Business News South America

  • SAO PAULO, Sept 19- A Rio de Janeiro appeals court has determined that billions of dollars in fines owed to regulators by Brazil's Oi SA will be included in the company's bankruptcy recovery package, a ruling showed on Wednesday. Oi, Brazil's largest fixed line telecom company, entered bankruptcy in 2016, and in late 2017 creditors approved a plan to convert...

  • BRASILIA, Sept 18- Support for Brazilian far-right presidential front-runner Jair Bolsonaro edged up ahead of next month's election, a poll showed on Tuesday, but Workers Party candidate Fernando Haddad moved into second place, with the two running neck and neck in a likely runoff. In first-round voter intentions, center-left candidate Ciro Gomes stalled at...

  • CARACAS, Venezuela— Venezuelan President Nicolas Maduro said Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy. Already a major economic partner, China has agreed to invest $5 billion more in Venezuela, Maduro said...

  • BOGOTA, Sept 18- Colombia will reach its growth potential of 3.5 percent next year as the economy fully recovers but will remain vulnerable to global trade pressures, new central bank board member Carolina Soto said. I think we'll grow a minimum of 3.5 percent, if not more, pushed by mining, energy and construction, "Soto said in her Bogota office.

  • BALTIMORE— By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world's two largest economies— and the outcome is far from certain. No one knows if Beijing will yield as pressure builds or instead stiffen its resolve and keep retaliating. No one knows if a politically divided...

  • Sept 17- Brazil's Natura Cosmeticos SA said on Monday it was not in talks with cosmetics maker Avon Products Inc about a possible takeover of the London- based company. The comments came after the Wall Street Journal reported https://www.wsj.com/articles/brazils-natura-recently-approached-avon-about-a-tak e o v e r- 1 5 3 7 2 1 7 9 5 7? Avon Chief Executive...

  • Caught in a vise, the silver-haired Australian wrote to the Russian Consulate in London. "I, Julian Assange, hereby grant full authority to my friend, Israel Shamir, to both drop off and collect my passport, in order to get a visa," said the letter, which was obtained exclusively by The Associated Press. The Nov. 30, 2010 missive is part of a much larger trove of WikiLeaks...

  • ALCANTARA SPACE CENTER, Brazil, Sept 14- Brazil is ready to launch small commercial rockets from its space base near the equator as soon as it agrees to safeguard U.S. technology that is dominant in the industry, the Brazilian Air Force officer managing the space program said on Friday. Major Luiz Fernando Aguiar said Brazil wants to get a piece of the $300 billion-...

  • MAR DEL PLATA, Sept 14- Trade and investment ministers from G20 countries meeting in Argentina said there was an "urgent need" to improve the World Trade Organization, a joint statement issued from the summit said on Friday. "Obviously the new tariff measures are not positive," Argentina's Production and Labor Minister, Dante Sica, said in a news conference at the end...

  • LIMA, Sept 14- Brazilian mining company Nexa Resources plans to invest some $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday. About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc, Porta said in an interview.

  • CARACAS, Sept 14- Some Venezuelans on Friday began to receive their first salary payment since the government introduced a 60- fold minimum wage increase, though companies warned it was unaffordable and would add to the devastation of business in the country. Around a dozen firms and business associations Reuters spoke to in different parts of Venezuela said...

  • PANAMA CITY, Sept 14- Fewer ships from China and the United States could use the Panama Canal if trade tensions escalate between the two economic giants, but the dip could be offset by grain exports from north Brazil, the head of the organization that operates the waterway said. "Most cargoes passing through the Panama Canal come from or go to the United States and...

  • BUENOS AIRES, Sept 14- A $3 billion payment that the IMF had been expected to disburse to Argentina this month under its standby financing deal has been postponed while the government re-negotiates the terms of the agreement, an Economy Ministry source said on Friday. President Mauricio Macri signed a $50 billion standby finance deal with the IMF in June, but...

  • BEIJING/ CARACAS, Sept 14- Venezuela gave China another stake in the OPEC member's oil industry and signed several other deals in the energy sector, but Beijing made no mention of new funds for Caracas during President Nicolas Maduro's visit to his government's key financier on Friday. The statement also said China and Venezuela had signed a "memorandum for...

  • BEIJING/ CARACAS, Sept 14- Venezuela gave China another stake in the OPEC nation's oil industry and signed several other deals in the energy sector, but Beijing made no mention of new funds for Caracas during President Nicolas Maduro's visit to his key financier on Friday. The statement also said China and Venezuela had signed a "memorandum for cooperation in...

  • *Maduro in China from Thursday until Sunday. *Venezuela economy in state of hyperinflationary collapse. CARACAS/ BEIJING, Sept 14- Venezuelan President Nicolas Maduro is traveling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.

  • BUENOS AIRES, Sept 13- Argentina's peso currency fell 3.51 percent to close at a new record low of 39.9 per U.S. dollar on Thursday, as market confidence ebbs away in Latin America's no.3 economy despite President Mauricio Macri's efforts to reassure investors. Education Minister Alejandro Finocchiaro told reporters on Thursday that despite the financial...

  • The inflation rate published by the official statistics agency Thursday follows a sharp devaluation of Argentina's currency. That led Argentina's government to seek a $50 billion loan from the International Monetary Fund aimed at strengthening the economy. To obtain some early funds, President Mauricio Macri has promised to bring Argentina's primary...

  • MADRID— A judge in Andorra has charged 28 people, including former officials in Venezuela, with money laundering offenses over a kickbacks-for-contracts scheme that plundered $2 billion from the Venezuelan state oil company between 2007 and 2012.. Among those accused are nine people from Andorra, five from Spain and 14 Venezuelans, including former deputy...

  • *Maduro in China from Thursday until Saturday. *Venezuela economy in state of hyperinflationary collapse. CARACAS/ BEIJING, Sept 13- Venezuelan President Nicolas Maduro is traveling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.