* Argentina's economy shrank 0.3% in the second quarter from the previous three-month period on a seasonally adjusted basis, preliminary data from statistics agency Indec showed. However, second-quarter GDP grew 0.6% from a year earlier, following four consecutive quarters of contraction.
* Costa Rica's central bank cut its monetary policy rate by 25 basis points to 3.75%, citing price stability at home and a worsening global outlook due to trade tensions between the U.S. and China. Inflation in the year ending in August was 2.86%, unchanged from a month earlier.
MEXICO AND CENTRAL AMERICA
* Panama-based Mercantil Servicios Financieros Internacional SA, a unit of Venezuela's Mercantil Servicios Financieros CA, said it would postpone a secondary issue of shares on Panama's stock exchange, where it has been listed since Sept. 9, El Capital Financiero reported, citing a securities filing. Venezuela's securities supervisor reportedly asked for the issuance to be suspended temporarily while it decided whether it needed to approve the operation.
BRAZIL
* Brazil's Cade competition watchdog has approved without restriction Allianz Seguros SA's previously announced purchase of automobile, property and other operations from Sul América SA, O Estado de S. Paulo reported, citing a resolution in the official gazette.
* Caixa Seguridade Participações SA and CNP Assurances SA reached a partnership agreement that will grant Caixa Econômica Federal exclusive distribution of CNP insurance products throughout its branch network. CNP will pay 7 billion reais upfront to Caixa in exchange for a 40% stake in a joint venture that will reportedly start in 2021. Caixa will own the remaining 60% stake in the JV.
* Banco Pan SA priced its preferred shares at 8.25 reais each, generating around 1 billion reais in a follow-on share offering on Sept. 19, three sources with knowledge of the matter told Reuters. The proceeds were split equally between Banco Pan and shareholder Caixa Economica Federal, the sources said.
* Belo Horizonte-based insurer Pottencial Seguradora SA has bought Cardif do Brasil Seguros e Garantias SA's individual tenant surety portfolio for an undisclosed sum, Valor Econômico reported. Cardif is part of France's BNP Paribas SA.
* The Brazilian government will announce a move to free up 12.5 billion reais for discretionary spending today, a source from the country's economy ministry told Reuters. The funds should help ease strain on departmental budgets caused by spending freezes of 34 billion reais in 2019.
ANDEAN
* About 10% of Colombians are expected to be online banking users by 2020 as internet use reaches an estimated 62%, Portafolio reported, citing research by BBVA Colombia. According to the data, 3.5 million people already used mobile banking platforms.
* Banco Internacional del Perú SAA launched a cash tender offer for all of its outstanding 5.750% senior notes due 2020, the bank said. There are currently around $386.8 million in aggregate principal amount of the notes outstanding. The offer's early tender deadline is Oct. 2, while the expiration date is Oct. 17.
SOUTHERN CONE
* Argentina's central bank eased currency controls for homebuyers following demands from the real estate industry, Clarín reported. Homebuyers who have mortgages granted will be allowed to buy dollars for a value of up to $100,000. Most Argentines pay for houses in U.S. currency and real estate transactions have been deadlocked since the government imposed controls on dollar purchases early in September.
* Argentina's government sent a bill to Congress to seek approval for previously announced plans to extend maturities on dollar-denominated bonds issued under local law, Clarín reported. The bill includes the addition of a collective action clause, which would help the government block future legal challenges from any bondholders that rejected the restructuring offer.
* Argentine payment processor Prisma Medios de Pago SA has appointed Yaëlle Boquet as CFO, El Cronista reported. Boquet most recently served as CFO at the Argentine unit of French supermarket chain Carrefour.
* Chilean inflation will probably remain stable at 0.3% in September, with an uptick to 0.5% seen in October, La Tercera reported, citing economists and market analysts. Some added that a recent increase in global oil prices could see full-year inflation of close to 3.0%.
PAN LATIN AMERICA
* The Organisation for Economic Co-operation and Development lowered its global growth forecast for 2019 to 2.9% from 3.2% while cutting its 2020 projection to 3.0% from 3.4%. "Continued and deepening trade policy tensions are taking an increasing toll on confidence and investment, adding to policy uncertainty, and weighing on risk sentiment in financial markets," the OECD said.
IN OTHER PARTS OF THE WORLD
* Asia-Pacific: MUFG to cut HK, Singapore staff in half; key rate decisions across Asia
* Middle East & Africa: Qatar cuts rate; Lebanese bank self-liquidates; Attijariwafa Bank H1 profit up
Helen Popper 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.
