Petrobras, the public sector petroleum company of Brazil has developed this technology. It is starting in December 2009, commercialisation of this technology in a plant at Juiz de Fora in Minas Gerais state. Capacity of the plant is 45 MW. The turbines are made by GE.
Brazil is the first country to produce power from sugarcane ethanol. Brazil already leads the world in the use of ethanol as fuel for cars. Brazil is well prepared to straddle successfully both the worlds of fossil fuels ( having discovered enormous petroleum reserves) and the renewable sources of energy.
Monday, December 21, 2009
Thursday, December 17, 2009
Latin America will grow by 4.3 % in 2010
This good news comes from ECLAC ( Economic Commission for Latin America and Caribbean- which is part of the United Nations) in their 10 December 2009 report.
The GDP of the region which fell by 1.8% in 2009 due to the global crisis will resume growth in 2010 with 4.3 %. The region had an annual average growth of 4.8% in the period 2003-2008. In this period, the region enjoyed a current account surplus as well as primary surplus, accumulated foreign exchange reserves, reduced external debts, booming exports and strong macroeconomic fundamentals. This is the strength which helped the region to withstand the global crisis in 2008-9 with only moderate adverse impact and bounce back in 2010.
The 4.3% growth of Latin America in 2010 is higher than the growth projected for developing countries ( 4%) except China and India.
Brazil will be the 2010 champion of the region with the highest growth of 6%. Ooops... I do not recall Brazil topping the growth chart of the region in recent times. Uruguay and Peru will be runners-up with 5% each.
Mexico, the second largest economy which suffered the worst GDP contraction of the region in 2009 with 6.7% will grow by 3.5%. Argentina, the third largest market will grow by 4%.
It is no surprise that the least growth in 2010 in the region will be in Honduras, which is in a political crisis.
While South America is expected to grow by 4.7% in 2010, the Caribbean and Central America are projected to grow by around 2%.
Inflation in the region in 2009 is estimated to have declined to 4.5% from 8.3% in 2008.
The GDP of the region which fell by 1.8% in 2009 due to the global crisis will resume growth in 2010 with 4.3 %. The region had an annual average growth of 4.8% in the period 2003-2008. In this period, the region enjoyed a current account surplus as well as primary surplus, accumulated foreign exchange reserves, reduced external debts, booming exports and strong macroeconomic fundamentals. This is the strength which helped the region to withstand the global crisis in 2008-9 with only moderate adverse impact and bounce back in 2010.
The 4.3% growth of Latin America in 2010 is higher than the growth projected for developing countries ( 4%) except China and India.
Brazil will be the 2010 champion of the region with the highest growth of 6%. Ooops... I do not recall Brazil topping the growth chart of the region in recent times. Uruguay and Peru will be runners-up with 5% each.
Mexico, the second largest economy which suffered the worst GDP contraction of the region in 2009 with 6.7% will grow by 3.5%. Argentina, the third largest market will grow by 4%.
It is no surprise that the least growth in 2010 in the region will be in Honduras, which is in a political crisis.
While South America is expected to grow by 4.7% in 2010, the Caribbean and Central America are projected to grow by around 2%.
Inflation in the region in 2009 is estimated to have declined to 4.5% from 8.3% in 2008.
Peru gets third investment grade rating in December 2009
Peru clinched its third investment grade rating from Moodys, a major credit evaluation agency which has praised the country's ability to withstand the global downturn better than some of its peers. The new rating is Baa3 from the earlier Ba1
Moody´s said " the decision to raise Peru's foreign currency ratings was driven by indications of increased shock-absorption capacity relative to similar or higher-rated sovereigns.¨ This will help Peru to lower its borrowing costs and attract foreign investment flows, which will contribute to higher growth.
Fitch and Standard & Poor's had given investment grading to peru last year. Peru´s economy has been a shining star in the last few years.
Peru and Brazil are the other Latin American economies with investment grade ratings.
Chile is becoming a OECD member in January 2010
The Organisation for Cooperation and Development (OECD) has announced that Chile has been invited to become the 31st member of the Organization. Chile will formally accept this invitation when an Accession Agreement is signed in the presence of Secretary-General Angel Gurría and President Bachelet on January 11, 2010. The country has been in negotiations to join the organization for two years. This eans that Chile´s investment and tax policies will have to be in conformity with OECD standards.
