GBM to boost fund, broker staffs

Dow Jones - Mexican financial services firm Corporativo GBM plans to hire about 200 people next year at its broker-dealer and mutual-fund subsidiaries as it bets the Mexican congress will approve structural reforms that will make the local stock market a more attractive destination for investors.

Citibank raises Mexico stocks to "neutral"

Bloomberg - Mexico stocks were raised to “neutral” at Citigroup Inc. on the outlook that the U.S., the country’s biggest export market, will rebound from a recession faster than investors estimated. Strategists predicted the Bolsa index will rise to 35,000 by the end of 2010, up from a prior estimate of 33,000.

OHL is favored to win water purification project

Bloomberg - Obrascon Huarte Lain is the favorite to win a contract to build the world’s largest water purification plant in Mexico. OHL has teamed up with Brazilian partner Sabesp to bid for the contract to build the facility which will require investment of $700 million.

Mexico hedges 230 million barrels of oil for 2010

Reuters - Mexico has hedged 230 million barrels of oil exports for 2010 in an effort to provide stability for the federal budget, Finance Minister Agustin Carstens announced Tuesday. The volume represents nearly all of Mexico's anticipated net oil exports.

Senate pushes action on media reform into 2010

El Semanario - Senate changes to the Broadcasting Act will have to wait until 2010, since the body yesterday in the absence of a consensus among different political forces postponed the issue to be addressed in the 2010 session.

Alsea says it will appeal order to buy Italiannis

El Semanario - Alsea, an operator of fast food restaurants, has filed an appeal against a judge's order that requires it to honor a contract to buy the Italiannis restaurant franchise in Mexico.

Telmex, Televisa cases reported to take too long

El Semanario - The president of the National Chamber of the Cable Telecommunications Industry (Canitec), Alejandro Puente Cordoba, said the Comision Federal de Competencia takes too long in acting on charges of monopolistic practices against Telmex and Telcel. CFC currently has six open cases.

Tradeco group wins bid for Manzanillo LNG rail line

Sentido Comun - Tradeco Infrastructura, together with companies in the Technical Innovations Foundation, Unión Presforzadora and Promotora y Desarrolladora Mexicana, won the bid to build the rail line at the LNG regasification terminal at Manzanillo.

Passengers at OMA airports decrease 10.9 percent

Sentido Comun - Grupo Aeroportuario del Centro Norte, or OMA, the smallest of the three airport operators listed on the stock exchange, reported a 10.9 percent drop in passenger traffic at its 13 terminals during the month of November compared with the same month of 2008.

GAP airports see 2.9% fewer passengers in November

Sentido Comun - Grupo Aeroportuario del Pacifico said that the number of passengers who visited its air terminals fell 2.9 percent in November over the same month last year. The decrease was the 20th in a row since May 2008.

Syndicate content