Latin Trade

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Biotech Holdings, a Canadian pharmaceutical company, said it would launch its diabetes drug Sucanon in Mexico.(Mexico)(Brief Art
BIOTECH HOLDINGS, a Canadian pharmaceutical company, said it would launch its diabetes drug Sucanon in Mexico. The company said it plans to visit 1,800 doctors a month and aims to have 45% of the co . . .

Trying harder.(Panorama)(Brief Article)
Telefonica Moviles, the wireless subsidiary of Spanish telecommunications giant Telefonica, will invest US$600 million in Mexico in 2004. Telefonica President Cesar Alierta said Telefonica Moviles w . . .

ALCOA.(Mexico)(Brief Article)
ALCOA, a U.S. aluminum manufacturer, said it would cut 2,350 jobs at subsidiary AFL Automotive electrical distribution factories in Mexico. AFL Automotive said decreased production forced the decisi . . .

Pemex, Mexico's state-owned oil company, has chosen U.S. technology management company Aprisma Management Technology to upgrade
PEMEX, Mexico's state-owned oil company, has chosen U.S. technology management company Aprisma Management Technology to upgrade its local area network at the country's largest oil refinery. Financia . . .

PEMEX.(Mexico)(Brief Article)
PEMEX, Mexico's state-owned oil company, intends to lay off about 3,000 non-unionized workers, according to Mexican Energy Minister Felipe Calderon. The move will allow the company to trim its growi . . .

Daewoo Electronics.(Mexico)(Brief Article)
DAEWOO ELECTRONICS, a South Korean home appliance maker, will invest US$20 million in its central Mexican plant in the state of Queretaro. The company expects to hire 500 new workers and increase ou . . .

Grupo Bimbo.(Mexico)(Brief Article)
GRUPO BIMBO, a Mexican baker, said it won a judicial decision under Mexican income-tax law that could produce a tax benefit of close to US$20.8 million. The decision relates to the calculation of lo . . .

High flyer.(Panorama)(Gol Linhas Aereas)(Brief Article)
The skies above Brazil are apparently getting a little busier. Gol Linhas Aereas, a Brazilian discount airliner, agreed to buy 43 jets from U.S. aerospace company Boeing in a deal worth up to US$2.7 . . .

Grupo Bimbo, a Mexican baker, bought for US$25.2 million candy makers Confiteria Joyco De Mexico, Alimentos Duval and Lolimen.(M
GRUPO BIMBO, a Mexican baker, bought for US$25.2 million candy makers Confiteria Joyco De Mexico, Alimentos Duval and Lolimen. Bimbo said that $2.3 million of the total was used to pay debt. . . .

Whirlpool, a U.S. manufacturer of home appliances, will invest US$80 million in its washing machine factory in Monterrey, Mexico
WHIRLPOOL, a U.S. manufacturer of home appliances, will invest US$80 million in its washing machine factory in Monterrey, Mexico, and in the construction of a new refrigerator factory in Coahuilla, . . .

ICA Fluor, a joint venture of Fluor Corporation, a U.S. engineering company, and Mexican construction company Empresas ICA Socie
ICA FLUOR, a joint venture of Fluor Corporation, a U.S. engineering company, and Mexican construction company Empresas ICA Sociedad Controladora, was awarded an estimated US$570 million power-plant . . .

DESC.(Mexico)(Brief Article)
DESC, a Mexican industrial conglomerate, said it paid US$256 million towards its debt, bringing its total debt burden down to $757 million. The company said a recent capital increase enabled it to s . . .

FEMSA, a Mexican beverage company, said it would buy the 30% it doesn't already own of beer maker FEMSA Cerveza from Belgium bre
FEMSA, a Mexican beverage company, said it would buy the 30% it doesn't already own of beer maker FEMSA Cerveza from Belgium brewer Interbrew for US$1.25 billion in cash. The sale provides FEMSA wit . . .

Petrobras, Brazil's state oil company, said it plans to explore for gas in the Caribbean Sea off the coast of Colombia with oil
PETROBRAS, Brazil's state oil company, said it plans to explore for gas in the Caribbean Sea off the coast of Colombia with oil companies ExxonMobil of the United States and Colombia's state-owned E . . .

Colombia's government said Argentine airline Aerolineas Argentinas has returned to flying to the country after a five-year absen
COLOMBIA'S government said Argentine airline Aerolineas Argentinas has returned to flying to the country after a five-year absence, while Spanish carrier Air Madrid has begun servicing the country f . . .

Colombia.(Panorama)(Brief Article)
COLOMBIA said it would give tax refunds to those using credit or debit cards on a monthly basis, instead of the current quarterly basis. Colombia's tax collection agency said it applies a 16% value- . . .

