Tag Archives: Latin America

Cuba cracks down on goods transported in travelers’ luggage

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“Passengers on flights from Miami said they were bringing in far less than usual thanks to higher customs duties and stricter limits on the number of products allowed under rules that went into effect Monday.  The easing of travel restrictions by the U.S. and Cuban governments over the last five years has allowed travelers to bring in nearly $2 billion of products a year. The government says the new limits meant to curb abuses that have turned air travel in particular into a way for professional ‘mules’ to illegally import supplies for both black-market businesses and legal private enterprises that are supposed to buy supplies from the state.”

http://www.myrtlebeachonline.com/2014/09/01/4445127_cuba-cracks-down-on-goods-in-travelers.html?rh=1

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Senator calls for Burger King boycott over tax inversion move to Canada

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“The push for a boycott comes as Burger King plans to renounce its corporate citizenship in the United States and reincorporate in Canada.  Known as a ‘tax inversion,’ the move will allow Burger King to evade the 35% corporate tax rate in the US – the highest in the world, though most large corporations end up paying a significantly lower rate. In Canada, the corporate tax rate is 15%.  Sen. Sherrod Brown said a global minimum tax needs to be implemented to prevent companies from avoiding taxes.  Burger King is not currently being run by an American firm.  ‘The private equity fund that currently runs Burger King, 3G Capital, is Brazilian,” wrote Mark Gongloff.”

http://rt.com/usa/182984-boycott-burger-king-tax-dodge/

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Venezuela To Mandate Fingerprinting Grocery Shoppers By Year End

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“Venezuelans could soon have to scan their fingerprints to buy bread.  President Nicolas Maduro says a mandatory fingerprinting system is being implemented at grocery stores to combat food shortages by keeping people from buying too much of a single item. He calls it an ‘anti-fraud system’ like the fingerprint scan the country uses for voting.  Critics said the new system is tantamount to rationing and constitutes a breach of privacy.  Venezuela has been grappling with shortages of basic goods like cooking oil and flour for more than a year. In the spring, the administration tried out a similar system in government-run supermarkets on a voluntary basis.”

http://abcnews.go.com/International/wireStory/venezuela-proposes-fingerprinting-shoppers-25073950

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Venezuela’s gold reserves fall 24% in 18 months

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“Venezuela is the Latin American country with the highest exposure to gold prices, as gold bars represent 71% of the country’s reserves.  The high share of gold in the Venezuelan reserves is not the result of an increase in the amount of gold bars; they remain at 11.8 million troy ounces, just like in the first half of 2007, but they gained relevance because cash reserves in US dollars plummeted to minimal levels.  Over the last eight years, the BCV has transferred USD 47 billion to the National Development Fund (Fonden). This fund is the mechanism government uses to cover expenditures and investments. The operation reduced the amount of cash reserves to less than USD 2 billion.”

http://english.eluniversal.com/economia/140815/venezuelas-gold-reserves-fall-24-in-18-months

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Ten percent of Venezuelans are taking steps for emigrating

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“The figure exceeds the numbers pertaining to the highest peaks of emigration from Venezuela in the last decade: after the coup of 2002 and after the presidential recall referendum in 2004.  The president of Datanálisis argues that in this continent the poorest strata of the population are often the natural emigrants (for economic reasons rather than political reasons). In Venezuela, however, most people aiming to live in other countries belong to the highest strata of the population.  Datanálisis’ latest survey determined the common profile of Venezuelan emigrants: they are young people (aged 18-35), professionals or equity holders whose contribution to the country GDP is high.”

http://english.eluniversal.com/nacional-y-politica/140816/ten-percent-of-venezuelans-are-taking-steps-for-emigrating

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Venezuelan VP: Anyone rejecting border closure deserves no trust

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“Venezuelan Vice-President Jorge Arreaza on Tuesday asserted that anyone lambasting the government’s security measures on the Venezuela-Colombia border should be distrusted, claiming that critics may be interested in leaving the problem unsolved. ‘Those criticizing the measures are directly interested either in the smuggling mafias or destabilization…’ said Arreaza during a conference on comprehensive defense of the nation.  The senior officer further attributed domestic shortage to smuggling.”

http://english.eluniversal.com/nacional-y-politica/140819/venezuelan-vp-anyone-rejecting-border-closure-deserves-no-trust

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8,000 Convenience Stores in Argentina Now Sell Bitcoin

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“BitPagos has launched Ripio, a new bitcoin brokerage service that allows consumers in Argentina to buy small amounts of bitcoin at more than 8,000 convenience stores.  To achieve this goal, Ripio will integrate with TeleRecargas, a popular mobile phone service that allows consumers to prepay for cell phone plans at a network of partner convenience stores across Argentina.  Argentina and Palo Alto-based bitcoin merchant processor BitPagos raised $600,000 from prominent bitcoin angel investors earlier this year. CEO Sebastian Serrano [said] Ripio aims to target underbanked consumers as well as existing bitcoin users who want an easy way to buy bitcoins at a physical location.”

http://www.coindesk.com/bitpagos-brings-bitcoin-8000-convenience-stores-ripio/

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What Really Drove the Children North

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“To make the ‘Obama did it’ hypothesis work, it is necessary to defeat the claim that the migrants are fleeing intolerable violence. This has given rise to the oft-repeated line that ‘those countries’ have always been very violent.   That is patently untrue.  Back in the early 1990s, drugs from South America flowed through the Caribbean to the U.S. But when a U.S. interdiction strategy in the Caribbean raised costs, trafficking shifted to land routes up the Central American isthmus and through Mexico. With Mexican President Felipe Calderón’s war on the cartels, launched in 2007, the underworld gradually slithered toward the poorer, weaker neighboring countries.”

http://online.wsj.com/articles/mary-ogrady-what-really-drove-the-children-north-1405892801

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Venezuela Seeks Buyer for Citgo Petroleum Refinery Unit

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“Petroleos de Venezuela SA is seeking a buyer for Citgo Petroleum Corp., its U.S. refining and marketing company, in a deal that may be worth as much as $15 billion.  The government of President Nicolas Maduro probably is looking to sell offshore refineries to boost hydrocarbons exports to China, raise cash and reduce the risk of having assets seized as part of PDVSA lawsuits abroad, GlobalSource Partners’ Ruth de Krivoy and Tamara Herrera said today in an e-mailed report to clients.  The sale of U.S. assets ‘would put PDVSA in a better position to negotiate settlements should adverse decisions be handed down in pending international arbitration cases,’ they wrote.”

http://www.bloomberg.com/news/2014-07-31/venezuela-seeks-buyer-for-citgo-petroleum-refinery-unit.html

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Jim Rogers: Russian/Chinese/Brazil currency can battle dollar dominance

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“The presidents of Russia and Brazil have met ahead of the BRICS Summit. Vladimir Putin and Dewma WHO-sseff were present as some of the two countries’ largest corporations signed agreements to deepen the economic ties between the two.  Corporate investor Jim Rogers tells RT that the BRICS members are capable of challenging the United States’ financial dominance.”

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