Category: Regions
Posted inDaily Brief

Uribe Election Favorite

by LatinFinance

Colombian pollster Napoleón Franco says President Alvaro Uribe’s approval ratings hit 77% in June. However, his economic policies and attempts to cut unemployment made little impression on potential voters, scoring 37% and 29% respectively. Just under half of respondents say Uribe’s re-election would harm the country and 49% no longer felt that rebel insurgents presented a threat.

Raul Reyes, a spokesman for FARC leftwing rebels, proposed exchanging three kidnapped US defense contractors for two guerrilla leaders jailed in the US. This is the first time the FARC has offered to open direct talks with the US. Washington rejected the offer, saying it does not negotiate with terrorists.

Posted inDaily Brief

Mexico Approves Voter Plan

by LatinFinance

Legislators approved a law allowing Mexicans living abroad to vote in next year’s presidential elections. Congress approved the legislation by 455 votes, with six abstentions. Some 11 million Mexicans live in the US and about 4 million already have voting papers allowing them to vote in the July 2006 election. Nearly all Mexicans living abroad reside the US.

Posted inDaily Brief

Bolivian Exports Up

by LatinFinance

Despite political turmoil Bolivian exports rose 17 percent year-on-year to a record high $957 million in the five months through May. Oil and gas exports led the way at $415 million, followed by manufactured goods at $350 million and minerals at $135 million. Agricultural exports jumped 40 percent to $52 million.

Posted inDaily Brief

AHMSA Eyes Israel

by LatinFinance

Altos Hornos de Mexico SA (AHMSA) is considering a $100 million investment to build copper mines in Timna, Israel. The company estimates that mines in the region have sufficient reserves to allow production of 50,000 tons of copper a year for 10 years. Mines near Timna have been shut since 1985 but Israel plans to reopen them due to record high copper prices.

Posted inDaily Brief

Mexico: End to Cuts Signaled

by LatinFinance

Mexican central bankers dropped from their monthly policy statement a sentence saying the country’s interest rates should follow rising US rates, which some interpret as a signal they’re done raising rates after 12 increases in 14 months. The central bank has raised its benchmark lending rate to 9.75 percent to drive inflation down to its 3 percent annual target. Inflation in May was 4.6 percent. Expectations of lower interest rates have increased demand for Mexico’s fixed-rate bonds; the yield on Mexico’s peso-denominated note due in 2014 has been below the overnight lending rate since June 8.

Posted inDaily Brief

Digicel Expands

by LatinFinance

Telecommunications firm Digicel won a spectrum auction to operate a mobile network in Trinidad and Tobago, marking the company’s latest expansion. Last week Digicel acquired Cingular’s assets in the Caribbean and signed a roaming agreement with the US giant. Bermuda-based Digicel hopes to create a cohesive telecom network across the Caribbean and has already invested $600 million to expand operations into 15 countries.

Posted inDaily Brief

Mexico: Export Growth Slows

by LatinFinance

Mexico’s exports rose 13 percent year-on-year in May to $18.31 billion on decelerating demand from the US, which buys 85 percent of Mexico’s exports. Exports were up 18 percent year-on-year in April. Mexico’s GDP grew 2.4 percent in the first quarter, down from 4.9 percent in the fourth quarter of 2004.

Posted inDaily Brief

Carlos Guimarães, Private Sector Coordinator, Inter-American Development Bank and Luis Videgaray, Director, Protego Asesores

by LatinFinance

are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana

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