Mexico is ranked at the top international list for corporate tax competitiveness
Mexico has been ranked at the top of a new international list for corporate tax "competitiveness," making it the best place to do business based on a comparative analysis of countries with regard to the "total tax burden faced by companies," according to the business research firm KPMG....
Mexico’s Homex agrees to alliance with Indian builder.
Mexico's Homex agrees to alliance with Indian builder.
Desarrolladora Homex, S.A.B. de C.V. ( HXM, BMV: HOMEX), through its subsidiary Homex India Private Limited (Homex or the Company) and Puravankara Projects Limited (Puravankara) announced today the signing of a Memorandum of Understanding through which the companies have established the rules for a non-exclusive Joint Venture company to undertake projects in the affordable entry-level housing segment. The first project of the Company is e...
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 ...
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.
(more...)...
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...
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 ...
Mexicos “America Movil SAB” plans to take over Telmex Internacional
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Businesses
Posted January 14th, 2010 at 5:45 pm
America Movil SAB from Mexico, Latin America’s largest wireless carrier, fell the most in 10 months after announcing plans to take over its sister fixed-line companies in a deal valued at more than $20 billion.
The company, controlled by Mexican billionaire Carlos Slim, said yesterday that it would offer stock worth about 215 billion pesos ($17 billion) for a holding company that controls South American carrier Telmex Internacional SAB. America Movil would then offer as much as 82.5 billion p...
Is it Time To Buy Pemex Bonds? they look like a Buy on Spreads, Higher Oil Prices
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Businesses
Posted December 29th, 2009 at 2:49 pm
Is it Time To Buy Pemex Bonds? they look like a Buy on Spreads, Higher Oil Prices.
The 8 percent dollar-denominated securities maturing in 2019 from the largest oil producer in Latin America are yielding 64 basis points above sovereign bonds with the same maturity. A “fair value” for Pemex yields would be as little as 12 basis points higher, said RBC analyst Eduardo Suarez, who is based in Toronto and rates the state oil company’s debt “outperform.”
“With the rating downgrade unc...
