header_logo
cancel1

News

El Salvador bans Pepsi imports
El Salvador bans Pepsi imports

El Salvador bans Pepsi imports

21 February 2003

The Supreme Court of El Salvador has temporarily banned imports of Pepsi following a dispute between Guatemalan bottler Embotelladora La Mariposa (ELM) and its local competitor Embotelladora La Cascada (ELC). PepsiCo has put together a legal team in an effort to persuade the Court to reverse its 14 January decision.

IDB loan will help finance Guatemalan surveys
IDB loan will help finance Guatemalan surveys

IDB loan will help finance Guatemalan surveys

24 January 2003

In a bid to aid state decision-making, the Inter-American Development Bank (IDB) has approved a US$25 million dollar-denominated loan to Guatemala to help strengthen its statistics institute, the Instituto Nacional de Estadísticas (INE), and to enable a population and housing census and an agriculture census to be carried out. The bank announced its decision on January 15.

Coke bottler to buy Panamco in Pan-American mega-deal
Coke bottler to buy Panamco in Pan-American mega-deal

Coke bottler to buy Panamco in Pan-American mega-deal

10 January 2003

Mexican bottler Coca-Cola FEMSA (CCF) has announced that it will acquire Miami-based rival Panamerican Beverages Inc (Panamco) for US$3.6 billion in a deal that covers operations across the region. The deal is expected to close in the second half of this year.

Double taxation rule cheats Guatemalan taxman of revenue
Double taxation rule cheats Guatemalan taxman of revenue

Double taxation rule cheats Guatemalan taxman of revenue

10 January 2003

A Guatemalan court has cut off one of the government’s most important sources of revenue - fuel tax. The Constitutional Court of Guatemala published a ruling on 18 December declaring Article 13 of the Law on Distribution of Petroleum Products unconstitutional, effectively preventing the collection of further tax.

IFC invests in Central American financial sector
IFC invests in Central American financial sector

IFC invests in Central American financial sector

20 December 2002

The International Finance Corporation (IFC) has invested US$40 million in the Unión de Bancos Cuscatlán (UBC), a financial group in Central America. The deal was closed on October 2.

CAF launches third notes programme in Spanish market
CAF launches third notes programme in Spanish market

CAF launches third notes programme in Spanish market

13 December 2002

International development organisation Corporación Andina De Fomento (CAF) has issued short-term notes to the value of €500 million (US$504 million) in the Spanish Fixed Income Market (Mercado AIAF de Renta Fija). The programme was cleared on November 15, and its term will expire a year from that date.

IBM buys PricewaterhouseCoopers' consulting assets
IBM buys PricewaterhouseCoopers' consulting assets

IBM buys PricewaterhouseCoopers' consulting assets

08 November 2002

International accountancy and consulting company PricewaterhouseCoopers International (PW) has sold its management consulting business to International Business Machines (IBM), including all related assets in Latin America. The deal closed on October 1, and the purchase price was US$3.5 billion.

Burns Philp buys Kraft bakery subsidiary
Burns Philp buys Kraft bakery subsidiary

Burns Philp buys Kraft bakery subsidiary

08 November 2002

Australian food company Burns Philp and Co has bought the Latin American yeast and industrial bakery subsidiary of Kraft Foods International for US$110 million. The deal closed on October 31.

IADB and OECD competition initiative
IADB and OECD competition initiative

IADB and OECD competition initiative

04 October 2002

The IADB and the OECD have just established a new partnership to help

Enron/Anderson and cultural change
Enron/Anderson and cultural change

Enron/Anderson and cultural change

02 October 2002

The recent accounting scandals have thrown the spotlight on practices within the legal profession and in particular on how conflicts of interest are resolved. Professional liability insurance is virtually unknown in Latin America, and clear standard corporate governance rules are hard to come by. But, as Rachel Youngman discovers, change is underway.