Mexicos Slim to invest $560 mln in Peru mobiles
Carlos Slim, the Mexican tycoon who controls leading Latin American cell phone company America Movil (AMXL.MX: Quote, Profile, Research) (AMX.N: Quote, Profile, Research), said on Monday he would invest about $560 million in Perus mobile phone sector in the next two years.
We are investing a great deal in the mobile phone network and we will continue investing, as I mentioned to the president, about $280 million per year in the next two years, Slim told reporters after meeting with Peruvian President Alan Garcia.
Penetration here is relatively low compared with other Latin American countries. The average in Latin America is that one in two Latin Americans has a mobile phone, and we think we can reach this level in the short term in Peru, Slim said.
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Mexico's Slim Urges Spending Up to $2 Bln on Mexico City Water
Mexico's Carlos Slim, Latin America's wealthiest businessman, said he's pushing for a combination of government and private investment to spend as much as $2 billion to ease Mexico City's water shortage.
Slim has a three-point plan to increase the supply of water in the Valley of Mexico by fixing leaky water pipelines, capturing rainwater in reservoirs and building water treatment plants, he said following an event on improving Mexico City's downtown area.
``This is where it makes sense for private investment to support these projects so they're not limited
Mexico tycoon to donate for health projects
Mexican billionaire Carlos Slim, the worlds third-richest man, will give away a chunk of his fortune by matching donations to health, education and social programs in Mexico, a close aide said on Wednesday.
Slim, who owns a telecoms and retail empire and has a fortune estimated at over $30 billion, will meet all contributions dollar for dollar, said Arturo Elias Ayub, his spokesman and aide.
We want to offer Mexican or foreign foundations that we will match any amount they invest in social work in Mexico, Elias Ayub said. It was unclear how much
Mexico Should Sell Pemex's Refinery, Chemical Units, Slim Says
Mexico, the world's No. 6 oil producer, should sell stakes in the petrochemicals and refinery units of state-owned Petroleos Mexicanos to private investors to help free up funds and increase output, billionaire Carlos Slim said.
Pemex, Mexico's only oil company, will need to remain in government hands because of its importance to the economy, Slim, the country's richest man and the world's fourth wealthiest, said in an interview in New York. The Mexican government should insulate Pemex from politics by appointing professional managers and independent board members, Slim said.
``Pemex is the
Mexico's Slim not worried about Venezuela risk - spokesman
Mexican telecommunications magnate Carlos Slim isnt worried about political risks in moving his Latin American communications network into Venezuela, a spokesman said Friday.
Monday, Telmex (TMX) and America Movil (AMX) said they will buy Verizon Communications (VZ) 28.5% stake in Venezuelas CA Nacional Telefonos de Venezuela SA (VNT), or CANTV, for $676.6 million through a joint-venture.
Arturo Elias Ayub, a spokesman for Slim, shrugged off concerns about political risk in Venezuela, where the government of President Hugo Chavez has been changing the rules for oil and other companies.
Were confident in the
Slim Persuades Mexico's Roberto Madrazo to Sign National Accord
Carlos Slim, Mexico's richest man, persuaded presidential candidate Roberto Madrazo to sign a national accord that ha backing from both union and business leaders.
The 12-page National Accord for Unity, Law, Development, Investment and Employment calls for cutting energy costs, overhauling the legal system and investing more in roads, said a spokesman for the accord. Slim, 65, is asking candidates to endorse the program to spur economic growth in Latin America's second-biggest economy.
Madrazo is running second to Andres Lopez Obrador according to a November Consulta Mitofsky poll. Lopez Obrador, the former
Mittal Steel may invest $235 mn in Mexico planthindustantimes.com
Mexico, Peru criticize Japan's handling of Fujimori matter
Mexico and Peru are expressing irritation at the way Japan has handled the case of former Peruvian President Alberto Fujimori, who claimed Japanese citizenship during his five years in exile in Tokyo.
Mexican Foreign Minister Luis Ernesto Derbez said late Thursday that he'd filed a protest asking Japan to explain why it didn't notify Mexico that Fujimori's plane had a scheduled refueling stop in Tijuana en route to Chile.
Also on Thursday, Peru announced that it had withdrawn its ambassador to Japan, Luis Macchiavello, to protest a Japanese delegation's visit with Fujimori
One of the world's richest men, Carlos Slim, has drawn up a plan with a group of businessmen to boost economic growth in Mexico, despite uncertainty ahead of presidential elections next year.
The El Economista newspaper said on Wednesday that Slim and other top corporate leaders will publish a "national agreement" on Sept. 29 to carry out long-awaited economic reforms.
The plan also proposes that state-owned companies end their dependence on public financing and maintain their distance from political interests.
Slim's companies, such as telephone carrier Telmex (TELMEXL.MX: Quote, Profile, Research)(TMX.N: Quote, Profile, Research) and cellphone firm America Movil (AMXL.MX: Quote, Profile,
Bayer Will Invest 100 Million Euros in Mexico Through 2008
Bayer AG, Germany's second-biggest drugmaker, will invest about 100 million euros ($122 million) through 2008 to boost its health-care and plastics businesses in Mexico, where the company's sales have doubled over the past 10 years.
Sales in Mexico are growing at almost twice the pace of Bayer's revenue elsewhere in Latin America, the Leverkusen, Germany-based company said today in an e-mailed statement. Revenue in Mexico rose 44 percent during the first six months of the year to 285 million euros, it said.
``Mexico has assumed the role of growth driver for
Mexico should sell stakes in Pemex, billionaire says
Mexico, which nationalized its oil industry in 1938, should sell stakes in the petrochemicals and refinery units of state-owned Petróleos Mexicanos to private investors to help free up funds and increase output, billionaire Carlos Slim said.
Pemex, Mexico's only oil company, will need to remain in government hands because of its importance to the economy, Slim said in an interview in New York. The Mexican government should insulate Pemex from politics by appointing professional managers and independent board members, Slim said.
"Pemex is the main tool of fiscal and monetary policy and a leverage for