Currently, Mexico is the only Latin American member of the organization.
Currently, Mexico is the only Latin American member of the organization.
Saturday, December 05, 2009
short skirts and Big B arouse global interest in Brazil
A quick clarification before the reader lets his imagination fly….
B....stands for Business.
Last month, Geisy Arruda (seen below), a 20-year old student of Bandeirantes University in Rio de Janeiro aroused global media attention with her short skirt.
The Brazilians say that a ¨speech should be like a miniskirt…short enough to arouse interest and just long enough to cover the area of interest.¨
Brazil has always aroused the interest of the outsiders with tiny bikinis and mammoth carnival, sexy Samba and lusty Lambada, balmy Bossanova and fantastic football, amazing Amazon and bewitching beaches of Copacabana and Ipanema.
But now the country has started attracting a new kind of attention from global business leaders who find it as irresistible. Here is an example. Petrobras, the state oil company of Brazil plans to invest 174 billion dollars in the period 2009-13 in exploration and production of the recently discovered offshore oil fields. This is the world´s largest corporate investment plan at this moment. Obviously this news is sheer excitement for companies from around the world.
Which city in the world has the world´s largest fleet of private jets and helicopters? Not Newyork nor Tokyo. It is Sao Paulo. Tiffany and Bulgari have more stores in Sao Paulo than in any other city in the world. Sao Paulo has the largest Ferrari sales and the second largest sales of Lombarghini and Porsche in the world.
Brazil´s riches go beyond the salons of Sao Paulo. Brazil is becoming a global player and provider of energy and food to the world which is getting increasingly concerned with energy and food security and climate change.
Brazil is well positioned in both the sectors of fossil fuels and renewable energy. It has recently discovered very large offshore oilfields which will make it as a significant oil exporter. Brazil is the global leader and pioneer in the use of fuel ethanol for automobiles. Today more than ninety percent of the cars produced in Brazil have flexifuel engines running in petrol or ethanol or any combination of the two. Embraer has even produced some aircrafts running in ethanol. Eighty percent of the electricity generated in Brazil comes from hydroelectric source. The 12,000 MW Itaipu hydroelectric station is one of the largest in the world. Brazil has the highest share of renewable energy in power generation, among the large economies.
The Amazon forest of Brazil contributes twenty percent of earth´s oxygen and has become the Lungs of our planet. Brazil is also blessed with twenty percent of the fresh water supply of the world.
Brazil has the largest surplus land availble for agriculture. It is using currently 52 million hectares for crops. It can increase agricultural land by another 100 million hectares, without touching Amazon or the sensitivity of environmentalists. Besides the land under crops, Brazil has 172 million hectares under pasture for cattle. Brazilian agriculture is big business with its huge farm sizes which lend themselves to large scale commercial farming using heavy machineries, investment and innovation. Most cultivation is rainfed and don’t need irrigation canals or borewells as is the case in India. Brazilian productivity is one of the highest in the in the world thanks to the fertile soil, scientific and commercial farming practices and constant innovation and research and development. Brazil is the world´s largest exporter of beef, chicken, sugar, soya, orange juice and coffee.
Brazil is also rich in mineral resources. Vale, the Brazilian company is among the top global mineral players.
With such rich natural resources, Brazil was considered as a country of the future. But the joke in the past was that it would always remain as a country of the future. Now, the Brazilians have woken up. They are convinced that their time has come. They are determined to unlock their potential. There is a paradigm shift in the mindset of Brazilians. There is a new confidence, optimism and vision among the political and business leaders.
The Brazilians have liberated the country decisively and irreversibly from the past curses of hyper inflation, excessive external debt and unstable currency and exchange rates. They have made macroeconomic fundamentals as strong, healthy and predictable. They have even started lending money to IMF !. The government policies are based on a broad consensus. The government has found an equilibrium between pro-poor and pro-business policies. There is no ideological polarisation nor extremist political parties. Whoever wins the next presidential elections in October 2010 after Lula, the country is not going to change its pragmatic direction. Brazil is now the role model for Latin America where there is a resurgence of Left in recent years.
