Gas Natural Sells Mexican Assets for US$1.2B

Looking for cash after acquiring rival Spanish energy firm Union Fenosa S.A., Spanish energy giant Gas Natural sold majority stakes in some of its Mexico-based electricity plants to Mitsui & Co. and Tokyo Gas, two Japanese firms, for US$1.2 billion.

Venezuela's Chavez Orders Investigation of Toyota, Says Company "Can Leave"

According to local press sources, Venezuela's president, Hugo Chavez, who has become embroiled in disagreements with several major car companies recently, is working to push Toyota Motor Corp (NYSE:TM), the world's largest car company, to do more to encourage technology transfer, saying that the government would expropriate the assets of any company that failed to meet new regulations.

Chile's Centre-right Presidential Candidate, Billionaire Businessman Sebastian Pinera Fights Berlusconi Comparison

Chilean billionaire Sebastian Pinera, owner of Chile's LAN Airlines, a media company, and a sports team, who is currently leading polls in the run-up to Chile's January 17, 2010 presidential election, is working to downplay statements made by rivals that compare him to controversial Italian media magnate Silvio Berlusconi.

US$558M Lawsuit Against Mexico's Cemex Dismissed by U.S. Court

According to local press sources, a lawsuit seeking US$558 million in damages from Cemex S.A.B. de C.V. (NYSE:CX), Mexico's largets cement company, was dismissed by a U.S. judge, giving the company the right to produce and sell cement at its El Paso, Texas location.

Mexican Afore Pension Funds to Invest New Capital in Local Assets Until Q2 2010

According to local news sources, Mexico’s pension funds, the country’s largest institutional investors, which manage assets worth US$87 billion, will be investing all new capital in domestic assets until the second quarter of 2010.

Peru's Economy Could Grow by 5.5% in 2010, Central Bank Says

In a report published on its website, Peru's central bank, el Banco Central de Reserva del Peru, said that as economic activity picks up, the country should report GDP growth of 5.5% in 2010 and 2011.

FDI in Peru Could Grow 50% in 2010, Ministry of Finance Says

According to estimates from Peru's Ministry of Economics and Finance, foreign direct investment in the country could grow by as much as 50% in 2010.

As Mexico's Economy Contracts, Budget Deficit Widens

Mexico, Latin America's second largest economy, a country that is battling its worst depression since the 1930s, is expected to see its budget deficit widen to 5% of GDP, as tax revenues fall and year on year GDP dips by 6.8%.

Chile's Central Bank Keeps Interest Rates at Record Lows

As Chile battles its worst bout of deflation since 1934, the country's Central Bank announced today that it would hold benchmark interest rates at record lows, in order to keep the country's economic recovery on track and help provide a boost to inflationary pressures.

Argentine Corn Yields Expected to Increase in 2010

After several difficult years of dry weather and battles with the country's government over export taxes, farmers in Argentina, the world's second largest exporter of corn, are expecting crop yields in 2010 to reach 14 million metric tonnes, up 6% from 2009 levels.

Brazil Telecom Sector to Offer Strong Opportunities in 2010

Joao Cox, the CEO of Claro, the Brazilian subsidiary of Mexican telcom giant America Movil S.A.B. de C.V. (BMV:AMXA), told reporters that Brazil’s mobile carriers will probably surpass 170 million lines by the end of 2009, equal to almost 90% of the country’s population.

Argentina Authorizes Swap of Defaulted Bonds

According to local press sources, Argentina's President, Cristina Fernandez de Kirchner, authorized the country's Economy Ministry to carry out a swap of $20 billion of defaulted debt, readying the country for its first international bond sale since 2001.

Mexico's Cemex S.A.B. Sells US$1.6B in Bonds

Mexico's Cemex S.A.B. de C.V. (NYSE:CVX), the largest cement company in Latin America, sold US$1.6 billion in bonds, as part of its US$15 billion debt restructuring process.

Citibank Improves Outlook on Mexican Stocks, as U.S. Releases Positive Jobs Data

Citigroup Inc. (NYSE:C) announced that it had raised its outlook on Mexican stocks to "neutral," after the U.S., Mexico's largest export market, announced that job losses in November were the lowest since the outset of the recession, an indication that the U.S. economy may be recovering faster than expected.

Consumer Prices in Chile Fall 2.3% in November

According to data from Chile’s National Statistics Institute, consumer prices in the country fell by 2.3% in November, the worst bout of deflation Chile has experienced since 1934.

Venezuela's Bolivar Falls 9% as Chavez Threatens to Nationalize Banks

Venezuela's Bolivar fell 9% in trading yesterday, as investors scrambled to convert Bolivars for dollars after the country's president, Hugo Chavez, threatened to nationalize the country's banking system, a sector he accused of engaging in speculation rather than working to promote the country's development.

Ecopetrol Lists ADR on Peruvian Exchange

Ecopetrol S.A. (NYSE:EC), Colombia's largest oil company, announced that it has listed its American Depositary Receipt (ADR)on Peru's main stock exchange, the Bolsa de Valores de Lima.