Argentina’s Despegar Buys Stake in Stays.net; Ecuador’s Exports Imperiled

A roundup of Thursday’s news from across Latin America

Bloomberg Línea
March 10, 2022 | 11:21 PM
Reading time: <1 min.

Bloomberg Línea — Argentine online travel company Despegar has acquired a 51% stake in Stays.net, a vacation rental management company in Brazil. Founded in 2016, Stays.net offers a vacation rental property management system to owners, brokers and managers of temporary accommodation in South America’s largest country.

Ecuadorian shrimp and banana exporters are seeing shipments to Russia halted as a result of Moscow’s invasion of Ukraine. Banana farmers said 765,000 boxes of bananas are at risk of not being exported this week.

On the stock markets, Argentina’s Merval index (Merval) rebounded after Wednesday’s losses and closed with a hike of 3.50%, buoyed by the shares of Byma, Transportadora de Gas del Sur (TGSU2) and Cresud (CRES). Chile’s Ipsa (IPSA) index saw the worst region’s performance, dropping 1.01%.

Following is a roundup of Thursday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

  • The president of the best performing bank on the Brazilian stock exchange said Thursday that investors should not fear the possibility of Luiz Inácio Lula da Silva’s victory in the October presidential elections, as long as he appoints a market-friendly economic team. During the day, the former president once again criticized the price parity policy adopted by Petrobras (PETR4) and said he would discuss it again if elected.

Chile:

Colombia:

Dominican Republic:

Ecuador:

El Salvador:

Guatemala:

Mexico:

Peru:

Uruguay: