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Ecuador's liquid foreign currency (forex) reserves increased to $1.996 bln (1.694 bln euro) on November 18, 2005 from $1.979 bln (1.68 bln euro) on November 11, 2005, the central bank of Ecuador BCE said on November 21, 2005.

Mortgage loans in Mexico are seen to rise 17 pct year-on-year in 2006, representatives of Mexican real estate companies and mortgage lenders said on November 20, 2005 in Madrid, at a Forum of Latibex index trading companies.

Mexico’s state-run oil monopoly Petróleos Mexicanos (Pemex) reported a record surplus of US$18,275 million between January and October 2005, up 20% year-on-year. In a report, the company said its hydrocarbon and derivative exports added US$26,020 million, while oil-product, petrochemical and natural gas exports totaled US$7,745 million in the same period. Exports between January and October exceeded by US$2,263 million sales abroad registered in the same months of 2004.

This article appears courtesy of Institutional Investor

This article appears courtesy of Institutional Investor

Mexico’s cement company Corporación Moctezuma is to make a stock split, seeking to increase liquidity and carry out regulations to keep operating in the Mexico City Stock Exchange (BMV). The cement maker is to divide each security into four new shares. Restructuring and exchange are scheduled for November 25, 2005. Moctezuma’s shares reached a price of P$80 on Thursday, which will be adjusted after the split, giving more liquidity.

Wal-Mart’s strong presence and its solid sales in Mexico have made retail companies see their incomes affected. In the last five days, shares of Mexico’s retailer Comercial Mexicana registered a 3.18% fall, heading losses in the Price and Quotation Index (IPC) of the Mexico City Stock Exchange (BMV).

Peruvian exports to European Union can increase by 20 percent – 25 percent in 2006 due to the benefits provided in the exports agreement outlined by Peru and the EU, said Carlos Matheus executive director of Prompex. Matheus affirmed exports to the European Union currently represent 24 percent of Peruvian overall exports.

Mexico’s remittances have represented almost half of the increase registered in flows sent to developing countries, World Bank reported. According to the World Economic Outlook report by the institution, the amount received by developing countries is likely to reach US$167 billion this year. Of that sum, Mexico would get approximately US$18.1 billion. That does not only mean almost 11% of total flows, but also, according to the document, Mexico, India and China’s remittances represented more than half of the increase registered in such capitals between 2001 and 2005.

Chilean industrial and medicine purposes gas producer AGA, owned by German diversified holding group AGA plans to invest $90 mln (76.4 mln euro) in Chile in 2006, the regional director of AGA for Chile, Argentina, Peru and Uruguay, Gaston Lewin, said on November 20, 2005.