AGP Executive Report

Oil Markets: China’s demand is rebounding fast, pushing Shanghai crude back above $100 and lifting crude prices across Africa, Canada, and Latin America as Hormuz disruptions and tighter Iranian supply spark a scramble. US-LatAm Diplomacy: Secretary of State Marco Rubio is set to visit Colombia, Ecuador, and Peru to deepen cooperation on earthquake response and anti–narco-terrorism, amid a rightward political shift in the region. Aviation Safety: An Amazon Prime Air cargo jet overran a runway at Miami International Airport, killing five and injuring others; investigators are dispatched as officials compare it to a 1997 crash. Mexico Security: A car bomb in Zacatecas injured at least 11, with authorities suspecting CJNG involvement in a widening turf fight with the Mayiza faction of the Sinaloa cartel. Business & Competition: The US FTC cleared the Volaris–Viva Aerobus merger for now, moving the deal closer to Mexico’s final antitrust decision. Culture & Heritage: UNESCO’s Memory of the World Regional Register added the Earl Lovelace manuscripts, with a ceremony at the University of the West Indies.

UNGA Watch: Ghana’s President John Mahama is set to deliver key remarks at the UN General Assembly’s 81st session in New York, with the high-level debate running Sept. 22–28 and Climate Week scheduled Sept. 20–27. El Niño Shock: The UN’s weather agency warns El Niño is intensifying into a “supersized” event lasting into Feb. 2027, raising risks of floods, droughts, and extreme heat across Latin America and beyond. Energy & Climate Resilience: Colombia’s Vector Geophysical bought 30,000 STRYDE Halo-Connect seismic nodes to boost high-density exploration capacity, while the Philippines’ MTerra Solar Phase 1 hit commercial operations for 600 MWac solar plus large battery storage. Tech Infrastructure: Argentina’s Patagonia is drawing hyperscalers for mega data centers, attracted by cool conditions and energy resources, as projects face less local backlash than in the US. Cross-border Payments: SQRIL says it’s expanding bank and neobank support so users can scan-and-pay local QR codes across Asia, Africa, and Latin America in their home currency. Security: Check Point details JSCeal malware campaigns using fake trading sites and malicious ads to harvest credentials and intercept traffic.

Venezuela Oil Row: U.S. Energy Secretary Chris Wright denied Washington is “stealing” Venezuela’s oil, saying the U.S. controls exports and Venezuela is “forced to work” in partnership—while royalties and taxes go to Caracas. Peru-Iran Break: Peru’s President Keiko Fujimori backed the U.S. war drive by breaking diplomatic ties with Iran, a move framed as aligning with Washington’s agenda. Falklands Tensions: Argentina’s Milei says he’ll push tougher sanctions against firms drilling near the Falkland Islands, signaling a harder line on sovereignty. Mexico Politics: Morena leaders urged unity ahead of 2027 midterms, aiming to “leave them without a task” as governorships and local races loom. Panama Infrastructure: Tocumen Airport approved two mega-projects totaling about $306.75M to expand capacity and modernize runways. Cross-border Payments: The ECB and Brazil’s central bank are assessing a link between Europe’s TIPS and Brazil’s Pix, with a possible pilot as soon as 2028. Chile Memory March: Thousands marched in Santiago to mark the 1973 coup and protest cuts to funding for memory and human-rights sites. Miami Airport Disaster: An Amazon Prime Air cargo plane overran a runway at Miami International, killing five people on the ground and shutting down flights.

Crypto Shock in Chile: Orionx, backed by Tether, is permanently shutting after a forensic audit found over $7M in customer assets moved to outside wallets, suspending withdrawals and leaving 100,000+ users in limbo. Ecuador Rights Backlash: Ecuador’s adoption reform bars LGBTQ+ couples and requires single adopters to be straight, while critics warn vague language could trigger custody loss for parents supporting trans children. Colombia Security: A guerrilla drone attack in Catatumbo killed three soldiers, with ELN blamed and authorities saying operations against armed groups will continue. Ecuador Power Crunch: An asymmetrical El Niño pattern threatens electricity shortfalls in 2026, endangering 33 hydro plants that make up 83% of capacity. Mobility Safety Push: Yango Ride says safety incidents fell—grave violations down 31%—linking improvements to privacy tech, anti-fraud tools, and 24/7 support across Latin America and beyond. Education That Works (Bogotá): A Bogotá public school cut bullying to zero and slashed serious coexistence incidents by 85% by shifting to emotional well-being and peer-led conflict resolution. Culture & Soft Power: Qatar Philharmonic Orchestra will stage “Sounds of Mexico” (Sept 18) and “Sounds of Canada” (Nov 7) in Doha as part of the Qatar-Canada-Mexico 2026 Year of Culture. Tech & AI Growth (China): China unveiled a plan to grow AI-focused SMEs—aiming for 10,000+ AI firms and “little giant” specialists by 2028.

