Cuba: News that Anglo-Dutch consumer products company Unilever will return to Cuba to build a $35 million plant in the special development zone at the port of Mariel, about 40 kilometers west of Havana, is one of the clearest signs yet that the communist nation is taking a more pragmatic approach to foreign direct investment.
Trends | Peace Deals
Low oil prices are widening Colombia’s current-account deficit, dampening the confidence of foreign investors and dragging down the economy.
Brazil: The Banco Central do Brasil gave new Finance minister Nelson Barbosa a bit of help on January 20, when it decided to hold the short-term interest rate, the Selic, to 14.25%.
The axe fell on Brazil heading into 2016 as it suffered a downgrade to junk status by Fitch Ratings, heightening the air of crisis as the beleaguered nation grapples with political turmoil and recession.
Corporate Governance | Management
Selling the assets could improve BTG’s net worth by 20 billion reais ($5 billion).
Trends | Taxation
Brazil is well known in the global business sector for its tax complexity, heavy tax burden (around 35% of GDP) and high use of technology for tax collection. Not for nothing do Brazilians call their tax authority—Receita Federal do Brasil—“the Lion.”
Global Finance interviews senior executives from some of the banks featured in this year’s World’s Safest Banks rankings.