MEXICO CITY (Reuters) – Foreign direct investment (FDI) to Mexico during the first half of 2020 was $17.97 billion, according to preliminary figures published by the economy ministry on Sunday.
The figure represented a 0.7% decrease compared with the same period last year, the ministry said.
(Reporting by Daina Beth Solomon; Editing by Jacqueline Wong)
Rogers announces comprehensive $3 billion investment proposal to benefit Quebec – GlobeNewswire
Rogers unveils investments to honour Cogeco’s legacy, expand rural connectivity, accelerate 5G coverage to 95% of Quebecers and create hundreds of highly skilled jobs with new tech innovation hub
MONTREAL and TORONTO, Sept. 25, 2020 (GLOBE NEWSWIRE) — After 35 years of building in Quebec, Rogers today unveiled a $3 billion investment proposal to bring connectivity, jobs and economic growth to Quebec should it be successful in its bid to acquire Cogeco’s Canadian assets.
“Rogers is deeply committed to the future of innovation and the knowledge economy in Quebec. We would be honoured to help enhance the customer experience and bring new investments including 5G that will fundamentally reshape the economic landscape of Quebec,” said Joe Natale, President and CEO, Rogers Communications. “This is about the future, and helping ensure that Quebec’s ambitions around innovation, connectivity, health and education advancements are fully realized.”
Building off its base of 3,000 Quebec employees and nearly two million Quebec customers, Rogers new plans would include:
Growing jobs and powering economic growth:
- Investing a total of $3 billion in Quebec over the next five years, which includes $1.5 billion in network investments;
- Ensuring 5,000 jobs in Quebec for a combined Rogers/Cogeco entity;
- Maintaining Cogeco’s headquarters in Montreal with a Quebec President leading its business in Quebec;
- Maintaining the Cogeco brand in Quebec; and
- Continuing relationships with local suppliers and contractors.
Driving a made-in-Quebec innovation agenda:
- Expanding the rollout of 5G throughout Quebec, with a commitment to having 95% of the population covered over the next five years; and
- Establishing a tech innovation hub in Quebec, which would create up to 300 highly skilled new technology jobs as a Centre of Excellence in artificial intelligence, software engineering and digital technology.
Expanding rural connectivity and enhancing the customer experience:
- Building on Cogeco’s rural expansion commitments and establishing a rural connectivity partnership with the Quebec government to reach an additional 100,000 households.
- Upgrading services for existing Cogeco customers with the roll-out of Rogers next-generation connected home services, including Ignite Internet – the foundation of the home – that offers a personalized WiFi experience with the Ignite WiFi Hub; leading IPTV service with Ignite TV; Ignite SmartStream, a streaming platform that incorporates the most popular apps with voice search; and Smart Home Monitoring that allows customers to secure and control their home from anywhere.
Promoting culture and community partnerships:
- Continuing Cogeco’s existing community partnerships and launching a new student technology scholarship program;
- Continuing to sponsor major sporting and cultural events, including exploring ways to bring more major events to Quebec; and
- Establishing a French language training fund for Rogers employees outside of Quebec.
“We understand the importance of reaffirming our strong commitment to Quebec,” said Natale. “Rogers stands ready to be Quebec’s partner in building world-class networks to help make it a global leader in technology and innovation.”
Over the last 10 years, Rogers has invested more than $2 billion in its wireless network in Quebec and offers wireless services across the province. In January, Rogers started the rollout of Canada’s first and largest 5G network in Montreal, and expanded the Rogers 5G network to Quebec City, Gatineau and Trois Rivières earlier this month.
Last year, a PwC study commissioned by the company indicates that Rogers investments and operations resulted in a total economic footprint in Quebec of over $2.7 billion of output, including over 11,000 full-time jobs generated and supported.
Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com.
For further information: firstname.lastname@example.org, 1-844-226-1338
Buffett-following investment trust to list in London – TheChronicleHerald.ca
LONDON (Reuters) – An investment trust following the principles of veteran U.S. investor Warren Buffett is to list in London, the trust said on Friday.
Buffettology Smaller Companies Investment Trust intends to raise a minimum of 100 million pounds ($127.52 million) via an initial public offering on the London Stock Exchange, it said in a statement.
The trust will mainly invest in companies listed or traded in Britain, through a portfolio of 30-50 companies with market
capitalisations from 20-500 million pounds.
Sanford DeLand will be the trust’s investment manager, led by Keith Ashworth-Lord, CIO of Sanford DeLand Asset Management.
Sanford DeLand manages around 1.4 billion pounds across two open-ended funds.
“The UK small cap market offers excellent investment
opportunities to experienced managers who know what to look for and have the freedom to take a long-term view,” Ashworth-Lord said.
(Reporting by Carolyn Cohn; Editing by Rachel Armstrong)
China expands investment scope for foreign investors under combined scheme – TheChronicleHerald.ca
By Luoyan Liu and Meg Shen
SHANGHAI/BEIJING (Reuters) – China moved to further ease foreign access to its capital markets on Friday, officially combining two major inbound investment schemes and broadening the scope for foreign institutional investment.
The finalised rules, published by The China Securities Regulatory Commission (CSRC), the central bank and the foreign exchange regulator, combine the Qualified Foreign Institutional Investor (QFII) scheme and its yuan-denominated sibling, RQFII. The schemes channel foreign capital into Chinese stocks and bonds.
The new rules, which will take effect on Nov. 1, would also expand investment scope under the combined scheme.
The rule changes “will fundamentally relieve major bottlenecks for foreign institutional investors seeking to invest in China” said Thomas Fang, head of China Global Markets at UBS.
The regulations “have the potential to not only galvanize investor interests in China, but also broaden (the) investor base in using financial and hedging instruments in China,” Fang said.
China is accelerating reforms and the opening-up of its capital markets as part of efforts to promote global use of the yuan currency while trade and diplomatic ties with the United States remain strained.
The announcement coincides with FTSE’s decision earlier in the day to include Chinese government bonds in its flagship World Government Bond Index.
The rules also lower the threshold for overseas applicants and simplify the vetting process.
Investors will be allowed to buy securities traded on Beijing’s New Third Board and invest in private funds or conduct bond repurchase transactions.
In addition, foreign institutions will also have access to derivatives, including financial futures, commodity futures and options, according to the new rules.
“The move will encourage more medium- and long-term funds, including hedge funds and alternative investment funds, to enter the Chinese market directly,” said Fang at UBS.
The draft rules were published in January 2019.
(Additional Reporting by Samuel Shen; Editing by Alex Richardson)
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