Latin America News in Brief
The Bush administration is banning U.S. arms sales to Venezuela, Americas fifth-largest source for oil imports, because of what it says is a lack of support by President Hugo Chávezs government for counterterrorism.
The U.S. action signals a further deterioration in relations with Venezuela, though Chávez shrugged it off and said he did not plan retaliation.
State Department spokesman Sean McCormack said Monday that the United States was concerned about Venezuelas close relations with Iran and Cuba, both of which are on the departments list of state sponsors of terror.
More: mercurynews.com
Related Travel Information
EU to Introduce New Tariff For Bananas From Latin America
Brussels – The European Union said it would introduce a tariff of €176 ($206) per ton for bananas imported from Latin America from the start of next year in its latest effort to end a global trade dispute.
The World Trade Organization ruled its last tariff of €187 per ton illegal in October, just two months after it threw out another proposal of €230 per ton, that countries such as Brazil and Colombia claimed would have a devastating effect on their economies.
The European Commission said Latin American banana producers had failed to
ADR Report: Brazilian Rally Lifts Latin America -2-
U.S.-listed shares of overseas companies climbed higher Wednesday after a Brazilian rally helped to buoy the Latin American index.
The Bank of New York index of American depository receipts rose 0.74% to 146.65. The Latin American index climbed 0.67% to 235.09; the European index rose 0.78% to 146.10; and the Asian index rose 0.66% to 142.11.
In Latin America, Brazilian assets reversed fields in early afternoon trading Wednesday, erasing early losses to post gains because of lower U.S. Treasury yields.
Bellwether gainers included the industrial metals company Companhia Vale Do Rio Doce (RIO),
EU to offer 500 mln euros for L.America to ease water crisis
The European Union(EU) has agreed to offer Latin American countries 500 million euros (some 6 million U.S. dollars) in aid to help ease the worsening water crisis, Spanish Environment Minister cristina Narbona said here Wednesday.
According to the agreement signed between the EU and more than 10 Latin American countries on Tuesday, the EU will help Latin American countries improve their exploitation and management of water resources, especially enhancement of efficiency in the use of water resources in agriculture.
In
Nortel Success in Latin America
Martha Bejar is bullish on Latin America. Thanks to strong growth in markets like Brazil, Mexico and the Caribbean, the company division she heads up is experiencing another good year.
During the first half of the year, Nortel Networks posted a 22 percent increase in sales in Latin America. The Canadian telecom equipment provider does not release revenue figures for Latin America, but they accounted for more than six percent of the companys total last year, Bejar says. That translates into more than $570 million of Nortels total 2005 sales of $9.5 billion.
More : latinbusinesschronicle.com
Desperate Housewives TV show to be produced for Latin America
More Desperate Housewives - in Spanish and Portuguese.Hoping to replicate the worldwide success of the Golden Globe-winning ABC drama, Buena Vista International Television Latin America announced Thursday plans to produce four local Latin American editions, each with its own cast and cultural flavour.
Spanish versions of the show will shown in Argentina, Colombia and Ecuador, and a Portuguese version will air in Brazil.
"The script of the series perfectly fit the profile of what the Latin American audience looks for," said Fernando Barbosa, senior vice-president of Buena Vista International Television Latin
