Infrastructure
SSA plans $12 million investment at Manzanillo port
Sentido Comun - SSA Mexico, a unit of Stevedoring Services of America, said it will invest $12 million this year in its container terminal at the port of Manzanillo to improve technological processes so that it can make the port a hub for distribution.
Rainstorms nearly paralyze 200 towns in four states
El Universal - Rainstorms have nearly paralyzed more than 200 municipalities in the states of Tabasco, Veracruz, Oaxaca and Chiapas, where the overflow of rivers and reservoirs caused severe flooding. State governments are demanding more federal resources to handle the emergency.
Telmex plans to quadruple internet speeds
B
loomberg - Telefonos de Mexico, the telephone company controlled by billionaire Carlos Slim, is planning to quadruple Internet speeds for some parts of the country to as much as 20 megabits per second in an efffort to keep customers from switching to other providers.
Rains leave two missing, three bridges collapsed
Informador.com.mx - Heavy rains Monday and Tuesday on the northern coast of Jalisco left two people injured, another two missing, communities isolated and an old bridge across the Rio Ameca, another in Las Palmas and a third at Arroyo Seco collapsed.
UBS predicts Mexicana won't fly again
Bloomberg - Compania Mexicana de Aviacion is unlikely to resume operations after grounding all its flights over the weekend, four weeks after filing for bankruptcy protection in Mexico and the U.S., UBS analysts Tomas Lajous and Luis Galvez wrote today in an e-mail.
Megacable will offer quadruple play
El Universal - Megacable, the largest cable operator by the number of users in Mexico, will add to its mobile phone service by offering TV, internet and fixed telephony, for which it will use the infrastructure of Telefónica Mexico, the two companies announced.
Official accuses ex-Mexicana execs of mismanagement
El Universal - Labor Secretary Javier Lozano accused the former directors of the company that owned Mexicana Airlines with taking assets from Mexicana to build its Link and Click subsidiaries with the intention of weakening the collective bargaining agreement with pilots and flight attendants.
Fund for Mexican real estate raises $293 million
Market Watch - Prudential Real Estate Investors announced Wednesday that qualified investors have invested $293.3 million (3.69 billion pesos) in PRUMEX Industrial III, a fund created to invest in industrial real estate throughout Mexico. www.marketwatch.com/story/prei-latin-america-raises-more-than-290-million-for-mexican-industrial-strategy-2010-08-24
Cemex tumbles most in seven months
Bloomberg - Cemex, the largest cement maker in the Americas, dropped the most in seven months in Mexico City trading after plunging sales of existing U.S. homes signaled cement demand might miss expectations.
Telmex and its union both are under pressure
Dow Jones - With its sales and margins under pressure from competition, a turnaround of fixed-line phone company Telefonos de Mexico's ailing business hinges on new services like pay TV. Mexican billionaire Carlos Slim has eschewed layoffs even during deep recessions, and instead has focused on improving customer service and expanding the company's business to fit the size of its workforce.
