Mexico’s Cemex says under US investigation, shares drop

03/14/2018 Financial Times

CEMEX_altaShares in Mexican buildings materials company, Cemex, tumbled more than 2 per cent after the company announced it was under investigation by the US Department of Justice.

The probe relates to whether Cemex violated the Foreign Corrupt Practices Act in relation to the construction of a plant in Colombia. The investigation, over alleged irregular payments, dates back to 2016.

Cemex said it would comply fully with the investigation but was not yet able to say if there would be any sanctions and if there were, what their impact would be.

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Amazon launches first debit card in Mexico e-commerce push

03/13/2018 Reuters

amazon_topicMEXICO CITY (Reuters) – Inc launched its first-ever debit card on Tuesday in Mexico, part of a push to encourage shoppers without bank accounts to buy online.

Internet retailers and brick-and-mortar chains in Mexico are investing heavily in e-commerce as the sector gains in popularity, although it is still a small fraction of total retail sales.

Part of the challenge is attracting consumers who are wary of online fraud and do not have access to credit and debit cards. Less than a third of adults in Mexico have credit cards, according to a 2017 government report.

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Mexican regulator seeks to ratchet up telecoms competition

03/08/2018 Reuters

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MEXICO CITY (Reuters) – The Mexican telecom regulator’s latest step to pry open the vast infrastructure controlled by the country’s dominant telecoms firm, America Movil (AMXL.MX), will have major consequences for both the company and its competitors, experts say.

On Monday, the Federal Telecommunications Institute (IFT) approved a plan to separate part of America Movil’s fixed-line units into new companies, after about a year of discussion.

America Movil, controlled by the family of billionaire Carlos Slim, has long been required to share its infrastructure with rivals, who cannot match the company’s network. But competitors have complained that they have not received the access they need

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Pemex CEO Carlos Treviño sees future in oil production partnerships

03/08/2018 Houston Chronicle 


Pemex, Mexico’s state-owned energy company, is in the throes of transformation. An overhaul of the nation’s energy policies in 2013 and 2014 opened its energy industry to foreign investment, prompting Pemex to enter new partnerships and streamline its operations in the face of new competition.

CEO Carlos Treviño, who took the helm in November, sees a future for the company in oil production and partnerships. Earlier this year, Pemex partnered with BHP Billiton on its Trion project, a deepwater discovery in the Gulf of Mexico. The company plans to open a bidding round for certain onshore projects in the coming weeks and expects to seek new partners for shallow and deepwater projects in the coming years.

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Mexico slaps billionaire’s steel company with fine for stock manipulation

02/26/2018 Reuters

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MEXICO CITY (Reuters) – Mexico’s securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed.

Industrias CH was fined 2.96 million pesos ($159,764) at the end of November for making “prohibited trades” under a law banning simulating price or volume, or effectively trading with itself, according to publicly available data on the website of Mexican banking and securities regulator CNBV.

Industrias CH investor relations manager Jose Luis Tinajero and subsidiary Simec were also fined, and the database entries for their fines were more specific, citing “various buy and sell trades that constituted simulation trades in terms of traded volume.”

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Mexico’s Bimbo sees cash boost from U.S. tax reform, pledges more investment

02/23/2018 Reuters

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MEXICO CITY, Feb 23 (Reuters) – Mexican breadmaker Bimbo on Friday said it expects a positive impact on its cash flow due to a recently approved tax reform in the United States, one of its principal markets, and will invest $800 million this year.

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Mexican finance minister, Pemex chief to meet investors in New York

02/25/2018 Reuters

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MEXICO CITY (Reuters) – Mexico’s finance minister and the head of the state oil firm will meet investors in New York in the next few days, the company said on Sunday, at a time of political uncertainty over the future of the opening of the sector to private firms.

State-owned Pemex said Chief Executive Officer Carlos Trevino and Finance Minister Jose Antonio Gonzalez, who was the previous CEO, will meet with financial sector executives to promote the company’s business plan and internationalization.

Mexico has awarded contracts potentially worth billions of dollars since opening up oil and gas production and exploration to private capital in 2013-14, but a presidential election in July has cast doubt on whether the liberalization will persist.

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