Companhia Vale Do Rio Doce (CVRD).(BRAZIL)
COMPANHIA VALE DO RIO DOCE (CVRD), a Brazilian metals and mining
company, negotiated a 19% hike in iron ore prices it will sell to
Mittal, a Dutch steel company, for 2006. CVRD also negotiated a . . .
PSEG Global.(BRAZIL)
PSEG GLOBAL, a U.S. energy company, will sell its 32% stake in RGE,
a Brazilian power distributor, to Companhia Paulista de Forca e Luz, a
Brazilian power company. PSEG expects to make US$185 . . .
Nike.(ARGENTINA)
NIKE, a U.S. maker of athletic footwear, said an arbitrator ruled
it must pay US$52.5 million to Alon International, a former licensee for
Nike's Converse brands in Argentina, Brazil, Paraguay and . . .
Royal Bank of Canada Global Private Banking.(CAREERS)
RICHARD P. MARTINEZ has been appointed managing director of private
banking by the Royal Bank of Canada Global Private Banking, at its
Houston office serving Mexicans with ties to Texas. Martinez . . .
Mass destruction.
For decades, Colombians have withstood serious violence. Guerrilla
wars and drugs combine in a kind of toxic stew. It's so much a part
of the culture that even electric guitars are made from old . . .
SAP.(BRAZIL)
SAP, a German information technology company, opened a new service
center in Rio Grande do Sul state in Brazil. The center will service
North and South American clients and will create 80 jobs. . . .
Embraer.(BRAZIL)
EMBRAER, a Brazilian aircraft manufacturer, took its first fleet
order in Europe for 50 Phenom 100 jets from Swiss executive airline
Jetbird. The contract, for 50 jets with a convertible option for . . .
Petrobras.(BRAZIL)
PETROBRAS. Brazil's state-owned oil company, will borrow
US$486 million from the Japan Bank for International Cooperation, a
Japanese financial institution, and another $414 million from a . . .
UPS.(LOGISTICS)
UPS, a U.S. logistics company, will spend US$1 billion expanding
its global air hub in Louisville, Kentucky. The investment will increase
sorting capacity by 60% over the next five . . .
Full speed ahead.(economic growth)(Brief article)
Like for any business, the only thing more complicated than a slow
economic cycle is, perhaps, a very, very fast one. Overwhelmed by demand
for raw materials from a booming Chinese economy, Latin . . .
Harsco.(BRAZIL)
HARSCO, a U.S. steel-mill services company, signed three new
contracts to manage services at production facilities in Brazil, France
and Italy. The Brazilian contract will manage hauling services . . .
Naspers.(BRAZIL)
NASPERS, a South African media company, bought for US$422 million a
30% stake in Abril, Brazil's largest magazine publisher. The
purchase is part of Naspers' plan to expand in Brazil, . . .
Oil and money.(PANORAMA)
Bolivia moved to nationalize its natural gas industry, second only
to Venezuela in reserves. Petrobras, Brazil's state-run oil
company, said it would defend its rights, although Brazilian . . .
Choice Hotels International.(TRAVEL)
CHOICE HOTELS INTERNATIONAL,a U.S. hotel-chain operator, opened
three new hotels in Mexico City and signed an agreement with Mexicana, a
Mexican airline, to merge rewards programs. The deal allows . . .
Extra credit.
Private-sector credit is exploding across Latin America thanks to
key bank and regulatory reforms made in the 1990s. Structural reforms in
the financial system made banks healthier, increasing . . .
Gol Linhas Aereas Inteligentes.(BRAZIL)
GOL LINHAS AEREAS INTELIGENTES, a Brazilian low-cost airline, plans
to raise up to US$100 million in a preferred stock and convertible bond
issue in domestic and U.S. markets. Money raised will buy . . .
Companhia Vale Do Rio Doce.(BRAZIL)
COMPANHIA VALE DO RIO DOCE, a Brazilian metals and mining company,
secured a US$500 million revolving credit line from a string of banks
led by HSBC, a U.K. financial institution, and Citigroup, a . . .
LT events.(INTELLIGENCE)(Brief article)
LT Events
Latin Trade poll of chief financial officers in Miami, May 2006
At what level are finance processes defined in your company?
headquarters 55%
country 27%
regional office . . .
Telemar Participacoes.(COMPANIES)
TELEMAR PARTICIPACOES, a Brazilian telecommunications company,
registered with U.S. stock-market regulators to raise up to US$1.45
billion in stock in both Brazilian and foreign markets. The . . .
Brazil: credit worthy.
Brazil's interest rates have always roared up and down like a
rollercoaster. The good news now is that the country's benchmark
lending rate has been on the descent since September 2005, dipping . . .
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