EMERGING MARKETS-Latam FX weakens on global growth worries

MEXICO CITY/SAO PAULO, June 8 (Reuters) - Major Latin American currencies weakened on Wednesday as concerns about slowing U.S. growth and slim chances for further stimulus in the United States pushed investors to dump riskier assets.

Federal Reserve Chairman Ben Bernanke said late Tuesday the U.S. recovery remained fragile. Bernanke's comments followed a spate of economic data pointing to a slowdown in the world's biggest economy.

Cuba, China strengthen economic ties

Havana – Cuba and China signed in Havana 10 economic accords and memorandums of agreement in the areas of finance, oil, communications, information technology and other technical fields, in a move to strengthen bilateral relations.

The agreements were signed in the presence of Cuban head of state Raul Castro and visiting Chinese Vice President Xi Jinping.

Chile growth slows in April, small rate hike seen

SANTIAGO, June 6 (Reuters) - Growth in Chile's economy
slowed to 0.3 percent in April compared to March, the central
bank said on Monday, bolstering views that the bank will raise
its interest rate in June but at a slower pace.

The bank revised upward its IMACEC indicator of economic
activity to 0.6 percent in March against February, originally
reported as a 0.3 percent rise.

Brazil launches scheme to lift millions out of poverty

Brazil has launched a welfare scheme to lift millions out of extreme poverty by 2014, which President Dilma Rousseff calls her government's key priority.

The project aims to build on current programmes, which are credited with raising 20 million Brazilians out of poverty over the past decade.

Brazil’s Quickening First-Quarter Growth Challenges Effort to Cool Economy

Brazil’s economy gained speed in the first quarter, challenging President Dilma Rousseff’s efforts to cool growth and bring inflation to its target by next year.

Gross domestic product expanded 1.3 percent in the first quarter from the previous three-month period and 4.2 percent from a year earlier, the national statistics agency said today in Rio de Janeiro. Both figures matched the median forecasts of economists in a Bloomberg survey. Growth in the fourth quarter of 2010 from the previous three months was revised to 0.8 percent from 0.7 percent.

Brazil's Economic Boom Advances in First Quarter

RIO DE JANEIRO—Brazil's economy continued to expand at the start of 2011, fueled by record-low unemployment and higher wages that allowed families to boost spending.

Brazil's gross domestic product expanded 4.2% in the first quarter compared with the first quarter a year earlier, the Brazilian Census Bureau, or IBGE, said Friday. That was below the 4.5% median forecast made by eight economists polled by Dow Jones Newswires and down from year-on-year growth of 5% in the fourth quarter. But Brazil's economic boom actually gained steam in the first quarter, surging 1.3% compared with 0.8% growth in the fourth quarter, the IBGE said.

Latin America: The Quest for Talent

Some Latin American countries are now experiencing a “reverse” brain-drain.

BY JERRY HAAR
AND MARIA PRADILLA

In an increasingly competitive global environment, major firms know that talent recruitment and cultivation is an urgent challenge. Latin America is no exception. For example, Brazilian multinational firm Vale do Rio Doce has increasingly promoted people in their mid-30s to direct large projects, and it is ramping up its in-house training so those employees can qualify for the higher positions sooner. Thus, it is spending around $100 million with its global training programs in 2011, around 30 percent to 50 percent more than last year.