UN Map Fight: The UN General Assembly backed a non-binding switch from Mercator to the Equal Earth projection, making Africa look larger and North America/Europe smaller; Togo led the push, 164 countries voted yes, and the US was the lone no, arguing the UN should focus on “genuine” problems. Argentina–UK Falklands: President Javier Milei says Argentina will toughen sanctions against firms drilling near the Falklands, framing it as sovereignty protection; Britain says its stance is “unwavering,” and Argentines broadly support the harder line. China–Trinidad Tech Tensions: China’s embassy in Port of Spain rejected US criticism of Chinese tech firms, accusing Washington of political interference and pointing to US surveillance claims across Latin America and the Caribbean. El Salvador AI in Schools: An OECD PISA-for-Schools assessment says El Salvador’s AI tutor pilot in 171 schools is producing results comparable to Sweden and Germany, and the program is set to expand to 1,000+ schools. Uber/Glovo in Africa: Uber’s planned $14.8B Delivery Hero deal could bring Glovo back into Nigeria via Uber’s delivery footprint, pending regulators. Child Online Abuse Crackdown: South Africa arrested a 16-year-old tied to a transnational online extortion network allegedly targeting minors for sexual abuse and coercion.

Colombia Security: A guerrilla drone attack hit a military garrison in Ocana, Catatumbo, killing at least two soldiers and wounding five as President Abelardo de la Espriella vows tougher action against the ELN. UN Cartography Fight: The UN General Assembly backed a new “Equal Earth” world map that makes Africa look larger and shrinks North America and Europe; the US voted against. Venezuela Oil Deal: The US took a 35% passive stake in Venezuela’s oil venture tied to Alejandro Betancourt, amid a wider push for majority control over major fields. US-Cuba Intelligence: ICE deported a Cuban intelligence agent from Miami, alleging long-running infiltration of exile and dissident communities across the US and Latin America. Regional Diplomacy: Trinidad and Tobago and Venezuela agreed to set up a joint commission to restart stalled cooperation across multiple ministries. Tourism Spotlight: Puerto Rico was named “International Guest Destination of Honor” for ANATO 2027 in Bogotá, aiming to deepen Colombia ties. Education in LatAm: UNESCO is preparing ERCE 2025 results on student learning across Latin America and the Caribbean, due in December. Business/Industry: Tata Motors began its all-cash tender offer for Iveco at €14.1 per share, with acceptance set to run from Sept. 7 to Oct. 26.

UN World Map Overhaul: The UN General Assembly backed an African-led proposal to adopt the Equal Earth projection, aiming to show Africa’s true relative size and reduce the apparent size of North America and Europe; 164 countries voted in favor, the US voted against, and six abstained. Costa Rica Security Debate: President Laura Fernandez said US military operations in Costa Rica could benefit national security against transnational crime and drugs, but only with approval from the national legislature and with no current plans for US forces. Energy Watch (LatAm): OLACDE reported April 2026 oil extraction in Latin America and the Caribbean rose 10% year-on-year to 318 million barrels, led by Brazil, Mexico, and Venezuela; natural gas extraction also climbed 8.5%. Workplace Mental Health: A TELUS Health study found Puerto Rico’s worker mental health remains “vulnerable,” with 53% lacking emergency savings and financial stress driving risk to productivity. Tech & Finance: Argentine startup UIN raised US$2M to expand BehaviorOS, using AI to turn bank/fintech transactions into recurring customer behavior across LatAm. Travel & Business: Alaska Airlines launched a new San Diego–Loreto nonstop route for its 40th anniversary, while Hilton appointed Kolin Pound as area president for the Caribbean and Latin America.

US-Fintech Expansion: Revolut cleared a major hurdle after receiving conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter, aiming for a 2027 launch and offering products like deposits, loans, cards, and stablecoin access. Energy & Transport: Brazil’s electrified vehicle growth is starting to squeeze gasoline and ethanol demand, with Citi and ICCT Brazil projecting a longer-term decline even as the economy grows. Renewables in the Region: Spain’s Norvento Enerxía is pushing deeper into Latin America’s energy storage market, targeting Brazil, Chile, Argentina, Mexico, and Guatemala with utility-scale battery projects. Digital Finance in LATAM: Banco do Brasil made a $5M investment in Citi’s digitally native structured note on Euroclear’s blockchain-based D-FMI platform—its first digital note deal. Tourism Spotlight: Mexico ranked 4th globally for tourism’s direct GDP contribution and leisure spending, with Cancún and the Riviera Maya still driving the numbers. Climate Risk: The UN’s El Niño warnings point to intensifying extreme-weather impacts through 2027, raising drought and flood risks across the region.

