October 10, 2011 |
Palestinian Authority President Mahmoud Abbas was touring Latin America this week, his second visit to the region in less than a year as part of a worldwide lobbying effort to gain recognition for a Palestinian state. Abbas met officials in the Colombian capital of Bogota on Monday, a day after announcing with President Mauricio Funes of El Salvador plans to establish diplomatic ties there. Until recently, El Salvador was one of Israel's closest allies in Latin America. "We are very interested in developing our relations with all the countries of the American continent," Abbas said in San Salvador, according to a Spanish translation of his remarks.
September 26, 2011 |
The 50-year-old teacher is about to do something she's never done, something remarkable in Colombia: Buy a home. Inez Angel has her eye on a $35,000 split-level condo in the Villa Verde subdivision in the western Colombian city of Pereira. It is priced right, and the 15-year mortgage at a fixed 7% interest rate is affordable. Just as important to her — and her country — is her confidence in Colombia's future stability. Experts say homeownership can help a society lock in a sense of greater security.
August 8, 2011 |
Many major U.S. companies are making big plans to expand overseas even as some of them announce new layoffs at home, and there's a chilling reason why: They're beginning to give up on the American consumer as a source of future growth. For years, U.S. companies went off shore to get cheaper labor and lower manufacturing costs for products to be sold to Americans. Now, as the nation's economy stalls and personal incomes stagnate, they see consumers in Asia and Latin America as offering brighter prospects for future sales and profits.
July 6, 2011 |
Expanding its reach from two countries to the entire Western Hemisphere, Netflix Inc. will launch its successful online film and television subscription service across Latin America in a bid to maintain its sky-high subscriber growth and stock price. The Los Gatos, Calif., company, which boasts more than 23.6 million subscribers and has become the nation's No. 1 movie rental provider, announced Tuesday that this year it will expand into 43 countries in South America, Central America and the Caribbean but not Cuba.
June 30, 2011 |
Casting more uncertainty on the health of President Hugo Chavez, Venezuela's Foreign Ministry announced Wednesday that it has canceled a summit of foreign leaders scheduled for next week that Chavez was to have presided over to mark Venezuela's bicentennial independence celebration. The ministry statement said the Latin America and Caribbean Summit on Development and Integration would not be held because Chavez is in a "process of recuperation and extremely strict medical treatment" in Cuba.
June 28, 2011 |
Lima was always gray. The Peruvian capital, for much of the year, had this overcast dullness; the sun rarely shone, it never rained, it was just damp and gray. Your hair didn't dry. Your clothes molded, literally, in the closet. When I returned to Peru this month for the first time in 26 years, Lima was still damp and gray. That had not changed. But many other things had. Peru has the fastest-growing economy in Latin America, having registered substantial growth nearly every year for a decade.
June 9, 2011 |
As drug cartels wreak murderous havoc from Mexico to Panama, the Obama administration is unable to show that the billions of dollars spent in the war on drugs have significantly stemmed the flow of illegal narcotics into the United States, according to two government reports and outside experts. The reports specifically criticize the government's growing use of U.S. contractors, which were paid more than $3 billion to train local prosecutors and police, help eradicate fields of coca, operate surveillance equipment and otherwise battle the widening drug trade in Latin America over the last five years.
June 6, 2011 |
Homer Simpson would feel at home in Latin America. His favorite beer, Duff, is available in Mexico, Argentina, Colombia and Chile. The lager has the same logo as the brew that Homer guzzles at Moe's, his local bar in the Fox cartoon series. In South America, the beer's motto is "Yes it does exist!" But nobody seems to be willing to discuss Springfield's finest. The makers of Duff in South America say they aren't allowed to talk to the U.S. media. Duff Mexico — which started the Latin American trend — would not respond to interview requests.
May 28, 2011 |
Although economists see little danger of a recurrence of the hyperinflation that undermined the region in the past, Latin America's rapidly rising prices could undercut its remarkable economic growth and even hurt U.S. hopes for an export-led recovery. At food stalls in Caracas, Venezuela, gas pumps in Santiago, Chile, and newly minted subdivisions in Sao Paulo, Brazil, prices are rising. In one sense, it's a sign of good times. Global demand is strong for the region's oil, coffee, soybeans, copper and other commodities.
April 22, 2011 |
Esperanza Tello couldn't resist. When a salesman at the International Chevrolet dealership here took $500 off the sticker price, then threw in easy credit, free insurance and the title fee, she took the plunge. Tello recently became the proud owner of a new Chevy Spark GT. It's the first new car that the 41-year-old elementary school teacher has owned. "I've wanted one for a long time, but the down payment was always too high. Here I found the terms were just what I needed," said Tello, as she drove her sporty red $14,000 compact off the lot. "This will help me with my second job, going around to little towns selling perfumes and cosmetics.