LATAM Business Watch: 31 Oct 2026 – Huaxin Buys CSN Cimentos

Latest Insight:

Free-Zone Warehouse Lease? How to Underwrite It as Medical Exports Stall

LATAM Business Watch: 31 Oct 2026 – Huaxin Buys CSN Cimentos

October 31, 2026

Good Morning,

Costa Rica’s central bank cuts 2026 growth to 3.2%, Huaxin agrees to buy CSN Cimentos for US$2.35 billion, Televisa eyes a January close on AT&T’s Mexican unit, Brazil awards all eight transmission lots, Bogotá opens bids on a US$1.5 billion wastewater plant, and Lufthansa hands its Costa Rica route to Discover.

Today’s full analysis: Buying in Costa Rica? Central Bank Cuts 2026 Growth to 3.2%

Let’s dive in.

Markets & Macro

Costa Rica: the BCCR cut 2026 growth to 3.2% (from 3.4%) and 2027 to 3.3%, and kept its policy rate at 3.0%, in place since July (BCCR, 30 Oct).
Costa Rica: September inflation was 0.34% year on year, the first yearly rise since April 2025 (Rio Times, citing INEC, 7 Oct).
US: the Fed held at 3.75-4.00% on 28 Oct, with two dissents in favor of a hike (XTB).
Colombia: BanRep raised its rate 25 bp to 12.25% on 30 Sep; September inflation was 6.29% (Rio Times, Rio Times). The 30 Oct decision was not verified.
Mexico: Banxico held at 6.50% on 24 Sep, its third straight hold (Yucatán).

This Week’s Calendar

Tuesday 3 Nov: US JOLTS job openings for September, Brazil’s Copom starts its two-day meeting (calendar, B3).
Wednesday 4 Nov: Brazil Copom rate decision, expected in the evening (B3).
Thursday 5 Nov: Banxico rate decision; the date comes from a prediction-market listing, so confirm it with Banxico (listing).
Friday 6 Nov: US October jobs report (calendar).
Costa Rica: no BCCR rate decision verified this week; one source reports the next meeting for 26 Nov. INEC’s October inflation date was not confirmed.

Headline Roundup

Costa Rica’s central bank lowers its 2026 and 2027 growth forecasts as free-zone output slows (La Nación).
Third-quarter output grew 2.7%, a slowdown from the prior quarter (Diario Extra).
Lufthansa will pass its Costa Rica route to sister airline Discover from December 2027 (Tico Times).
The social security fund opens a national dialogue on 20 pension-reform proposals (Tico Times).
Panama draws data-center investors as the government extends tax incentives (BNamericas).
Bogotá invites bids for what would be Colombia’s largest wastewater plant (BNamericas).
Peru’s Perupetro signs a license for block 206 in Talara with Colombian Green Energy (BNamericas).
Mexico pushes its battery-storage deadline to March 2027 (BNamericas).
Brazil awards all eight transmission-auction lots (BNamericas).
Canada’s Constellation gets approval to take full ownership of Brazilian IT firm Penso (BNamericas).
Chile’s telecom regulator declines to renew WOM’s 800 MHz concessions (BNamericas).
Argentina’s Senate passes an investment incentive regime and sends it to the lower house (BNamericas).

Deal Flow

M&A / Strategic

Huaxin agrees to buy CSN Cimentos, Brazil cement, for US$2.35 billion as reported.
Televisa expects a January close on AT&T’s Mexican business, about US$2 billion as reported.
Constellation’s Sysopen gets approval for full ownership of Penso, Brazil IT services; price undisclosed.

Debt

Pelicano Solar, Chile, arranges a bridge facility then a US$129 million senior secured notes placement for battery storage.

Funds / Real Estate / Infrastructure

Brazil awards all eight transmission lots: 1,866 km across seven states, US$1.6 billion of investment.
Bogotá invites bids for a wastewater plant, a US$1.5 billion concession to finance, build and operate.

Regulatory Watch

Costa Rica: CCSS dialogue on IVM pension changes, including 30 years of minimum contributions; results expected around October 2027, effective date: not stated (Tico Times).
Mexico: battery-storage deadline moved to March 2027, with projects required to partner with CFE (BNamericas); effective date: not stated.
Argentina: Senate vote of 60-2 on incentives for investments of US$12 million or more; needs lower-house approval, effective date: not stated (BNamericas).
Chile: regulator refuses to renew WOM’s 800 MHz concessions, citing no customers on them since 2016; effective date: not stated (BNamericas).

Data as of 31 October 2026. Items reflect public reports on the dates shown; deal terms are as reported by the sources and may change. This is general market commentary, not investment advice.