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B3 wants local listing for XP; Colombia OKs payment to Ruta del Sol creditors

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B3 wants local listing for XP; Colombia OKs payment to Ruta del Sol creditors

* B3 SA - Brasil Bolsa Balcão CEO Gilson Finkelsztain said the stock exchange operator is working with regulators to ease rules related to initial public offerings in an attempt to encourage more Brazilian companies to list locally, Bloomberg News reported. "We are going to do everything for [XP Investimentos SA] to list itself here in Brazil and not in New York; our commercial team and myself personally are going to fight for that," he said.

* Colombia's government has authorized the payment of 627 billion Colombian pesos to creditor banks that helped finance the Ruta del Sol II highway project, which ran into trouble when Brazilian construction firm Odebrecht became embroiled in a corruption scandal, El Tiempo reported. The banks are still owed 1.24 trillion pesos linked to the project.

MEXICO AND CENTRAL AMERICA

* Carlos Martínez Velázquez, the general director of Mexican state mortgage lender Instituto del Fondo Nacional de la Vivienda para los Trabajadores, said he has ordered an internal audit of foreclosure proceedings that resulted in several people losing their homes, El Economista reported. The executive has also suspended the bank's auctions of repossessed houses.

BRAZIL

* A Brazilian business court maintained an injunction on BTG Pactual Digital, the investment platform of BTG Pactual Group, that prevents it from approaching autonomous investment agents associated with brokerage firm XP Investimentos SA, Valor Econômico reported. The injunction relates to a lawsuit XP filed against BTG, accusing the bank of breaking a two-year confidentiality agreement signed when BTG was hired as an underwriter for XP's planned IPO in December 2016.

* Banco Santander (Brasil) SA executive Roberto Campos Neto will serve as an adviser to finance minister Paulo Guedes while his nomination to lead Banco Central do Brasil awaits Senate approval, the Brazilian government confirmed.

* Inflation in Brazil hit 3.75% in 2018, below the middle of the central bank's target range of between 3% and 6% for the year, according to government statistics agency IBGE. A slow economic recovery, the decline in fuel prices and lower food prices contributed to last year's inflation results, IBGE said.

* Outgoing Brazilian central bank chief Ilan Goldfajn said the new government of President Jair Bolsonaro must continue with economic reforms to keep inflation under control, Bloomberg News reported. Goldfajn expects Brazil's economy to grow 2.5% in 2019.

* Brazilian President Jair Bolsonaro vetoed a bill that defined the circumstances in which shopkeepers could refuse checks as a means of payment, Diário Comércio Indústria & Serviços reported. According to the president, the legislation could hinder plans to establish a credit record database.

* Banco Bradesco SA said it is restructuring its management team by reducing the number of vice presidents to four from six, Valor Econômico reported. Vice Presidents Maurício Minas and Josué Pancini, responsible for technology and operations, and service network respectively, will now only serve on the bank's board of directors.

* Brazilian President Jair Bolsonaro signed a law prohibiting credit institutions from tapping public funds or resources from the FGTS workers' severance fund to finance or provide any other benefit to companies that are already in debt with the FGTS, Valor Econômico reported.

* Bankruptcy filings in Brazil fell 16.0% in 2018 compared to the previous year, Diário Comércio Indústria & Serviços reported, citing credit research firm Boa Vista. The result marks the second consecutive year of declining bankruptcy filings in the country.

ANDEAN

* Banco Bilbao Vizcaya Argentaria Colombia SA has joined Colombia Fintech, an association representing financial technology firms in Colombia, La República reported.

SOUTHERN CONE

* Chilean financial company Doble Impacto is planning to launch the country's first ethical bank in 2022, Director Sebastián Cantuarias told TV Pulso. The ethical bank will initially finance companies only before it starts to offer a full range of banking services five years later.

* Argentine Finance Secretary Santiago Bausili said investors are placing an unreasonably high sovereign risk premium on Argentine assets compared to other countries, Bloomberg News reported. "When we compare it to other countries in the region including Brazil, there's an overshooting on the country risk in Argentina," he said.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: India fines Citi's domestic unit; NAB suffers 5-hour outage

* Middle East & Africa: Saudi's Al Rajhi in merger talks for Malaysian unit; QIA to boost US investments

* Europe: Euronext launches Oslo Børs offer; BNP closing €2.5B arm; Danske probe in France

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.