CEO: Telmex to Invest $2.05B in Mexico
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Phone carrier Telefonos de Mexico SA, also known as Telmex, plans to invest $2.05 billion next year to expand and update its network in Mexico, chief executive Jaime Chico said Tuesday.
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Consumers and investors will drive the Mexican economy this year, though a global slowdown will probably keep the country from achieving last year's growth rate, Bank of Mexico Governor Guillermo Ortiz said Thursday.
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Late yesterday afternoon, Intel announced it plans to invest as much as $1.5 billion in the retooling of its Fab 11X production site in Rio Rancho, New Mexico, so that it can produce 45-nanometer CPUs with its newly announced high-K + metal-gate transistor refinement technique during the second half of next year.
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(InfoWorld) - The future of the mobile communications industry lies inÂ emerging high-growth markets, like China and India, and companies ignore the opportunities in these countries at their own peril, Motorola's top executive said. "It's where the future is, not only for low-end handsets but forÂ mobile communications," said Ed Zander, Motorola's chief executive officer, during an interview at the International Telecommunication Union (ITU) Telecom World 2006 conference and exhibition in Hong Kong. "You've got to make the investments. It's painful in terms of cost. ... But three to five years from now you're going to look back and say it was the right thing to do," Zander said. In recent years, Motorola has worked hard to build its presence in high-growth emerging markets, investing heavily in its operations in China, India, and elsewhere. As part of these efforts, the company was awarded two contracts by the GSM Association, an industry group comprised of operators around the world, for a low-cost GSM (Global System for Mobile Communications) handset designed for emerging markets . "The press sometimes focuses on whether we can get a $20 or $10 handset, but it's the next 4 billion people that are going to get connected and all of the communications that goes with it, the infrastructure," Zander said. The rapid pace of economic growth and the large populations in these countries means that vendors cannot afford to stay away if they want to remain competitive. "You have to be in these countries. That's the bottom line. Do you want to be in business 10 years from now? Doing business in the U.S. is great. We love it. Doing business in Europe is nice. We love it. But China and these other countries is where the growth is," Zander said. Low-end products have helped Motorola build volume in emerging markets, but these countries also have sizable populations of affluent consumers, particularly in major cities such as Beijing and Mumbai. "If you're not in the country you don't get to sell this stuff," he said. Emerging markets are also an increasingly important source of research and development (R&D) for Motorola. "We have more than half our R&D outside the U.S. In China alone, we have 18 R&D centers and 3,000 engineers," Zander said, noting that these investments are not driven by a desire to reduce R&D costs or outsource operations from the U.S. "You go to India and the PhDs coming out of there are some of the best in the world, and China every year is graduating more and more students in engineering, math, and science," Zander said. "We have to be where the smart people are."
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Deutsche Telekom  plans to keep on cutting jobs and may consider small investments in emerging markets, its chief executive said in extracts of a newspaper interview released on Sunday.
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NYMEX Holdings Inc. , which owns the largest physical commodities exchange in the world, said on Wednesday quarterly profit more than doubled, helped by growth in electronic commodities trading.
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CME Group Inc , the world's  largest derivatives exchange, hopes to broaden its reach by  adding the energy and precious metals mart Nymex , the  companies said on Monday.
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Looking at Mexico's opportunities can mean making profits while others nap.
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Brad Aham, manager of the $745 million SSgA Emerging Markets Fund, said he&#39;s increasing his investments in Mexico on optimism about record oil prices, and avoiding China, where central bankers are poised to raise interest rates.
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America Movil SA, the largest provider of wireless services in Latin America, expects to launch third-generation handsets in early 2008 and spend up to $3.2 billion expanding its network over the next year, company officials said Friday.
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The Mexican government said it would sell its controlling stake in AeromÃ©xico to an investor group that includes Banamex, the Mexican subsidiary of Citigroup.
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On Monday, Mexican cement tycoon and Motley Fool Stocks 2003 pick Cemex (NYSE: CX) dropped a 70-lb. bag of quick-set on the market: It has agreed to pay $4.
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Mexico&#39;s Cemex plans to sell two cement plants in the United States to Brazil&#39;s Votorantim Cimentos for $400 million to ease its debt burden as it makes a major acquisition in Britain.
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UK firm RMC, the world&#39;s biggest maker of ready-mixed concrete, is reportedly to get a takeover bid worth at least $4bn (Â£2.2bn) from Mexican group Cemex.
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UK BUILDING materials firm and world market leader RMC has agreed to a Â£2.3 billion takeover bid from the worldâs third largest concrete-maker, Cemex of Mexico.
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A consortium of investors led by Grupo Televisa is considering a plan to make a $13 billion bid for Univision Communications.
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Mexico&#39;s Cemex agreed on Monday to buy Britain&#39;s RMC Group for 2.3 billion pounds ($4.2 billion) to double revenues at the world&#39;s No.