Citigroup Nominates Ernesto Zedillo to Board of Directors
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Mexico
Posted February 26th, 2010 at 3:12 pm
Citi Board Nominates Ernesto Zedillo to Board of Directors
“Dr. Zedillo’s extensive experience as a world leader and his expertise in global economics make him a valuable addition to the board,” Richard Parsons, Citi’s chairman said in a statement.
Citigroup announced on Friday that it would be nominating Ernesto Zedillo, former president of Mexico, for its board of directors at its shareholder meeting on April 1.
Adding Zedillo, an economist widely credited with steering ...
Mexican police arrested drug dealer named José Vázquez Villagrana- El jabalí
Mexican Federal Police confirmed the arrest of José Vázquez Villagrana, known by his alias "El jabalí 'and identified as an important member of the Sinaloa cartel, responsible for moving the drugs from Nicaragua to Colombia and destined for the United States. The head of Mexico's Drug Enforcement Division, Small Ramon Eduardo Garcia, has stated in a press conference that the arrest occurred in the town of Santana in the state of Sonora, without making a shot. During the operation, autho...
Mexico , South American Unity Summit in Mexico
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Mexico
Posted February 22nd, 2010 at 4:04 am
Mexico, says the Organization of American States should first decide on whether to recognize or not the new Honduran leader, who took office on January 27....
Potential wireless phone spectrum bidders in Mexico
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Businesses
Posted February 18th, 2010 at 3:38 pm
The Mexican units of America Movil (AMXL.MX) (AMX.N), controlled by billionaire Carlos Slim, and Telefonica
(TEF.MC) are two of 17 companies that want to bid for new wireless spectrum, according to Mexico's telecommunication regulator Cofetel.
The spectrum auctions, which are expected to pit media and cable companies against wireless giants, are part of a government push to stoke competition in the industry long dominated by Carlos Slim's companies.
A partnership between media conglomerate ...
Mexico plans to buy Billions in U.S Dollars
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Mexico
Posted February 17th, 2010 at 10:39 pm
Mexico plans to buy more U.S. dollars and end credit lines with the International Monetary Fund and U.S. Federal Reserve in a sign of confidence in the country's recovery from the financial crisis.
Mexican Central Bank chief Agustin Carstens said on Wednesday his country should increase international reserves and gradually extricate itself from a $47 billion line of credit with the IMF.
Separately, the bank said Mexico would not renew a $30 billion swap line with the Fed that expires on ...
Mexico’s looks for 3.9 economic growth forecast for 2010
Mexico's Treasury Department says it expects the economy to grow by 3.9 percent this year. That's an improvement over its earlier prediction of 3 percent.
"Finally, growth predicted for the global economy as well as the recovery in formal employment that began in July 2009 allows for expectations that the recovery of external and internal demand will continue in 2010," the ministry said. - Finance Minister of Mexico
The statement said the new forecast is in line with private estimates. The I...
Wal-Mart de Mexico acquires Walmart Centroamerica
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Businesses
Posted February 16th, 2010 at 1:46 pm
Wal-Mart de Mexico, S.A.B. de C.V. (WALMEX), a Mexico-based operator of hypermarkets, apparel stores and restaurants, has acquired Walmart Centroamerica from Wal-Mart Stores, Inc. ( WMT | Quote | Chart | News | PowerRating), a US-based operator of retail stores. The transaction is valued at approximately $2,852.05 million.
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Televisa has agreed to buy 30% of Nextel de Mexico
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Businesses
Posted February 16th, 2010 at 1:44 pm
Mexican media giant Televisa said Monday it has agreed to buy 30 percent of cell phone carrier Nextel de Mexico for $1.44 billion as part of its plan to offer "quadruple play" — voice, video, Internet and wireless products.
Two of Mexico's most powerful businessmen are set for a new round of head-to-head competition as the country's television
The companies plan to bid together on wireless airwaves in a government auction planned for May, and the investment is subject to winning ...
Zurich Financial Looks for growth In Mexico
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Businesses
Posted February 16th, 2010 at 1:41 pm
-Swiss insurance company Zurich Financial Services Ltd. wants to boost its presence in Brazil and Mexico as it bets consumers in Latin America's two largest economies will demand more insurance products, according to a top executive.
"In the short-run, I think the focus is to continue building up our presence mainly in Mexico because in the other markets we already have a very strong position," Peter Rebrin, chief executive for Zurich Latin America, said in an interview in Mexico City.
Zuric...
