Mexico’s state oil company Pemex plans to issue up to 20bn pesos (US$1.8bn) of bonds, most of which will have variable interest rates, in the second quarter this year, the company said in a statement.
Category: Daily Brief
Posted inDaily Brief
Chile: Central Bank Raises Rates
Chile’s Central Bank increased its benchmark lending rate by 25 basis points to 3%, a two-year high. Central bankers said they expect to continue raising rates. International risks to the economy have increased and oil prices probably will impact inflation in the short term, the bank said. Economists expect rates to increase to 4% by year-end, according to a Central Bank survey.
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Profits Rise at Walmex
Wal-Mart de México boosted profits by 35% in the first quarter, thanks to Mexico’s biggest surge in consumer spending in four years. Net income rose to $166 million. March same-store sales rose 9.5% versus a decline of 2.7% a year earlier. Retail sales rose more than 6% a month between September and January. Walmex wants to open 70 new stores this year.
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Chile’s Consumer Prices Jump
Chile’s consumer prices climbed in March at the fastest pace in two years as rising oil prices boosted transport costs. Prices jumped 0.6 percent from February, the first increase in four months, raising inflation to 2.4 percent in the last 12 months. The report sparked speculation that Chile’s central bank would raise its benchmark lending rate again this week.
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Scotiabank Sues Argentina
Canada’s Scotiabank is demanding $600 million in compensation from Argentina in a suit filed under the United Nations Commission on International Trade Law. Scotiabank claims government policies in the 2001-2002 financial crisis forced it to close its subsidiary Scotiabank Quilmes, later sold to local investors. Scotiabank’s claim for arbitration is one more than 100 pending against Argentina.
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Flashback
Five Years Ago“The Search for the Perfect Gift Horse”It was only five years ago that the private equity market was booming as never before -or since. LatinFinance reported on the […]
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Flashback
The first issue of LatinFinance appeared in October 1988 and we are using our 15th anniversary as an excuse to revisit some of the more significant events in the markets over the last 15 years. For better or for worse, the markets and economies of Latin America have been through a lot over the years. This is how LatinFinance reported the news and events at the time.
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Sovereign Report
Uruguay Gets a Reprieve In May, Uruguay announced that 90% of bondholders had participated in its $5.3 billion bond swap, agreeing to exchange existing bonds for new ones with extended maturities. Citigroup acted as […]
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Sovereign Report
Mexican Bradys, Endangered Species Mexican Bradys are on their way out, after the finance ministry decided to call $3.8 billion-worth of outstanding dollar-denominated A and B series Brady bonds. Once the […]
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People
Enter QuirogaOn August 7, an unpretentious 41-year-old engineer wearing Bolivia’s red, yellow and green presidential sash, stood in the Casa de la Libertad in Bolivia’s capital city and took over […]