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Chiquita suspends Fyffes deal vote, to discuss Cutrale-Safra bid SAO PAULO: Banana producer Chiquita Brands International Inc adjourned a shareholder vote on a plan to merge with Fyffes Plc in order to engage in discussions with Grupo Cutrale and Safra Group regarding a $611 million unsolicited takeover bid.US-based Chiquita said in a statement on Monday that Irish tropical fruits producer Fyffes had granted it a waiver to negotiate with Cutrale and Safra. Chiquita's planned Sept. 17 shareholder meeting to vote on the Fyffes deal was postponed until Oct. 3, the statement added. Chiquita, which agreed in March to merge with Fyffes to create the world's biggest banana supplier, will review the Safra-Cutrale bid, the statement added. While management continued to support the Fyffes deal, Chiquita wants to join discussions that lead to a "final and best" offer from the bidders, the statement said. The move by Chiquita comes days after Cutrale and Safra began preliminary steps to launch a proxy ...

Petrobras scandal shakes up Brazil presidential race RIO DE JANEIRO: Brazil's October presidential race has been shaken up by a corruption scandal allegedly involving state-run oil firm Petrobras and dozens of lawmakers, with both leading candidates forced onto the defensive after colleagues were implicated. Media reported on Friday night that a jailed former Petrobras director had named dozens of politicians who allegedly received kickbacks off the company's contracts. The revelations are a headache for President Dilma Rousseff, undermining her reputation for zero ...
Ten killed in plane crash in Colombian jungle BOGOTA: A small airplane crashed minutes after take-off in Colombia's southern jungle on Saturday, killing all 10 people aboard, the country's civil aviation agency said."The airplane was found, broken apart and burned, 10 km (6 miles) from populated areas in the municipality of Puerto Santander, Amazonas department," the agency said in a statement. The Air Force was carrying out the effort to retrieve the bodies of the eight passengers and two crew members, who were ...
Ten feared dead in Colombia plane crash BOGOTA: Colombian authorities said there was little chance of finding survivors after a small plane with 10 people on board crashed in the Amazon jungle.The aircraft with registration number HK-4755 PA 34 Navajo took off from Araracuara Airport in the country's south around 3:00 pm local time (2000 GMT) on Saturday. It lost contact with air traffic control as it went over the town of Florencia.Authorities have yet to find the occupants -- two crew ...
Ecuador to target unhealthy diets with 'junk food tax' QUITO: Ecuador plans to impose a "junk food tax" on fast food restaurants, and will use the revenues to address the negative health effects on its citizens of diets laden with salt and fat. "We are moving past poverty-related problems since the country is progressing a lot, and moving on to problems of affluence," President Rafael Correa said Thursday.The chief of state, who holds a majority in parliament, said the tax would mainly target international ...
Venezuela leader's popularity sinks amid crisis CARACAS: Less than two years after succeeding Venezuela's late leader Hugo Chavez, President Nicolas Maduro has struggled to replicate his mentor's popularity amid a deepening economic crisis.With his approval rating plummeting, Maduro announced late Tuesday that he was replacing the head of state oil giant PDVSA, Rafael Ramirez, and relieved him of his role as vice president for economic policy.But the socialist leader fell short of announcing much-awaited measures to revive an economy beset by ...
Argentina proposes France as bond payment jurisdiction BUENOS AIRES: Argentina's Senate on Wednesday began debating a bill designed to sidestep US court-rulings that led to the South American country's July debt default, including an amendment to add France as a jurisdiction for making bond payments.President Cristina Fernandez wants to resume servicing sovereign bonds that were restructured after Argentina's previous default in 2001.The bill is her attempt at putting the country's debt out of reach of US courts that have jurisdiction over some ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln