Latin Financial News

The private operator of Puerto Rico’s power grid has confirmed the deferral of $65 million worth of maintenance and improvement projects in the U.S. territory

After completing its acquisition of a 70% stake in Kotak General Insurance last week, Zurich Insurance Group is aiming to become a leading player in the rapidly growing Indian market. The Rs 5,560 crore deal makes it the largest foreign investment in the sector. It’s also the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% from 49% in 2021. Tulsi Naidu, CEO, Asia Pacific, Zurich Insurance Group, spoke to Shilpy Sinha and Arijit Barman about the growth strategy. Edited excerpts: India opened up the insurance sector to foreign firms in 2000 and raised the FDI limit in 2021. Are you late to the market? The biggest thing that has always been important to us as a strategic investor is being a long-term player. If you look at Zurich’s history, we've consistently grown in global markets. We entered Switzerland in 1872, the US in the 1920s during the American century, and now we’re growing in Latin America and Asia. We believe India is an important market, and with the relaxation of FDI rules a few years ago, we started considering how to establish our presence here. For us, owning and operating our own business and contributing to the market is essential. In a significant market like India, we want to be fully present.

London Private Members' Clubs, seem to be moping about the incoming British PM — in opinion polls we still trust — lacking one credential: being a member of a club in the city he lives-works in. Thevoz mentions in an X post: 'As far as I can tell, Keir Starmer will be the first British Prime Minister since 1763 to not be (or have been) a member of one or more London private members' clubs....' Conservative and Labour PMs alike have been, we are told, members of social watering holes like the Athenaeum and Carlton, Churchill apparently finding time and energy to be a member of nine clubs.

Crypto has become an essential daily tool in regions where local currencies are weaker, according to Robin O’Connell, the CEO of Uphold Enterprise.

Copa America 2024 schedule, matches, fixtures, teams details are out. The continental soccer tournament, featuring FIFA World Cup 2022 winners Argentina and Brazil, will be played in the US between June 20 and July 14.

Argentina’s regulators could be set to crack down on third-party Worldcoin (WDC) resellers, as scrutiny of the project continues in the Latin American nation.

China’s exports are still going strong. That has created tension with the West and led to a new wave of tariffs on its eclectic vehicles. But it is also reshaping global trade.

Dollarama Inc. has increased its stake in Latin American retailer Dollarcity to 60.1 per cent with the acquisition of an additional 10 per cent interest.

Narendra Modi's global outreach in his third term is expected to begin with a 24-hour trip to Italy for the G7 summit on June 14 where he is an invitee. In subsequent months, Modi may visit Kazakhstan for the SCO summit (July 3-4), followed by BIMSTEC meet in Thailand (September), BRICS summit in Russia (October), G20 summit in Brazil (November) and a probable trip to New York in September for the UN General Assembly and Summit of Future.

A pair of former Merrill Lynch advisors have made a break for independence by launching their own billion-dollar RIA practice.

As Mexico votes for a new President, it has become clear that the Mexican voters have decided that they want a Scientist, Engineer, and the former mayor of Mexico City who also happens to be Jewish and a woman to become the new President. The combination of such adjectives is seldom seen in politicians especially when they are all being used to describe just one person. Claudia Sheinbaum, a name that gives away her Jewish and European roots, is all set to become the Mexican President as Mexico votes for over 20,000 seats. Claudia much like her opponent, Xochitcl Galvez; a former senator and an entrepreneur both encouraged the voters to exercise their voting rights.

Nayib Bukele, on a trip to Washington, snubbing the self-proclaimed “world's coolest dictator" for fear a photo op would embolden his attempts to expand his power base. A little more than three years later, it's the United States that's courting Bukele. A high-level delegation led by U.S.

Unveiled last year, MasterCard Crypto Credential helps verify interactions among consumers and businesses using blockchain networks. The pilots will see users from a host of countries on the Bit2Me, Lirium and Mercado Bitcoin exchanges send cross-border and domestic transfers across multiple currencies and blockchains. Users will also be able to send and receive crypto using their Mastercard Crypto Credential aliases, instead of the typically long and complex blockchain addresses. For payments, exchanges will first verify a user under the set of Mastercard Crypto Credential standards.

LONDON: Mining group BHP Group on Wednesday walked away from its $49 billion plan to take over rival Anglo American, which rejected a last-ditch request for more time, ending for now its six-week pursuit. BHP's aim was to secure Anglo's prized copper assets in Latin America and increase access to a metal central to the global shift towards clean energy and electric vehicles. But the structure of BHP's deal, which required Anglo to unbundle its South African platinum and iron ore businesses, was a major reason for its collapse.

Europe may have read it in books as the outbreaks are mostly confined to the tropics of the world. This may not be the case anymore, as a report indicates that the region will experience a greater number of cases in the coming years.

Some 2.5 million Mexicans — mostly women — are domestic workers, a profession that has come to encapsulate gender and class divisions long permeating Mexico

Mexico. Women like her play a fundamental role in Mexican society, picking up the burden of domestic labor as a growing number of women professionals enter the workforce. Despite reforms under the current government, many domestic workers continue to face low pay, abuse by employers and long hours.

US State Department issued a travel advisory asking its citizens not to travel to this Latin American country. It has issued a «Level 4: Do Not Travel» travel advisory, its most serious warning. The department has warned Americans not to travel to this oil-rich country due to high levels of crime and civil unrest under the socialist rule of President Nicolas Maduro, reports the 'New York Post'.

JB Pharma forecasts its revenues to grow 12-14% and the earnings before interest, tax, depreciation, and amortisation (Ebitda) margins by 27-28% in FY25, the company's top executive said.

Commuters in Buenos Aires are being hit by an abrupt 360% increase in subway fares

Chinese automaker BYD has launched its first pickup truck, debuting a luxury plug-in hybrid in Mexico to compete with global rivals in China’s second-largest market for auto exports. Warren Buffett-backed BYD, the world’s biggest maker of electric vehicles, said Tuesday that it would sell the midsize Shark at prices starting at 899,980 Mexico pesos ($53,407) for its GL model and MXN969,800 for its upscale GS version. BYD didn’t specify when deliveries would begin or say whether it had begun taking orders.