brazilian midsize bank BicBanco had net income of 76.1mn reais (US$44.7mn) in the third quarter, down 26.6% from 3Q08, as declines in revenue outpaced cost reductions, according to the bank's latest e...
