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Fitch Assigns IDR of BB- to Banco de los Trabajadores in Guatemala
Accounting Rules May Encourage Short-Term Leases The latest lease-accounting proposals from international and U.S. standard-setters, designed to aid transparency and consistency, may encourage companies to shift to short-term leases or structure agreements as service contracts, Fitch Ratings says. This could mean that fewer leases than originally anticipated will be brought onto the balance ...
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Philip Morris to buy out Carlos Slims stake in Mexican JV
from their Mexican joint venture for about $700 million (462 million pounds).Grupo Carso will sell its 20 percent stake in Philip Morris Mexico in a deal that the U.S. company said would add marginally to its earnings per share in the fourth quarter.Philip Morris said the agreement was subject to final price adjustments based on the Mexican unit's performance over a period of time."We ...
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New construction in tourism industry – signs of recovery or misplaced optimism?
The whole of Central America has been affected by the global downturn. One of the industries effected most has been tourism, and while many construction and expansion projects were planned during the heady days of 2007 and early 2008, the region may now be facing a huge oversupply problem in terms of hotel accommodation, although there are signs of light on the horizon.
In 2006, the Tourism Ministers of various countries in the region came together at San Ramon for a conference and told Central American news providers that the tourism industry for the region as whole had grown by an average of 11%, which account for, on average, 5% of the region’s GDP for that year, in addition, there was astounding growth in the number of European tourists travelling to Central America, a 147% increase in fact. Read more
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