201801.18
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TLA TIMES | January 18, 2018

A Snapshot of LatinAmerican News


 

SNAPSHOT

Mexico’s military spending as pct. of GDP.


Source: data.worldbank.org


EXCHANGE RATE
 
Currency | Per US Dollar


Figures from Jan. 18 Source: www.xe.com


FUN IN THE SUN

Unspoiled reef a sanctuary for sea life.
  
The Blue Bahia Resort on Roatan Island in Honduras offers a quiet getaway for ecotourists with a taste of home — in the form of Memphis-style barbecue. The resort is located near The Roatan Institute for Marine Sciences. Roatan Island is a short distance away from Cayos Cochinos, a group of small islands that have no roads, a couple villages, and a handful of private homes. The islands are surrounded by a reef managed and protected by The Honduras Coral Reef Fund. Details
THE REGION

Peugeot chief plants interest in an alliance in Latin America.

Reuters reports that CEO Carlos Tavares says he is open to some sort of alliance in Latin America. Tavares was at a news conference in Detroit, speaking in reference to a statement by Ford saying it plans to restructure its Latin American business, where Ford has been losing money.  Tavares said there have been no discussions with Ford so far, and he would not say if any were planned. Details


ARGENTINA

Argentina finished 2017 with inflation rate near 25 percent. 

Consumer prices rose 3.1 percent in December to push the annual inflation rate to 24.8 percent for the year, Fox Business reports. The government had a target of 15 percent. Now officials are admitting they have a long way to go to fix the problem. They have lowered their targets for 2018, 2019 and 2020. The main culprit was public-utility costs, which rose 40 percent last year.  Other countries in South America are faring better. Brazil expects to finish 2017 with an inflation rate of less than 3 percent. Details


MEXICO

Chrysler will move some truck production back to Michigan.

The Detroit Free Press reports that Fiat Chrysler will move production of Ram Heavy Duty trucks back to Michigan from Mexico, a move that is expected to add about 2,500 jobs when the shift is completed in 2020.  The company says it will pour $1 billion into upgrading its plant in Warren, Michigan. The shift comes after the United States cut its corporate tax rate from 35 percent to 21 percent. The company also announced bonuses for hourly and salaried workers, outside the top executives. Details

Mexico plant isn’t closing-company to build new vehicle.

Mexico News Daily reports the Saltillo plant that is losing the Ram Heavy Duty truck production to a plant in Warren, Michigan, will build another vehicle.  CEO Bruno Cattori said in a radio interview that RAM would build some kind of commercial vehicle there after the plant was retooled. Fiat Chrysler said it does not expect any plant closings or job losses in Mexico.  Chrysler employs about 10,000 workers at five production facilities in Mexico, and in 2017 the company reached new highs for vehicles and engines built there. Details

Low-cost carrier Volaris places order for 80 planes from AirBus.

Discount airline Volaris placed a $9.3 billion order with European plane-maker AirBus, News Channel Asia reports. Volaris CEO Enrique Beltranena calls the order for 80 AirBus A320 aircraft "the biggest plane order signed in the history" of Mexico. The first 40 planes are to be delivered by 2021 with the rest coming by 2026.  Founded in 2006, Volaris is Mexico’s second-largest carrier. The airline has routes throughout Mexico and to 78 international destinations. Details