According to the Colombian government, Spanish telecoms giant Telefónica and Venezuela firm CANTV have both expressed an interest in buying state-owned Colombia Telecom, a controlling share of which is due to go under the hammer in March.
Category: Regions
Posted inDaily Brief
More Resignations In Panama
Trade talks between the US and Panama have claimed another casualty with the resignation Wednesday of the director of agricultural quarantine, Concepción Santos Sanjur. This follows the departure on Tuesday of Panama’s agriculture minister, Laurentino Cortizo, protesting the loss of agricultural sovereignty to the US and claiming that Panama would face an increase in animal diseases that would threaten the health of its citizens.
Posted inDaily Brief
Bolivian Fiscal Deficit Drops To Low
Bolivia’s fiscal deficit as a percentage of GDP fell to a 15-year low last year at only 1.6% as at year-end and well below the official initial target of 5.2%. In 2004 the deficit reached 5.5% of GDP. The remarkable improvement in the deficit was certainly helped by a 32% tax levied on foreign oil and gas companies. Meanwhile cumulative inflation for the year reached 4.91% and GDP growth was estimated at 3.9%.
Posted inDaily Brief
Fujimori Out Of Presidential Race
Peru’s Electoral Tribunal has ruled that former president Alberto Fujimori may not stand as a candidate in the country’s upcoming elections in April due to his ‘special disqualification’. Fujimori is currently being held under arrest in Chile awaiting extradition to Peru where he will likely face charges of corruption and human rights abuses. He resigned his presidency in 2000 after fleeing to Japan and in 2001 was banned from holding public office in Peru until 2011.
Posted inDaily Brief
Panama Offers Bond Swap
Panama has offered to swap five of its shorter-dated global bonds for a 30-year dollar-denominated bond as part of its strategy to extend its debt maturity profile and reduce its short-term debt burden. In November, the sovereign offered to swap four of its global bonds, due in 2008, 2011, 2012 and 2020 for up to $980 million new 20-year paper, yielding 7.295%.
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Lafarge Cements Investment In Ecuador
French cement-producer Lafarge, the largest in the world, plans to invest up to $12 million in its production in Ecuador over the next three years. Lafarge’s subsidiary in the Andean country, Cemento Selva Alegre, aims to use the investment to increase annual output from around 667,000 tonnes to 1 million tonnes and market share from 18% up to 20%. The local market in Ecuador is currently dominated by the world’s number two cement producer, Swiss-owned Holcim, which has 60% of the market.
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Morales May Extend Tour
President elect of Bolivia, Evo Morales, who is currently on a tour to meet world leaders, is considering extending his travels to visit India and possibly Iran before moving on to South Africa. Morales met Chinese dignitaries on Monday and spoke of his desire to see China invest in Bolivia’s energy industry. He has already met with European leaders to discuss their countries’ continued involvement. Morales began his international journey in Cuba on 31 December and is due to visit Argentina on 17 January before returning home.
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Fujimori Election Candidate
Ex president of Peru, Alberto Fujimori, has been registered by his eldest daughter and former ‘first lady’, Keiko Fujimori, and supporters as a candidate in the country’s presidential elections slated for April. This, despite being held under arrest in Chile awaiting extradition to Peru to face charges of corruption and human rights abuses. Fujimori, who resigned his presidency via fax in 2000 after fleeing to Japan, has been banned from holding public office until 2011. The Electoral Court is due to rule on his registration this week.
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Morales Promises ‘Radical’ Treatment for Oil Companies
Evo Morales, Bolivian president-elect, said he will stop oil companies’ “illegal” operations and promises to wage the economic equivalent of guerrilla warfare to eliminate poverty. “The only difference between Che Guevara and me is that he used arms,” Morales said in Madrid. “We don’t want to change things with bullets, but with votes.” He said, “We will be radical with oil companies that don’t obey Bolivian law, that don’t pay taxes and are smugglers,” he said.
Posted inDaily Brief
Avian Flu in Mexico
Mexican officials say they have detected more outbreaks of avian flu in the southern state of Chiapas and ordered a cull of 300 chickens to prevent the disease from spreading. Officials said there was no indication that the flu had infected humans in the area, close to the frontier with Guatemala.