It is therefore, not surprising that Brazil is part of the BRIC which is increasing its weight in the global balance. But Brazil has some distinct advantages in comparison to the other three BRIC countries. It has one language and one faith and does not face any ethnic, religious, linguistic conflicts , terrorism or troublesome neighbours. Although Brazil has got more people of African origin (70 milion) than USA, there are no hyphenated Brazilians as the Afro Americans in the US. Brazil is a true melting pot, a perfect blend of café com leite… coffee with milk ( black and blonde), as the Brazilians describe skin colour. Brazil has borders with ten countries but it does not have any border disputes. On the other hand Brazil has been enthusiastically taking initiatives for integration of the region through Mercosur and Unasur (south american union, with all the 12 countries of the region) and makes use of this collective strength for its regional leadership.
Sure… Brazil faces other kind of problems such as poverty, crime, drugs and arms. But these can be controlled internally since there are no external trouble makers.
It is this new profile of Brazil which has aroused the interest of the global political and business leaders who have started courting Brazil seriously. The thirty percent increase in FDI in Brazil in 2009 is a reflection of the new confidence of global business in Brazil. The award of the World Cup 2014 and Olympics in 2016 are stamps of recognition of the New Brazil.
Realising the growing importance of Brazil, the Government of India has established a bilateral strategic partnership and a trilateral alliance in the form of IBSA. India has been working closely with Brazil in the Doha Round and in the issue of expansion of the permanent membership of the UN Security Council. India´s bilateral trade with Brazil reached 5 billion dollars in 2008 and is set to increase rapidly in the coming years. Indian companies have invested in Brazil in sectors such as IT, pharmaceuticals, energy, agribusiness and engineering. Even Bollywood has been attracted by the carnival land. The film Dhoom II was shot in Rio.
India has become a household experience in the last one year because of the prime time soap opera Camino das Indias ( route to India), telecast Monday to Saturday in the popular Brazilian TV channel Globo. This Indian story with Indian costumes and customs with Brazilian actors has generated tremendous interest in India. Camino in Portuguese means route or way. Brazil was discovered accidentally by Pedro Alvares Cabral who wanted to find the route to India. Now the Indians and Brazilians have found their own and common routes to a new promising future.
B....stands for Business.
Last month, Geisy Arruda (seen below), a 20-year old student of Bandeirantes University in Rio de Janeiro aroused global media attention with her short skirt.
The Brazilians say that a ¨speech should be like a miniskirt…short enough to arouse interest and just long enough to cover the area of interest.¨
Brazil has always aroused the interest of the outsiders with tiny bikinis and mammoth carnival, sexy Samba and lusty Lambada, balmy Bossanova and fantastic football, amazing Amazon and bewitching beaches of Copacabana and Ipanema.
But now the country has started attracting a new kind of attention from global business leaders who find it as irresistible. Here is an example. Petrobras, the state oil company of Brazil plans to invest 174 billion dollars in the period 2009-13 in exploration and production of the recently discovered offshore oil fields. This is the world´s largest corporate investment plan at this moment. Obviously this news is sheer excitement for companies from around the world.
Which city in the world has the world´s largest fleet of private jets and helicopters? Not Newyork nor Tokyo. It is Sao Paulo. Tiffany and Bulgari have more stores in Sao Paulo than in any other city in the world. Sao Paulo has the largest Ferrari sales and the second largest sales of Lombarghini and Porsche in the world.
Brazil´s riches go beyond the salons of Sao Paulo. Brazil is becoming a global player and provider of energy and food to the world which is getting increasingly concerned with energy and food security and climate change.
Brazil is well positioned in both the sectors of fossil fuels and renewable energy. It has recently discovered very large offshore oilfields which will make it as a significant oil exporter. Brazil is the global leader and pioneer in the use of fuel ethanol for automobiles. Today more than ninety percent of the cars produced in Brazil have flexifuel engines running in petrol or ethanol or any combination of the two. Embraer has even produced some aircrafts running in ethanol. Eighty percent of the electricity generated in Brazil comes from hydroelectric source. The 12,000 MW Itaipu hydroelectric station is one of the largest in the world. Brazil has the highest share of renewable energy in power generation, among the large economies.
The Amazon forest of Brazil contributes twenty percent of earth´s oxygen and has become the Lungs of our planet. Brazil is also blessed with twenty percent of the fresh water supply of the world.
