TLA TIMES | November 28, 2017

A Snapshot of LatinAmerican News



Argentina’s Military spending as pct. of GDP.

Source: data.worldbank.org

Currency | Per US Dollar
Argentine Peso | $17.52

Belizean Dollar | $2.01
Brazilian Real | $3.23
Bolivian Boliviano | $6.97
Costa Rican Colon | $570.45
Chilean Peso | $647.66
Colombian Peso | $3,020.68
Cuban Peso | $26.50
Dominican Peso | $48.54
Guatemalan Quetzal | $7.40
Haitian Gourde | $63.76
Honduran Lempira | $23.58
Mexican Peso | $18.69
Nicaraguan Cordoba | $30.66
Panamanian Balboa | $1.00
Paraguayan Guarani | $5,658.68
Peruvian Sol | $3.23
Uruguayan Peso | $29.19
Venezuelan Bolivar | $9.95

Figures from Nov. 28 Source: www.xe.com


‘The Billfish Capital of the World’
Guatemala claims the title “Billfish Capital of the World.’’ If that’s the case, the port city of Izpata on the Pacific Coast is the downtown of the capital. The waters are home to plentiful sailfish and marlins. All billfish are catch and release. This area was little known to sports fisherman until the 1990s.  It took a while for Izpata to catch up to the tourist demand. But today, there are charter boats galore, many with English-speaking captains. A number of lodges are located right by the docks. Details 

Bank of Nova Scotia bids to buy majority interest in Chilean bank.

The Canadian Broadcasting Company reports that the Bank of Nova Scotia made a $2.9 billion offer for BBVA Chile. If the deal goes through, the Canadian firm would control the third-largest bank in Chile that is not owned by the government. The Said family owns about a third of BBVA Chile and has the right to veto the deal. Details


Hard-candy company seeks partner for access to markets abroad

Arcor, which sells more hard candy than anyone else in the world, is looking for a foreign partner to help it crack markets outside Latin America, Bloomberg reports. Luis Pagani, the chairman and a majority owner, says no talks have begun and that his company is looking to do a stock swap with another major confectioner. “I know all the owners and they know the importance of Arcor in America. The opportunities will surface,” Pagani tells the news service. Details


What’s in a name? Nothing good if it’s ‘Trump,’ hotel owners decide.

IA 369-room luxury condominium hotel in Panama wants to ditch the Trump name and end the Trump Organization’s management of the property, Brinkwire reports. The hotel once paid as much as $32 million a year to use the name and have Trump’s firm run the hotel. Ithaca Capital Partners, the majority owners, has decided the inn would be better off without the president’s imprimatur. Not surprisingly, the Trump Organization intends to fight the move. Details


Mexico to raise minimum wage by 10 percent this week.

The St. Louis Post-Dispatch reports through its news services that Mexico is planning to raise the minimum wage 10 percent to 88.36 pesos, about $4.71 a day. The move met with harsh criticism from labor leaders, and even the Mexican business chamber. The raise is seen as too little to help Mexican workers and too little to even the playing field with Canada and the United States. "Let me tell you something, this is not a minor adjustment, considering that since this administration began almost five years ago the minimum salary was barely 60 pesos," President Enrique Pena Nieto said.  Details

BlackRock takes over Citigroup’s asset management in Mexico.

Fox Business reports that the hedge fund giant has acquired Citi’s asset management business in Mexico for an undisclosed price. The acquisition adds about $31 billion to BlackRock’s portfolio. BlackRock manages about $6 trillion. BlackRock hopes to use Citigroup’s contacts in Mexico to market its services. Details