LAN, a Chilean airliner, said it signed a 10-year training contract with Canadian technology company CAE to train the carrier's
LAN, a Chilean airliner, said it signed a 10-year training contract with Canadian technology company CAE to train the carrier's pilots. The deal gives CAE control of a LAN flight simulator in Chile, . . .

Codelco.(Chile)(theft cases )(Brief Article)
CODELCO, Chile's state-owned copper miner, said thieves had stolen US$40,000 worth of copper from its mines in northern Chile. The company rejected domestic media reports that theft was worth millio . . .

Banco Bilbao Vizcaya Argentaria, a Spanish bank, said it would spend US$70 million to build an information technology center in
BANCO BILBAO VIZCAYA ARGENTARIA, a Spanish bank, said it would spend US$70 million to build an information technology center in Chile that will oversee the bank's pension funds in Latin America. The . . .

Codelco, Chile's state-owned copper miner, said it plans to borrow US$300 million to refinance debt.(Chile)(Brief Article)
CODELCO, Chile's state-owned copper miner, said it plans to borrow US$300 million to refinance debt. Codelco said it chose ABN AMRO, Banco Bilbao Vizcaya Argentaria and Bank of Tokyo Mitsubishi as l . . .

Leonel Fernandez, a lawyer and political author, was elected president of the Dominican Republic.(Caribbean)(Brief Article)
LEONEL FERNANDEZ, a lawyer and political author, was elected president of the Dominican Republic. Fernandez, president from 1996-2000 and candidate of the Dominican Liberation Party, easily trounced . . .

Alcoa, a U.S. aluminum manufacturer, said it might build a US$1 billion aluminum plant with the government of Trinidad and Tobag
ALCOA, a U.S. aluminum manufacturer, said it might build a US$1 billion aluminum plant with the government of Trinidad and Tobago. Alcoa would own 60% of the plant and 60% of the products produced a . . .

Alcoa, a U.S. aluminum company, said it awarded Brazilian power company Eletronorte a contract to supply electricity to its Alum
ALCOA, a U.S. aluminum company, said it awarded Brazilian power company Eletronorte a contract to supply electricity to its Alumar aluminum smelter in northern Brazil thourgh 2024. Alcoa did not dis . . .

Embraer.(Brazil)(Services)(Brief Article)
EMBRAER, a Brazilian aircraft manufacturer, said it delivered the 800th jet belonging to its ERJ 145 product line. The company said it delivered the 50-seat plane to U.S. airline Chautauqua Airlines . . .

Companhia Vale Do Rio Doce (CVRD), a Brazilian iron ore producer, signed a deal to supply 70 million tons of iron ore to Nippon
COMPANHIA VALE DO RIO DOCE (CVRD), a Brazilian iron ore producer, signed a deal to supply 70 million tons of iron ore to Nippon Steel Corporation, a Japanese steel maker, between 2005 and 2014. Curr . . .

Petrobras, Brazil's state-run oil company, said it sold US$15 million in liquefied petroleum gas (LPG) to Japanese oil refinery
PETROBRAS, Brazil's state-run oil company, said it sold US$15 million in liquefied petroleum gas (LPG) to Japanese oil refinery Idemitsu, the first such shipment to Japan. In 2003, Petrobras sold $4 . . .

Rio De Janeiro was eliminated from consideration to host the 2012 Olympics, losing un estimated US$1.5 billion in potential broa
RIO DE JANEIRO was eliminated from consideration to host the 2012 Olympics, losing un estimated US$1.5 billion in potential broadcast rights. Paris, New York, Moscow, London and Madrid remain in the . . .

Argentina created a new state energy company, Energia Argentina, in part to offset what the government calls a failure of privat
ARGENTINA created a new state energy company, Energia Argentina, in part to offset what the government calls a failure of private companies to invest in the sector. Planning Minister Julio De Vido s . . .

The United States said it would become a member of the International Coffee Organization in September to support the world's cof
THE UNITED STATES said it would become a member of the International Coffee Organization in September to support the world's coffee market. The United States had dropped out of the organization in 1 . . .

Colombia, Ecuador, Peru and the United States began free-trade talks in Cartagena, Colombia.(Regional)(Brief Article)
COLOMBIA, Ecuador, Peru and the United States began free-trade talks in Cartagena, Colombia. The three Andean countries' combined trade with the United States totaled US$18.42 billion in 2003. . . .

Bubblin' crude.(Panorama)(Investments)
Whether oil prices remain high or taper off, oil companies are spending on exploration and production. Petrobras, Brazil's state-run oil company, said it would invest US$53.60 billion through 2010. . . .

Sky king.(Letters)(Letter to the Editor)
What a tremendously interesting article ("Southern Skies," June 2004). It's fascinating that Pluna, which is focused on a market as small as Uruguay, has drawn so much attention of competing airline . . .

