Latin America

Mercosur members clash over Venezuela presidency

The founding members of South American trade block Mercosur are embroiled in a serious controversy entailing the presidency of the group. Mercosur operates on a rotating presidency and at the end of July when Uruguay completed its six-month Mercosur presidency, Venezuela was slated to assume the post. However, Brazil. Argentina and Paraguay are strenuously challenging the […]

Flemingo leaves Asuncion

Duty free retailer Flemingo has sold its Asuncion departure and arrival stores in Paraguay. TMI understands that the stores have been sold to GDF, a Georgian border shop operator. Flemingo won a 4 year contract to operate the stores in the renovated international wing of Paraguay’s leading international gateway at Silvio Pettirossi International Airport in July 2014.

Corporacion America eyes NYSE listing

Reuters has announced that Argentine billionaire Eduardo Eurnekian is considering listing his Corporacion America in a $1 billion listing on the New York Stock Exchange. Corporacion America, a holding company for businesses ranging from infrastructure to technology, includes Aeropuertos Argentina 2000, which operates 33 airports around the country, including Buenos Aires’ main international airport, Ezeiza, […]

Dufry welcomes new world class shopping at Lima Duty Free

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From the multi-colored striped lights of the MAC boutique that beckon to travelers passing through immigration, to the specially curated selection of products for transit passengers at the far side of the store, Dufry’s $7 million renovation of the Lima Duty Free stores at Jorge Chavez International airport in Peru is a world class addition […]

Actium to manage Americas business for select Emperador spirits brands

Miami-based Actium Group has announced that it will manage the Americas business for the portfolio of brands recently purchased by Emperador Inc. from Beam Suntory, which includes Fundador, the Philippines’ best-selling premium imported brandy, Terry Centenario, Spain’s #1 selling brandy; Tres Cepas, the #1 brandy in Equatorial Guinea, and Harveys Sherry, including Bristol Cream. Beginning […]

Goslings Rums partners with MONARQ for LA and Caribbean

  Goslings Rums has formed a regional partnership with the MONARQ Group. MONARQ will represent Goslings in Latin America and the Caribbean for both duty free and domestic beginning July 1, 2016. Goslings Brothers Ltd is Bermuda’s oldest business house and largest exporter. Since 2004, Goslings Rums has been spearheading a major international expansion of […]

Panama’s long-awaited canal expansion opens for business

    Panama opened the long-delayed US$5.4 billion expansion of its shipping canal on Sunday,inaugurating the interoceanic waterway and ushering in a new era in global trade. The Chinese container ship “Cosco Shipping Panama” entered the Agua Clara lock on the Atlantic side at 7:50 a.m. to begin the first crossing of the 50-mile-long waterway. It was […]

Farewell to Alberto “Pancho” Motta

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The heir of a proud legacy and pioneering spirit has passed away   It is with profound sadness and immense shock that we confirm the news that Alberto “Pancho” Motta, Jr., Director of Motta Internacional, passed away this morning at his home in Panama. Many of us in the industry spent the last week with […]

Mosquito viruses threaten travel in the Americas

As if plunging economies and unfavorable currency exchange weren’t enough to worry the Americas travel industry, a growing portion of the region is now under threat from two mosquito borne diseases, the Zika virus in the Caribbean and Latin America, and dengue fever in Hawaii. The current outbreak of the Zika virus, which is transmitted […]

Brazil faces worst recession since 1901

Bloomberg News has reported that Brazil won’t return to growth until at least 2018 after two years of recession and one of stagnation, according to the International Monetary Fund. This would mark the first time in over a century that Latin America’s largest economy fails to expand for that long. On Tuesday, the IMF cut […]

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