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 Business News
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The Battle for Banamex
 Edgar Amador
Finance is the continuation of war through other means, and the battle for Banamex, Mexico's second-largest lender, will stand out in history as one of the landmark events of this century's financial history.
 New Financing Programs Now Available for Punta Mita Buyers
 Business Wire
For the first time, developers within Punta Mita are offering below-market financing rates for buyers of select properties at this prestigious 1,500-acre gated community on Mexico's Pacific Coast.
Mexico Outsourcing: Violence Worries Rise
 Rachael King
A spate of killings over five days in late January in Mexico served as a grisly reminder of the rising tide of drug-related violence just south of the U.S. border.
Mexico Economy to Shrink in 2009 - CenBank Poll
 Michael O'Boyle
Mexico's economy will likely shrink by 1.16 percent this year as the recession in the United States saps growth in its southern neighbor, according to analysts in a central bank poll released this week.
Mexico’s Central Bank Intervenes to Halt Peso Slide
 Valerie Rota & Hugh Collins
Mexico’s central bank is buying pesos in the foreign-exchange market after the currency plunged to a record low today, the bank’s press office said.
Top 10 Smartest $1 Investments
 John Q. Reader
In these times of economic uncertainty one has to be ingenious in getting more for one's money. Have a dollar in your pocket? Don't know what you can do with it? Here are some ideas.
Mexico Hurt By Vulnerability To US Economic Downturn
 Claudia Assis
Discouraging economic forecasts out of Mexico have heightened fears that difficult times in the U.S. will translate into greater pain south of the border.
Mexico's Peso Weakens to Record Low to 14.64
 Associated Press
Mexico's peso dipped to a new low against the U.S. dollar on Tuesday as recession fears mounted in both countries. The peso's slip to 14.64 prompted the Central Bank to sell $400 million in foreign reserves to boost the sagging currency.
Global Market Review of Tequila - Forecasts to 2013
 Just-Drinks
Some 17 out of the top 20 global Tequila markets (including travel retail) posted gains over the 2002-2006 period.
World Economic Forum: Davos Under Fire
 Gustavo Capdevila
One of the few indicators on the rise at this time of economic and financial crisis is the level of repudiation expressed about those responsible for the disaster, and about the institutions sponsoring them.
Mexico's Oil Production Hits 14-Year Low
 Carmen Gentile
Oil production by Mexican state-owned company PEMEX fell by more than 9 percent in 2008 because of depleted reserves, according to energy officials.
Mexico 4Q Economy Shrinks, Inches Toward Recession
 Mark Stevenson
Mexico's economy shrank at an annual rate of 1 percent in the fourth quarter, reducing its 2008 growth rate to 1.5 percent as the world economic crisis choked credit, slashed exports and decreased money sent home by migrants in the U.S.
Mexico Peso Stuns UBS With Biggest Drop Since 1995
 Andres R. Martinez & Valerie Rota
After weakening 20 percent last year, the currency fell to a record closing low of 14.2431 per dollar this week. RBS Greenwich Capital Markets in Greenwich, Connecticut, now predicts another 4.3 percent drop by June 30.
Slowdown Hits Mexico Remittances
 BBC News
Mexicans living abroad sent home less money per year in 2008 for the first time on record as the US slowdown hit migrants' earnings.
Mexico Central Bank Expects Economy to Contract
 Ken Parks
Bank of Mexico Gov. Guillermo Ortiz said Tuesday the central bank expects the economy to contract between 0.8% and 1.8% this year due to a recession in the U.S., after growing an estimated 1.5% in 2008.
Mexico's Pemex Expects Wider Loss in 2008
Robert Campbell
Mexico's state oil company Pemex said on Tuesday it expected its net loss in 2008 to be "significantly greater" than its 2007 results due to the sharp drop in oil prices in the fourth quarter.
Mexico's First Bank for Foreign Residents & Visitors
 PVNN
BBVA Bancomer, through its Preferred Customers' Unit, is Mexico's first bank to cater to the special needs of foreign residents and visitors, using not only the English language, but also the financial language you are accustomed to back home.
