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 Business News
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Mexico Sells $400 Million in Foreign Reserves
 Julie Watson
Latin American stocks declined Thursday and Mexico's peso tumbled further after hitting a three-week low amid mounting concerns over the depth of the global financial crisis.
US Builders Index Hits New Low, Housing Starts Plunge Again
 Dean Baker
The National Association of Home Builders' housing market index fell to a new low of 9 in October, dropping 5 points from the September level. The Census Bureau reported that housing starts dropped 4.5 percent in October to an annual rate of 791,000.
Government Can't Handle Global Run On Gold Coins
 NY Post
There's a worldwide run on gold coins. Even as the price of the precious metal itself comes under pressure along with commodities like oil and copper, people around the world are demanding so many of the valuable coins that government mints are having difficulty filling orders.
Slowing Global Economy Impacting Mexico
 PVNN
With the rising cost of living expenses, falling oil prices and a slowdown in tourism, Mexican citizens and business owners are seeing the first strong sign that Mexico is in for a bumpy economic future.
Mexico's Economy the Slowest Since 2003: Survey
 Eleonor Meza
Due to the current U.S. economic crisis, Mexico is likely to report a significant decrease to its gross domestic product which has not been seen since 2003.
Emerging Markets Still Offer Opportunities
 Daniel Graña
As we wade through the fallout from the credit crisis, it is easy for investors to be fearful instead of seeing long-term opportunities. Collectively, the emerging markets have fallen 60%, but their fundamentals aren't connected to the credit crisis.
Mexico Top Export Market for Oregon Christmas Trees
 Len Reed
Oregon Department of Agriculture officials say the state remains the nation's top producer of Christmas trees and expects to sell as many as 8 million trees this holiday season. About 13 percent of the state's harvest will be bound for Mexico.
President Felipe Calderón Proposes Actions for Coping with World Crisis at G-20 Summit
 Presidencia de la República
In order to cope with the situation of the global economy, at the G-20 Summit, President Felipe Calderón proposed containing the financial crisis, adopting contracyclical economic policies in a coordinated fashion, reforming national and international financial institutions and preventing the new era of protectionism.
Interest Rates Soar as Credit Tightens in Mexico
 Chris Hawley
The Wal-Mart slogan in Mexico is the same as in the USA: Always low prices. Yet that doesn't apply to the store's credit cards, which carry a 69.6% annual interest rate. Such high rates are increasingly common in Mexico, and they are rising even further as banks worldwide tighten lending limits amid a worsening economic crisis.
Mexico Spends $1.5 Bln to Hedge Falling Oil Prices
 Julie Watson
Mexico, the third-largest supplier of oil to the U.S., has spent $1.5 billion since July to hedge against falling oil income and protect public spending for 2009, Treasury Secretary Agustin Carstens said Thursday.
 JW Marriott First Residential Development Comes to Baja, Mexico
 hospitalitynet
Drawing on its partners' long history of successful real estate experience in the U.S. and abroad, Scottsdale-based NG Properties Mexico, LLC has signed an agreement with Marriott International to create the first JW Marriott Residences property in Mexico.
Banking is One of the Best Means of Boosting the Country's Economic Activity: President Calderón
 Presidencia de la República
Mexican President Felipe Calderón met this week with the Association of Mexican Banks on the occasion of their 80th Anniversary.
Latin America's Car-Buying Boom Ends as Crisis Bites
 Agence France-Presse
Latin America's huge appetite for new cars is slowing under the effects of the global financial crisis, denting the hopes of big automotive groups that had been banking on the region's resilience.
Mexico Ready to Increase State Spending
 Adam Thomson
Mexico’s Congress was expected on Wednesday to vote through a budget that could increase government spending by 16 per cent, as part of a strategy to spend its way out of the fall-out from the US downturn.
Mexicana Launches London Route
 CheapFlights
Mexico's national airline is aiming to capitalise on a growing number of British visitors to the country, with the launch of direct flights to Mexico City from London Gatwick Airport.
China Sees Substantial Trade Growth with Latin America
 Zheng E
The bilateral trade between China and the Latin American region grew substantially during the first three quarters, up 52 percent to reach 111.5 billion U.S. dollars, said China's Ministry of Commerce on Tuesday.