Brazil has the largest surplus land availble for agriculture. It is using currently 52 million hectares for crops. It can increase agricultural land by another 100 million hectares, without touching Amazon or the sensitivity of environmentalists. Besides the land under crops, Brazil has 172 million hectares under pasture for cattle. Brazilian agriculture is big business with its huge farm sizes which lend themselves to large scale commercial farming using heavy machineries, investment and innovation. Most cultivation is rainfed and don’t need irrigation canals or borewells as is the case in India. Brazilian productivity is one of the highest in the in the world thanks to the fertile soil, scientific and commercial farming practices and constant innovation and research and development. Brazil is the world´s largest exporter of beef, chicken, sugar, soya, orange juice and coffee.
Brazil is also rich in mineral resources. Vale, the Brazilian company is among the top global mineral players.
With such rich natural resources, Brazil was considered as a country of the future. But the joke in the past was that it would always remain as a country of the future. Now, the Brazilians have woken up. They are convinced that their time has come. They are determined to unlock their potential. There is a paradigm shift in the mindset of Brazilians. There is a new confidence, optimism and vision among the political and business leaders.
The Brazilians have liberated the country decisively and irreversibly from the past curses of hyper inflation, excessive external debt and unstable currency and exchange rates. They have made macroeconomic fundamentals as strong, healthy and predictable. They have even started lending money to IMF !. The government policies are based on a broad consensus. The government has found an equilibrium between pro-poor and pro-business policies. There is no ideological polarisation nor extremist political parties. Whoever wins the next presidential elections in October 2010 after Lula, the country is not going to change its pragmatic direction. Brazil is now the role model for Latin America where there is a resurgence of Left in recent years.
It is therefore, not surprising that Brazil is part of the BRIC which is increasing its weight in the global balance. But Brazil has some distinct advantages in comparison to the other three BRIC countries. It has one language and one faith and does not face any ethnic, religious, linguistic conflicts , terrorism or troublesome neighbours. Although Brazil has got more people of African origin (70 milion) than USA, there are no hyphenated Brazilians as the Afro Americans in the US. Brazil is a true melting pot, a perfect blend of café com leite… coffee with milk ( black and blonde), as the Brazilians describe skin colour. Brazil has borders with ten countries but it does not have any border disputes. On the other hand Brazil has been enthusiastically taking initiatives for integration of the region through Mercosur and Unasur (south american union, with all the 12 countries of the region) and makes use of this collective strength for its regional leadership.
Sure… Brazil faces other kind of problems such as poverty, crime, drugs and arms. But these can be controlled internally since there are no external trouble makers.
It is this new profile of Brazil which has aroused the interest of the global political and business leaders who have started courting Brazil seriously. The thirty percent increase in FDI in Brazil in 2009 is a reflection of the new confidence of global business in Brazil. The award of the World Cup 2014 and Olympics in 2016 are stamps of recognition of the New Brazil.
Realising the growing importance of Brazil, the Government of India has established a bilateral strategic partnership and a trilateral alliance in the form of IBSA. India has been working closely with Brazil in the Doha Round and in the issue of expansion of the permanent membership of the UN Security Council. India´s bilateral trade with Brazil reached 5 billion dollars in 2008 and is set to increase rapidly in the coming years. Indian companies have invested in Brazil in sectors such as IT, pharmaceuticals, energy, agribusiness and engineering. Even Bollywood has been attracted by the carnival land. The film Dhoom II was shot in Rio.
India has become a household experience in the last one year because of the prime time soap opera Camino das Indias ( route to India), telecast Monday to Saturday in the popular Brazilian TV channel Globo. This Indian story with Indian costumes and customs with Brazilian actors has generated tremendous interest in India. Camino in Portuguese means route or way. Brazil was discovered accidentally by Pedro Alvares Cabral who wanted to find the route to India. Now the Indians and Brazilians have found their own and common routes to a new promising future.
Wednesday, November 25, 2009
Bharat Petroleum and Videocon consortium strike offshore oil in Brazil - November 2009
The consortium has discovered additional oil in an exploration acreage in the Campos basin, off the Brazilian coast. The discovery is more than 90 feet of high-quality oil in their Wahoo-2 well block, also identified as BM-C-30, The well is five miles to the north from the original Wahoo discovery well. In October 2008, the consortium had made its first discovery in the block during drilling of Wahoo well.
The original cost of acquisition of the ten offshore blocks was 280 million dollars.
