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Mauricio Vila highlights the ideal conditions that Yucatan has to attract investment – The Yucatan Times

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During the meeting of the National Action Governors Association (GOAN), Vila Dosal reiterated the call to work together to face the Federal Government’s budget reductions.

Benito Juárez, Quintana Roo (November 22, 2020).- When participating in the meeting of the National Action Governors Association (GOAN), Governor Mauricio Vila Dosal highlighted that in Yucatán, despite the pandemic and natural disasters in recent years, which involved the presence of 3 tropical storms and 2 hurricanes, investments continue to arrive and with this the state is ratified as a place that provides the necessary confidence for national and international companies to invest safely.

During the meeting, in which the Governor of Quintana Roo, Carlos Joaquín González assumed the presidency of the GOAN, Vila Dosal mentioned, as an example, that in recent months projects such as the Progreso Wind Farm have been launched, which included with an investment of 3,400 million pesos and which will be generating electricity equivalent to 212 thousand houses.

Likewise, the Yucatecan Governor added that in the coming weeks another wind farm will be inaugurated in Tizimín, which will be of the same size as the one already existing in Progreso.

“We see how multinational companies such as Walmart have just opened their Distribution Center (CEDIS), generating more than 2,000 jobs, between direct and indirect, with an investment of 1,140 million pesos. Walmart will also open two new stores in Yucatán, one that already opened a few weeks ago in the Fraccionamiento Campestre and another that we will be opening next week. In addition, next year this supermarket chain will be opening another four stores, generating a good number of jobs, “said Vila Dosal.

In this sense, the Governor added that the company of Chinese origin Woodgenix has invested almost 1,400 million pesos in Yucatan to generate 500 jobs and the confidence of this company in the entity is such that the construction of another has already been announced. plant that will generate another 1,000 jobs for Yucatecan families.

“We also recently inaugurated the Cementos Fortaleza plant with an investment of 500 million pesos, which is of utmost importance for the entity since the Yucatan Peninsula has the most expensive cement price in the entire country, due to the fact that it only existed a cement plant, but with this recent inauguration it is expected that in the medium and long term, the price of cement, as there is more competition, may reduce its costs, ”said Vila Dosal.

On the other hand, explained the Governor, the real estate sector, which is one of the greatest thrusts that the Yucatan economy has, is growing a lot due to the quality of life and security offered by the city of Mérida, so on Thursday Last year, an investment of more than 4,565 million pesos was announced in the Vía Montejo real estate development, where in addition to office towers there will be a Hyatt hotel and the United States Consulate will be built, with an investment of 130 million dollars for this consular office that will provide services for Yucatán, Campeche and Quintana Roo.

Another important project for Yucatán, Vila Dosal highlighted, is the Puerto de Altura de Progreso, in which an expansion of the access will be carried out, where currently the draft has a depth of 9.75 meters and will be increased to 15 meters, which will allow entry for large ships of 100,000 tons when now only ships of 40,000 tons can arrive, and with this, the costs of logistics will be reduced and it will contribute to make Yucatan a more competitive state.

The Yucatan Times
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Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire

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QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.

“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”

ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.

Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).

“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.

As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.

 About Kaleido

Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.

Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.

To learn more, visit kaleido.ca/en and follow us on social media.

SOURCE Kaleido Growth Inc.

For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312

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https://www.kaleido.ca/

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BMO to exit oil and gas investment banking in the US – BNN

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Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.

BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate banking energy business.” Going forward, the company said by email, its capital markets energy business will be focused on Canada.

The company is eliminating about 50 positions in its investment banking group as part of the exit that was announced to staff on Monday, according to a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. A handful of corporate bankers will manage BMO’s U.S. oil and gas loan book, the person said.

