Latin America

Mexico-based America Movil - Latin America's largest mobile operator - has reported a 51 percent rise in net profit for the third quarter amid signs that the region is recovering from the economic slump.

Dow Jones reports that America Movil, Latin America's largest mobile operator by subscribers, will invest more than US$3 billion in its operations next year.

Dow Jones Newswires reports that the local units of Spain's Telefonica and Mexico's America Movil will maintain their plans to invest a total of US$205 million in Ecuador this year to improve services, technology and coverage.

Reports in the US media this week suggest that President Obama's decision to ease long-standing economic restrictions against Cuba could lead to US operators entering the country's underdeveloped mobile market.

A day after announcing a Brazilian launch, Nokia today said that its Comes With Music service will be available in Mexico via America Movil from 1 May.

Latin American mobile giant America Movil has become the latest telecoms firm to receive funding from the China Development Bank (CDB), China's fifth-largest commercial bank.

America Movil, Latin America's largest mobile operator, reported a 27.5 percent jump in second-quarter profits as sales grew despite a slowdown in new subscribers, reports Forbes.