201810.02
0

TLA Times – October 02, 2018

in TLA News

SNAPSHOT

Cellphone subscriptions per 100 people in Guatemala.
 

Source: data.worldbank.org

EXCHANGE RATE
 

 

 

 

 

 

 

 

Figures from Sep. 27 Source: www.xe.com

FUN IN THE SUN

Cenote Xkeken the gateway to another world.
  
The Yucatan Peninsula is pocked with sinkholes, or cenotes, which the Mayans believed were a gateway to the underworld and the afterlife. These natural wonders are filled with clean water, and many are breathtaking. And yes you can swim in them. Cenote Xkeken is one of the most stunning. It is located near the town of Valladolid, home to a number of resorts including the Hotel El Mesón del Marqués. The hotel is part of a former colonial mansion. Details
 
Cenote Xkeken, Yucatán
CHILE

Mega desalination plant given OK following long review.

Environmental officials in Chile have given the thumbs up for a $500 million desalination plant, Reuters reports via Business Insider. Trends Industrial's ENAPAC plant, which had been under review for a year, will be the largest desalination facility in Latin America. The plant will provide water for the mining and industrial areas in the northern part of the country, which is home to some the world’s largest copper deposits. Details

BRAZIL

Brazilian state oil company agrees to hundreds of millions in fines. 

Petrobras, reeling from a scandal after it was revealed the state oil company bribed Brazilian officials, has agreed to pay more than $800 million in fines, The Associated Press reports via U.S. News and World Report. About 80 percent will go the Brazilian government with 10 percent going to the U.S. Justice Department and 10 percent going to the   Securities and Exchange Commission. The company says that none of the individuals involved in the bribery scandal remain with Petrobras.  Details

COSTA RICA

Strike over tax reform begins to take a bit out of tourist industry.

The Tico Times reports a strike that has been going since Sept. 10 is being felt by small businesses and the tourism industry. Public sector unions are striking against tax reform they say would adversely hit the working class. Protesters have been largely peaceful but have blocked major roads.  Many gas stations are a low on fuel, and business men worry the unrest will scare off tourists. Details

MEXICO

BlackRock completes acquisition of Citibanamex asset operations.

New York-based BlackRock, the world’s largest private equity fund, has completed a deal for Citibanamex’s asset management operations, Business Wire reports via the Odessa American in Texas. Citibanamex is a subsidiary of Citigroup and had about $34 billion under management that was primarily invested in the retail estate sector. The deal was announced last fall but needed the OK from regulators.  BlackRock manages about $184 billion in client assts in Latin America. Details

Deal with private equity fund will bring 20 Sleep Inns to Mexico.

Hotel Management reports that Choice Hotels Mexico and SI Operaciones, a private equity fund based in Mexico, have entered an agreement to develop 20 Sleep Inns, including expansion in larger cities such as Mexico City and Guadalajara. The agreement will add about 2,000 rooms and triple Sleep Inn’s presence in Mexico. Choice Hotels began operating in Mexico in 2004 and runs 35 hotels under a variety of brands. Details