BMO is the latest bank to halt investment banking tied to U.S. oil and gas explorers, which even before the pandemic were facing pressure after years of generating meager returns. The move didn’t appear to be related to ESG concerns plaguing fossil fuel companies. America’s shale industry has been swept up in a wave of consolidation in recent months as the pandemic slashes oil demand, drags down prices and forces low-premium mergers. That follows years of lackadaisical M&A activity in the oil patch.

On Tuesday, BMO reported gross impaired loans in its U.S. oil and gas portfolio of $457 million at the end of its fiscal fourth quarter, compared with only $93 million for the industry in Canada and other countries.

BMO’s U.S. oil and gas loan book was about  $7 billion as of July 31, making up half of its overall oil and gas loans, according to a company presentation.

–With assistance from Derek Decloet.

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Scotia's top 10 investment themes for 2021 include 'the hunt for yield intensifies' – The Globe and Mail

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Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

The equity strategy team led by Hugo Ste-Marie at Scotia Capital published 10 Themes for 2021 – Unleashing Excess Cash Tuesday morning.

The top themes are,

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“1. Piles of stacked cash could soon turn into hot money. 2. Synchronized downturn, synchronized upturn 3. The road to US$200 EPS 4. Income scarcity: The hunt for yield intensifies 5. Bond yields: The great normalization 6. Go Global 7. Small could be big in 2021 8. Hard assets shining, CAD roaring 9. Sector rotation favors cyclicals 10. No Value left behind [and]11. Bonus – Capital markets spring back to life”

Here’s an excerpt from the section on yield scarcity,

“Interest rates on cash deposits and government bond yields should remain quite anemic next year. As traditional sources of income can’t fulfill their role anymore, the hunt for yield will likely intensify and investors will have to look for alternatives. Equities appear an obvious choice. After a challenging year, dividend growth should resume in 2021 on the back of improving profitability trends. Moreover, dividend yields have rarely been this attractive versus government bonds in over half a century”’

” @SBarlow_ROB Scotia: “10 Themes for 2021 – Unleashing Excess Cash” – (research excerpt) Twitter

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Morgan Stanley has updated its “Fresh Money Buy List” of top U.S. stocks picks, removing S&P Global Inc. because of “regulatory and/or policy restrictions”.

The remaining list consists of Ally Financial, Citizens Financial Group Inc., Walt Disney Co., Humana Inc., Johnson & Johnson, Linde PLC, Mastercard Inc., PVH Corp., and T-Mobile U.S. Inc.

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“@SBarlow_ROB MS drops S&P Global from its Fresh Money Buy List of U.S. picks” – (table, including performance) Twitter

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Also from Morgan Stanley, the technology and telecom research team led by Katy Huberty published a report outlining the bright outlook for 5G-related stocks and provided a list of stock ideas (my emphasis),

“We are buyers of stocks exposed to stronger than expected consumer 5G demand. Consumer smartphone purchase intentions are the strongest in recent history according to our AlphaWise survey of nearly 3,500 consumers in the US and China. The main driver is demand for 5G, which is now the primary reason consumers are upgrading in the US and China – a comparatively bigger catalyst than any other recent technology upgrade and a more bullish signal relative to investors’ more cautious stance. We highlight key takeaways across our global technology and telco services teams and recommend owning a group of stocks that we view best positioned for 5G infrastructure investment and smartphone demand upside.”

The top 10 5G-related stock ideas are Apple Inc., T-Mobile US Inc., Qualcomm Inc., Delta Electronics Inc., Samsung Electronics Co Ltd., Sunny Optical Technology Company Ltd., China Mobile Ltd., Taiwan Semiconductor Manufacturing Company Ltd., Murata Manufacturing Co. Ltd. and Ericsson.

“@SBarlow_ROB MS: Top 10 5G-related stock picks” – (table) Twitter

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New column from me: “What investors can learn from the top performing U.S. value stocks” – Inside the Market

Diversion: The Ringer’s panel rewatches and discusses the 1980s movie Wall Street – The Ringer (podcast)

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