EXCLUSIVE Mexico is star of Top 100 Pension Funds
Last year, Mexican companies raised $9.8 billion, as much as the previous four years combined
Mexican pension funds are the stars of the latest ranking of Latin America’s Top Pension Funds by Latin Business Chronicle. Mexico’s XXI Banorte was the pension fund that saw the largest growth among the region’s top 15 pension funds, seeing its assets grow 144.6 percent over 2011 to $19 billion. But in terms of numbers, our list is dominated by Brazilian firms, who account for 58 out of 100 firms.
EXCLUSIVE Latin Trade Symposium and Bravo Awards
Keynote address to be given by Guatemalan President Otto Pérez Molina
Latin Trade Group is presenting the 19th annual Bravo Business Awards and Latin Trade Symposium, on Friday, October 25, at the Four Seasons hotel in Miami. This year's event will see regional CEOs discuss the emergence of multilatinas on the world stage, innovative collaboration, strategic regional alliances, and this year's Bravo Award winners.
Fitch upgrades Peru to BBB+
Agency cites country's growth, stability and fiscal balance
Fitch Ratings upgraded Peru's credit rating one notch closer to investment grade to BBB+, with a stable outlook. The agency cited Peru's fiscal balance sheets, record of growth, stability, and continued pragmatism under President Ollanta Humala (left). Peru is currently rated BAA2 by Moody's, with positive outlook, and BBB+ with stable outlooks by Standard & Poor's, Reuters reports.
Brazil sells $3.2 billion worth of bonds for overseas buybacks
Three firms have issued $2.1 billion of notes in the past week
Brazil sold $3.2 billion of dollar bonds due in 2025, creating a new benchmark security in international markets, as it buys back notes maturing in as few as four years. Brazilian construction firm OAS, iron-ore processor Samarco Mineracao and meatpacker JBS have issued $2.1 billion of notes over the past week, Bloomberg reports.
Walmart de México posts meager third quarter growth
Economic situation in country hits grocery stores the hardest
Walmart de México fell short of forecasts after it posted net profits of $408 million for this year's third quarter. The amount is slightly higher than the $404 million posted for the same period last year. The company said total sales in its Mexican stores grew 1.7 percent on the year in the quarter, however, Central America stores fared better with a 6.4 percent growth, MarketWatch reports.
Experts see changes ahead for Mexico, Brazil and Venezuela Oil & Gas Journal
IMF says Brazil needs investment and competitive boosts France 24
Curacao as hub to Latin America Curacao Chronicle
Goldcorp gets green light for Chilean mine Metal Miner
Stora Enso falls as Uruguay mill opening delayed Bloomberg
Brazil signs film cooperation accord with South Korea Hollywood Reporter