Southwest Plans to Sell Travel to Mexico
 David Koenig
Southwest Airlines Co., looking to expand its U.S.-only service, said Monday it will sell tickets for travel to Mexico beginning in 2010 through a deal with Mexican partner Volaris.
Mexico: Market Isn't Enough to Regulate Economy
 Associated Press
Mexico's conservative president says the global economic crisis shows the need for stricter government regulation.
California's Demise of Same-Sex Weddings Disheartens Businesses
 Jesse McKinley
A week before Election Day, Christopher Burnett’s floral shop filled orders for many same-sex weddings. Since Tuesday’s voter approval of Proposition 8, which amended the state’s Constitution to recognize only marriages between men and women, that type of business is gone.
Mexico Consumer Prices Up 0.68 Pct in October
 Jason Lange
Mexican consumer prices rose 0.68 percent in October, higher than analysts expected but level with the 0.68 percent reading reported in September, the central bank said on Friday.
Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 15.2% for October 2008
 PRNewswire
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. announced preliminary terminal passenger traffic figures for the month of October 2008 compared to traffic figures for October 2007.
"Mexican Markets Stable," Declares Carstens
 Presidencia de la República
Finance Secretary Agustín Carstens declared that financial markets in Mexico are operating normally, due to the economy’s solid basis, following the death of Interior Secretary Juan Camilo Mouriño in an air crash.
Thirty-Seventh Annual AMPI Conference
 John K. Glaab
This year's Annual Conference of the Mexican Association of Real Estate Professionals (AMPI) will be held in the Mayan Riviera from November 19th-22nd. Members of NAR from the United States and Central America are expected to attend.
Financial Crisis Has Not Taken Its Toll on Caribbean and Mexican Destinations Just Yet
 Travel Daily News
A recent study revealed that though Europe continues to be the preferred international destination among 72 percent of leisure travelers interested in purchasing vacation time, nearly one quarter or 22 percent are interested in visiting the Caribbean and about 15 percent are interested in Mexico.
Obama's Path to Greatness: Health Care as Stimulus
 Dean Baker
If Obama announced plans to jump-start national health care insurance, it could provide an immediate boost to the economy.
Fitch Warns on Mexican Mortgage Debt Issues
 Noel Randewich
Fitch Ratings placed four Mexican mortgage-backed bonds issued by small non-bank lenders on ratings watch negative on Monday, the latest sign that fallout from the world credit debacle is seeping into the country's financial system.
Mexico's Peso Rises on Investor Appetite for High-Yield Assets
Valerie Rota
Mexico's peso rose as falling global money-market rates boosted demand for higher-yielding assets. The peso was the second-biggest gainer among Latin American currencies today after Chile's peso.
Obama's Green Jobs Revolution
 Geoffrey Lean & Leonard Doyle
Barack Obama is promising a $150bn "Apollo project" to bring jobs and energy security to the US through a new alternative energy economy, if his final push for votes brings victory in the presidential election on Tuesday.
Mexico Oil Reform Slight
Alexandra Olson
Mexico's Congress has passed a watered-down energy industry reform that enables private contractors to participate in the state-owned oil business but won't likely draw enough investment to reverse declining production in the third-largest oil supplier to the United States.
Mexico May Report Fastest Inflation Since 2001
Jens Erik Gould
Mexico's central bank may report the fastest annual inflation in seven years, making it unlikely policy makers will reduce the key lending rate before the end of the year.
LatAm Corruption: Major Business Obstacle
 Latin Business Chronicle
Corruption is a significant obstacle for doing business in Latin America, resulting in lost business for law-abiding companies, according to a new survey among more than 200 executives in the region.
Regional Super Hybrid Facility to Spur Growth in Baja California
 B.C. Gob
With the new Economic Promotion Act that foster sustainable developments, as well as the need for additional electricity and drinking water in many coastal areas at the northern part of the State, the developers of these facilities has just arrived in Tijuana, B.C. Mexico.
In US Economic Decline, Worst is Yet to Come
 Agence France-Presse
The US economy contracted in the third quarter as panicked consumers slashed spending, data showed Thursday in the first downside leg of what analysts say could be a deep and nasty recession.
One in Five US Homeowners With Mortgages Underwater
 Jonathan Stempel
Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.
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