Economy & Business - February 2012 (ISSN 1741-7430)

On 1 February América Móvil, a leading Mexico-based telecoms company, controlled by the world’s richest man, Carlos Slim Helú, became the first Latin American company to tap the so called “dim sum” (Chinese renminbi) bond market. It borrowed RMB 1bn (US$158m) for three years, but paid only 3.5% a year in interest for the money to do so.