what it means. Thinking of you, Costa Rica
Check this out for an excellent early morning news review as he does this nearly every day. Headlines from all over the LatAm region all neatly packaged and a line of comment to boot. Put this dude on your RSS immediately and then I won’t feel so obliged to be all serious here.
Wow, what a coincidence. As soon as the Peruvian petroleum exploration business comes under close corruption scrutiny a whole bunch of international players stop getting busy. Add to the list of deferred projects this JV between Royal Dutch Shell and BPZ yesterday. BPZ dropped 17% on this news that was blamed on the market’s “current environment”. Yeah right. Wanna see this bridge I have for sale again? It’s a really nice one…got arches and everything.
In other regional countries insider stock trading is positively encouraged, but Chile is more serious than most (as we know). Land of the Mapuche wins more anti-corruption brownie points by fining and upholding this ruling against a director of airline LAN.
Finally, an excellent report from the London Financial Times about the economic downturn and how it’s affecting the whole region, written by Stephen Fidler. This article is highly recommended as balanced and accurate. Personally, I know the world has gone totally gaga when I start agreeing with Ricardo Hausmann. Sheesh…i need a stiff drink.