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South/Central America

PERU-IMF-WORLD BANK MEETING

Peru's central bank ups reserve ratio for Sol currency

Central Reserve Bank of Peru is increasing local currency bank reserve requirements (reserve ratio) to support its weakening currency Nuevo Sol. The capital reserve ratio will be one percent from March 206 onwards from existing 0.75 percent.

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Petrobras Senior Management Resigns Amid Corruption Scandal

Petrobras Absorbs Shock On Latest Downgrading By Moody’s- Securing $10 Billion Loan From China

China has represented itself as a familiar lender to the Latin American Countries and businesses fighting for debts. In a similar approach, it has extended loan facility to Brazilian indebted oil giant Petrobras for $10 billion securing oil for Chinese companies. The announcement has appeared just after the latest downgrading by Moody’s to junk status following several other credit rating agencies.

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VENEZUELA-ECONOMY-CURRENCY

Venezuela’s ‘Gold Dream’ May Get Fettered Over Conclusion of Other ICSID Proceedings

Venezuela has announced on Wednesday reaching a $5 billion venturing deal with Gold Reserves. The government is expecting to enrich its ever decaying foreign currency reserve with the fund under agreement. But analysts assume, the government may hardly use the fund since Gold Reserves and several other plaintiffs’ proceedings with ICSID are going to be concluded shortly.

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Increase In Housing Starts At End Of Year Signals Housing Market Recovery

Propery Investors To Face Tough Economic Condition in South Africa

Property investors would face tough economic condition in South Africa due to the economic resession the country is facing. Finance Minister Pravin Gordhan is attempting to overcome this by increasing tax, that could slow down property sales in the country.

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Anheuser-Busch InBev NV Chief Executive Officer Carlos Brito Attends Full Year Results News Conference As Mainstream Beer Demand Dries Up

Anheuser-Busch InBev Q4 profit drops by 10% due to sluggish US Market

Anheuser-Busch InBev NV has reported a10 percent drop in profit for fourth quarter of 2015. The brewer is suffering from sluggish market in the US. As a result, revenues for fourth quarter fell to $3.23 billion from $3.33 billion.

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Facebook Debuts As Public Company With Initial Public Offering On NASDAQ Exchange

Fenwick & West Survey Finds Valuations in Silicon Valley Weakening

The latest quarterly survey of Fenwick & West LLP found most Silicon Valley companies that raised venture funding in the fourth quarter of 2015 softened.

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Key Speakers At The World Economic Forum (WEF) 2016

All eyes on Argentina's economy recovery in 2016

Led by new President Mauricio Macri, economy recovery in Argentina is anticipated during 2016. Argentina registered $3 billion trade deficit for 2015. Exports too fell over 50 percent during 2015.

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Unused Oil Rigs Docked In Cromarty Of Firth As Oil Slump Continues

Investment in oil, gas projects shrinking

Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.

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Brazilian Government Plans For Social Program Cuts Amid Recession

Latin America Economic Growth Has Left Some People Behind

Latin America experienced a phenomenal growth in the last decade. However, according to World Bank, the economic growth has not reached some people.Meanwhile the region's economy is slowing down in the last three years.

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President Of Venezuela Nicolas Maduro Meets With United Nations Secretary General Ban Ki Moon

Rosneft to invest $500 million to increase stake in Venezuelan state-owned company

Russia's leading oil producer, Rosneft has proposed investing another $500 million in Venezuela's state-owned Petroleos de Venezuela SA, to increase their stake from the original 16.7%. The proposition has come at a time when the country has declared an economic emergency after oil prices dropped to an alarming $24 a barrel.

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S&P Penalty May Reach $5 Billion From U.S. Lawsuit Over Ratings

S&P downgrades Saudi Arabia to 'A Minus / A-2'

Standard & Poor's (S&P) has cut rating on Kingdom of Saudi Arabia (KSA) as it's suffering from lower oil prices. The long -term foreign and local currency sovereign credit has been lowered to 'A minus/ A-2' from 'A plus / A-1.'

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GM Issues New Recall Of Over 2 Million Vehicles

Additional 200,000 Recalled Vehicles on GM Saab and Saturn Models Over Airbag Issues

General Motors discontinued and then sold its Saab and Saturn brands. Ironically, it made an announcement today that these cars from both brands consist of parts that could explode from the Takata airbag. The said cars’ manufacturing date was way back 2003 and a total of 180,000 vehicles are recalled in the U.S. while 20,000 units are from Canada.

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Company Signs

Starbucks Latest Spicy Brews: Smoked Butterscotch Latte and Teavana Citrus Green Latte

Starbucks have brewed some new additions to its mouth-watering menu. The company introduces the Smoked Butterscotch Latte together with the Teavana Citrus Green Latte, whether hot or cold and other versions of Frappuccino. This latest addition is available in U.S. and Canada only.

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Metallurgy of iron and steel - Alto-forno - blast-furnace

Brazil's Usiminas hires Credit Suisse for unit sale

Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.

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Banco BTG Pactual SA CEO Andres Esteves Spseaks At Foreign Policy Association Dinner

BTG Pactual Cuts Jobs, Bonuses To The Stock Traders And Executives of The Hedge Fund Unit

Groupo BTG Pactual SA has been witnessed to tatter due to decrease in asset value it manages. To maintain the cash flow and remain profitable in the slower economy of Brazil, the Sao Paolo based bank has adopted some cost-cutting measures including job and bonus cuts.

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