Archaeologists find 1,100-year-old tomb in the Mayan city of Tonina
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Mexico
Posted January 29th, 2010 at 1:29 pm
Archaeologists believe a newly discovered 1,100-year-old tomb in Mexico may hold clues to finally understanding the decline of the Mayan empire.
The ancient tomb was discovered at the site of the Mayan city of Tonina in Mexico's state of Chiapas, on the border with Guatemala.
Experts have dated the find - which included a stone sarcophagus, ceramics and human bones - to between 840 and 900 AD. - read more
"This is very interesting, because we are going to see from the bones who these peop...
Mexico buys dollars on the Cheap!
Mexico's central bank chief, Agustin Carstens, said on Wednesday the country should accumulate more international reserves to protect it from future volatility in the foreign exchange market.
Carstens said Mexico's economy was recovering better than policy makers had expected but he was concerned the peso currency could take a hit when the U.S. Federal Reserve eventually starts raising interest rates.
Carstens said now was a good time for the bank to buy dollars, and higher reserves could al...
Salvadorans migrants Killed in Oaxaca Mexico
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Mexico
Posted January 27th, 2010 at 2:45 pm
SAN SALVADOR, El Salvador -- The government of El Salvador has filed a complaint with Mexican officials over the killing of three migrants and the rape of four others by armed men in southern Mexico.
El Salvador's deputy minister for Salvadorans abroad says about 150 migrants were pulled off a train by unidentified assailants in the southern Mexican state of Oaxaca.
The official, Juan Jose Garcia, says three men were slain and four women raped in the Saturday attack. Salvadoran migrants freq...
HSBC Bank Says Mexico More Attractive Than Brazil , HSBC will invest $700 million more
Mexican stocks are more attractive than Brazilian shares because the nation will benefit from the U.S. economic rebound and be hurt less by China’s lending curbs, said John Lomax, a strategist at HSBC Holdings Plc.
“The U.S. is in the better side of the equity market cycle,” Lomax said in an interview during a trip to Rio de Janeiro.
Mexico sends 80 percent of its exports to the U.S., while China replaced the U.S. as the top destination for Brazil’s exports last year. Lomax rates Mexic...
Mexico poised for the biggest annual rally
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Mexico
Posted January 25th, 2010 at 3:45 am
Mexico’s benchmark local bonds are poised for the biggest annual rally in four years after underperforming regional debt in 2009 as the economy recovers and the peso gains, Stone Harbor Investment Partners said.
The yield on Mexico’s 10 percent peso bond due in December 2024 may plunge about 40 basis points, or 0.40 percentage point, in 2010, to 7.80 percent, said Pablo Cisilino, who manages $11.5 billion in emerging-market assets at Stone Harbor in New York. That would be the biggest one-y...
Target eyeing Mexico for expansion
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Businesses
Posted January 22nd, 2010 at 7:27 pm
Target is navigating turbulent economic times by polishing old stores rather than opening new ones and seeking growth in countries outside of the United States, such as Mexico.
The discount chain said yesterday that it will spend $1 billion renovating 340 stores while opening fewer than 10 new ones in 2010.
That's dramatically fewer than the 58 it opened in the fiscal year ending Jan. 31 and the 91 it opened in fiscal 2008. The renovated stores will also offer more groceries.
The...
Brazil Bank Bradesco Signs Deal To Buy IBI Mexico
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Businesses
Posted January 22nd, 2010 at 7:23 pm
Brazil's No. 2 private bank Banco Bradesco SA (BBD, BBDC4.BR) announced Friday it agreed to buy IBI Mexico for an undisclosed price in its first excursion into international credit card administration.
The bank said it had no immediate plans to use IBI Mexico as a beachhead to set up retail banking operations in Mexico, but the deal reinforces ideas that Brazilian banks are increasingly looking for opportunities abroad following two years of consolidation at home.
Bradesco will pay cash ...
Carlos Slim interested in doing a History Channel focused on Mexico or Latin America
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Mexico
Posted January 21st, 2010 at 9:40 pm
At a press conference Wednesday, Telmex's controlling shareholder, billionaire Carlos Slim, said the company's intention is to distribute television on its network, not to enter the TV content market.
Another television provider would create demand for more content, and work for content providers, he said. The only thing Telmex would be interested in doing, or promoting, is a History Channel focused on Mexico or Latin America, or a regional National Geographic channel, Slim added....
Mexicos Slim plans Investment plan to radically update Mexico’s “Digital Infrastructure”
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Mexico
Posted January 21st, 2010 at 1:45 pm
Mexicos Slim plans Investment plan to radically update Mexico’s “Digital Infrastructure"
From: Daniel Hernandez
At a sleek press conference inside his Telmex Institute in Mexico City’s historic downtown, Slim and several of his top corporate deputies announced a $10 billion-peso three-year investment plan to radically update Mexico’s “digital culture.” A separate multi-million-dollar initiative to fund genome research came on Tuesday.
The idea, Slim said, is to make Mexico more ...
China Investment Corp in talks For investments in Mexico
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Mexico
Posted January 20th, 2010 at 6:14 pm
(Corrects to say CIC will rely more on external managers in inefficient markets in eighth paragraph.)
Jan. 20 (mexico.) -- China Investment Corp., the nation’s sovereign wealth fund, has had “early” talks for direct investments in Brazil and Mexico, Chairman Lou Jiwei said.
The sovereign wealth fund plans to increase direct investments this year and prioritizes such investments in developing markets, Lou said at a financial forum in Hong Kong today. CIC plans to be an “active, minority...
