Spain was the second largest investor in Latin America in stock during 2019 (150 billion), behind the US (260 billion) and ahead of the Netherlands (143 billion), Luxembourg (106 billion), Canada (73 billion), Chile (62 billion), France (47 billion) and Germany, Korea and Italy (38 billion).
UBS | 2015 was likely to mark the fifth year of EM underperformance. The last time EM underperformed for as extended a spell as this was 1997-2001. And what a time to buy that was! Could 2016 provide a similar inflexion point? We would bet against it.
MADRID | The Corner | 2014 is not being a good year for LatAm. All countries in the region with the exception of Colombia have experienced much softer than anticipated growth. In Brazil, the political noise and uncertainty have impacted on the confidence and private activity in 1H201, with investments and private consumption leading the way down. UBS analysts see now Brazil’s real GDP growth at 0.6% in 2014 and 1.5% in 2015.
BARCELONA | By CaixaBank research team | In order to be effective, pending reforms in Mexico should make public revenue less dependent on oil, such as by eliminating income tax deductions.
MADRID | Spanish technology corporation Indra signed two contracts with Brazil’s Caixa Económica Federal. Indra will provide communication system services for an estimated €37 million during a period of four years. The contracts include specialised technical services for the development and maintenance of information technology programmes related to product portfolio in loans and financing and risk management. Caixa Económica Federal, one of the largest banks in Brazil, is also the largest…
The heaviest economies of the euro zone’s periphery, Italy and Spain, have behaved in a more competitive manner than most sceptics about the laggards of the common currency union would have it. Companies from both Mediterranean countries have increased their presence in markets outside their natural environment, partly forced by a falling domestic demand but due to the strength of production structures and new-found adaptability, too. Here on The Corner,…
Spanish companies aren’t alone in extending their links to the Latin American markets in a bet to withdraw from the volatile European economies. France’s group Accor this week announced its plan to set itself as a sector leader in the area with the acquisition of the South American hotel portfolio of Grupo Posadas. The transaction, which adds to the external growth strategy of the company, includes 2,600 rooms and a secured…
Virgin Mobile Latin America VMLA, a portfolio company of ePlanet Capital, closed April with a round of extra finance of $26.5 million in new equity financing, the company announced in its latest public communication. The funds will go toward developing regional businesses and launch services in Chile. Investors include the Virgin Group and ePlanet Capital, CANEPA, Souter Investments and Hermes Growth Partners, headed by former Telefonica’s CEO Juan Villalonga. VMLA is a telecommunications operator established…
BNP Paribas’ brokerage house Cortal Consors warned about market distrust and the contagion effect over the region after the Argentine government made the announcement this week of the nationalisation of Repsol’s subsidiary YPF. In Friday’s strategy note to investors, Cortal Consors analysts said market participants fear other countries in the Latin-America area could follow the aggressive policies of Argentina’s president Cristina Kirchner, who is since her re-election trying to stop capital outflows…
Spanish T-Solar Group, a major operator in the solar photovoltaic power generation market, has signed three loan agreements for a total of $145mn to finance two photovoltaic power plants with an aggregate capacity of 44 MW in Peru. The two plants will be the first large-scale solar photovoltaic energy projects in Latin America. 113,600 thin-film amorphous hydrogenated-silicon modules produced by T-Solar’s Ourense (Spain) factory will be deployed over 206 hectares…