Brazil, Russia, India, China and South Africa have all agreed to create a USD100 billion fund as buffer for financial shocks.
South/Central America
KPN announces ongoing talks with America Movil on takeover, outcome unclear
KPN's negotiations with America Movil regarding the EUR7.2 billion or USD9.58 million bid remained to be over.
MMX sells off shares in port to Trafigura and Mubadala
Eike Batista's MMX sold off its debt and partial stake to commodities trader Trafigura Beheer BV and sovereign wealth fund Mubadala Development Crop for the Sudeste port.
Ecuador deficit activates plan to tap into USD18 billion oil in Yasuni National Park
Rafael Correa, President of Ecuador, would be relying on USD18 billion worth of oil resources inside the Yasuni National Park to save the country from going bankrupt.
Petronas pulls out of Carabobo Oil Project in Venezuela
The Malaysian state run oil firm informed the Venezuelan government of its withdrawal from the Carabobo-1 oil project.
Latest News
Italian investment company Azimut inked a joint venture partnership for Brazil with Legan Administracao de Recursos.
The Vaca Muerta oil field is set to be offered for bids by the regional authority of Patagonia, Argentina.
According to the Latin American Venture Capital Association, there has been a 100% increase in value and volume for the market for the first half of 2013.
This week, BlackRock Inc. had bought shares in OGX Petroleo & Gas Participacoes after its increased presence in Brazil's benchmark index.
South African Airways and Brazil's TAM Airlines signed a codeshare agreement to increase travelers' access to destinations in both countries.
The latest purchase made by Coca-Cola in Mexico was recently announced after an acquisition spree across three continents was undertaken.
An anonymouse bourse official of the Mexican bourse told Reuters that the bourse canceled Minera Frisco's trades in the last 10 minutes of trading today as the share price spike was caused by a computer glitch.
Arturo Elias, Carlos Slim's chief spokesman said America Movil had no intentions of raising its offered bid for the remaining stake of KPN.
State-owned Mubadala Development Co and Amsterdam-based Trafigura Beheer submitted joint bids for Eike Batista's MMX Mineracao & Metalicos.
