Latin America

Financial News

Cemex May Sue After Strabag Pulls Out of $434 Million Purchase in Europe Cemex SAB, the world’s third-largest cement maker, said it may take legal action after Strabag SE withdrew from buying the Mexican company’s Austrian and Hungarian assets because it failed to gain antitrust approval.

Emerging-Markets Share of World Stocks Hits Record; China Tops $3 Trillion Developing countries’ share of worldwide equity value climbed to a record as the fastest- growing economies lured investors amid the first global recession since World War II.

Repsol in Talks With China's CNPC, Cnooc to Sell Stake in Argentinean Unit Repsol YPF SA is in talks with China National Petroleum Corp. and China National Offshore Oil Corp. about a sale of a stake in its Argentinean unit, three people familiar with the discussions said.

Brazilian Stocks Fall, Capping Weekly Drop; Petrobras, Usiminas Decline Brazilian stocks fell, capping a weekly decline, as a drop in oil and metal prices sent Petroleo Brasileiro SA and Usinas Siderurgicas de Minas Gerais SA lower.

Venezuela, China May Sign New $4 Billion Loan-for-Oil Accord, Chavez Says Venezuela and China Development Bank Corp. are discussing a third $4 billion infrastructure loan to be paid in oil, President Hugo Chavez said.

Colombia's Central Bank Signals Rates May Not Drop Further at Next Meeting Colombia’s central bank policy makers signaled they may pause after their half-point reduction at their June 19 meeting, where they also considered a smaller rate cut or even keeping the rate unchanged.

Bachelet Says Chile Backs Inter-American Development Bank Recapitalization Chilean President Michelle Bachelet said her government supports the recapitalization of the Inter- American Development Bank to help developing countries cope with declining capital flows.

Brazil May Take Argentina to WTO Should Import-License Trade Talks Fail Brazil may file a complaint at the World Trade Organization against Argentina because of its delays in issuing import licenses for Brazilian goods, Foreign Trade Chamber Secretary Lytha Spindola said.

General News

Brazil's Real Advances Against Dollar on Signs of Faster Economic Recovery Brazil’s real rose, paring losses for the week, on speculation the economy is recovering after reports this week that industrial production expanded for a fifth month and exports grew more than expected.

Brazilian Steel Industry Is Seeing `Green Shoots,' Bank of America Says Brazil’s steel industry is showing signs of recovery as export prices rebound and domestic prices reach a bottom, Bank of America Corp. said.

Zelaya Asks for International Support as OAS Backs His Return to Honduras Honduras’s deposed President Manuel Zelaya is touring Central America to secure international support for his return to power, even as his country’s courts, military and Congress said they’ll arrest him if he returns.

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