TLA Times | November 05, 2019


Uber buys company that delivers groceries in Latin America

CNBC reports that Uber is buying a majority stake in Cornershop, a grocery-delivery service with strong operations in Latin America. The purchase gives the ride-sharing company a more diverse business portfolio in Latin America. Uber’s revenue in Latin America had declined by 24% in the second quarter. Cornershop delivers in Chile, Mexico, Peru and Toronto. Details


Panama delegation visits India to meet with investors

A delegation from Panama met with businessmen in India from several sectors – including pharmaceuticals, logistics and financial services – to increase economic ties and cooperation, United News of India reports. The visitors from Panama met with 90 to 95 Indian investors and CEOs. Details


Brazil trying to lure airlines to provide domestic service

Brazil is meeting with three airlines, trying to persuade them to provide domestic service for the country, Reuters reports via Business Times. The country will talk to Jet Blue, Mexico’s Volaris and Chile’s Sky Airline.  "These are conversations to introduce Brazil to them, they do not mean that the airlines are saying that they will come here," Brazil's civil aviation secretary, Ronei Glanzmann, says. Brazil has opened up its domestic air market, the largest in Latin America, to foreign companies. Details


Walmex profits rise 6.5 % in second-quarter earnings

The Arkansas Democrat reports that Walmart’s Mexico and Central America division saw its profits increase by 6.5% in the quarter that ended Sept. 30. Walmex posted net income of $484 million, or 2.8 cents per share, up from $454.5 million, or 2.6 cents per share the year before. Revenue increased 4.9% from the third quarter in 2018 to $8.12 billion.  Walmex is one of the retail’s giant’s strongest international operations. Walmex’s same-store sales increased 3.8 percent over the third quarter in 2018. Details

President plans infrastructure projects to boost the economy

President Andres Manuel Lopez Obrador says the government will announce major infrastructure projects to give the economy a shot in the arm, Reuters reports. About 1,600 projects are under consideration. The projects are being drawn up by the private sector. The government has set aside $400 billion over the next several years. “This is really important, because it would help us to spur economic growth,” Lopez Obrador says. Details



Iguazu Falls one of nature’s great wonders

More than one million visitors come each year to see Iguazu Falls on the border of Argentina, Brazil and Paraguay. There are actually 275 falls, the tallest of which is the Devil’s Throat, which is more than 250 feet tall. That is about twice as tall last Niagara Falls. Three towns have access to the falls, Foz do Iguaçu in Brazil, Puerto Iguazú in Argentina and Ciudad del Este, Paraguay. Details
Life expectancy (in years) in Uruguay

Source: data.worldbank.org

Currency | Per US Dollar







Figures from Nov. 05 Source: www.xe.com

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