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Itaú names 2 directors to XP; Peru opposition leader arrested

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Itaú names 2 directors to XP; Peru opposition leader arrested

* Itaú Unibanco Holding SA appointed Robero Setubal and João Moreira Salles as representatives of the Brazilian bank on the board of directors of XP Investimentos SA after the purchase of 49.9% of the platform's capital, Valor Econômico reported. Itaú's representatives will also have veto power in strategic matters of the company.

* Peruvian authorities arrested opposition leader Keiko Fujimori and 19 other individuals on charges that members of her Popular Force party received illegal campaign financing from Brazilian construction firm Odebrecht, Reuters reported.

MEXICO AND CENTRAL AMERICA

* Ex-Guatemalan Vice President Roxana Baldetti was sentenced to 15 and a half years in prison on multiple charges of fraud, influence peddling and corruption, Reuters reported.

* Mexican President-elect Andres Manuel Lopez Obrador, who is set to take office in December, dismissed any speculations about ill health and said he is "totally healthy" five years after he suffered a heart attack, Reuters reported.

* Banco de México, the country's central bank, is likely to increase its key rate in its next monthly meeting in November amid continuous price hikes, Reuters reported, citing Eikon Refinitiv data. The monetary authority maintained its benchmark rate at 7.75% in its latest rate decision this month.

* Fitch Ratings raised the long-term national scale rating of Mexican bank CIBanco SA Institución de Banca Múltiple to "A(mex)" from "A-(mex)" and short-term national scale rating to "F1(mex)" from "F2 (mex)," with a stable outlook on the long-term rating. The rating agency said the bank showed "consistent progress in the development of its franchise within the segments in which it operates."

BRAZIL

* Brazil's federal prosecutors are investigating Paulo Guedes, the main economic adviser to Brazilian presidential candidate Jair Bolsonaro, for his alleged involvement in fraud in several state-owned pension funds. Guedes, who likely would serve as finance minister should Bolsonaro win the presidency, allegedly siphoned 1 billion reais from the state-owned entities in a span of six years, Folha de S.Paulo reported.

* A Datafolha survey of 3,235 individuals gave Brazilian presidential candidate Jair Bolsonaro 58% of voter intentions for a second round of elections, while Fernando Haddad received 42%, Reuters reported.

* The bank of XP Investimentos SA will begin operations at the start of 2019, Valor Econômico reported, citing a statement by the company's president, Guilherme Benchimol. The entity intends to issue certificates of deposit at the beginning of next year to raise funds. Brazil's central bank has yet to approve XP's bank operations.

* Grupo Enforce, a credit recovery company of Banco BTG Pactual SA, acquired a loan portfolio from the failed Banco BVA SA at auction for 70 million reais, Valor Econômico reported. Enforce presented the only proposal for a portfolio valued at 550 million reais.

ANDEAN

* Banco Pichincha del Perú issued corporate bonds in the private market for a total value of about $7.19 million and a term of three years.

* Grupo de Inversiones Suramericana SA has invested $30 million in 11 start-ups across Colombia, Canada and the United States in the past two years through its Sura Ventures program, La República reported. The company is also reportedly open to exploring other markets.

SOUTHERN CONE

* Julio De Vido, who served as planning minister under former Argentine president Cristina Fernandez, was sentenced to five years and eight months in prison for stealing money from public works projects, Reuters reported.

* Chilean Finance Minister Felipe Larraín said that the decision of Banco Santander Chile to break the contract with card payment processor Transbank SA "results in greater competition" in the sector, La Tercera reported. The contract between Santander Chile and Transbank is set to expire next year.

* Analysts at Moody's and DBRS pointed to Uruguay's fiscal deficit as the "key challenge" to maintain the country's credit rating, after Fitch changed the outlook on Uruguay to "stable" from "negative" recently, El País reported. The Uruguayan public deficit is now 3.9%, but the goal is to lower it to 2.9% by the end of 2019.

PAN LATIN AMERICA

* The International Monetary Fund called on governments to better manage state assets by looking at their entire balance sheets to boost their revenues and improve their ability to withstand recessions, rather than focusing on borrowing and debt, which can lead to poor outcomes, the Financial Times reported.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: China issues anti-money laundering rules; Merrill Lynch Japan behind TSE glitch

* Middle East & Africa: QNB Q3 profit up YOY; Moody's revises outlook on Egypt's banking system

* Europe: Brexit deal 'within reach'; Natixis eyes Ingenico; Tryg Q3 profit dips YOY

Pablo Jiménez Arandia contributed to this article.

The Daily Dose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.