Bloomberg Línea — Following the withdrawal from Brazil’s presidential race of Sergio Moro and Eduardo Leite, voting intentions for incumbent President Jair Bolsonaro have risen from 26% to 30%, according to an XP/Ipespe survey released Wednesday.
Colombia’s exports totaled $4.20 billion in February, an increase of 43% compared to the same month of 2021.
On the region’s stock markets, Chile’s IPSA index (IPSA) was the only Latin American index that posted gains on Wednesday, up 0.86%, driven by the performance of shares of Banco de Chile (CHILE), Banco de Crédito e Inversiones (BCI) and Cia Sud Americana de Vapores (VAPORES), among others.
Following is a roundup of Wednesday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.
- While consulting firms are projecting monthly inflation in excess of 5% for March, the Argentine government is looking for ways to mitigate the loss of purchasing power, and has reached an agreement with unions to bring forward wage negotiations.
- Since Russia invaded Ukraine, farmers in the Pampas plains have been recalibrating their plans in view of the increase in crop prices and raw materials such as fertilizers. Six weeks later, a trend is emerging: Argentina is poised for a sunflower boom.
- Following the withdrawal from the presidential race of Sergio Moro and Eduardo Leite, voting intentions for incumbent President Jair Bolsonaro have risen from 26% to 30%, according to an XP/Ipespe survey released Wednesday.
- J&F Investimentos, owned by the Batista family, emerged as the surprise buyer of some of Vale’s operations (VALE3), according to a regulatory document issued on Wednesday. The assets include manganese and iron ore mines, as well as logistics operations, for a total of $1.2 billion, including debt.
- Synthetic fuels manufacturer HIF Global raised $260 million in capital to develop carbon-neutral fuel projects in Chile, the United States and Australia. Investors joining the company include Porsche AG, which acquired a 12.5% stake by injecting US$75 million into the company; EIG, Baker Hughes, and Gemstone Investments.
- Colombia’s exports totaled $4.20 billion in February, an increase of 43% compared to the same month of 2021.
- Colombia’s weak fiscal position makes it difficult to help millions of families in poverty unless the country can boost growth and job creation, according to conservative presidential candidate Federico ‘Fico’ Gutierrez.
- Price stability still prevails in Ecuador. March inflation in March shows this, as it stood at 0.11% monthly and 2.64% annually, below the 0.23% and 2.71% recorded in February, respectively.
- At 28, Honduran Juan Mayén runs a consulting firm that operates Bitcoin, Ethereum and Litecoin ATMs, and is the young entrepreneur behind the only three cryptocurrency ATMs in Honduras.
- Mexican President Andres Manuel Lopez Obrador has criticized the discussion by ministers of the Supreme Court of Justice on the unconstitutionality of the Electricity Industry Law.
- Banco Azteca is accumulating $50 million per week due to the difficulty in exporting dollars. Billionaire Ricardo Salinas’ bank and other Mexican banks are having increasing problems offloading physical greenbacks.
- The upcoming visit to Panama by U.S. Secretary of State Antony Blinken is seen as a ray of light that is encouraging Panamanian authorities to try to insist on renegotiating the Trade Promotion Treaty signed between the two nations in 2007, whose tariff reliefs have caused a debacle in domestic production.
- Losses amounting to billions of soles were recorded as a result of the curfew imposed in Lima and Callao in a bid by the government to stem protests against rising fuel prices. Eight business leaders tell Bloomberg Línea of the ordeal they had to face.