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 Business News
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New Port Proposed in Ensenada
 PVNN
A new port at Punta Colonet, a deserted bay in Northern Baja located only one hour away from the Mexican Port of Ensenada, could soon become a strong competitor for Lázaro Cárdenas Port operating on the Pacific Coast of México.
AIR Estimates Dean Mexico Losses 'Unlikely To Exceed $400 Million'
 Insurance Journal
AIR Worldwide's provisional assessment of the losses in Mexico from Category 5 Hurricane Dean indicated that they are "unlikely to exceed $400 million." AIR said its estimate "covers insured losses from wind and flood to property, contents, business interruption and additional living expenses for onshore properties."
Latin American Markets Show Resilience Amid Global Tumult
 Alexander Ragir & James Attwood
With the Brazilian index off 15 percent since July - this time because of U.S. subprime mortgage concerns - fund managers like Eric Conrads of the AFP Santa Maria fund in Chile, and Ricardo Malavazi of the Petros Fund in Brazil, plan to buy.
Dean Batters Mexico's Oil Industry
 Richard Jacobsen
Hurricane Dean closed in on the Mexican mainland Wednesday, battering evacuated oil platforms on the Bay of Campeche while regaining some of the force it unleashed on the Yucatan Peninsula.
Mexico Tries to Reform Street Economics
 Aul Kiernan
Mexico City's leftist mayor, working from a building all but engulfed by the makeshift market, is now seeking to move the vendors from the capital's historic downtown by Oct. 12 and free up streets lined with colonial treasures ranging from cathedrals to museums.
Immigrants Send Less Cash Home as Construction Slows
 Jenalia Moreno
Construction has slowed because it has gotten harder for home buyers to get credit in the wake of the meltdown in the subprime mortgage market. Illegal immigrants, in particular, are bearing the brunt of that slowdown, losing their jobs painting, laying tile and building roofs for new homes.
Global Markets Keep Tumbling
 Associated Press
Global stock markets tumbled again Thursday on persistent worries about U.S. housing loan problems and potential damage to the global economy. The slides, which increased after U.S. markets fell again, came despite moves by the U.S. Federal Reserve to add more cash to the banking system.
Mexico Freezes Tortilla Prices to Curb Inflation
 Catherine Bremer
The Mexican government has agreed with corn farmers, flour producers and tortilla makers to extend a price freeze on tortillas through end-2007 to help curb inflation. The decision to hold prices of the corn patties at 8.50 pesos per kg (35 U.S. cents a pound) was taken late on Tuesday and came despite a decline in corn prices from historic peaks at the start of the year.
U.S. Housing Starts Hit 10-Year Low
 UPI
Home construction starts fell to their lowest rate in 10 years in July as sales keep falling and credit tightens. Housing starts decreased by 6.1 percent to a seasonally adjusted 1.381 million annual rate, after rising 2.1 percent in June to 1.470 million, the U.S. Commerce Department said.
Mexico Yanks a Roadblock to Developing Port-Rail Plan
 Diane Lindquist
Mexico has canceled the disputed mineral concession at Punta Colonet that has held up development of a massive port-rail project geared to create a trade route from Asia into the American heartland through Baja California.
Mexican Markets Hit by Credit Crunch Worries
 Reuters
Mexican stocks, bonds and the peso all fell sharply on Wednesday as investors worried that problems that began in the market for risky U.S. mortgages were leading to a global credit squeeze.
Meet the Powerful Business Members of the North American Competitiveness Council
 Global Research
The North American Competitiveness Council, part of the Security and Prosperity Partnership, was established by the American, Canadian and Mexican governments at the June 2006 trilateral meeting in Cancun, Mexico.
Mexico City's Princess and the Paupers
 Marla Dickerson
Fight your way through parts of downtown Mexico City and you'll understand why Mayor Marcelo Ebrard wants to clean up this town. Street vendors selling tacos, bootleg CDs and cut-rate clothing have converted the symbolic heart of Mexico into a gigantic swap meet.
Mexico, U.S., Canada to Meet on Free Trade Agreement
 People's Daily Online
Trade ministers and officials from Mexico, the United States and Canada will meet on Monday and Tuesday in Vancouver, Canada, to discuss issues concerning the North America Free Trade Agreement (NAFTA), Mexico's Economy Ministry said on Sunday.
New Immigration Rules Will Force Undocumented Workers to be Fired
 Carolyn Lochhead
Americans clamoring for a crackdown on illegal immigration got their wish with the Bush administration's announcement Friday of sweeping new enforcement measures that will force employers to fire the millions of illegal workers they now employ.
Mexicans Join Credit Card Age
 Marla Dickerson
"Carguelo a mi cuenta!," or "Charge it!," is the cry of a consumer revolution rattling store shelves south of the border. Mexican shoppers are finding it easier than ever to snag a car loan, finance a dinette set or buy movie tickets with plastic.
