Peru Emerges As The Most Stable Investment Destination In Latin America Ahead Of Expo 2020 Dubai

Image

Peru Emerges As The Most Stable Investment Destination In Latin America Ahead Of Expo 2020 Dubai

The Peruvian pavilion at the Expo 2020 will be a place where the visitors will be able to take a journey towards growth, sustainability and resilience of the country.

The Republic of Peru has emerged as the most stable and risk-free nation for investment in Latin America, revealed in the latest study by the US-based financial services giant JP Morgan Chase. The report comes ahead of the Expo 2020 Dubai, where the South American nation is bullish to showcase as a timeless destination for tourism, trade and investment. The Peruvian pavilion at the Expo 2020 will be a place where the visitors will be able to take a journey towards growth, sustainability and resilience of the country.
 
The JP Morgan’s Emerging Market Bond Index (EMBI) report assesses the level of risk and interest rates paid for the sovereign debt securities of certain countries. This analysis is prepared in relation to the interest rates of the US Treasury bonds, which are considered risk free. The report ranked Peru as the Latin American economy with lower financial risk among the seven countries subjected for the study: Peru, Venezuela, Argentina, Mexico, Brazil, Colombia and Chile.
For the past few years, Peruvian government has been hard working to become the best investment-friendly nation in Latin America, where Peru has been one of the fastest growing economy over the last decade. This is a result of the consistent economic policies measures implemented to stimulate investments in the country and create millions of jobs positions over the few next years.

Nowadays, Peru has an extensive network of trade agreements with several countries, which generate opportunities to develop its exports and business sector. These show Peru as a country that has not only been concerned about supplying its products to the international market, but also about showing opportunities in their internal market, helping to reduce costs to their consumers and to their domestic production.

At the Expo 2020 Dubai, Peru will showcase its commercial offer aims to promote their export stars products, such as super foods, alpaca fiber and quinoa. Peru has products that are unique in the world in various fields, ranging from agricultural products and crafts to its gastronomy. Also, Peru will promote tourism, investments and innovative initiatives in different areas.

Peru is now bullish on increasing exports of its ethnic agricultural and other products to the Middle East in line with the rising demand from the region.

In November 2019, the Government of Peru presented its plans for Expo 2020 Dubai and initiated the construction of the Peruvian pavilion in the presence of H.E. Edgar Vásquez, the Minister of Foreign Trade and Tourism of Peru. Coinciding with this, the Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) also organized Expo Peru Dubai 2019 to promote Peruvian trade and tourism in the region.

Peru is the third largest country in South America and one of the 20 largest in the world – its surface area covers more than the territories of Spain and France combined. Being a consultative party to the Antarctic Treaty, it has a scientific station called ‘Machu Picchu’ on this continent.

Located in the western part of South America, Peru’s territory borders Ecuador, Colombia, Brazil, Bolivia and Chile. Peru covers 1,285,215 km2 of land and 200 nautical miles of the Pacific Ocean, as well as 60 million hectares in Antarctica. It has an estimated population of over 31.5 million inhabitants.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Despegar to Acquire 100% of Best Day, a Leading Travel Agency in Mexico

Despegar.com, Corp., the leading online travel company in Latin America, today announced it has agreed to acquire Best Day Travel Group one of the leading travel agencies in Mexico, for a total consideration of approximately US$136 million, subject to the occurrence of certain closing and business conditions.

A portion of the purchase price is payable on a deferred basis and includes a variable component of up to circa +/- 10% of the total consideration, based on future performance.

According to Best Day, during 2019 the company recorded estimated unaudited pro forma revenues and EBITDA of approximately US$140 million and US$8 million, respectively, with online sales accounting for approximately 70% of total sales. Approximately 75% of its revenue is generated in Mexico, further strengthening Despegar’s footprint in this country. The remaining revenue is generated mainly in Brazil, Argentina, U.S. and Canada, among others. Packages, Hotels and Other Travel Products account for approximately 95% of its revenues.

Best Day operates a cross-platform business model. In addition to its Business to Consumer business operated through its online platform, call centers and more than 200 kiosks, the company offers ground transportation, tours and activities across Mexico main destinations.

On the B2B front, Best Day provides online wholesale travel products to agencies worldwide through its subsidiary HotelDO as well as white label services for major travel vendors, including exclusive partnerships with the largest Mexican airlines operating their packages platforms. Despegar expects to maintain the Best Day brands and network of kiosks as well as key executives.