U.S.-Cuba Sanctions: Washington announced fresh sanctions targeting Cuba’s power-grid supply chain, including Abapet, as blackouts worsen and daily outages top 24 hours. Florida Voting Fight: Two voting-rights groups sued to block Florida’s proof-of-citizenship requirement for voter registration, arguing it conflicts with federal law and could disenfranchise voters of color. Venezuela Energy Moves: GeoPark entered Venezuela by buying the Bare block, while Eni and Chevron signed/expanded major upstream deals tied to Junín-5 and higher output targets—fueling a wider sovereignty debate. EU Trade Pressure on Brazil: The EU moved to suspend imports of Brazilian animal products over antibiotic and antimicrobial drug concerns, putting exporters on edge. Climate Watch: UN and WWF-linked reporting warns a “supersized” El Niño could intensify droughts and floods across Latin America. CARICOM AI Governance: Jamaica’s Wheatley urged a coordinated CARICOM approach to AI rules to protect regional interests. Tech Payments: Bybit Pay integrated with Mesh to let users fund purchases directly across connected merchants without extra transfers. DR Congo-Israel Diplomacy: DR Congo agreed to relocate its embassy from Tel Aviv to Jerusalem, with no timeline given.

Venezuela Energy Deals: US Energy Secretary Chris Wright oversaw signing of “tens of billions” in new oil and energy deals with Chevron and Eni during a high-profile visit, as Caracas pushes to ramp production and translate agreements into benefits. Brazil Election Watch: Ahead of October voting, Lula is running a unusually cautious campaign, with advisers focused on avoiding misinformation risks and legal missteps that opponents could exploit. Latin America Climate Risk: The UN’s WMO warns El Niño is “supersized,” with near-100% odds it persists into early 2027, raising the odds of extreme weather across the region. Peru Social Trend: “Aura farming” is spreading in Peru, with real-world dance battles where young people compete for attention and momentum from the viral concept. Healthcare Expansion (Brazil): Cellgenic is expanding its commercial presence in Brazil with local representation and physician-facing support to back product distribution. Telecom (Caribbean/Central America): Digicel named Salvador “Salva” Hierrezue-lo as group chief business officer to grow enterprise offerings. UNICEF Child Safety: A UNICEF study estimates about 20 million children faced online sexual exploitation or abuse across 21 countries, with social media driving most incidents. Tech & Travel: Civitatis is integrating its tour catalog into ChatGPT and Claude to help users plan and book activities inside AI chats.

Venezuela–U.S. Energy Deal: Chevron confirmed it will expand in Venezuela’s Orinoco Belt after the U.S.-Venezuela pact targets 1.5 million barrels per day, with officials saying it could unlock major investment and tax revenue. Regional Governance & AI: CARICOM urged Caribbean countries to coordinate AI governance so the region can shape rules that protect citizens. Caribbean Reparations Push: Barbados will host the third CARICOM Regional Conference on Reparations (Sept. 17–19), focusing on practical implementation of the reparatory justice plan. Food Waste Reality Check (LatAm): A survey across Argentina, Chile, Colombia and Mexico found 91% say food waste is relevant, but only 12% say they never throw food away—prices are driving behavior. Cross-Border Fintech: Félix Pago raised $200 million to scale WhatsApp-based remittances and expand into lending and savings for Latinos. Cuba Culture & Shortages: Silvio Rodríguez said Cuba’s cultural life endures despite shortages tied to the U.S. blockade. Colombia Art Scene: Bogota is gearing up for ARTBO 2026 (Sept. 24–27), with 50+ galleries and a full education-and-arts program.

Venezuela Energy Deal: The U.S. secured a major oil partnership with Venezuela, with details pointing to 17 strategic fields, a production target above 1.5 million barrels a day, and $100B+ in private investment—while a controversial Venezuelan oil figure, Alejandro Betancourt, is at the center of the arrangement. Judicial Overhaul: Venezuela’s National Assembly approved reforms expanding the Supreme Court nominations committee and giving civil society a majority of seats, aiming to restart judicial selection and rebuild independence. Colombia-U.S. Security: Colombia and the U.S. are accelerating military cooperation under a new anti-narcotics agenda, with focus on the Pacific trafficking corridor and border operations. Brazil Visa Tech: Brazil launched an electronic temporary visa system (VITEM) for travelers from visa-exempt countries, shifting paperwork online for study, work, investment and digital nomad stays. Distributed Solar Finance: Odyssey Energy Solutions raised $74M (equity + debt) to scale distributed renewables across Africa, Asia and Latin America, linking installers and EPCs to project capital. El Niño Hunger Risk: A strengthened El Niño is threatening 60 million people with hunger, with impacts reaching Latin America and the Caribbean. Tech & Telecom: Viettel and Qualcomm teamed up to commercialize Open RAN 5G infrastructure across markets including Peru and the Dominican Republic.

