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 by state and federal budgets,'’ said Slim, who controls America Movil SA, Telefonos de Mexico SA, banking firm Grupo Financiero Inbursa SA and industrial company Grupo Carso SA.
More: quote.bloomberg.com
MEXICO'S WATER ALWAYS A CONTENDER
What makes the village of Mexico's water taste so good?
That's the question raised by Mexico's winning the Oswego County Health Department's drinking water contest yet again.
Mexico's and Sandy Creek/Lacona's water was judged best-tasting in 1991. Mexico won the honor alone in 1992, 1993, 1999, 2000, 2001, 2002, 2004 and 2005.
Mexico, Sandy Creek/Lacona, Pulaski, Oswego and Orwell entered the latest contest in May at the Lake Ontario Bird Festival.
The water was judged in an informal taste test. Visitors to the festival sipped from unmarked cups of water and noted their first and second choices. 112 people voted
Iberdrola targets further 1 bln usd investment in Mexico until 2010
Iberdrola SA said it plans to invest a further 1 bln usd in Mexico until 2010, following investments of 2.8 bln over the past six years, bringing the total to 3.8 bln usd over 1999-2010.
In a statement, Iberdrola quoted chairman Inigo de Oriol as saying that the company will continue bidding for contracts from the Mexican state-owned electricity utility CFE over the next few years.
De Oriol was speaking with President Vicente Fox at the opening of two new combined cycle power plants in Mexico.
More: forbes.com
Mexico City's Water Supply for 9 Mln Threatened by Faulty Pipes
The stone remains of an aqueduct built by the Aztecs remind Mexico City residents of the capital's longtime dependence on outside sources for water.
Five hundred years later, Mexicans can't ensure the city, North America's largest, is getting the water it needs.
Broken pipes leak more than a third of the water the city's 9 million residents consume, said Juan Carlos Guasch, technical director for the city's water system. The neighboring state of Mexico, the main supplier, says the city is taking more than double its allotment because of
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
Mexico govt sees cost of rebuilding economy after Hurricane Stan at 1.85 bln usd
President Vicente Fox estimated the cost of rebuilding the economies of the Mexican states hit by Tropical Storm Stan at 20 bln pesos (1.85 bln usd).
Stan slammed ashore as a hurricane in Mexico's state of Veracruz on Tuesday.
Seven states in Mexico's south -- the poorest region of the country -- were affected by the storm. At least 24 Mexicans were confirmed dead.
An estimated 2 mln people were affected by the storm, with 300,000 evacuated to emergency shelters and other temporary housing.
Source: forbes.com
Mexico leftist urges campaign cash for Stan victims
The leftist leading the race for Mexico's presidency urged political parties on Thursday to cut spending on elections next year and instead donate cash to victims of a hurricane that hit southern areas.
It was the latest in a series of gestures from Andres Manuel Lopez Obrador, the former mayor of Mexico City, which have won him support from millions of Mexico's poor.
Lopez Obrador said his Party of the Democratic Revolution would ask Mexico's electoral watchdog IFE to reduce the amount it will spend on the election by 10 percent.
"We would be talking about
UPDATE 1-Mexico Congress OKs $184 bln balanced 2006 budget
Mexico's Congress on Tuesday approved a $184 billion balanced budget, the first spending plan in a decade with no deficit, but lawmakers rejected President Vicente Fox's more ambitious proposal to end his last year in office with a budget surplus.
The lower house of deputies passed the budget, adding about $8 billion in additional funds to Fox's original proposals for education, infrastructure and reconstruction after Hurricanes Stan and Wilma devastated parts of southern Mexico and its Caribbean coast resorts.
Fox initially proposed a budget surplus of 0.2 percent of gross domestic product in 2006,
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 TV Azteca to prepay 1.4 bln pesos of debt
Mexico's No. 2 broadcaster TV Azteca said on Friday that this month it will prepay 1.406 billion pesos ($131 million) of debt with local bank Banco Inbursa that is due to expire in 2008.
Azteca (TVAZTCACPO.MX: Quote, Profile, Research)(TZA.N: Quote, Profile, Research), owned by media and retail magnate Ricardo Salinas, said it was funding the debt prepayment with the proceeds of a bond issue in Mexico. ($1 = 10.694 pesos)
More: today.reuters.com
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
