Business News South America

  • Venezuela's President Nicolas Maduro talks to the media during a news conference at Miraflores Palace in Caracas, Venezuela October 17, 2017.

    After Venezuelan President Nicolas Maduro's 60-fold increase to the minimum wage, storeowners on Saturday wrestled with an anguishing decision.

  • PUNTO FIJO/ SAN CRISTOBAL, Venezuela, Aug 18- A fter Venezuelan President Nicolas Maduro's 60- fold increase to the minimum wage, storeowners on Saturday wrestled with an anguishing decision: Close up shop or hit customers with steep price hikes at the risk of sinking the business. Economists warned that some companies would go under, unable to shoulder the...

  • PUNTO FIJO/ SAN CRISTOBAL, Venezuela, Aug 18- A fter Venezuelan President Nicolas Maduros 60- fold increase to the minimum wage, storeowners on Saturday wrestled with an anguishing decision: Close up shop or hit customers with steep price hikes at the risk of sinking the business. Economists warned that some companies would go under, unable to shoulder the...

  • CARACAS, Venezuela— Venezuelan President Nicolas Maduro raised wages for the fifth time this year and said he wanted to peg prices to the nation's fledgling cryptocurrency as part of a package of measures that economists say is likely to accelerate hyperinflation. Maduro made the announcement in a televised address Friday night ahead of a previously...

  • BUENOS AIRES- Central Bank of Argentina releases monetary policy statement WARSAW- National Bank of Poland holds monetary policy council meeting. BUDAPEST- Hungarian Central Bank holds its rate-setting meeting- 1200 GMT. SYDNEY- Reserve Bank of Australia will release the minutes of August monetary policy meeting 0130 GMT.

  • CARACAS, Aug 17- Venezuelan President Nicolas Maduro said on Friday night the country would establish a single exchange rate that would be pegged to his leftist administration's Petro cryptocurrency.

  • CARACAS/ MARACAIBO, Aug 17- Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation could wreak financial havoc and make basic commerce impossible. Shoppers sought to ensure their homes were fully stocked with essentials such as food and dry...

  • SAO PAULO, Aug 17- Mexico's peso firmed on Friday after U.S. and Mexican officials said they were close to settling differences in NAFTA trade talks, while Brazilian equities slid on presidential race jitters. Mexico's peso shook off losses to gain about 0.6 percent after a top White House economic adviser said on Friday that Washington was "very, very close" to...

  • SAO PAULO, Aug 17- U.S. private equity firm GTIS Partners LP has put four major properties in Sao Paulo up for sale, four people with knowledge of the matter said, in what could be one of Brazil's largest real estate transactions in recent years. The auction, which could bring close to $400 million for the office towers alone, is the latest sign of a revival in Brazil's...

  • SAO PAULO, Aug 17- Brazilian equities slid on Friday after a major opinion poll painted a grim picture for the market's favorite presidential candidates, while concerns regarding Turkey's lira currency lingered. The poll also showed leftist former Sao Paulo Mayor Fernando Haddad gaining ground, while market-friendly centrist Geraldo Alckmin struggled to...

  • SAO PAULO, Aug 17- Ride-hailing company Uber Technologies Inc plans to open a 250 million reais center in Brazil to develop technology to improve safety for its riders and drivers, including for drivers to accept cash, a key payment method in its rapid expansion in Latin America, the company said on Friday. The development center, Uber's first in Latin America and...

  • SAO PAULO, Aug 17- Fears of e-commerce taking off in Brazil have sunk shares of the country's big mall operators this year, but industry executives expressed confidence that local shopping habits, the reputation of malls as public spaces safe from crime and other factors will help them avoid the shakeout that has hit their U.S. peers. They say a better mix of...

  • SAO PAULO, Aug 17- Ride-hailing company Uber Technologies Inc plans to open a 250 million-reais center in Brazil that will research technology to make it safer for its drivers to accept cash, a key payment method in its rapid expansion in Latin America, the company said Friday. Uber's Safety Product Director Sachin Kansal said in an interview that the investment...

  • **MANILA, Philippines- Philippines central bank Governor Nestor Espenilla Jr. at an economic forum 0130 GMT. **JOHANNESBURG, South Africa- South African Reserve Bank Governor Lesetja Kganyago addresses learners- 1030 GMT BOGOTA- Colombia's new president Ivan Duque, as well as members of his cabinet, central bank board members and business leaders will attend a...

  • LIMA, Aug 16- A LATAM Airlines passenger plane that departed Lima for Santiago, Chile, on Thursday was forced to land at an airport in southern Peru due to a bomb threat received by authorities in both countries, Peru's Transportation Ministry said. No one was injured on LATAM flight 2369 and a team for deactivating explosives has been notified, the ministry said.

  • Banco de Chile, one of the country's biggest commercial banks, has said a hacking operation robbed it of $10 million in June. Santiago was the fourth stop for Mattis on a tour of South America that began in Brasilia on Sunday. He also visited Rio de Janeiro and Buenos Aires and is scheduled to hold talks in Bogota, Colombia, on Friday.

  • RIO DE JANEIRO/ SAO PAULO, Aug 16- A potential ban on the popular herbicide glyphosate in Brazil over concerns it may cause cancer in humans would be a "disaster" for the country's agricultural industry, Agriculture Minister Blairo Maggi said on Thursday. Brazil is the world's top exporter of soy and a major producer and exporter of corn. Brazil's Solicitor...

  • SAO PAULO, Aug 16- Latin American currencies bounced back on Thursday as traders were relieved by news China would hold trade talks with the United States this month while Turkey's lira currency continued to rebound. China's Ministry of Commerce said late on Wednesday that a delegation led by Vice Commerce Minister Wang Shouwen would travel to the United...

  • BUENOS AIRES, Argentina _ Despegar.com Corp. on Thursday reported earnings of $1.2 million in its second quarter. The Buenos Aires, Argentina- based company said it had profit of 2 cents per share. Despegar.com shares have decreased 29 percent since the beginning of the year.

  • SAO PAULO, Aug 15- Mexico's peso sank by the most in over two months on Wednesday as Latin American equities and currencies were rattled by jitters over Turkey that led to a global sell-off in emerging market assets and commodities. Mexico's peso fell about 1.6 percent, its biggest intraday fall since early June and was on track to close at its weakest in five weeks.