Mexican construction and engineering company Empresas ICA issued $75 million of debt on the local market. The bonds mature in 17 years and pay 13.16 percent. ICA will use the proceeds to pay down existing debt with Mexican bank Banco Nacional de Obras y Servicios Publicos.
Category: Regions
Posted inDaily Brief
José Antonio González Anaya, Director of Insurance and Securities at the Mexican Ministry of Finance and Public Credit, joins “Mortgage Insurance” workshop at LatinFinance’s Cumbre Financiera Mexicana, July 13-14, Mexico City.
Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana
Posted inDaily Brief
Strike in Peru
Seventy percent of the 869 workers at Shougang Hierro Peru, Peru’s only iron miner, went on strike Monday, their third in 12 months, to push for a pay raise. The strike is the second to hit Peru’s mining industry in a month. Workers walked off the job for eight days in June at Peru’s biggest zinc and lead miner Volcan Compania Minera.
Posted inDaily Brief
John McCarthy, CEO of FONATUR and William Pingleton, Managing Director – Americas, Franklin Templeton International
are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana
Posted inDaily Brief
Dr. Gerardo Rodríguez Regordosa, Director of Public Credit, Mexican Ministry of Finance and Public Credit and Victor Herrera, Managing Director, Standard & Poor’s
are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana
Posted inDaily Brief
Uribe Election Favorite
Colombian pollster Napoleón Franco says President Alvaro Uribe’s approval ratings hit 77% in June. However, his economic policies and attempts to cut unemployment made little impression on potential voters, scoring 37% and 29% respectively. Just under half of respondents say Uribe’s re-election would harm the country and 49% no longer felt that rebel insurgents presented a threat.
Raul Reyes, a spokesman for FARC leftwing rebels, proposed exchanging three kidnapped US defense contractors for two guerrilla leaders jailed in the US. This is the first time the FARC has offered to open direct talks with the US. Washington rejected the offer, saying it does not negotiate with terrorists.
Posted inDaily Brief
Álvaro Madero Rivero, President of Amafore, the Association of Mexican Pension Fund Managers,
is confirmed as a panelist at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana.
Posted inDaily Brief
Mexico Approves Voter Plan
Legislators approved a law allowing Mexicans living abroad to vote in next year’s presidential elections. Congress approved the legislation by 455 votes, with six abstentions. Some 11 million Mexicans live in the US and about 4 million already have voting papers allowing them to vote in the July 2006 election. Nearly all Mexicans living abroad reside the US.
Posted inDaily Brief
Bolivian Exports Up
Despite political turmoil Bolivian exports rose 17 percent year-on-year to a record high $957 million in the five months through May. Oil and gas exports led the way at $415 million, followed by manufactured goods at $350 million and minerals at $135 million. Agricultural exports jumped 40 percent to $52 million.
Posted inDaily Brief
AHMSA Eyes Israel
Altos Hornos de Mexico SA (AHMSA) is considering a $100 million investment to build copper mines in Timna, Israel. The company estimates that mines in the region have sufficient reserves to allow production of 50,000 tons of copper a year for 10 years. Mines near Timna have been shut since 1985 but Israel plans to reopen them due to record high copper prices.