Lourdes Flores, conservative presidential candidate and the front-runner for next month’s elections in Peru, has lost further ground to rival Ollanta Humala of the Peruvian Nationalist Party, according to the latest opinion polls. Humala’s share of the vote has risen from 23.9% in January to 25.5%, while Flores’ backing has fallen from 37.8% to 34.1% over the same period. Peru’s elections are slated to take place on April 9.
Category: Regions
Posted inDaily Brief
Peru To Auction New Phone License
Peru has set the date of March 31 to auction its second fixed-line telecoms license in a bid to open up the market to competition. The 25-year license will cover fixed-line telephony and internet access for Lima and Callao. Currently there is only one operator – an affiliate of Spanish company Telefónica, which has dominated the market since 1994. State investment company ProInversión is managing the sale. Interested bidders include Telefónica, Americatel and Millicom.
Posted inDaily Brief
Mexico To Continue Airport Sales
Following the successful sale last week of its 85% stake in Grupo Aeroportuario del Pacifico (GAP), the country’s largest airport operator, the Mexican government says it is planning to follow it up by selling its 49% share in Grupo Aeroportuario Centro Norte (GACN) before the end of this year. The government is considering an offer by local constructor ICA which owns the balance of GACN. Mexico successfully raised $870 million from its largest IPO in 10 years with the sale of GAP.
Posted inDaily Brief
Xstrata To Buy Stake In Cerrejón
Global mining group company Xstrata, headquartered in Zurich, is to buy a 33.3% stake in Colombia’s Cerrejón mine, the world’s largest open-cast coal mine. Xstrata will buy the stake for $1.7 billion from Swiss-owned Glencore, which bought the share in 2000. The mine was originally developed by a joint venture between state-owned Carbocol and Intercor, a subsidiary of US ExxonMobil. In 2000 Carbocol sold its stake to Anglo American, BHP Billiton and Glencore; they later bought out Intercor.
Posted inMagazine
Building Boom
Favorable interest rates and low prices are helping fuel a housing construction bonanza in Panama. But is the boom turning to a bust?
Posted inMagazine
Designs on Growth
Panama’s President Martín Torrijos is implementing market reforms that can also meet the needs of the poor and unemployed. Now he needs to strengthen the country’s frayed social fiber.
Posted inMagazine
Fight for Market Share
Panama’s International Banking Center has grown, thanks to a burgeoning local economy and incentives. But some banks complain the market is too crowded.
Posted inMagazine
Moving Closer?
The creation of a Caribbean Single Market and Economy has lent impetus to the idea of an integrated stock market for the region.
Posted inMagazine
Good Housekeeping
Controversial reform legislation is helping shore up Panama’s finances. The fiscal deficit, however, remains as serious a problem as ever.
Posted inMagazine
Out From Under the Mango Tree
In spite of lingering security concerns, the twin-island nation of Trinidad & Tobago is attracting fresh investment in a number of areas.