REUTERS SUMMIT-Latam markets jolt from a Fed exit should be brief

Reuters - Friday 24th May, 2013

By Daniel Bases and Krista Hughes May 24 (Reuters) - Latin America should suffer just a short, sharp shock to its financial markets when the U.S. Federal Reserve starts to taper its super easy monetary policy as investors remain convinced of ...

Mexico oil output holds steady in April at 2.518 mln bpd

Reuters - Friday 24th May, 2013

MEXICO CITY | Fri May 24, 2013 5:07pm EDT MEXICO CITY May 24 (Reuters) - Mexico's state oil monopoly Pemex said on Friday it produced an average 2.518 million barrels of crude oil per day in April, just up over March's daily average of 2.516 million ...

Mexican national sentenced to 12 years for meth distribution

General Sources - Friday 24th May, 2013

Nelson Fernando Garcia-Soto, 39, was sentenced Friday to 148 months in prison for possession and intent to distribute over 50 grams of methamphetamine, U.S. Attorney Wendy J. Olson announced. Garcia was a Mexican national living in Boise until his arrest in 2011. In addition, Chief U.S. District Judge B. Lynn Winmill ordered Garcia to serve five years of supervised probation. According to ...

Broader Mexican eInvoicing Mandate Looms Potential to Affect a Half-Million Companies

General Sources - Friday 24th May, 2013

Atlanta, GA, May 24, 2013 (GLOBE NEWSWIRE) -- With Mexico's Servicio de Administracion Tributaria (SAT) expected to announce - perhaps in the next weeks - expansion of an electronic invoicing mandate, companies need to begin planning for transition now to avoid non-compliance and costly fines, says Scott Lewin, CEO of Invoiceware International, a leading Latin American eInvoicing ...

Tijuana cartel leader pleads guilty

General Sources - Friday 24th May, 2013

SAN DIEGO — One of four brothers who ran Tijuana’s notorious Arellano Felix drug cartel for nearly 20 years pleaded guilty in San Diego Friday to federal charges of conspiracy to launder money and conspiracy to invest illicit drug proceeds. Eduardo Arellano Felix, 56, faces a maximum of 15 years in prison when he is sentenced Aug. 19. U.S. District Court Judge Larry Burns told the ...

RPT-Mexicos current account deficit narrows in Q1

Reuters - Friday 24th May, 2013

MEXICO CITY May 24 (Reuters) - Mexico's current account deficit notched $5.53 billion in the first quarter, the central bank said on Friday, narrowing from the fourth quarter of last ...

Mexican homebuilder Urbi seeks to reduce impact of payment freeze

Reuters - Friday 24th May, 2013

MONTERREY, Mexico | Fri May 24, 2013 1:51pm EDT MONTERREY, Mexico May 24 (Reuters) - Troubled Mexican homebuilder Urbi, struggling with flagging sales and a heavy debt load, said it is looking to minimize the impact of a suspension in payments from state mortgage-lenders to Urbi and two other homebuilders. Two state mortgage-lenders, Infonavit and Fovissste, on Thursday stopped payments ...

Fitch Rates Famsas Usd$250mm Notes B+rr4

Reuters - Friday 24th May, 2013

(The following statement was released by the rating agency) MONTERREY/NEW YORK, May 24 (Fitch) Fitch Ratings assigns a 'B+/RR4' rating to the 7.25% USD250 million notes, due 2020, issued by Grupo Famsa, S.A.B. de C.V. (FAMSA). Fitch currently ...

RCO prices first Mexico toll-road bond since 2006

Reuters - Friday 24th May, 2013

By Paul Kilby Fri May 24, 2013 12:31pm EDT NEW YORK, May 24 (IFR) - Red de Carreteras de Occidente (RCO) has put to bed a rare international toll-road bond out of Mexico, playing its role in developing a new asset class for corporate peso bonds distributed to both foreigners and locals and creating more complex project structures. RCO's Ps7.5bn 15-year amortiser is thought to be the first ...

UPDATE 1-Investors trim flows into Mexico in first quarter

Reuters - Friday 24th May, 2013

MEXICO CITY, May 24 (Reuters) - Foreign investors nearly halved their investment in Mexican stocks and bonds in the first quarter compared to the same period last year, central bank data showed on Friday, scaling back from record heights. ...

Mexican peso falls to lowest level since mid-March

Reuters - Friday 24th May, 2013

MEXICO CITY, May 24 (Reuters) - Mexico's peso fell sharply on Friday to its lowest level since mid-March. The peso dropped 1.28 percent to trade at 12.549 pesos per ...

EMERGING MARKETS-Latam FX drops as data adds to fear of Fed ...

Reuters - Friday 24th May, 2013

RIO DE JANEIRO, May 24 (Reuters) - Latin American currencies fell on Friday as strong U.S. manufacturing data added to fears of a possible tapering of U.S. stimulus, which provide a steady source of dollars seeking higher returns in emerging ...

Fitch Affirms Digicels Ratings Outlook Stable

Reuters - Friday 24th May, 2013

(The following statement was released by the rating agency) MONTERREY/NEW YORK, May 24 (Fitch) Fitch Ratings has affirmed the ratings of Digicel Group Limited (DGL) and its subsidiaries Digicel Limited (DL) and Digicel International Finance ...