South America: Canada’s forgotten continent
For years, merchants in Nova Scotia traded salt fish, lumber and potatoes for Jamaican rum and molasses. But they needed a place to barter their goods, so in 1889, the Bank of Nova Scotia opened an agency in Kingston. It was the first foray for a Canadian bank beyond Canada, the U.S., and the U.K. Next, a branch in Cuba in 1906, Puerto Rico in 1910, the Dominican Republic in 1920 and, to serve the livestock and agricultural industries, a presence in Chihuahua, Mexico, in 1934. More recently, Canada’s third-largest…
Paraguay’s soy boom: a blessing or a curse?
Paraguay’s is not often highlighted for its economic achievements. Yet after 20 years of stagnation at the end of the 20th century, the landlocked country has enjoyed almost a decade of economic growth, still one of the fastest in Latin America. Driving this impressive expansion is a thriving agricultural sector, and its principal product: soybean. Taking advantage of recent rises international prices, spurred by demand from China and the purchase from EU countries to produce biodiesel, Paraguay is now…
Doing Business in Latin America: Common Cultural Stumbling Blocks
Latin America expert Marcelo Baudino outlines the four most common cultural stumbling blocks doing business in LatAm. TCO International Director David Trickey sat down with Latin America expert Marcelo Baudino (Director of Iceberg Cultural Intelligence) to talk about Latin America: it’s scope, it’s surprising diversity, and what it takes to be successful working in the region. Iceberg is the leading Latin American consulting firm in the development of cross-cultural competencies and in the strategic…
Latin America Real Estate Searches Gone Viral
Real Estate searches via Internet is the new norm with 76% of those who bought properties in Latin America real estate last year first investigated via the web according to a report by Google. This is not surprising given the fact that Latin America has a higher penetration of Internet users than Europe and the United States. Argentina has the highest with 67%, Chile 58% and Uruguay with 56%. However, Uruguay can boast the fastest and cheapest Internet service in the region with the recent installation of fiber…
URUGUAY and CHILE least corrupt countries in Latam region
Uruguay retains the lowest level of public sector corruption in Latin America, shortly followed by Chile. The Transparency International (TI) published a report last week. In its annual Corruption Perception Index (CPI) which is based on expert evaluation of public section corruption, the NGO ranked Uruguay 19th out of the 177 countries assessed, whilst Chile followed closely at 22nd. “ URUGUAY and CHILE score higher than other countries in the region. In general what we see is that countries that score…
Brazil on the right track
Brazil on the right track With all the investment going on for the upcoming World Cup and Olympics, coupled with the investment being made in infrastructure pertaining to airports and roads, Brazil is a sure bet for the future. According to the Economist, Singapore’s Changi Airport Group and Odebrecht, a Brazilian construction firm, landed the job to upgrade and run Galeão airport in Rio de Janeiro. Perfect timing for the upcoming games. The hub airport at Belo Horizonte, Brazil’s third largest city,…
Buenos Aires ranks best Latin American city for students
Buenos Aires ranks best Latin American city for students Buenos Aires has come out on top for the best South American city to study in. For those who are students, it is now the most recommended city, for the second year running. Paris comes out in top being the best place and next in London in front of Singapore, Sydney, Melbourne and Zurich according to the annual ranking set out by QS (Quacquarelli Symonds Ltd). In the top ten include Hong Kong, Boston, Montreal and Munich. Buenos Aires comes 33rd in all.…
Paraguay will lead the way with 10% growth this year in Latin America
Latin America Economy to Grow 3.5% This Year, the UN Panel Says The forecasts are based on better economic performance by Brazil and Argentina, countries that in 2012 grew 0.9 per cent and 1.9 per cent, respectively Latin America and the Caribbean will grow at a rate of 3.5 per cent in 2013, the UN Economic Commission for Latin America said on Tuesday, revising downward its earlier forecast of 3.8 per cent growth this year. In an updated economic assessment, ECLAC predicted that the economies of the region…
Proposed Latin America’s billionaires income transparency
An article written by economist Nora Lustig, wonders how can we judge the impact of any proposed tax reform without information on the income share of Latin America’s super-rich. The article, included in the latest issue of “Americas Quarterly”, published by the American Council of the Americas holds the previously exposed. What is the income share of the region’s super-rich? It may be hard to believe, but this question can be answered only for Canada and the United States. Thanks to the…
Asian investment boom seen in Latin America
Selling soybeans, iron and copper ore and other commodities to Asian countries has transformed Latin America over the past decade, stabilizing economies despite worldwide crises and lifting tens of millions of people into the middle class. Now, say officials from both Asia and Latin America, a second gold rush is under way. by The Associated Press Asian investors flush with hundreds of billions of dollars in cash now see Latin America as a top business opportunity, and they’re flooding into manufacturing,…
Brazil to lead world in biotech crops
Brazil is on course to dislodge the United States as the world’s top producer of biotech crops in the coming years, a leading promoter of farm biotechnology said Tuesday. The US currently holds the lead with 69 million hectares (170 million acres) under biocrop cultivation in 2011, ahead of Brazil with 30.3 million, Argentina with 23.7 million and India with 10.6 million, the International Service for the Acquisition of Agri-biotech Applications (ISAAA) said. But USAAA, a government-funded international body…
China and the Inter-American Development Bank launch $1 billion Latam investment fund
China and the Inter-American Development Bank said on Monday they are starting a $1 billion fund to invest in Latin America, though the Asian giant’s latest push to expand its influence in the region prompted words of caution from Brazil. To feed its fast-growing economy’s voracious appetite for raw materials, China has invested tens of billions of dollars in the region, from Mexico to Argentina, over the last decade to acquire strategic assets or companies in sectors such as oil, minerals and food…
Mubadala Development to invest $2billion in Brazilian group
Abu Dhabi-based Mubadala Development will invest $2 billion in the Brazilian business group EBX founded by Eike Batista as part of a strategic partnership. Under the terms of the agreement Mubadala will make the investment in exchange for a 5.63 per cent preferred equity interest in Centennial Asset Brazilian Equity Fund and other offshore holding companies of Batista. The proceeds of Mubadala’s investment will be used to reinforce the group’s already strong capital structure so as to help fund new enterprises…
Argentina, Chile and Uruguay with highest human development index in Latam
Argentina, Chile and Uruguay have the highest standards of living in Latin America according the latest report from the United Nations Human Development Index (HDI). Worldwide out of 187 countries Chile ranks 44, Argentina, 45 and Uruguay 48. The HDI is calculated from a set of indicators including literacy rates, years of schooling, life expectancy and per capita income. On a scale from zero to one Uruguay’s HDI was 0.783 this year which means it has sustainedly advanced in the last few decades improving…
