Category Archives: Mexico

Mexico to create telecoms investment promotion agency

Mexico is set to establish the Telecommunications Investment Promotion Agency through a presidential decree. The agency will be responsible for the installation of the government’s proposed shared network and provision of telecommunications services. The federal government will provide the resources to the agency that will be managed by a board of directors, headed by the Minister of Communications and Transport.

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Mexico’s Femsa debuts in euro bonds

Fomento Economico Mexicano sold euro-denominated debt for the first time on Monday, joining a wave of Mexican borrowers tapping the market as the European Central Bank starts buying investment-grade company debt. emsa, which owns Latin America’s largest convenience-store chain as well as a stake in Heineken NV, sold 1 billion euros ($1.1 billion) in seven-year bonds.

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Mexico Presses Ahead With Energy Overhaul

Mexican President Enrique Peña Nieto said Monday that his administration is determined to press ahead with the implementation of the country’s energy overhaul, setting a date for deep-water oil block auctions and speeding up the process of opening of the gasoline market. Mexico is proceeding with opening its energy industry and markets despite the low oil prices, Peña Nieto said.

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Mexico Economy Expanded 2.5% in Fourth Quarter on Consumption

Mexico’s economy in the fourth quarter expanded in line with a preliminary report published last month as domestic consumption rebounded amid record-low inflation.

Gross domestic product rose 2.5 percent from a year earlier, according to final figures released by the national statistics institute Tuesday. From the previous quarter, GDP advanced 0.5 percent. Full year growth accelerated to 2.5 percent from 2.3 percent in 2014.

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America Movil quarterly profit grows five-fold

Billionaire Carlos Slim’s America Movil on Tuesday reported a five-fold increase in quarterly profit, helped by a smaller loss from currency fluctuations, but tougher regulations in Mexico continued to squeeze margins at home. However, operating profit at Latin America’s largest wireless and pay TV provider fell. Grappling with tough regulation at home and deepening recession in Brazil, America Movil’s share price slipped more than 15 percent in the last year.

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