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 Business News
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Construction Industry's Production Chain Signs National Agreement for Families’ Economies and Employment to Live Better
 Presidencia de la República
In the presence of President Felipe Calderón, the production industry's production chain signed the National Agreement for Families' Economies and Employment, in which they pledged to create up to 350,000 direct jobs in 2009 as a result of the building of infrastructure works throughout the country.
38th Annual AMPI Conference
 John K. Glaab
Jorge Aguilar, President of the Morelia Section of the Mexican Association of Real Estate Professionals (AMPI) recently announced that the 38th Annual AMPI Conference and Trade Show will be held from October 21-24th, 2009 in Morelia, Michoacan.
Mexico's Slim to Invest $250 Million in N.Y. Times
 Robert Daniel
New York Times Co. reached an agreement under which companies backed by the Mexican telecom investor Carlos Slim will invest $250 million and could boost their holding, helping the New York media company reduce its debt and strengthen its finances.
Citigroup Posts $8.29 Billion Loss, Splits Up the Company
 Madlen Read
Citigroup said Friday it is splitting up into two businesses as it reported fourth-quarter net loss of $8.29 billion - its fifth straight quarterly loss.
Circuit City to Liquidate, Shutter Stores
 Karen Jacobs & Emily Chasan
Bankrupt electronics retailer Circuit City Stores said on Friday it will liquidate its assets and shutter hundreds of U.S. stores after failing to reach a deal to sell the company.
Mexico Travel: Client-Matching
 Dave Richardson
From wild party resorts and luxury hotels to relaxing eco-parks and ancient civilisations, Mexico can cater for all of your clients’ needs.
Mexico Central Bank Cuts Lending Rate to 7.75 Pct
 Julie Watson
Mexico's central bank cut interest rates for the first time since 2006 on Friday to boost the country's slowing economy as it inches toward recession.
Mexico's Banks Remain Well Capitalized in November
 Noel Randewich
Mexico's banks remained well capitalized in November as toxic loans devastated financial groups in the United States and Europe, the country's bank regulator said on Monday.
Mexico's Housing Fund Infonavit Makes 494,073 Mortgages in 2008
 Ken Parks
Mexico's largest home lender, federal housing fund Infonavit, said Monday it made 494,073 mortgages last year, just short of its goal of half a million loans.
Bimbo Gets US Go-Ahead to Buy Canada Breadmaker
 Diane Bartz
Mexican baked goods company Bimbo has received U.S. antitrust approval to buy the U.S. bread-making unit of Canada's George Weston Ltd, the Federal Trade Commission said on Monday.
Mexico's Pemex Awards Contracts For Work On Cantarell Fields
 Anthony Harrup
Mexican state oil monopoly Petroleos Mexicanos said Sunday it awarded four contracts for well-recovery rigs and related services as part of its efforts to contain the decline in production at the offshore Cantarell oilfields.
Amid Crisis, Mexico Pledges to Fight Layoffs
 Alexandra Olson
Mexican President Felipe Calderon pledged last week to pump 2 billion pesos ($150 million) into troubled industries to prevent layoffs at companies vulnerable to the economic crisis.
Treasury: Mexico Appears Headed for Recession
 Julie Watson
Mexico's economy is likely headed for a recession in 2009 amid slowing exports and investment, Treasury Secretary Agustin Carstens suggested Friday.
Agreement a Major Step towards Protecting Employment and Ensuring Economic Stability: President Calderón
 Presidencia de la República
President Felipe Calderón declared that the National Agreement to Promote Families’ Economies is designed to offset the effects of the international economic downturn and to protect Mexicans’ jobs and economies by implementing various actions by the country's political and social sectors.
More Pink Slips as US Economy Worsens
 Jeannine Aversa
Pink slips are piling higher as companies scramble to cut costs even deeper to survive the country's economic and financial storms.
Mexico’s Airports See Traffic Fall 5.7% in 2008 Q3
 anna.aero
Data for the third quarter of 2008 shows that Mexico’s domestic market has stopped growing, with passenger demand falling by 5.7%. A year previously traffic growth had been around 25%. Not since October 2005 had domestic traffic failed to grow.
Mexican Peso Rises for First Time in 3 Days on U.S. Jobs Report
Valerie Rota
Mexico’s peso rose for the first time in three days after a U.S. government report showed job losses last month were in line with forecasts.
Mexican 2008 Inflation 6.5 pct, Highest in 8 Years
 Jason Lange
Mexican consumer prices rose at their fastest pace in eight years in 2008, but the inflation spike may not be enough to stop the central bank lowering borrowing costs soon to aid the ailing economy.