Mr. Damian Scokin, CEO of Despegar, noted: “We are very pleased to have entered into this agreement with Best Day, which is aligned with the strategic priorities discussed at Despegar’s recent Investor Day. This is a significant milestone in our consolidation strategy that started with the acquisition of Viajes Falabella. Additionally, this acquisition is a significant landmark given our goal to continue expanding our operations in Mexico, Latin America’s most important tourism market and the seventh most important destination worldwide. Together, Despegar’s unique competitive levers combined with Best Day’s expertise in wholesale hotel offerings and destination services, will further enhance our value proposition. Best Day also has strong partnerships with leading travel vendors. We are acquiring a company with a solid strategic position and a successful track record that provides significant opportunities to strengthen Despegar’s presence in Mexico and to grow its Business to Customer value proposition.”

Mr. Julian Balbuena, President of the Board of Best Day, commented: “At Best Day Travel Group we are very proud of this transaction. We have been operating in the market for over 35 years, and the fact that a company like Despegar, the leader in the Latin American travel market, sees in us an opportunity to strengthen their value proposition in the Mexican market, speaks clearly about the capabilities we have built. For the Best Day team, it is an opportunity to enhance those capabilities to continue offering customers unique experiences with the travel company that has innovated like no other in the region over the last 20 years.”

https://www.us.despegar.com/

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

5 Security Tips to Keep Your Business Safe Year Round

Image

5 Security Tips to Keep Your Business Safe Year Round

If your business is operational, your business is vulnerable. Any amount of money or data, no matter how small, is potentially tempting to thieves. Having assets stolen or damaged can hurt not just you, but your clientele, and the threats to your company have grown exponentially since the advent of the internet. A large portion of business is conducted online nowadays, and anything on the internet can be challenging to secure. You need to keep your internet security in mind along with the more traditional concerns.

It’s safe to say that safety should be a top concern, so here are five tips to help keep your business safe.

1. Identify Risks

The first step in creating a more secure business is learning where you could be more guarded. It won’t hurt to research the most common ways companies like yours get hit. If you’ve had security breaches in the past, consider them. How did they happen? How could you prevent them from happening again? To run your business securely, you have to know where the points of vulnerability lie.

This rule applies to both online and physical business. For a physical building, risks could include repeated crimes in the area. Online threats can consist of things such as data breaches. With both, it’s crucial to know what the risks are so that you can tackle them appropriately.


2. Keep Employees Informed

Discuss security issues with all of your employees. Your staff can be a helpful resource in addressing security threats, but only if they’re well-informed. Hold company meetings to go over your safety policies. If you need to make changes, ensure that everyone knows about them. Comprehensive security training can change an employee from a liability to an asset.


3. Hire Carefully

While we’re on the subject of staff, remember that it’s a good idea to vet individuals thoroughly before hiring them. You could run background checks on new hires or even do something as simple as contacting their references. Just make sure you can confidently trust who you’re bringing onto your team.


4. Be Mindful of the Holidays

You should keep security in mind always, but you may want to pay special attention to certain parts of the year. The time you spend closed for the holidays may be prime time for thieves to make their move. With that in mind, you might find it helpful to adjust your security measures around the holidays. You wouldn’t want to spoil your time off by leaving your business at risk.


5. Seek Outside Help

Keeping your business safe can seem overwhelming. You wouldn’t be wrong for thinking it looks like too much for you to handle alone. In 2017, 27% of small businesses reported that a lack of expertise hindered their cybersecurity efforts. You can’t expect to be an expert on both your business and security measures, so you should turn to a security company.

Once again, this concern addresses both physical and online businesses. Plenty of firms are dedicated to cybersecurity, and you can easily hire one of them to protect your digital assets. Similarly, an abundance of security companies exists that will help ensure that your building and everything in it is safe.


Conclusion

There is no single thing you can do to ensure a completely safe business. It will help to follow all the steps listed here, but you shouldn’t follow them only once. Threats to your company change and evolve. Your strategy to handle them should evolve too.

Like everything else in running your business, security strategies should be continually readdressed and reviewed. People searching to take advantage of weak points in your company work tirelessly. To keep up, you have to work just as hard.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Half of UK & US firms predict a recession in 2020 as the Chinese economy is expected to maintain solid 6-7% growth rate

Image

Half of UK & US firms predict a recession in 2020 as the Chinese economy is expected to maintain solid 6-7% growth rate

Just under half of firms in the UK (46%) and US (45%) predict their country will go into recession in 2020, while the Chinese economy is expected to maintain a solid 6-7% growth rate, according to new research released today by trade finance provider Stenn.

The research, which spoke to over 700 senior executives at medium-large sized businesses across the UK, US and China, also revealed that well over a third (37%) of UK firms and one in three (35%) US firms expect to see a global recession or international global crisis in 2020.

