Mexico’s largest mortgage provider plans to offer home buyers fixed-rate loans for the first time, as the two-decade long inflationary hangover from the country’s Tequila Crisis fades.
A legal overhaul will let Mexicans who finance their homes with state-controlled Infonavit, the company founded in 1972 to give workers access to home financing, get the 30-year mortgages for the first time as soon as June. The lender, which has made about 4.4 million loans since 2001, also plans to issue mortgage-backed securities in pesos next year to match income with obligations, the first such sales since 2004.
SR2.5b Riyadh metro power contracts signed
The Saudi Electricity Company (SEC) awarded on Tuesday seven contracts worth a total of SR2.56 billion to supply electricity power to the Riyadh metro, which is currently under construction.
Sharjah lures one million tourists in H1
Sharjah has witnessed a significant increase in the number of visitors touching one million mark in the first half of the year 2014, according to the tourism statistics released by the Sharjah Commer
US seen to overtake Saudi petroleum production
US liquefied petroleum output is set to overhaul Saudi Arabia in September or October, for the first time since 1991. In terms of crude oil production, the US is still third behind, with Russia in th