Mexico to Freeze Gasoline Prices, Boost Jobs Spending
Andres R. Martinez & Jens Erik Gould
Mexico will freeze the price of gasoline this year, cut electricity rates for some industries and expand unemployment benefits as part of a financial stimulus to help the nation weather an economic slump.
Spanish Language TV In US Could Be Changing
 Mic Mell
Univision and Grupo Televisa are in court over a major royalty fiasco. Univision is the largest Spanish language television network in the U.S. They are now locked in a heated court battle with Grupo Televisa, a Mexican company that is the world's leading creator of Spanish language soap operas and dramas.
Mexican Banks Move to Avoid Credit Card Defaults
 Noel Randewich
Two Mexican banks are launching programs to help consumers reduce credit card debt as a slowing economy threatens to worsen already ballooning loan defaults.
Mexicans Urge Calderón to Deal With Economy
Angus Reid Global Monitor
Adults in Mexico believe their president should place more emphasis on financial stability than on public safety at this time, according to a poll by Reforma. 43 per cent of respondents want the economy to be the main priority for Felipe Calderón, while 22 per cent select crime.
 Dubai: Another Ponzi Scheme Collapses
 CBS
Over the years, booming oil prices helped turn Dubai into a land of opportunity and playground for the ultra rich. But that was then and this is now. And as CBS News correspondent Sheila MacVicar reports, even Dubai is feeling the pinch of the worldwide economic crisis.
US Manufacturing Slumps to 1980 Low: ISM
 Agence France-Presse
US manufacturing contracted for the fifth consecutive month in December to a 1980 low amid a sharp Asian slowdown and deepening recession in the world's biggest economy, a survey showed Friday.
Factories Slash Output and Jobs Around the World
 Jason Subler & Claudia Parsons
Factories in China, India and Eastern Europe joined the United States and other developed countries in slashing output and jobs in December, another sign recession is spreading to emerging markets.
Holland America, NCL to Host More Gay and Lesbian Cruises in 2009
 Gene Sloan
Things are looking up for RSVP Vacations, the big gay and lesbian cruise operator. After cutting back its offerings this year following a change in ownership, the 22-year-old company is expanding again in 2009 with five cruises aimed at the gay and lesbian market.
Mexico Stocks Stage Strongest Rally in Two Weeks
 Michael O'Boyle
Mexican stocks jumped by the most in more than two weeks on Friday as investors expected further major stimulus packages abroad would jolt economies out of deepening slumps.
Arizona Hiring Law Apprehends None, but is a Deterrent
 Brooke Lorren
About a year ago, Arizona passed a tough law with huge sanctions against employers who knowingly hired illegal immigrants. As a result, Arizona has lost a lot of its attraction as a destination for illegal immigrants.
Mexico Posts 13.5 Bln Peso Fiscal Surplus in Nov
 Noel Randewich
Mexico posted a fiscal surplus of 13.505 billion pesos ($980 million) in November, narrowing from the surplus of 78.372 billion pesos posted in October, the government said on this week.
 Prudential Vallarta Celebrates Christmas and Prepares for an Interesting 2009
 PVNN
The Prudential Vallarta team gathered together on December 23rd to celebrate the season and the year. Broker / Partner Tere Kimball spoke of the company's successes in 2008 and the team's optimism and strength for the year to come.
Mexico Begins to Lift Ban on US Meat Plants
 Noel Randewich & Roberta Rampton
Mexico took steps toward resuming imports of U.S. meat on Monday from a group of plants that had been sanctioned for sanitary issues, officials in both countries said.
Recession and Oppresion Cause Border Economies to Suffer
 Jose Perez
The old adage of the United States economy contracting the sniffles, causing pneumonia in economies around the world, is especially true of Baja California. And especially the Northern half of Baja California.
Prudential Adds Southside Expertise with New Sales Associate
 Nicole Martin
Marilyn Newman, a bilingual real estate specialist, has joined the Vallarta Division team for Prudential California Realty. Originally from Tulsa, Oklahoma, Marilyn has been living in Puerto Vallarta for the past 19 years.
Canada Follows the Americans' Lead in Extending Duration of Work Permits
 Guidy Mamann
In May, I wrote about an announcement by the U.S. immigration service whereby it would start to issue TN work permits to Canadian and Mexican professionals for a maximum duration of three years as opposed to the previous maximum of one year. Canada has now done the same.
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