In the UK, a third (33%) of firms expect the economy to shrink in 2020, with well over a tenth (14%) expecting it to contract by 1-3%. A further 6% expect the UK economy to stay flat with no growth. This comes after the ONS reported the UK economy ended 2019 in stagnation[1], under pressure from long-term uncertainty, mounting business costs and a global economic slowdown. The UK economy also suffered its worst month for growth in October for more than a decade, after the weakest three months since early 2009[2].

In the US, almost one in five (16%) expect the economy to shrink in 2020, most likely by 1-3% (7%). In addition, 6% also expect it to stay flat with no growth. The American economy was boosted at the beginning of 2020, from figures showing a continued recovery in the manufacturing sector and a drop in the number of unemployment claims, alongside Trump’s announcement that a phase one trade deal with China could be signed on 15th January, but the economy isn’t recession proof. The median US economic forecaster also currently estimates a 35% probability that a recession will begin this year. 

Despite the ongoing US-China trade war, 93% of Chinese firms are confident the economy will grow in 2020. Within this, a quarter (25%) expect the economy to grow by 4-5%, while four in 10 (40%) expect it to grow 6-7% next year. Global shares rallied at the beginning of January after China injected more money into its economy, further cementing its likelihood of growth.

Risks to businesses in 2020

The study also looked into the largest risks to businesses in 2020 across the globe, with similar themes emerging.

In the UK, increased geopolitical tensions such as trade tariffs, Brexit or regional instability, are cited as the number one risk to businesses in 2020 (65%). Increased environmental concerns and climate change came in as the second largest risk (50%), while changing consumer behaviour, such as shopping online rather than in store, took third place (48%). A further 43% of UK firms also view increased cyber threats or data breaches as a likely event, and a top risk to be wary of in 2020.

In China, changing consumer behaviour (e.g. shopping online rather than in store) is cited as the biggest risk for 2020 (65%). Firms in China view a global recession or international financial crisis as the second largest risk to business (64%), closely followed by increased geopolitical tensions (62%), as firms navigate the threat of the US-China trade war. 

In the US, firms have an equal weighting on the risk of increased geopolitical tension, increased environmental concerns, and changing consumer behavior to businesses in 2020 (all 54%). A further half (51%) also view increased cyber threats or data breaches as a top risk to businesses in 2020. 

Dr. Kerstin Braun, President of Stenn Group, commented: “2019 was weaker than expected and the stakes are only higher for the year ahead. Trump has been playing games with global trade and while the Chinese are confident their economy will grow as it moves beyond the US-China trade war, it’s a very different story in the UK and US.

“Boris Johnson’s election result provided some much-needed solidity the UK has been craving and with Brexit confirmed to go ahead, businesses can begin to see a future. But the prolonged uncertainty has been battling the UK economy and many businesses are concerned Brexit could cause the economy to shrink in 2020. It’s vital UK firms start investing again as they exit Brexit limbo. This is critical for long-term growth. If current political and economic uncertainties ease, we could see a gradual revival in activity over the course of the year, likely by 1 or 2%.

“At the same time, the US is exposed to the effects of Trump’s unpredictable trade actions. While some fundamentals like employment are good, there are enough economic red flags to signal weakness in the second half of 2020. For example, corporate and government debt levels are high and personal loans are up more than 10% from a year ago. This makes the economy vulnerable to shocks and dependent on the Fed to keep interest rates low. 

“The Chinese economy has been growing at rates above +6-7% since the early 1990s, so the fact the majority are optimistic this will continue in 2020 is a good sign. A quarter still expect slower growth than normal, at a rate of 4-5%, which comes after China’s economic growth rate slowed to a near 30-year low in Q3 2019, affecting people via the jobs market.

“What’s most worrisome is global trade. The capricious US-China tariff war has turned into political theatre at the expense of real businesses, while trade in and out of the UK after Brexit is still under threat. The uncertainty impacts short-term margins and long-term investment plans for companies with international supply chains.”

[1] Source: British Chambers of Commerce Quarterly Economic Suvey
[2] Source: ONS

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

U.S. Business News Announces the 2019 Business Elite Awards Winners

Image

United States, 2019 – U.S. Business News announces the winners of the 2019 Business Elite Awards.

The US has been a dominating pace-setter in the modern business world for several decades.  Throughout this time – and for the foreseeable future – businesses across the nation have been innovating and driving best practices in every industry, sector and field. As a means of celebrating these trend-setters and paragons, U.S. Business News is delighted to announce the winners of the 2019 Business Elite program, which itself is celebrating its second year.

