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CULTURE & ECONOMY
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Fintech first for Latin America
Latin America will be at the forefront of fintech next year with Peru and Colombia tipped to host the first continental editions of one of the world’s most revered financial sector conferences. Finnovating will bring their global event Unconference to Latin America for the first time following strong interest from startups and banks alike. The event pairs the biggest players from fintech startups and global banks to work through the implications of technology on the world of finance – and 66 Peruvian startups from the fintech sector have already been chosen to attend along with the leaders of large companies. Unconference director Pedro […]Read more...
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Cuba and its coming crop of digital innovators
Fifty years is a long time, and especially so under imposed isolation. Cuba’s economic freeze from the international community may be starting to thaw but citizens’ conservative approach to resources is unlikely to alter. Cars can always be repaired and appliances always fixed on the island nation. It is this mentality – this resolver – which is driving tech opportunities in the Communist state. The people of Cuba have spent the the better part of a century making do with what they have, and their unique approach is influencing a current wave of digital ingenuity. Case in point: accommodation application […]Read more...
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Walmart expands digital empire into Latin America
And just like that: Walmart laid out its $225 million plan to further digital domination in Latin America. The American retail giant confirmed its purchase of grocery delivery platform Cornershop on Thursday with the clear intent of extending its international focus on digital commerce and home convenience. The purchase of the on-demand delivery app, which operates in Chile and Mexico, gives an important indication of where the world’s biggest retailer by sales is headed. The Cornershop investment follows similar moves from Walmart in other corners of the world. The company made recent agreements with Chinese online grocer Dada-JD Daojia and Japanese […]Read more...
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Fall to Brazilian real hits domestic travel agency
The falling value of the Brazilian real is starting to impact on some of the nation’s biggest companies as the main shareholder of travel agency Decolar decided to sell its stake in the company last month. Decolar is the Brazilian subsidiary of Latin America’s largest online travel agency Despegar, and represents 40 percent of its total revenue. Only 11 months after Despegar debuted on the New York Stock Exchange, the decision from main shareholder Tiger Global to sell all of its 43.7 per cent stake in the company caught many off guard. Prior to the decision, the Argentine-based company Despegar had released a 2Q18 growth […]Read more...
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Peru private investment poised for growth
Peru’s economy continues to see significant boosts in the private sector. Estimates from the nation’s Economy Ministry predict investments will continue at a five percent increase this year while increasing by 7.5 percent in the following 12 months. According to Peru’s state-owned news agency Andina, private investment will be one of the major driving factors behind improving the overall economy. Earlier this year, private investment began to grow significantly following 14 quarters of recession. “That (recovery) has been driven by global growth, the rebound in public investment that is delayed, and the Central Bank’s monetary policy,” saidCentral Reserve Bank (BCR) President […]Read more...
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Mexico’s incoming government signals energy sector nationalization
Mexico’s incoming government has signaled that changes to bolster hydrocarbon regulations could be on the horizon. The news comes amidst a pause in the auctioning of new oil blocks as the nation appears to further increase nationalization of the energy sector. Reuters reports that oil auctions were set for September before the decision to postpone was announced. The sale would have seen 45 onshore areas go under in the hammer in one of the final “energy overhaul” endeavours since current President Enrique Peña Nieto began the project in 2013. Since then, it has been reported that more than 100 private contracts have […]Read more...
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Pope Francis addresses sexual abuse scandals in open letter
For the first time in Vatican history, the Pope read a letter to all of the 1.2 billion Catholics across the world in response to the growing sexual abuse crises within the church. The letter, titled “His Holiness Pope Francis to the People of God” was three pages long, reported The Guardian. His address to the people broke a tense Papal silence since the release of a US Grand Juror report revealing and documenting the abuse of 1,000 children in the state of Pennsylvania by 300 clergymen. “With shame and repentance, we acknowledge as an ecclesial community that we were not where […]Read more...
