August 23, 2008 |
Direct foreign investment in Mexico has fallen and officials blame it partly on the U.S. economic downturn. Mexico's Economy Department said direct foreign investment fell to $10.5 billion in the first six months of this year. That's a 20% drop from the same period a year before.
August 16, 2008 |
Foreign stocks had been the shining stars in many U.S. investors' portfolios from 2003 through 2007. This year, they're beginning to look like black holes. With the global economic outlook fading and the dollar rebounding, Americans' foreign holdings are suffering a double-whammy. If you haven't checked your portfolio lately, you may be in for a shock. The average foreign stock mutual fund has plunged 18.1% year to date, according to Morningstar Inc. That's more than double the 8.
August 15, 2008 |
The once-struggling U.S. dollar suddenly is the strongman of the world's major currencies. That's great for Americans' purchasing power -- but if you've noticed, it's a heavy blow to the foreign stock holdings in your portfolio. And because U.S. investors have pumped huge sums into foreign-stock mutual funds in recent years, this turnabout in the dollar may be much more painful for your nest egg than previous rallies in the currency.
August 7, 2008 |
Two government-owned investment firms in Dubai have acquired a 20% stake in the colorful Canadian acrobatic troupe Cirque du Soleil, furthering the desert city's plans to expand its tourism appeal and lengthening its list of foreign investments. Istithmar World, the investment arm of Dubai World, and real estate developer Nakheel said Wednesday that they bought the stake in the Montreal-based group for an undisclosed sum. Under the deal, the rest of the business will remain under the ownership of Guy Laliberte, founder of the troupe known for mixing traditional circus acts with dance, music and theater.
August 2, 2008
The results of a recent referendum on permitting foreign investment in the state oil company are the latest indication that Mexican President Felipe Calderon is having a hard time selling his energy reform plan. Between 80% and 90% of voters shot down a proposal he has touted as vital to his country's future.
July 23, 2008 |
Viacom Inc.'s Paramount Pictures created a division to buy and co-produce movies developed outside the U.S., an effort to tap faster-growing international film markets. The unit will initially focus on territories where Paramount already distributes films, the Los Angeles studio said. Those include Britain, France, Spain, Australia, Japan and Latin America.
June 19, 2008 |
The United States and China, concluding high-level economic talks, agreed to launch negotiations on an investment treaty that holds out the promise of greatly expanded opportunities for U.S. companies in China's vast market. The two countries also pledged greater cooperation to deal with energy shortages and global pollution. The agreements were announced Wednesday by Treasury Secretary Henry M. Paulson Jr.
April 19, 2008 |
In the race to bring Chinese vehicles to the North American market, Chamco Automotive has hit some major-league potholes. Just last year, Chamco (that's short for China America Cooperative Automotive Inc.) seemed to be riding high in its quest to have two Chinese-made products in U.S. showrooms this year: a compact pickup and a mid-size SUV. It had lined up a supplier in China and rounded up millions in capital from investors.
April 16, 2008 |
Venezuela moved Tuesday to take a greater cut of windfall oil profits, approving a 50% tax on foreign oil companies when crude tops $70 a barrel. The tax rate would rise to 60% when the average monthly price for crude exceeds $100, according to the bill approved by the National Assembly. Revenue from the tax could reach $9 billion annually, Oil Minister Rafael Ramirez said. "That's why, for the executive branch, it is urgent to create this law," Ramirez said.
March 27, 2008 |
Mexico's oil has long been a source of national pride. Now, with reserves dwindling away, President Felipe Calderon has floated a controversial initiative to rescue the government oil giant, Pemex: allow foreigners to help the company drill for oil. The debate over "energy reform" has split Mexico's political class, with the left threatening national civil disobedience to stop Congress from considering it and a key centrist ally of Calderon withdrawing its support.