Business News Americas - Top Stories

Petrochemicals - Peru - MEM names Paracas as location for installation of petrochemicals pole

Linus Hoggett — Tue, 14 Jul 2009 14:13:54 (GMT -0400)

Peru's mines and energy ministry (MEM) declared Tuesday an industrial zone of Paracas in the Pisco province of Ica region as a location for the installation of a petrochemicals complex under the law t...

Privatization - Bahamas - Government moves on BTC privatization, registry deadline July 28

Christian Molinari — Wed, 15 Jul 2009 10:11:44 (GMT -0400)

The Bahamas' government has issued a notice of privatization for the Bahamas Telecommunications Company (BTC), in which it plans to sell a 51% stake in the state-owned incumbent. Companies interest...

Telecommunications - Brazil - Claro smartphone sales up 100% in H1

Phil Anderson — Wed, 15 Jul 2009 11:31:0 (GMT -0400)

Brazilian mobile operator Claro saw smartphone sales during the first half of the year grow 100% compared to 1H08, Claro Brasil value added services (VAS) manager D�cio Farias told BNamericas. Cons...

Infrastructure - Chile - EPSA to launch US$30mn bulk terminal concession tender in Nov

Eva Medalla — Wed, 15 Jul 2009 12:13:43 (GMT -0400)

Chile's state-owned San Antonio port administrator Empresa Portuaria San Antonio (EPSA) will launch a tender in November to concession a US$30mn bulk handling terminal, chairman Patricio Arrau told BN...

Oil & Gas - Colombia - EPM plans international bond issue

Nathan Crooks — Wed, 15 Jul 2009 15:29:13 (GMT -0400)

Medellin-based multi-utility EPM plans to issue US dollar-denominated bonds with a 10-year term, the company said in a letter to Colombian securities regulator Superfinanciera. The company will hol...

Banking - Brazil - Govt should focus on reducing reserve requirements, says OECD survey

James Newman — Wed, 15 Jul 2009 15:46:39 (GMT -0400)

While praising nearly every step taken by the Brazilian government in facing the economic crisis to date, the 2009 OECD economic survey on the country released this week says that reducing reserve req...

Electric Power - Ecuador - Termoesmeraldas launches bidding for 140MW project

David Casallas — Wed, 15 Jul 2009 16:00:3 (GMT -0400)

Ecuadorian state generator Termoesmeraldas has issued a call for bids to build and put into operation the 140MW Esmeraldas II thermo plant. The project's budget is US$178mn and work is due to take ...

Mining - Regional - Hochschild increases output 19% in Q2, eyes 5% cost reduction for 2009

Laura Superneau — Wed, 15 Jul 2009 16:22:57 (GMT -0400)

Peruvian precious metals miner Hochschild (LSE: HOC) saw attributable production rise 19% year-on-year to 7.2Moz silver equivalent in the second quarter of this year and is on track to lift total 2009...

Water & Waste - Mexico - TyreSys promotes tire recycling in Nuevo Le�n, eyeing US market

Renzo Dasso — Wed, 15 Jul 2009 16:44:13 (GMT -0400)

Mexican recycling firm TyreSys is showcasing a locally developed tire grinder to Nuevo Le�n state's environmental and natural resources protection agency, company president Gerardo Pagaza told BNameri...

Metals - Peru - Ministry awaits "serious proposal" from Doe Run

Laura Superneau — Wed, 15 Jul 2009 16:51:48 (GMT -0400)

Peru's energy and mines ministry (MEM) is waiting for a "serious proposal" from Doe Run Per� to consider extending the company's deadline for meeting environmental improvement requirements, known as P...

Info. Technology - Regional - Microsoft to build data center in Brazil

Patrick Nixon — Wed, 15 Jul 2009 16:57:7 (GMT -0400)

Microsoft (Nasdaq: MSFT) has decided to build a data center in Brazil that would be used to develop the company's strategy with software plus services, Hern�n Rinc�n, Microsoft's Latin America preside...

Insurance - Regional - Latin American life premiums expected to stagnate this year, says Swiss Re

Jorge Porter — Wed, 15 Jul 2009 17:15:25 (GMT -0400)

The life insurance industry in Latin America and the Caribbean is expected to stagnate this year as new business will suffer from a slowdown in sales of investment-linked and credit-related products, ...