Slim has ramped up mining projects in Mexico this year, taking advantage of high commodities prices and China’s appetite for metals. “Mining is seeing perhaps unusually high prices currently, and exports of these goods have become very attractive,” the businessman said in Buenos Aires last month. Minera Frisco and Inmuebles Carso both plan to subscribe 2.745 bn shares each in the market next week. Slim and family members will hold close to 79% of the [...]
Mexico
An elaborate security system has enabled Mexican drug kingpin Joaquin “Chapo” Guzman to evade capture thus far, according to a U.S. diplomatic cable released by WikiLeaks.
Specialty finance company Navix de Mexico placed 4 billion pesos ($322 million) in equity-linked structured notes known as CKDs on the Mexican Stock Exchange Wednesday, marking one of the largest placements to date for the new instruments. Javier Artigas, director of strategic planning and marketing for the exchange, said the public offering from Navix will be the last in what has been a stellar year for the Mexican bourse. Companies have raised MXN29 billion on [...]
Mexican Film Director Alejandro González Iñárritu talks about the film and his view of immigration in Europe. It also shows illegal immigration in Europe? Alejandro Gonzalez: Technology is global, markets have to be global. The idea that human beings can’t be global is stupid. While they are still thinking like that we will create enormous social tensions. In 25 years Europe will be Muslim. That is a fact, it’s a statistic. If they don’t start [...]
Calls from fixed lines to cellphones in Mexico will drop nearly 11% starting Jan. 1 as a result of agreements between operators, the country’s biggest fixed-line company said Friday. Telefonos de Mexico (TMX, TELMEX.MX) said in a press release that the cost per minute for calls from its fixed lines to mobile phones will be 1.35 pesos (11 cents) under the “calling party pays” system. Telmex, which controls more than 80% of Mexico’s fixed phone [...]
Thanks to a Mexican supreme court ruling on Tuesday, Pemex now has the ability to offer the foreign oil companies more of an incentive to come down to Mexico. While the state will continue to own the oil, the government is allowing Pemex to pay foreign oil companies a fee on each barrel of oil they extract. That differs from the old system where they would be paid a flat fee for completing the project. [...]
A new Mexican air carrier could be operating out of Fresno Yosemite International Airport in 60 days to replace bankrupt Mexicana Airlines, which halted operations there in August. Based out of the Toluca State, in the southern half of Mexico, Volaris began offering flight service in 2005. With ridership increasing by 30% in 2010, the company plans to expand its routes in 2011 to Las Vegas, Phoenix, Sacramento and Fort Lauderdale, while beefing up its [...]
Information technology company IBM (NYSE: IBM | PowerRating) announced on Wednesday that Indeval, Mexico’s central securities depository (CSD), has selected IBM’s decision automation and advanced analytics software to settle securities trades. Financial details were not available. IBM said that now Indeval can settle securities trades in seconds, reducing the risk of financial losses and shielding the country from fluctuating market conditions With IBM’s software, the new securities settlement system, Dali, settles over USD250bn in securities [...]
The U.S. Department of State’s Bureau of Intelligence and Research Electronic Affairs Publication Office issued the following Background Note: Official Name: United Mexican States Geography Area: 1,972,550 sq. km. (761,600 sq. mi.); about three times the size of Texas. Cities: Capital–Mexico City (22 million, estimate for metro area). Other major cities–Guadalajara, Monterrey, Puebla, Ciudad Juarez, Tijuana, Acapulco, Merida, Leon, Veracruz. Terrain: Coastal lowlands, central high plateaus, and mountains up to 5,400 m. (18,000 ft.). Climate: [...]