Digicel Hits the TopIn a sign that LatAm debt capital markets have peaked, Digicel, the Jamaica-based wireless provider, issued $1.4 billion in Triple C rated bonds. The daring jumbo junk […]
Category: Regions
Posted inMagazine
Digicel Takes Caribbean by Storm
Irish-owned telecom Digicel is rapidly growing its Caribbean market share, even in Haiti and Guyana.
It also has an eye on Cuba and Central America.
Posted inMagazine
Hurricanes and Googlies
The Caribbean is enjoying a construction boom and offers diversification for investors. Equity markets are gaining critical mass and even the weather risk has been mitigated.
Posted inMagazine
Jamaica: No Problem
Jamaica is basking in the regional good times and claims to be turning a corner. However high debt levels and disappointing fiscal performance are holding it back.
Posted inDaily Brief
Mexico Expects FDI Slowdown
Mexico’s economy ministry is expecting foreign direct investment to slow this year, reflecting an economic deceleration in Mexico’s largest investor – the US – and at home. Deputy economy minister Carlos Arce estimated that FDI would fall back from around $18.9 billion last year to $18.3 billion this year. Last year, new investments accounted for 40%, or $7.54 billion of total FDI. The US remained Mexico’s largest investor last year, contributing just over two-thirds of all investment.
Posted inDaily Brief
Aeroméxico Proposes Primary Share Offering
The board of directors of Mexican airline group Aeroméxico announced on Tuesday it will propose to shareholders a primary offering of shares, both local and international, to raise capital. The shares to be sold belong to the government which has been trying for some while to find a buyer for its 60% stake.
Posted inDaily Brief
Merrill Lynch Applies For Mexican Banking License
Merrill Lynch said it has applied for a Mexican banking license, and will join the likes of UBS, Barclays and Prudential who have recently been granted such a license. The Bank hopes the move will help it expand its institutional business – for example, by giving it more flexibility to create structured products for its clients and also to allow deposit taking. Merrill Lynch currently has a representative office and a brokerage operation in Mexico.
Posted inDaily Brief
Peru Names Alva Castro New Interior Minister
Luis Alva Castro has been named the new interior minister of Peru. His first move following his appointment was to announce the creation of external committees to manage certain public purchases. He replaces Pilar Mazzetti who resigned following allegations of irregularities in the acquisition of police vehicles by the ministry, although there was no suggestion of personal involvement. Alva Castro served in Alan García’s first government (1985-1990), before running as a presidential candidate for APRA in 1990.
Posted inDaily Brief
Polaris Energy “Surprised” At Nicaragua Move
Polaris Energy Nicaragua, a subsidiary of Canadian renewable energy producer Polaris Geothermal, has announced that the office of Nicaragua’s Attorney General has informed it that it has annulled the assignment of the San Jacinto-Tizate geothermal concession awarded in 1999. Polaris announced that although the government has not decided to annul its interests in the concession, it does intend to review its right of ownership, “which may include seeking the annulment of such rights”. Polaris said it was “extremely surprised” by the recent events as it believed the assignment of the concession had been investigated fully and cleared three years ago by the Office under the previous administration. Daniel Ortega’s Sandinista government recently announced it would review all geothermal concessions.