Standard&Poor’s raised its credit rating for Cemex, the world’s third-largest cement maker, to investment grade, reflecting the country’s growing international operations. This reduces exposure to its home market and should […]
Category: 2000
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It’s Currency That Counts
Argentina’s currency board maintains strong local support but receives mixed reviews internationally. Andrew Powell, chief economist at the Central Bank of Argentina, defends the system.
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ZonaFinanciera.com Appoints New CEO
ZonaFinanciera.com, the personal finance portal, chose Eric Daniels as its new chief executive officer. His predecessor, Greg Keough, remains as chairman of the company. Daniels spent 25 years at Citicorp […]
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CIE Adds to Entertainment Holdings
Corporación Interamericana de Entretenimiento paid $50 million for an 85% stake in Latin Entertainment, a holding company that owns the sports and entertainment site Elfoco.com and Correoweb.com, a portal and […]
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Latin Auction Site Reels in Financing
MercadoLibre.com, the auction site, raised $46.5 million in second round financing from six major international investors. They are: GE Equity, Banco Santander Central Hispano, Chase Capital Partners, Flatiron Partners, Hicks, […]
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Colombia Fights to get its Message Across
Colombia has not looked this bad for many years. Civil conflict, a deteriorating economy and political disarray are keeping investors away. Bogotá has a tough sales job.
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Latin Indices Track Nasdaq but Chile Gets a Boost
Stock prices in Santiago moved sideways most of the year until the government announced in May that it was relaxing controls on foreign investment, originally set up to insulate Chile […]
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Consortium To Power Metals Producer
Alstom, the French-British power contractor, and Sithe Energies won a $300 million contract to build a power plant in Mexico for Industrias Peñoles, the world’s biggest silver producer. Alstom and […]
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Laws to Enforce a Payment Culture
Mexico has Latin America’s strongest economy but one of the region’s weakest banking systems. New legislation is meant to encourage lending, but politics and capricious courts remain an obstacle.
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Constructing Credit
Demand for technology and power supplies in Latin America is luring banks back to the project finance market. Lenders are still cautious, but prospects in Brazil and Mexico look more favorable.