Venezuela Bank Expands in Latin America
Venezuelas state development bank plans to open branches in Bolivia, Honduras, Guatemala and Haiti, the bank president said Wednesday.
We foresee opening offices in Haiti, Guatemala and Honduras, said Edgard Hernandez Behrens who heads the Bank of Economic and Social Development, or Bandes, which is 75 percent owned by the Venezuelan government.
Bandes also plans to provide US$15 million (euro12 million) in December to its Uruguayan branch, known as Cofac, and is further considering providing funds for its Union branch in Bolivia, Hernandez Behrens said.
More : chron.com
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Brazil, Mexico and Venezuela: Latin America Local Bond Preview
Dec. 9 (Bloomberg) -- The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Brazil {BLTN }: The government will report today that inflation, as measured by the IPCA index, slowed to 0.55 percent in November from 0.75 percent the previous month, according to the median forecast of 25 economists surveyed by Bloomberg. That would reduce the annual inflation rate to 6.2 percent from 6.4 percent. The report is due at 6:30 a.m. New York time.
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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
USHIO AMERICA Expands Its Series of Ultraline(TM) 10,000-Hour Light Bulbs to Include 20W Versions
USHIO AMERICA INC. recently announced the addition of new 20W versions to its popular 10,000-hour Ultraline(TM) series of long-life, low-voltage MR-16 light bulbs that are designed to last more than twice as long as standard bulbs on the market.
These new 20W, 12-volt, Ultraline(TM) MR-16 reflector light bulbs were designed to reduce bulb replacements, especially in difficult-to-change areas by lasting twice as long as standard MR-16 bulbs which normally last only 4,000-5,000 hours. Their low wattage and long life make them ideal for landscape, waterscape, and pool/spa applications.
Scotiabank Third-Quarter Profit Rises on Latin America Unit
Bank of Nova Scotia, Canadas third- largest bank by assets, said profit climbed for the 13th straight quarter on higher earnings from its international unit.
Net income for the third-quarter ended July 31 rose 19 percent to C$936 million ($842 million), or 93 cents a share, from C$784 million, or 77 cents, a year earlier, the Toronto- based bank said today in a statement sent by PR Newswire.
(Bank of Nova Scotia will hold a conference call at 2:30 p.m. Toronto time. To listen, dial (1) (800) 796-7558 at least five minutes
Latin America's oil rebels rebuff EU
The presidents of Venezuela and Bolivia, Latin Americas most outspoken leaders, yesterday rebuffed demands by the European Union and other leaders at a summit in Vienna to temper their policies on foreign investment and energy, declaring that a new political era had arrived.
Tony Blair, who attended the summit of European Union, Latin American and Caribbean countries, called for a responsible approach to the debate.
Neo-liberalism has begun its decline and has come to an end, the Venezuelan president, Hugo Chávez, said at the gathering of nearly 60 heads of state, according to Reuters.