Grupo Mexico Tries to Fire Striking Cananea Workers
 Noel Randewich
Copper producer Grupo Mexico wants to fire more than 2,000 miners at its Cananea pit and other mines, a company lawyer said on Friday, but legal wrangling is keeping them from letting the workers go.
Presidential Candidate Wants to Change US Dollar
 Peace and Freedom Party
Stewart A. Alexander, a presidential hopeful with the Peace and Freedom Party, wants the face on six United States Federal Reserve Notes changed to represent the working class across America.
Fewer Mexicans Seen Sending Money Home From US
 Adriana Garcia
A lower percentage of Latin American workers living in the United States is sending money to family members back home, a report showed on Wednesday.
Mexico-US Border Trucking Full Of Potholes
 Nick Carey
When it comes to getting goods across the U.S.-Mexican border by truck, Steve Russell doesn't mince his words about the current system. "It's like the Middle Ages, the system adds a day to any haul."
Now, Wear T-Shirts that Poke Fun at Racism
 CNN
Being tacky is being cool! Tacky t-shirts are the latest fad to hit the western world and the unique concept has helped one company sell thousands of t-shirts to youngsters, who see poking fun at themselves as the latest trend.
Coffee War Brewing South of the Border
 Diane Lindquist
The world's richest man is bringing Starbucks to Tijuana, Mexico, setting up a possible coffee war between the world's largest coffeehouse chain and the popular Mexican chain D'Volada.
The Secrets of the World's Richest Man
 David Luhnow
Carlos Slim is Mexico's Mr. Monopoly. It's hard to spend a day in Mexico and not put money in his pocket. The 67-year-old tycoon controls more than 200 companies - he says he's "lost count" - in telecommunications, cigarettes, construction, mining, bicycles, soft-drinks, airlines, hotels, railways, banking and printing.
Goldman Sachs Fund Wins US$4.1B Bid to Run 4 Mexican Toll Roads
 Chris Aspin
Mexico's ICA, the country's largest construction company, and a fund of Goldman Sachs Group Inc. won the right to run four existing toll roads with a US$4.1-billion offer, the government said Monday.
The Interest for Puerto Vallarta Beachfront Property Skyrockets with the Use of an IRA
 FinanceVisor
Modern IRA holders are discovering an effective means of managing their future earnings through a self-directed IRA. Self-directed IRAs are helping many of these investors find a lucrative return in Puerto Vallarta real estate.
Demographics Drive New Allianz Mexico Life Product
 PRDomain
The Mexican government has opened the market for retirement provision. Allianz Mexico is offering a new product for the growing number of Mexicans who will need to finance their retirement.
Despite Outcry, Many Americans Can't Live Without China Goods
 Rob Lever
Even as protests grow about US imports from China, many Americans may find it hard to manage without the range of products that dominate or in some cases monopolize the marketplace.
I Don't Care if I'm Richest in World: Mexico's Slim
 Chris Aspin
Mexican telecom tycoon Carlos Slim, who is estimated by some calculations to be wealthier than Microsoft founder Bill Gates, said on Thursday he did not care if he was the world's richest person.
Soriana – A Mexican Success Story
 Allan Wall
The Mexican economy has a good many success stories, and it’s good to point them out and see what we can learn from them. One such example is Soriana, a 100% Mexican-owned retail department store chain that competes head on with Wal-Mart.
Teens at Work
 Joseph Contreras
Thousands of adolescents work as unpaid baggers in Wal-Mart’s Mexican stores. The retail giant isn’t breaking any laws — but that doesn’t mean the government is happy with the practice.
Infonavit Plans to Sell Debt in U.S.
 Guillermo Parra-Bernal & Jose Enrique Arrioja
Infonavit, Mexico's housing agency, plans to sell mortgage-backed bonds for the first time in the U.S. this year, betting the bonds' high ratings will overcome investor skepticism.
Panama Canal Expansion a Threat, Experts Say
 Diane Lindquist
An expansion of the Panama Canal to allow passage for a new generation of megaships may be threatening plans to build a new port at Punta Colonet, 150 miles south of San Diego.
Grupo Mexico's Cananea Copper Pit Closed by Strike
 Reuters
Strikes have closed Grupo Mexico's giant Cananea copper mine in northern Mexico and two smaller mines, a top executive said on Tuesday.
Locals Promote Gay Tourism in Puerto Vallarta
 Adriana Romero
On Sunday, July 22nd a group of gay, lesbian and straight business owners gathered at Encuentros Pizza Bar & Lounge to learn more about an exciting new business alliance that promotes gay and gay-friendly tourism in Puerto Vallarta.
Mexico Peso, Local Bonds Advance as Risky Asset Concerns Recede
 Valerie Rota
Mexico's peso rose the most in six weeks as higher prices for global stocks helped assuage concerns that investors will avoid riskier emerging-market securities.
Omni Hotels Announces Plans for Two New North American Developments
 PRNewswire
Omni Hotels continues its expansion in the luxury hotel and resort market as it announces plans for two new properties, adding to its existing North American portfolio.
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