Following the announcement, Jazmin Collins, Awards Coordinator, commented: “The companies featured in this year’s program represent the best of their respective industries. I am honoured to be able to showcase their achievements and success to our readers and wish them a fantastic year ahead.

To find out more about this year’s winners, please visit the U.S. Business News website  for a full winners’ list and a link to our winners’ supplement.

ENDS

NOTES TO EDITORS

About U.S. Business News Magazine

U.S. Business News is the definitive magazine for CEOs, top tier management and key decision makers across the nation. Created to inform, entertain, influence, and shape the corporate conversation across the nation through high quality editorial, in-depth research and an experienced and dedicated network of advisers, U.S. Business News provides our readership with the most authoritative and current analysis of the major changes effecting the corporate landscape, and the latest deals and topical issues dominating the corporate universe.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Normet Service Center Inaugurated in Chile

Image

Normet Service Center Inaugurated in Chile

The Service Center will enhance the capabilities to support Normet customers in Latin America with equipment rebuilds and process training.

“The Service Center is an important milestone for Normet to support the growing Normet fleet in Latin America and to enhance our capability to deliver refurbished machines to our customers more quickly”, says Juan Albanece, General Manager, Services Normet Latin America.

In addition to enhanced capabilities with rebuilds, process training is another key function of the new center.

“Process training will help our customers to improve the competence of their staff on key processes. For example, with sprayed concrete we have proven that training will improve productivity and reduce rebound, reducing CO2 emissions as well”, says Marcelo Anabalon, Senior Vice President, Normet Latin America.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

REPL Helps Implement Workforce Management Solution for More Than 1.6 Million Walmart Employees Worldwide

Image

REPL Helps Implement Workforce Management Solution for More Than 1.6 Million Walmart Employees Worldwide

Global retail IT consultancy and technology firm, REPL Group has successfully rolled out JDA Workforce Management to help improve the scheduling accuracy for Walmart.  The rollout touches 1.6 million associates in 7,000 stores across the globe.

After successfully partnering with JDA to implement JDA Workforce Management in Asda stores, Walmart’s UK division, REPL deployed the JDA solution for Walmart globally.  REPL managed the overall implementation in all markets by providing workforce management implementation services, system expertise and project management.  REPL also implemented their own WFM Connect, a mobile-based dynamic workforce application which works seamlessly and in real-time with JDA Workforce Management.  This allows managers and associates to manage every aspect of scheduling, empowering managers to manage the workforce quickly and effectively and for associates to have visibility of their schedules and be able to pick-up and swap shifts that provide choice and meet customer demand.  

REPL has also supported a number of Walmart workforce management (WFM) initiatives beyond the initial implementation, using their global expertise in WFM and a wider retail context to ensure initiatives landed and system changes were well executed.  To work closely with Walmart, REPL opened an office in close proximity to Walmart’s headquarters in Bentonville, Arkansas, to provide continual support and enabling the two teams to work even more effectively together.

The WFM solution implemented by REPL has provided Walmart with a number of benefits which has made schedules easier to manage in line with shifting customer and associate needs and reduced off-salesfloor time using the mobile scheduling application.  Walmart’s associates also gain real-time visibility of schedules on a daily and weekly basis, in addition to optimizing shift patterns.

Mike Callender, executive chairman, REPL Group, commented: “We have been delighted to work with Walmart on this project and to implement a WFM solution in almost half of its stores globally. Our relationship with the team has gone from strength to strength over the last eight years and we look forward to building on this further by continuing to provide expertise and support to allow Walmart to roll out WFM solutions across its entire business.”

Rory Graham, Senior Director for WFM, Walmart said: “We always want to exceed customers’ expectations no matter how they choose to shop with Walmart and having our associates in the right place at the right time is the cornerstone to achieving that goal. Our collaboration with REPL has been an important part of implementing our new scheduling system for associates, which is helping provide predictable and flexible scheduling options.”

“We are proud to partner with REPL Group and support Walmart in its retail supply chain transformation,” said Terry Turner, president, North American Retail, JDA. “Walmart’s advanced workforce scheduling system expertly adapts to store – and associate – needs, and we look forward to supporting their journey in the years to come.”

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

U.S. Weekly Jobless Claims Fall, Ranks Of Unemployed Swelling

Image

U.S. Weekly Jobless Claims Fall, Ranks Of Unemployed Swelling

New applications for U.S. jobless benefits fell more than expected last week, but the labor market appears to be cooling, with the number of Americans on unemployment rolls surging to more than a 1-1/2-year high at the end of 2019.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 214,000 for the week ended Jan. 4, the Labor Department said on Thursday. The fourth straight weekly decline saw claims almost unwinding the jump seen in early December, which was blamed on a later-than-normal Thanksgiving Day.