ONGC Videsh Limited ( OVL) of India has invested almost a billion dollars in the acquisition of offshore blocks in Brazil
Thursday, November 12, 2009
Renuka Sugars of India acquires Brazilian firm for US$ 240 million in November 2009
Shree Renuka Sugars Ltd (SRSL), one of the largest Indian producers , has acquired Brazil’s Vale Do Ivaí SA Açúcar e Álcool (VDI) at an enterprise value of $240 million.
SRSL will pay $82 million now and the balance over eight years. It plans to finance the acquisition by leveraging the $105 million it raised through a qualified institutional placement (QIP) of shares in July.
The company operates eight sugar mills, five owned and three leased, with a cumulative daily crushing capacity of 35,000 tonnes.
The acquisition of VDI includes two sugar and ethanol production facilities in the southern Brazilian state of Parana, with a combined cane crushing capacity of 3.1 million tonnes a year. VDI holds strategic stakes in several logistics assets, including terminals for storage and loading of sugar and ethanol at the port of Paranagua.
The acquisition also includes 18,000 hectares of cultivable land under VDI, through which the company meets the larger part of its sugarcane requirements. The land is on long-term lease and used to cultivate cane with an average yield of 95 tonnes a hectare, with recovery of 13 per cent. In India, the yield (around 60-65 tonnes per hectare) and the recovery (a maximum of 11.5 per cent) are lower.
More Indian companies are planning to enter the Brazilian sugar sector
Sunday, October 25, 2009
Argentine President´s Visit to India 14-15 october- outcome for Indian business
Liberalisation of Argentine Visa
Under the visa Agreement signed on 14 october during the visit of President of Argentina to Delhi, the Argentine government has agreed to grant five year multientry business visas to Indian visitors....and that too free of cost. Stay during each visit is 90 days extendable by another ninety days. Fantastic... Let us thank the President and the Foreign Ministry of Argentina. The embassy of India in Buenos Aires will do the same thing for Argentine business visitors ...plus give free coffee under their Cafe con Visa system
Trade target of 3 billion dolars for 2012
The two governments have set 3 billion dollars as the target. The exports of India should double to one billion dollars from 492 million in 2008 and Argentine exports to reach 2 billion by 2012 from 836 million in 2008.
Under the visa Agreement signed on 14 october during the visit of President of Argentina to Delhi, the Argentine government has agreed to grant five year multientry business visas to Indian visitors....and that too free of cost. Stay during each visit is 90 days extendable by another ninety days. Fantastic... Let us thank the President and the Foreign Ministry of Argentina. The embassy of India in Buenos Aires will do the same thing for Argentine business visitors ...plus give free coffee under their Cafe con Visa system
Trade target of 3 billion dolars for 2012
The two governments have set 3 billion dollars as the target. The exports of India should double to one billion dollars from 492 million in 2008 and Argentine exports to reach 2 billion by 2012 from 836 million in 2008.
Invitation to invest in Argentina
The Argentine President in her adddress at the busines seminars and meetings in Delhi and Mumbai invited Indian cos to invest in Argentina. She spoke of the new paradigm of stability and growth of the economy, availability of natural resources and creative human resources of Argentina.
She had a meeting with Rattan Tata in Mumbai and in this meeting also the discussion focussed on investment in Argentina.
Joint Ventures
During the business seminar in Delhi, Ashok Leyland signed a JV with TBA of Argentina for making buses and trucks.
Sonali Tractors of India signed agreement with Apache of Argentina for collaboration in assembling agro machinery in India.
Pharma issue
This was taken up strongly by the Prime Minister of India himself with the Argentine President that India should be included in the list of 26 countries from which Argentina allows imports of pharmaceuticals. This is mentioned in the joint statement too.
Wednesday, October 07, 2009
Inflation in Latin America
Inflation used to be a curse in Latin America. Many countires of the region have suffered Hyperinflation in four digits and three digits. The joke in those days was that one could never tell the exact figure of Latin American inflation and Indian population. By the time one finishes the sentence, both would have gone up !
The governments of the region have tamed it decisively in the last decade. The average inflation of the region has remained in single digit in this decade.
The projection of average inflation in 2009 is 6.1% and in 2010 it is 5.2%, by Latin Business Chronicle and IMF. In an act of extraordinary courage they have even projected the inflation for the period 2010-14 as 5. 2%. This is remarkable. This is the twenty first century Latin America, which I call as the New Latin America, in which things have become predictable. No one would have dared to do such a five year projection even as lates as 1989, when the Argentine inflation was over 3000 percent.
