Bharrat Jagdeo, of the ruling People’s Progressive Party (PPP), has been elected for a third consecutive term as president of Guyana. With 99.3% of votes counted, the ruling PPP had earned 55% of the vote, followed by Robert Corbin of the People’s National Congress (PNC) with 34%. The Alliance For Change (AFC) party, which stood on a platform of racial unity, managed to gain 8% of voter support. The PPP, which is seen to represent the majority Indo-Guyanese population, has held power in Guyana since 1992. Jagdeo, a 43-year old Russian-educated economist, is regarded as a pragmatist who believes in free trade and foreign investment.
Category: People
Posted inMagazine
In for the Long Haul
Richard Frank, CEO of Darby Overseas Investments, which has taken positions in more than a half-dozen Latin American banks, explains why the segment remains attractive for private equity.
Posted inMagazine
Executive Excellence
Banco Itaú CEO Roberto Setúbal is a legend among investors for delivering double digit returns to shareholders throughout his 11 years at the helm.
Posted inDaily Brief
People
Our Man at the IDBColombia’s ambassador to Washington, Luis Alberto Moreno, won a decisive election victory to take over as president of the Inter-American Development Bank. He soundly beat rivals […]
Posted inDaily Brief
GE Increases Brazil Sales Forecast
General Electric increased its 2005 sales forecast in Brazil from $1.2 billion to $1.5 billion on rising lending and sales of equipment such as jet engines. CEO Jeffrey Immelt said in his annual report to shareholders in March that he expects 60 percent of the company´s sales rise in the next decade to come from outside the US. GE forecasts total sales will rise to as much as $170 billion this year from $152 billion in 2004.
Posted inDaily Brief
Varig CEO Leaves
Henrique Neves, the CEO of Brazil´s troubled airline Varig, quit his post and was replaced by the company´s deputy chairman Ornar Carneiro da Cunha, who will be the company´s eighth CEO in five years. Varig has struggled in recent years to compete with Brazil´s discount carrier Gol and has consistently lost market share.
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Learning to Excite
People often say that Latin America’s relevance to the capital markets and the global economy is shrinking and, as a result, investment banks and investors aren’t nearly as interested in […]
Posted inDaily Brief
Embratel May Up Investments
Brazil’s long-distance phone carrier Embratel may invest more than the $540 million initially planned for this year. CEO Carlos Henrique Moreira said that further investments will depend on the success of a capital increase of up to $700 million being carried out by Mexican parent company Telmex. Embratel’s capital increase is slated to be completed on April 27.
Posted inMagazine
A Contender Again
Manuel Medina-Mora, the CEO of Citigroup in Latin America, lays out his plan for the bank’s future
in the region.