Grupo Mexico Will Sell Highway Business for $406 Million
Grupo Mexico, the copper mining conglomerate controlled by Mexican billionaire German Larrea, will sell its highway business for 7.7 billion pesos ($406 million) to local investment trusts FIBRAeMX and FEXI in the latest move to restructure the company.
Proceeds from the sale of around 80% of Concesionaria de Infraestructura del Bajío, known as CIBSA, and some 99% of shares of Operadora de Infraestructura del Bajío, or OIBSA, will go toward investment projects in Mexico and be spread across the company's other businesses, Grupo Mexico announced in a statement on Friday.
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Chinese-backed militia safeguarding new rare earth mines in Myanmar
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Five key points for London from Spending Review
It is no secret that the mayor of London was not pleased with what was - or rather, what was not - in the government's recent Spending Review. Sadiq Khan's wish list, including money for new transport infrastructure projects, was surrounded by tumbleweed. An increase in police funding - unlikely to fill the Met's budget black hole - offered cold comfort, and there were slim pickings for council finances. The government would disagree with his outlook, pointing to investment in affordable homes, free school meals and the NHS. So let's take a closer look at the offerings for the capital. Transport Transport for London (TfL) is getting a four-year spending settlement of £2.2bn. It's a big deal because in recent years, not knowing how much government funding it would be getting beyond the next year TfL has struggled to plan ahead. TfL commissioner Andy Lord said having four years of cash guaranteed meant TfL could now complete the introduction of new trains on the Piccadilly line and Docklands Light Railway (DLR), and new signalling on 40% of the Tube. He said it can now procure a new tram fleet, progress discussions on new Bakerloo line trains and can get to work on renewing some of London's critical roads, tunnels and flyovers. Infrastructure In bad news for City Hall, no cash was allocated for the new transport infrastructure projects Sir Sadiq had been pinning his hopes on. These included the DLR extension to Thamesmead, the Bakerloo line extension to Lewisham and the West London Orbital between Hendon and Hounslow. This spending review was about the government's priorities and it was clear new London-based transport projects were not on that priority list. Instead, it pointed at old infrastructure announcements we already knew about -Heathrow expansion and HS2 to Euston. 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From next year London will get an integrated settlement, bringing it in line with how funding works for combined authorities in some other parts of the country. So instead of the Greater London Authority getting different pots of cash from central government for, for example, housing or policing, which has to be spent on those areas, the mayor will get one budget pot and the GLA will decide how to spend it. Winners and losers: Who got what in the spending review? Why London councils want more Spending Review cash Could this be London's property hotspot in 2040? Leaks and crumbling ceilings: Met says half its buildings face closure
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Grupo Posadas' Fiesta Americana debuts on the Riviera Nayarit
Grupo Posadas has officially unveiled the Fiesta Americana Nuevo Vallarta Resort & Spa, marking the brand's expansion into Riviera Nayarit with the transformation of the former Wyndham Alltra property. Twenty minutes from Puerto Vallarta Airport, the revamped resort welcomes travelers with 229 suites, new dining concepts and amenities designed for families, couples and groups. One of the major highlights of the rebrand is the revamped culinary program led by Grupo Posadas corporate executive chef Gerardo Rivera. Dining venues include El Mexicano for Mexican cuisine, Rosato for Mediterranean-Italian fusion, San Telmo for grilled options and Efisia for Greek-inspired cuisine, alongside poolside and beachfront bars. The resort also features three oceanview pools, a kids' club, Miluma Spa and the Fiesta Club level with additional amenities.