There are , of course, exceptions to the single digit inflationary trend in the region. Venezuela is on the top with the highest inflation in the region with 29.5%. It is expected to increase to 30% in 2010 and more to 32.4% in 2010-14.
Argentina has the second highest inflation with 20%. Costa Rica is third with 8.4%.
Brazil is little over 4 percent in the next five years.
Mexico´s inflation of 5.4% this year is projected to go towards 3 percent in the coming years.
Colombia´s inflation of 4.6% this year is expected to decline to slightly over 3% in the next five years.
Besides inflation, the Latin American governments have also brought under control external debt and exchange rates which have also become predictable.
The governments of the region have tamed it decisively in the last decade. The average inflation of the region has remained in single digit in this decade.
The projection of average inflation in 2009 is 6.1% and in 2010 it is 5.2%, by Latin Business Chronicle and IMF. In an act of extraordinary courage they have even projected the inflation for the period 2010-14 as 5. 2%. This is remarkable. This is the twenty first century Latin America, which I call as the New Latin America, in which things have become predictable. No one would have dared to do such a five year projection even as lates as 1989, when the Argentine inflation was over 3000 percent.
There are , of course, exceptions to the single digit inflationary trend in the region. Venezuela is on the top with the highest inflation in the region with 29.5%. It is expected to increase to 30% in 2010 and more to 32.4% in 2010-14.
Argentina has the second highest inflation with 20%. Costa Rica is third with 8.4%.
Brazil is little over 4 percent in the next five years.
Mexico´s inflation of 5.4% this year is projected to go towards 3 percent in the coming years.
Colombia´s inflation of 4.6% this year is expected to decline to slightly over 3% in the next five years.
Besides inflation, the Latin American governments have also brought under control external debt and exchange rates which have also become predictable.
Wednesday, September 30, 2009
Gaturro - Cartoon film - Argentine humour with Indian technology
Gaturro is the product of Argentine humour and imagination combined with Indian ingenuity and technology. It is a 90 minute 3D animated cartoon film.
Gaturro is a popular comic character created by the famous Argentine cartoonist Christian Dzwonik (Nik ). He has used Gaturro to make jokes on Argentine politics, society and everyday life. Gaturro is an ingenious cat, with interesting and funny perspectives of the world and the Argentine political situation. Gaturro is presented as an antihero, observer of the world and eternally in unrequited love with Agatha, the female cat character. Some say that Gaturro is like a typical Argentine macho.... lot of show and lot more madness !! There are more than 30 Gaturro books. They have become popular not only in Latin America but even in France, Norway and Spain. Gaturro has its own website http://www.gaturro.com/
Here is the 39 year-old Nik
Gaturro is a popular comic character created by the famous Argentine cartoonist Christian Dzwonik (Nik ). He has used Gaturro to make jokes on Argentine politics, society and everyday life. Gaturro is an ingenious cat, with interesting and funny perspectives of the world and the Argentine political situation. Gaturro is presented as an antihero, observer of the world and eternally in unrequited love with Agatha, the female cat character. Some say that Gaturro is like a typical Argentine macho.... lot of show and lot more madness !! There are more than 30 Gaturro books. They have become popular not only in Latin America but even in France, Norway and Spain. Gaturro has its own website http://www.gaturro.com/
Here is the 39 year-old Nik
Here is a sample of Gaturro cartoon, in which the change of his mood from Tuesday to Monday is depicted. Monday at the end is the dead day !!
Illusion Studios of Argentina are coproducing this six million dollar film in collaboration with Toonz Animation of India. They signed the coproduction agreement in May 2009. The production has already started and the movie will be released in 2010. Jose Luis Massa CEO of Illusion Studios, the two-year old firm of Buenos Aires , is excited like Gaturro with the Indian collaboration. It has ambitious plans to be a major player in Latin America
http://www.illusionstudios.com/
For Jayakumar, CEO of Toonz Animation, Trivandrum-based company, this is the first joint venture with Latin America. Toonz Animation is an established global player and has a staff of over 500.
More http://www.toonzanimationindia.com/
I am sure Gaturro is going to inspire more such joint ventures between the Argentine talents and Indian technology. The Argentine human resources are very creative, imaginative and inventive. This is the assessment of the seven Indian IT companies which employ 800 Argentine staff in Buenos Aires. The city of Buenos Aires inspires imagination with its the largest number of theatres, music concerts, literary and cultural activities in Latin America. The Colon Theatre of Buenos Aires is one of the best in the world.
