TLA Times | Jun 12, 2019
LATIN AMERICA
Brazil, Argentina presidents say trade deal with EU is near
The Argentinian and Brazilian presidents say a trade deal with the South American trade bloc Mercosur and the EU is happening, macaubusiness.com reports. Mercosur consists of Brazil, Argentina, Uruguay and Paraguay. The group has been in negotiations for a free-trade deal with the EU since 1999. There have been several instances in which officials from the group said a deal was at hand – and one never materialized. But European trade commissioner Cecilia Malmstrom has said a deal is near. If a deal is to be done, it will probably have to done before a new commission takes office. Details
COSTA RICA
Concentrix says it will add 600 jobs in Costa Rica
Concentrix, a business services company, says it will add 600 positions to the 4,000 it already has in the country, The Costa Rica Star reports. Concentrix has more than 200,000 employees and offices in 275 countries. The company came to Costa Rica in 2005 and has five facilities. Details
VENEZUELA
Deutsche Bank takes 20 ton of gold after government defaults on loan
Deutsche Bank, the German-based financial giant, took 20 tons of gold after the Venezuelan government defaulted on a $750-million loan, RT.com reports. The government in Caracas put up the gold as collateral in 2016. The loan was to be repaid by 2021, but the government was already behind on payments. This is the latest default by the Venezuelan government. Details
MEXICO
BMW official opens its $1-billion assembly plant in San Luis Potosi
The German-based car company held an opening ceremony for its $1-billion plant in San Luis Potosi, Business Standard reports. “Plant San Luis Potosi will significantly boost our regional production flexibility in the Americas,” production honcho Oliver Zipse says. “From here, we are delivering our locally produced BMW 3 Series Sedan to customers worldwide.” The plant is BMW’s first in the country, although BMW already relies on Mexican suppliers for parts. BMW sales in Mexico are about $2.5 billion a year. Details