We Will Begin a New Chapter in Public Finances, in Which They Will be Conducted More Transparently: President Calderón
 Presidencia de la República
President Felipe Calderón confirmed that it is his government’s premise to protect the population's resources, adding that the establishment of the National Council of Fiscal Harmonization is designed to boost citizens’ confidence in their governments.
Mexico’s Peso Falls After U.S. Consumer Confidence Plunges
Valerie Rota
Mexico’s peso fell for a second day after U.S. Consumer confidence unexpectedly slid to a record low, signaling demand for Mexican exports from its biggest trading partner may erode further.
Punta Colonet Port Project Put on Hold
 Frontera NorteSur
A massive port planned for Mexico's Baja California peninsula could be among the latest casualties of the world financial crisis.
US Weighs Strategies to Stem Home Foreclosures
 Peter Y. Hong & Maura Reynolds
The Obama administration has vowed action, but it faces a challenge in crafting a plan that promotes refinancings without unfairly benefiting irresponsible borrowers or lenders.
Flood of US Foreclosures: It's Worse Than You Think
 Les Christie
Banks are moving slowly to list repossessed homes for sale, which could mean that housing inventory is even more bloated than current statistics indicate.
Spain's BBVA Sees Growth In Cross-Border Mortgages In 2009
 Ken Parks
Spain's second-largest bank Banco Bilbao Vizcaya Argentaria SA (BBV) expects its cross-border mortgage business aimed at affluent U.S. citizens and Canadians who want to buy property in Mexico to continue growing this year even amid a global economic downturn, according to a company executive.
Diesel Prices Affect Mexico Fishing
Prensa Latina
The price of diesel will go up again Saturday, in the middle of a strike by fishing sector workers because of the price increase, which makes their work impossible.
Mexico Tycoon Slim Eyes More Bargain Investments
 Tomas Sarmiento & Noel Randewich
Mexican billionaire Carlos Slim, the world's second wealthiest man, is eyeing more investments in companies hard hit by the global credit debacle, his spokesman said on Thursday.
US Cable Companies Tune in Mexican Channels
 Ayala Ben-Yehuda
After launching two entertainment channels in Texas last fall, Mexico's Grupo Multimedios plans to enter more Spanish-speaking markets in the U.S.
Mexico's Inflation Dips in Early January
Associated Press
Mexico's central bank says the country's stubbornly high inflation has dipped in early January because of lower prices for electricity and some fruits and vegetables.
Mexico Homebuilder Ara Sees Revenue Drop in 2008
 Mica Rosenberg & Tomas Sarmiento
Ara, one of Mexico's leading homebuilders, warned on Wednesday that its 2008 results would be weaker than a year earlier as the Mexican economy has been hit by troubles in U.S. markets.
Urbi Enters the Mexico City Market With Low-Rise Vertical Housing
 PRNewswire
Urbi announces the beginning of a pilot program for Low-Rise Vertical Housing aimed at workers that qualify for the Infonavit Total mortgage, under its VidaResidencial concept; which takes advantage of unused or underused spaces in Mexico City.
Mexico's December Jobless Rate Up At 4.32% Vs 3.4% Year Ago
 Peter Millard
Mexico's unemployment rate rose in December to 4.32% in December, up from 3.4% in the year-ago month, reported the national statistics institute, or Inegi, on Wednesday.
Mexican Retailers Brace for Weaker Sales in 2009
 Cyntia Barrera Diaz
Sales of Mexican retailers are set to decline further this year as a choppy economy hurts consumption, retailers group ANTAD warned on Wednesday.
Obama’s Inauguration was Financed Partially by Bailed-Out Wall Street Executives
 Scott Mayerowitz
The country is in the middle of the worst economic downturn since the Great Depression, which didn't stop rich donors and the government from spending $170 million, or more, on the inauguration of Barack Obama.
Bargains Lure Mexico's Slim Back Into Action
 Noel Randewich & Tomas Sarmiento
Carlos Slim has become one of the world's richest men by buying companies that are struggling for survival. Now, some think the semi-retired tycoon may cement his position by taking advantage of the current economic turmoil.
Mexico Turns to Tourism in Midst of Economic Crisis
 Olga R. Rodriguez
Mexico is counting on its weakened currency against the dollar and its proximity to the U.S. to attract recession-shocked Americans and fuel its tourism industry — a major source of foreign income.
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