Economists polled by Reuters had forecast claims would decrease to 220,000 in the latest week. The Labor Department said only claims for Puerto Rico were estimated last week.

The claims data was volatile in late 2019, with applications dropping to 203,000 at the end of November and shooting up to 252,000 in early December.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 9,500 to 224,000 last week. Labor market strength is helping to keep the economy on a moderate growth pace despite a deepening downturn in manufacturing.

The White House’s 18-month trade war with China has sapped business confidence and undercut capital expenditure. Though Washington and Beijing in December hammered out a “Phase 1” trade deal, considerable confusion remains about the details of the agreement, which is expected to be signed next week.

The government is expected to report on Friday that nonfarm payrolls increased by 164,000 jobs in December. While that would be a step down from November’s robust gain of 266,000, the anticipated pace would still be well above the roughly 100,000 jobs per month needed to keep up with growth in the working-age population.

The unemployment rate is forecast to be unchanged near a 50-year low of 3.5%. The Federal Reserve last month signaled interest rates could remain unchanged at least through this year. It lowered borrowing costs three times in 2019.

Minutes of the U.S. central bank’s Dec. 10-11 policy meeting published last week showed officials “generally expected sustained expansion of economic activity, strong labor market conditions,” though some viewed next month’s expected downgrade to employment growth as an indication the labor market was cooling.

The government last August estimated that the economy created 501,000 fewer jobs in the 12 months through March 2019 than previously reported, the biggest downward revision in the level of employment in a decade. That suggests job growth over that period averaged around 170,000 per month instead of 210,000. The revised payrolls data will be published on Feb. 7.

But the labor market appears to be losing momentum. Thursday’s claims report also showed the number of people receiving benefits after an initial week of aid surged by 75,000 to 1.80 million for the week ended Dec. 28, the biggest increase since November 2015. The four-week moving average of the so-called continuing claims rose 33,000 to 1.74 million.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Filo Mining Drills 84 Metres of .81% Copper and .59 G/T Gold & 69 Metres of 1.07% Copper and .61 G/T

Image

Filo Mining Drills 84 Metres of .81% Copper and .59 G/T Gold & 69 Metres of 1.07% Copper and .61 G/T

Filo Mining Corp. (TSXV, Nasdaq First North Growth Market: FIL) (“Filo Mining”, or the “Company”) is pleased to announce initial assay results from the 2019/2020 drill program at its 100% owned Filo del Sol project located on the border of Region III, Chile and San Juan Province, Argentina.

Drilling was initiated in November, and four diamond drill holes were in progress at the December break. Assay results have been received for the completed portions of two of these holes, FSDH032 and FSDH033. Drill crews have been remobilized to the project following the break, and all four holes will continue to progress in January. A reverse circulation drill has also been added to the program in order to begin testing a newly-identified southwesterly extension to the hydrothermal alteration associated with the Filo del Sol deposit.  

Commenting on the results, CEO Adam Lundin stated, “The drill holes announced today extend high-grade copper gold mineralization intersected in holes drilled last year. Hole FSDH032 is a very important hole that extends the current resource by 150m at depth and leaves it open to the northeast. The next few holes will tell us what lies below the large oxide resource in an area where previous holes ended in strong copper-gold mineralization. These early results set us up for an exciting remainder of the season.”

Results from the latest two holes are presented below:

Image

Hole FSDH032 was collared on section 9000N at an angle of -70 degrees towards the west and is planned to be drilled to a final depth of 1,000 metres. The hole was completed to a depth of 550 metres prior to the break, and assays to that depth indicate the bottom of the hole to be in strong copper-gold mineralization. Mineralization in this hole, below a depth of 400 metres, is outside of the current mineral resource. Mineralization is open to the northeast beyond FSDH032.

Hole FSDH033 was collared 200 metres to the south of FSDH032, on section 8800N, and drilled to the west at an angle of -70 degrees. The hole is planned to a depth of 1,000 metres and was drilled to 245 metres before the break. This hole is 72 metres to the east of, and parallel to, hole FSDH030 which was drilled during the 2018/2019 season. FSDH030 was abandoned short of its target depth, ending in strong copper-gold mineralization at 512 metres (see Filo News Release dated May 28, 2019). Hole FSDH033 is planned to test the area below the strong mineralization in FSDH030. The mineralized intervals shown above are within the current mineral resource.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY