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TLA TIMES | August 2, 2018

SNAPSHOT

Cellphone suscriptions per 100 people in Colombia.

"Number of Cellphone subscriptions in July 2018"
Source: data.worldbank.org


EXCHANGE RATE
 

"Latinamerican currency per US dollar"

Figures from July 27 Source:www.xe.com


FUN IN THE SUN

You can skate or ski at Cerro Castor.

Cerro Castor, near the southern tip of Argentina, is considered one of the finest ski resorts in South America. But the resort has more than traditional alpine skiing. Cerro Castor has an ice skating rink at its base, and it offers cross-country skiing and two mogul courses. International teams train at Cerro Castor in season. The resort boasts that it has “eight gastronomic points’’ (we think that means places to eat). Details 
 
"ski paradise at Cerro Gordo Argentina"
PERU

Anglo American goesall in on giant copper mining project.

Bloomberg reports that Anglo American has decided to go forward with a $5 billion copper mine, the Quellaveco project, in Peru at a time when its rivals are pulling back and paying larger dividends to shareholders. Anglo American, nearly wiped out in the commodity crisis of 2014-15, is partially shielding itself from risks by bringing in Mitsubishi for a 40 percent stake.  “Not many people have the opportunities we have in the portfolio,” CEO Mark Cutifani tells the news service. “It’s a rare opportunity to develop a copper asset of scale.” Details


BRAZIL

SBM Offshore settles in Brazil corruption case, can start ventures

Dutch engineering firm SBM Offshore reached a settlement in a headline-grabbing corruption probe, Reuters reports via Nasdaq.com.  Authorities accused SBM Offshore of bribing officials in order to get a contract with state oil company Petrobras. SBM Offshore agreed to pay the government $189 million and to put off receiving an agreed upon $180 million bonus until 2030. The settlement allows the engineering firm to begin new projects. Details


ARGENTINA

Argentina making progress in cutting debt, IMF official says.

Reuters reports via the Business Standard that International Monetary Fund Managing Director Christine Lagarde says Argentina is "unequivocally" making headway in cutting its debt. Argentina’s inflation in June was above the target rate, but Lagarde said the country is getting its fiscal situation under control. "We have respect and encouragement for the policies that are being developed by the government of Argentina," she told reporters. Details


MEXICO

San Miguel de Allende top choice in vote of Travel + Leisure readers.

For the second year in a row, Travel + Leisure readers chose San Miguel de Allende as their favorite city in the world. Readers were asked to judge cities they had visited on the basis of value, landmarks, shopping, culture, friendliness and food. San Miguel de Allende received high marks for its architecture, including the iconic Church of the Immaculate Conception, and its 18th century murals.  The city offers a wide variety of cuisine, with over 350 restaurants and markets. Details

 

Business group displeased over delaying oil auctions.

Reuters reports that Gustavo de Hoyos, president of employers’ confederation Coparmex, criticized the decision to delay oil field auctions until the new president takes office in December. The government said it was delaying the auctions, set for September and October, to give bidders more opportunity to study the available blocks. The new president, Andres Manuel Lopez Obrador, is hostile toward privatization of the energy sector. Hoyos isn’t buying the explanation. “We think it’s unfortunate that ... political criteria imply an interruption in the rhythm of decisions in the energy sector,” he tells the news service “Conceptually at least, there’s a clear aversion to this process of liberalization.” Details