Venezuela-US Energy Deal: Venezuela’s National Assembly backed the Trump administration oil pact, clearing the way for U.S. Energy Secretary Chris Wright’s visit; the plan gives North American Blue Energy Partners a 100-year lease over 17 fields, with the Pentagon’s investment arm taking a 35% stake and Washington securing purchase rights. Cuba Tourism Shock: Cuba’s tourism fell 62% from January to July after intensified U.S. pressure, including an energy embargo and sanctions that pushed major hotel chains to suspend contracts. Venezuela Earthquake Recovery: Caracas’ Simón Bolívar airport partially resumed commercial flights nearly 10 weeks after the June earthquakes, aiming for 25% of pre-quake operations first. Brazil Fintech Credit Watch: Mercado Pago said it’s comfortable expanding credit cards despite rising household debt concerns in Brazil, citing stable underwriting and portfolio health. Colombia Pharma Approval: Knight Therapeutics won Colombia regulatory approval for TAVALISSE for chronic immune thrombocytopenia, expanding access across Latin America. Regional Business Moves: Cemento Panam (Grupo Estrella) bought Cementos Fortaleza’s El Salvador plant to boost Central America capacity; Vinci Compass closed its acquisition of Navi’s real estate platform in Brazil. Tech & Payments: Kast launched a stablecoin-powered business platform with accounts, cards and transfers across 170+ countries, offering up to 8% APY.

Climate Shock in Peru: El Niño is wrecking Peru’s anchovy catch, cutting May output to 32,800 tons from 1.3 million a year earlier and triggering an unemployment crisis as fish move to deeper, colder waters. Logistics Push in Uruguay: DHL Global Forwarding is buying Aero Cargas, giving it its first direct Uruguay operation and a stronger life-sciences and multimodal logistics footprint as shippers reroute through the Southern Cone. Air Travel Demand: IATA says global passenger demand rose 0.2% in July, with international slightly down but capacity up and Gulf hubs recovering. Air Cargo Momentum: IATA reports air cargo demand up 3.9% in July, though growth eased versus earlier months amid fuel-price and geopolitical headwinds. EV Exports to Latin America: BYD’s August sales rose 17.8% and overseas shipments jumped 134.5%, with Brazil highlighted as a key growth market. Digital Payments in the Philippines: QR Ph is now interoperable with Alipay+ via PPMI, letting international users pay Filipino merchants by scanning existing QR codes.

Venezuela–U.S. Energy Deal: Trump announced a long-term oil pact that would give the U.S. an effective 55% stake in output from 17 Venezuelan fields tied to 65 billion barrels, but experts and lawyers say the terms are unclear and the agreement’s legality and execution remain in question. U.S.–Colombia Security Shift: Colombia and the U.S. are discussing joint strikes against armed groups as a new right-wing government takes power, with Washington signaling partnered groups could be targeted. Humanitarian Crisis at Mexico Borders: A new report warns Trump’s “mass deportation” strategy is reshaping deportations into a humanitarian emergency in Mexico, with many deportees coming from the U.S. interior after long stays. El Niño Food Shock: Oxfam reports El Niño is driving severe crop failures in Central America’s Dry Corridor, hitting corn and bean farmers and worsening water access and migration pressures. Latin America Trade & Industry: ICTSI says its Manzanillo terminal in Mexico can now handle ultra-large container ships up to 15.5-meter drafts, boosting capacity for global shipping. Business & Culture: Monarq Group will distribute ultra-premium Cazcanes Tequila across Caribbean, Central and South America plus Mexico and U.S. duty-free channels.

U.S.-Venezuela Oil Deal: Washington and Venezuela’s interim leadership have agreed to a massive pact giving the U.S. majority control of about one-fifth of Venezuela’s crude reserves, but energy experts and lawyers are flagging major legal and execution questions, including a lack of contract transparency. Defense & Iran: U.S. commanders are reportedly warning Defense Secretary Pete Hegseth that prolonging large-scale operations against Iran is unsustainable and could weaken U.S. readiness in other regions, including Latin America. Trade Tensions: Ahead of the G20, U.S. Treasury chief Scott Bessent urged more trade barriers on China to address global imbalances, drawing criticism that it risks turning economics into politics. Energy Transition in LatAm: Jinko ESS teamed with Brazil’s UCB Power to localize battery storage equipment for upcoming capacity reserve auctions, aiming to build more in-country capability. Business & Connectivity: CMA CGM and China Communications Construction signed an MoU to deepen port-infrastructure and logistics cooperation across Africa and Latin America. Local Economy: A Michigan farming community story highlights how Trump’s trade and immigration plans are resonating with growers facing competition from cheaper Latin American imports.