Latin America
Emerging Market Currencies, Stocks Slump as Dubai Dulls Allure of Yields Developing-nations’ stocks dropped
and currencies weakened as Dubai’s attempt to reschedule its
debt drove investors away from higher-yielding assets and
commodities retreated.
Brazil's Soybean Harvest May Be Hurt by Asian Crop Disease, Agency Says Brazil’s soybean output may be hurt
next year after a fungal disease known as Asian Rust infected
plants at an earlier stage than usual in the season, a
government researcher said.
Mexico Bank Keeps Lending Rate at 4.5% as Inflation Slows, Growth Picks Up Mexico’s central bank kept its
benchmark interest rate unchanged today for a fourth month and
said tax increases approved by lawmakers this month will boost
inflation next year.
Santander, Chile Rise as JPMorgan Says Profit Beating Quarterly Estimates Banco Santander Chile and Banco de
Chile rallied in Santiago trading after JPMorgan Chase & Co.
said the country’s two largest lenders are on course to exceed
quarterly earnings estimates.
Chile Central Bankers Reiterate Plans to Hold Rate for `Prolonged' Period Chile’s central bank policy
committee voted unanimously to keep the benchmark interest rate
unchanged at a record low 0.5 percent at its Nov. 12 meeting and
reiterated plans to hold it there for a “prolonged period.”
Brazil Stocks Advance as Dubai Debt Concerns Ease; Duratex Rises to Record Brazilian stocks rose, rebounding
from the biggest drop in two weeks, on speculation Dubai’s debt
crisis will be limited to the Gulf emirate.
MVS Comunicaciones, Intel, Clearwire to Invest About $700 Million in WiMax MVS Comunicaciones SA said it plans
to invest about $700 million in WiMax technology along with
Clearwire Corp. and Intel Corp. to offer wireless high-speed
Internet service in 23 Mexican cities.
Brazil Real Heads for Third Weekly Loss as Dubai Concerns Spark Selloff Brazil’s real headed for its third
consecutive weekly loss as Dubai’s attempt to reschedule debt
prompted investors to shun higher-yielding, emerging-market
assets.
Venezuela Central Bank Reduces Bank Reserve Requirements to 23% From 25% Venezuela lowered reserve
requirements for banks to increase liquidity in the financial
system and spur economic growth after the country went into a
recession in the third quarter.
Empresas Copec Rises for First Time This Week as Earnings Beat Estimates Empresas Copec SA, the second-
biggest pulp producer in the world, rose for the first time in
five days in Santiago trading after reporting third-quarter
profit that beat analysts’ estimates.
Uruguay May Elect Former Guerrilla Mujica on Vow to Aid Schools, Hospitals Former Uruguayan guerrilla leader
Jose Mujica, seeking to become president of the country that
imprisoned him for more than a decade, leads ex-President Luis
Alberto Lacalle ahead of a Nov. 29 runoff vote.
Obama Backing Honduras Election Crimps Latin America Ties, Isolates U.S. President Barack Obama’s backing of
an election in Honduras widely seen by Latin American allies as
illegitimate leaves the U.S. isolated regionally and has
increased tensions with Brazil.
Colombian Cabinet Ministers Plan to Skip UNASUR Talks on `Lack of Respect' Colombia’s government pulled two
Cabinet members from a delegation attending today’s meeting of
Union of South American Nations ministers, citing an expected
lack of “respect, objectivity and overall balance.”
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