Latin Financial News

Bank of Nova Scotia plans to go after a larger share of customers’ wallets as it refocuses its business on North America, shifting capital away from operations in Latin America that have delivered poor returns.

From Washington to Frankfurt to London and beyond, central bankers are approaching their final decisions of the year against a backdrop of unease at how the global inflation cycle is turning.

British payments startup SumUp, known for its small card readers, on Monday announced it has raised 285 million euros ($306.6 million) in a bumper round of funding that values the company north of $8.6 billion.

The domestic travel and tourism industry is now urging the Prime Minister's Office to prioritise initiatives that attract foreign tourists and boost overseas marketing and promotional campaigns. The Indian Association of Tour Operators (IATO) said on Friday it has written to Prime Minister Narendra Modi seeking his intervention for the revival of the inbound tourism industry. «The letter has drawn the attention of the prime minister to the recently made statement in Parliament by Union tourism minister G Kishan Reddy that only 85.9 lakh foreign tourist visitors visited the country in 2022 as compared to 3.14 crore in 2019,» said IATO president Rajiv Mehra. «It mentions multiple reasons for the decline in numbers such as withdrawal of incentives to the inbound tour operators on their foreign exchange earnings which were being used for overseas marketing and promotions; lack of trained tourism manpower in Indian embassies who are not able to do regular follow-ups with the foreign tour operators,» said Mehra. «Advance planning of at least one year is required and dedicated budgetary funds should be provided to the ministry of tourism for aggressive overseas promotions.

When you fire somebody, you save the cost of paying them, but you now have the problem of who is going to pick up the work they used to do.  It sounds pretty obvious, but in fact a lot of banks have come to grief over the years by forgetting that the equation has two sides, and that you need to have an answer to the question (even one as simple as “nobody, we’re closing that business line down”) before you make the redundancy announcement.  In the case of Citi’s current reorganisation, CFO Mark Mason has put some thought in, and he spelled it out quite clearly at the Goldman Sachs conference yesterday.

Four investment banks have announced during a meeting of leaders of trade bloc Mercosur they will put $10 billion for infrastructure works aiming to better connect South America

The CVM, Brazil’s markets regulator, has co-launched a glossary of crypto-related terms in a bid to “standardize” terminology in the Latin American nation.

By Aziz El Yaakoubi and Vladimir Soldatkin

UBS has added four advisors to its U.S. head count, including a former senior banker at J.P. Morgan Private Bank.

Venezuelan President Nicolás Maduro is asking the country’s state-owned companies to “immediately” begin to explore and exploit the oil, gas and mines in Guyana’s Essequibo region, a territory larger than Greece and rich in oil and minerals that Venezu...

By Gilles Guillaume

Argentina’s outgoing government says it will not support the signing of a long-delayed trade deal between the European Union and the South American bloc Mercosur during a summit this week in Brazil even though the incoming Argentine government has expr...

Snowden Lane Partners has recruited a former Citigroup veteran as a partner and managing director in its office in Coral Gables, Florida.

Mexico's president says its minimum wage will rise by 20% in 2024, to the equivalent of about $14.25 per day

Kalpataru Projects International Limited (KPIL) on Monday announced bagging new orders worth Rs 2,263 crore in the domestic and overseas markets. The company's transmission and distribution (T&D) business has secured orders totalling Rs 1,564 crore in India and overseas markets, KPIL said in an exchange filing.

carbon markets (VCMs) in a sector of growing importance to efforts to combat climate change. IOSCO, which groups market watchdogs from Asia, Europe, Latin America and the United States, launched a 90-day public consultation on a set of good practices for national regulators to apply. «VCMs have gained significant importance in recent years. But for these markets to succeed, they need integrity — both environmental and financial,» Rodrigo Buenaventura, chair of IOSCO's sustainable finance taskforce, told an event at the COP28 climate summit in Dubai on Sunday. The two weeks of UN talks, which began on Nov.

F word that is Not 'Four' (FFNF) in print. The standard practice has been to 'hide' FFNF by putting a pair of asterisks between its legs of the first and last letter of the word.

Private refiner Reliance Industries Ltd has booked two supertankers, C. Earnest and C. Genuine, which are scheduled to load crude cargoes from Venezuela between December to early January.

A new study says that about half of Nicaragua's population of 6.2 million want to leave their homeland because of a mix of economic decline and repression from President Daniel Ortega's government

Henry Kissinger, a controversial Nobel Peace Prize winner and diplomatic powerhouse whose service under two presidents left an indelible mark on U.S. foreign policy, died on Wednesday at age 100, according to his geopolitical consulting firm Kissinger Associates Inc.Kissinger died at his home in Connecticut, Kissinger Associates said.Kissinger had been active past his centenary, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea.

Henry Kissinger, a controversial Nobel Peace Prize winner and diplomatic powerhouse whose service under two presidents left an indelible mark on U.S. foreign policy, died on Wednesday, according to Kissinger Associates Inc. Kissinger died at his home in Connecticut, Kissinger Associates said. Kissinger had been active past his centenary, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea.