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 Business News
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 Real Estate Tax Course for Vallarta Realtors
 Nicole Martin
More than 60 area real estate professionals attended a seminar on real estate taxes involving sales and rental transactions given by attorney David Connell and his fiscal expert Gabriela Rojas, both of Connell & Associates, on February 24th.
Mexico's Slim Says His Companies will Create Jobs
 Noel Randewich
Billionaire Carlos Slim said on Tuesday his telecommunications and construction empire will create 34,000 new jobs in Mexico this year, despite the global economic downturn.
Mexico Hopes to Revive Oil Production in New Fields
 Greg Flakus
Mexico has announced the allocation of more than 170 new sites for oil and gas development in an area in the country's northeast region. This comes at a time when production at the country's main field is falling dramatically.
Federal Government, together with Economy Secretariat, to Launch Mexico Business Program
 Presidencia de la República
In order to facilitate the development of the country’s micro, small and medium firms during this international economic juncture, President Felipe Calderón implemented the Mexico Business Program to provide business training and advice.
Mexico’s Peso Falls to Record on Worsening Economic Outlook
 Valerie Rota
Mexico’s currency tumbled to a record for a third day on concern a worsening global economic slump will further erode dollar flows to Latin America’s second-biggest economy.
Mexico Consumer Confidence May Drop, Hurting Sales
 Jens Erik Gould
Mexico’s consumer confidence may tumble to a record low as increasing layoffs and falling remittances lead shoppers to cut back on spending.
US Economy Shrinks at Fastest Pace in 26 Years
 Jeannine Aversa
The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.
Grupo Aeroportuario del Pacifico to Host Investor Day
 PRNewswire
Grupo Aeroportuario del Pacifico will host GAP Day 2009 at the Los Cabos International Airport, located in Los Cabos, Baja California Sur. The event will take place on Friday, March 6, 2009.
 Citigroup’s Special Treatment
 The Real News Network
The once almighty Citigroup is now getting a third lifeline from the U.S. Treasury. This new bailout follows on the heels of a Congressional Oversight Panel report revealing that Citigroup underpaid Treasury by about $19 billion in the first two bailouts.
Foreign Companies React To Mexico Violence
 CBS News
Rising violence in Mexico is forcing foreign companies to change their operating procedures and shipping routes, and to tighten security for their employees, businessmen said this week.
Mexico Studying Effect on Banamex of US Aid to Citi
 Andres R. Martinez & Jens Erik Gould
Mexico’s National Banking and Securities commission said it’s studying the legal impact of the U.S. government’s stake in Citigroup Inc., which owns Grupo Financiero Banamex SA.
Mexico Peso Hits Record Low on US Economy Fears
 Reuters
Mexico's peso hit a record low on Thursday and stocks sank after surprisingly weak U.S. data stoked worries that the economic downturn is deepening in the United States, Mexico's top trading partner.
International and Domestic Tourism Remains Strong
 Vallarta Opina
Mexico's Director of National Touristic Promotion, Miguel Gomez Mont, recently affirmed that despite the present financial crisis and the insecurity in some Mexican cities, the domestic and foreign tourism index has remained unchanged.
Local Labor Problems Result in Lawsuits
 Tribuna de la Bahía
According to Agustin Ortiz, due in large part to the present economic crisis, the number of complaints received by the Puerto Vallarta Workers Conciliation and Arbitration Board this year has increase by more than 100% as compared to 2008.
Stanford Investors Ask U.S. Judge to Allow Lawsuits in Mexico
 Laurel Brubaker Calkins
Two Mexican investors asked a U.S. judge for permission to sue R. Allen Stanford and his companies in Mexico after federal regulators accused the Texas financier of orchestrating an $8 billion fraud.
Mexico Consumer Prices Increase More Than Forecast
 Jens Erik Gould
Mexico’s consumer prices rose more than economists forecast in the first half of February as costs climbed for housing, chicken and beans.
Mexican Consumer Boom Wanes as Downturn Bites
 Robert Campbell
After years of easy spending fueled by cheap loans and a stable economy, Mexican consumers are being careful with their pesos through fear the economic crisis will eat away at hard earned gains.
Federal Government is Using Actions to Deal with Economic Problems: President Calderón
 Presidencia de la República
President Felipe Calderón announced that his government is using actions to deal with the economic problems Mexico, like the rest of the world, is undergoing, adding that in the past two weeks alone, investments of nearly $500 million USD have been announced by various firms.
Wal-Mart de Mexico Aims to Open 252 Stores in 2009
 Ken Parks
Mexico's largest retailer, Wal-Mart de Mexico SAB (WMMVY), said Thursday it plans to invest 11.8 billion pesos ($807.7 million) to open 252 new stores this year as the company expands into new cities.
Mexico Companies' Debt Manageable - Govt
 Jason Lange & Alistair Bell
Mexican companies are not facing substantial problems in making external debt payments this year, the finance ministry's head of debt operations said on Friday.
Mexico Plans to Increase Its Allure for Tourists Everywhere
 Bob Retlaff
While largely rural and still significantly dependent on oil revenues, the country's No. 2 economic engine is tourism, mainly through the development of a number of coastal luxury resorts.
Latin America: Recession Challenges Fair Trade
 Diego Cevallos
The world economic recession is threatening the progress Latin America has made in fair trade. The leaders of this alternative form of exchange are making emergency contacts in order to assess the situation and come up with strategies to confront it.
US Housing Starts Drop to Lowest Ever
 Jack Healy
New-home construction fell to its lowest level on record in January as builders virtually closed up shop amid falling demand, tightened credit markets and a flood of foreclosure properties.
Mexico: 2008 Foreign Investment Down Sharply
Associated Press
Mexico says foreign direct investment in the country dropped sharply to $18.6 billion in 2008, from $27.2 billion in 2007.
Mexico Tourism Revenue Rises 3.5%
 EFE
Mexico earned $13.2 billion from tourism in 2008, 3.5 percent more than in 2007, President Felipe Calderon said in the western state of Sinaloa during the inauguration of the country's biggest new tourist project in the last 25 years.
Analysts Bullish on Mexico Homebuilders
 Gabriela Lopez
Some equity analysts are bullish on Mexican homebuilders, arguing they are likely to benefit from government policies aimed at boosting the housing sector this year despite the grim economic climate.
Making All-Inclusives More Inclusive
 Daniel Gomez
Banderas Bay area visitors who travel outside the compounds of all-inclusive resorts not only have the opportunity to experience the local culture of Puerto Vallarta, but also to make a more substantial financial contribution to the local economy.
Mexico to Lose Up to 300,000 Jobs, Minister Says
 Estelle Shirbon
Mexico risks losing up to 300,000 jobs because of the economic crisis despite a government infrastructure spending program that can employ some 750,000 people, Economy Minister Gerardo Ruiz Mateos said on Monday.
Priciest Mexican Stocks in a Decade Signal Losses
 Michael Patterson
Mexican stocks, Latin America’s worst performers this year, are pricier than their emerging-market peers by the widest gap in a decade, a sign they may drop more.
G7 Sets Sights on 'New World Economic Order'
 Agence France-Presse
The world's richest nations called Saturday for urgent reform of global finance to save the world from the economic devastation that is dragging more and more countries into recession.
Mexico's Car Industry in Crisis
 Robin Emmott
Mexican auto exports and production plunged in January by more than 50 percent from a year earlier, in a dramatic sign of the economic slowdown.
Mexico Pledges Intervention for ‘Foreseeable Future’
 Soraya Permatasari & Angus Whitley
Mexico’s central bank said it will continue to intervene in the foreign-exchange market for the “foreseeable future” after the peso slumped 30 percent in six months to become Latin America’s worst-performing currency.
BBVA Mexico Says in Control of Credit Card Defaults
 Noel Randewich
Spanish bank BBVA's Mexican unit expects to keep defaults on its credit card debt from rising this year, executives said on Monday, despite an expected recession and mounting job layoffs.
New AMPI President Takes Office
 John K. Glaab
At a ceremony attended by several hundred invited guests in Mexico City in January, Pedro Trueba took the pledge of office as the new President of the Mexican Association of Real Estate Professionals (AMPI).
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