Boycott the burro.(Letters)(Letter to the Editor)
Jack Epstein, "Silicon Jack," in his attack on Wal-Mart that ends with him suggesting a boycott ("The Bentonville Menace," May 2004), has a lot of serious points to make. But his main argument is th . . .

Red squares.(Letters)(Letter to the Editor)
Comrades: Your May article entitled "The Bentonville Menace" (May 2004) was pathetic. You refer to "screw-the-workers capitalism," "heartless executives," "poverty wages," etc. What socialist tripe. . . .

Built for speed.(Editor's Note)(Dell Computer production facility)
Walking the floor of a Dell Computer production facility in Round Rock, Texas, is a singular experience. It's like someone decided to steal the best ideas of the last century and a half of manufactu . . .

Something stinks.(Point Of View)(Brief Article)
A woman collects dead fish washed up on a beach in a nature reserve near Paracas, Peru. Locals say fishmeal manufacturers polluted the ocean and killed the fish. Environmentalists, on the other hand . . .

Events.(Agenda)(Calendar)
EVENTS EMISSIONS, GREENHOUSE GAS AND RENEWABLE ENERGY MARKETS Trading and Investment Tactics July 12-13 Los Angeles, California Contact: Center for Business Intelligence Tel: [1] (781) 939-2438 . . .

Privatizations.(Illustration)
SECTOR PROJECT DESCRIPTION DEADLINE AVIATION BRAZIL Maringa Airport 35-year operating Pending concession CHILE Region IX airport Conc . . .

Spending spree.(Indicators)(Joydeep Mukherji)(Brief Article)
Brazil's benchmark interest rate has fallen to the mid-teens after peaking at 26.50% in early 2003--and it's expected to stay steady in the near future. Prices and economic growth seem to allow for . . .

Rest of the World.(Indicators)(Illustration)
Rest of the World GDP % change on year ago EIU forecast latest 2003 2004F 2005F Belgium 1.2 Q4 '03 1.1 1.5 19.0 Canada 1.6 Q4 '03 1.7 2.7 . . .

Latin Trade index.(Indicators)(Brief Article)(Illustration)
February '04 % CHANGE FEBRUARY '04/'03 Total trade US$51.2 billion 12.7% Exports US$27.1 billion 12.1% Imports US$24.1 billion 13.3% Monthly combined exports and imports of . . .

Panama: discipline or die trying.(Indicators)(Brief Article)
Despite a high government deficit, in December 2003. U.S. ratings agency Fitch Ratings moved the country's risk from negative to stable. "We did it because we gave them credit for their efforts to c . . .

Latin America and the Caribbean.(Indicators)(Illustration)
Latin America and the Caribbean GDP % change on year ago LT Consensus Forecast * latest 2003 2004F 2005F Argentina 11.3 Q4 '03 8.3 6.8 3.3 Brazil -0.1 Q4 '03 -0.2 3.7 . . .

The Andean Development Corporation.(Colombia)(Brief Article)
THE ANDEAN DEVELOPMENT CORPORATION, a multilateral lending organization for Andean countries, said it would loan US$250 million to Colombia to overhaul its tax collection system. The organization sa . . .

Banco Nacional De Desenvolvimento Economico E Social.(Brazil)(Brief Article)
BANCO NACIONAL DE DESENVOLVIMENTO ECONOMICO E SOCIAL, Brazil's national development bank, approved US$158 million for waterworks projects in Brazil's Federal District as well as in the states of Min . . .

The Inter-American Development Bank.(Brazil)(Brief Article)
THE INTER-AMERICAN DEVELOPMENT BANK said it sold a bond denominated in the Brazilian real, the first of its kind. The zero-coupon bond, worth US$189 million, matures in 2009 and is targeted to overs . . .

The Inter-American Development Bank.(Argentina)(Brief Article)
THE INTER-AMERICAN DEVELOPMENT BANK said it would earmark US$5 billion for Argentina to improve the country's energy sector. A bank spokeswoman said the organization may disperse the loan over a fiv . . .

Natoli Engineering: delivering quality manufacturing solutions.(Focus On)(Advertisement)
For manufacturing companies that require tablet compression equipment, service and quality delivered to the highest standards, Natoli Engineering is the one solution. With clients throughout Latin . . .

The Matrix revolutions.(Brief Case)
(DVD) Neo, Trinity and Morpheus are out to save the last human city. Gone is the mystery and sophistication of the first Matrix installment, but the latest chapter is worth a look, if only for the . . .

La sombra del viento.(Brief Case)
Carlos Ruiz Zafon In this best seller, set in Barcelona in the 1940s, a young man connects mystery, love, adventure and historic events with the world of books. A gripping story that keeps you tur . . .