Here is Gaturro, the showman..
Illusion Studios of Argentina are coproducing this six million dollar film in collaboration with Toonz Animation of India. They signed the coproduction agreement in May 2009. The production has already started and the movie will be released in 2010. Jose Luis Massa CEO of Illusion Studios, the two-year old firm of Buenos Aires , is excited like Gaturro with the Indian collaboration. It has ambitious plans to be a major player in Latin America
http://www.illusionstudios.com/
For Jayakumar, CEO of Toonz Animation, Trivandrum-based company, this is the first joint venture with Latin America. Toonz Animation is an established global player and has a staff of over 500.
More http://www.toonzanimationindia.com/
I am sure Gaturro is going to inspire more such joint ventures between the Argentine talents and Indian technology. The Argentine human resources are very creative, imaginative and inventive. This is the assessment of the seven Indian IT companies which employ 800 Argentine staff in Buenos Aires. The city of Buenos Aires inspires imagination with its the largest number of theatres, music concerts, literary and cultural activities in Latin America. The Colon Theatre of Buenos Aires is one of the best in the world.
I hope Nik will start a new series of Gaturro going to India in search of a Bollywood actress......
Monday, September 21, 2009
Mexican company invests in Indian cinema halls
Mexican cinema chain Cinépolis will invest 160 million dollars in south India for setting up multiplexes across the four states. This will make India the country with their largest market outside Mexico. They will open around 500 screens, 50 per cent of which will be in the southern cities, in the next seven years and for every screen, they will be spending around $700,000.” Most of the funds would go in rentals and in developing screens. The amount would be funded through internal accruals. Cinépolis is in talks with 200 mall developers and had signed up for around 110 screens in eight cities, of which 62 per cent are in the south. It would commence operations by the second half of 2009. Its first screen is scheduled to be launched in November at Amristar. The company, the fifth largest theatre chain in the world, is aiming to move up to the fourth slot. It operates more than 2,000 screens in six countries.
Monday, August 03, 2009
Brazil ...out of the crisis induced by global meltdown
According to a cover story in Exame magazine (one of Brazil´s main business publications) Brazil is getting out of the crisis. Various key indicators confirm that economic activity and job creation have already undertaken a recovery process.
While in the United States General Motors is facing all kinds of problems, and selling part of their European assets, in Brazil a R$ 2 billion investment plan is in place to expand production. The Brazilian auto industry expects to sell 3 million units in 2009, a historic record in a year in which everyone expected the worst.
A recessionary scenario was looming in the last 6 months, with reduction of the GDP, absence of credit, lack of confidence, production interruption and slowing of sales. This reality is now only seen in the rearview mirror. Brazil is, in fact, experiencing the next phase: recovery and growth.
Employment is also entering a considerable recovery process, after predictions pictured a dark. 300,000 new jobs were created on the first 6 months of 2009, in the economy as a whole. In the end of last year 800,000 jobs were lost in the country, but in 2009 a positive balance of 600,000 is expected.
It is interesting to note that a country that has always been hit hard by the world´s economic turmoils, this time is keeping its head out of the water based mostly on internal demand. In the survey conducted by the magazine, most businessmen have expressed optimism about growth.
While in the United States General Motors is facing all kinds of problems, and selling part of their European assets, in Brazil a R$ 2 billion investment plan is in place to expand production. The Brazilian auto industry expects to sell 3 million units in 2009, a historic record in a year in which everyone expected the worst.
A recessionary scenario was looming in the last 6 months, with reduction of the GDP, absence of credit, lack of confidence, production interruption and slowing of sales. This reality is now only seen in the rearview mirror. Brazil is, in fact, experiencing the next phase: recovery and growth.
Employment is also entering a considerable recovery process, after predictions pictured a dark. 300,000 new jobs were created on the first 6 months of 2009, in the economy as a whole. In the end of last year 800,000 jobs were lost in the country, but in 2009 a positive balance of 600,000 is expected.
It is interesting to note that a country that has always been hit hard by the world´s economic turmoils, this time is keeping its head out of the water based mostly on internal demand. In the survey conducted by the magazine, most businessmen have expressed optimism about growth.
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