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 Business News
NAFTA Super Highway
 Wayne Weisser
I'm not one for conspiracy theories, but this one is already underway. This sounds complicated, but it's not. A super highway from deep in Mexico so the cheap crap from China bypasses Unions in Long Beach USA ports. Container get dropped on cheap Mexican trucks and trains bypassing United States drivers and train operators.more »»»
Mexico's Beefed-Up Stock Market Rules Kick in Soon
 Reuters
Mexican companies and businessmen who cheat investors will face stiffer penalties beginning on Wednesday as a new stock market law meant to attract more foreign investment goes into effect.more »»»
Anti-NAFTA Sentiment Rising in Mexico
 Frontera NorteSur
Concerned about the looming elimination of tariffs on different agricultural products, Mexican farm and labor organizations are renewing calls for a renegotiation of sections of the North American Free Trade Agreement (NAFTA).more »»»
Best Mexico Links Nations, Sets Standard
 Mary Lou Pickel
Viscom International ignored the rules and put all its eggs in one basket. Founder John Wise built his company on selling one telephone card for calling one country: Mexico. He stuck to the game plan for six years, and now Atlanta-based Viscom brings in $14 million a year.more »»»
Western Union Hastens to Mollify Miffed Mexicans
 Oscar Avila
Western Union, the money-transfer giant that dominates so many immigrant neighborhoods, has been targeted with criticism and even a class-action lawsuit for taking too much of the money immigrants send home. Now the company is winning praise for adding to the funds flowing to Mexico.more »»»
Disaster Insurance in Mexico to Rise
 Associated Press
The cost of insurance coverage against hurricanes and other meteorological risks will rise dramatically following last year's record hurricane season, according to re-insurers who picked up most of the tab from the storms.more »»»
Mexican Tourism Revenue at $1.07 Bln April 2006
 AII Data Processing Ltd
Mexico registered a tourism revenue of $1.074 bln (853.51 mln euro) in April 2006, up 4.62 pct year-on-year, the central bank, Banco de Mexico (Banxico), said on June 19, 2006. The result, registered in April 2006, represented the first year-on-year increase for a month in the last six months.more »»»
Lopez Obrador to Avoid Chaos if Defeated
 Greg Brosnan
Investors worry that Lopez Obrador, a former Indian welfare officer, could summon angry supporters onto the streets if he loses on July 2, causing political gridlock and maybe even violence that could rock financial markets.more »»»
Mexican Port Delayed
 Diane Lindquist
Mexico's plans to develop a major container port at Punta Colonet in Baja California to transfer Asian goods into America's heartland have stalled. The proposed port at Punta Colonet would be as large as the ports of Long Beach and Los Angeles combined.more »»»
U.S., Mexico, Canada Officials Laud Ties
 Martin Crutsinger
Trade officials from the United States, Canada and Mexico said Thursday the nations' economic ties have grown stronger despite strains over immigration and border security.more »»»
Candidate Reassures Business Leaders
 Sandra Dibble
On a swing through Mexico's northern border region yesterday, Mexico's leftist presidential candidate sought to reassure business leaders that they have a place in his vision for a more just Mexico.more »»»
Mexican Government to Expand Puerto Vallarta Cruise Facilities
 MarketWatch
The Mexican government plans to invest 273.4 million pesos ($24 million) to build two new berths at Puerto Vallarta big enough to receive 300-meter-long cruise ships, the port administrator said. more »»»
Vendors Drive Mexico's 'Informal' Economy
 Lourdes Garcia-Navarro
An estimated half of all jobs in Mexico come from the informal economy. Millions of people work on the streets doing odd jobs, selling and buying anything they can, with no official oversight or support.more »»»
Leak: Ford Craves Mexico
 Press Automotive
Ford Motor Co. is preparing to make a major multibillion dollar investment in Mexico as part of the company's sweeping Way Forward restructuring that started last year. The investment is included in a confidential, 28-page document turned over to The Oakland Press by a disgruntled Ford employee.more »»»
Mexican Candidates Question NAFTA
 Truth About Trade & Technology
Mexican presidential candidates questioned supposed benefits the North American Free Trade Agreement (NAFTA) has reported to the nation. Candidates also tackled federalism and agreed on the need to eradicate inequality in the Aztec country.more »»»
Mexico Stands at Crossroads on Energy Policy
 Mark Stevenson
In the midst of Mexico's biggest oil boom since the 1970s, the nation's top two presidential candidates are debating whether to turn outward and open oil to private investors – or inward by exporting less crude and giving Mexicans subsidized gasoline.more »»»
Volaris Takes Delivery of A319
 airsider.net
Volaris, a Mexican low fares airline based in Toluca, close to Mexico City, has received the first two Airbus A319 directly ordered from Airbus. In January 2006, the new Mexican start-up airline signed a contract with Airbus for the acquisition of 16 new A319s with options for up to 40 additional A320 aircraft.more »»»
Mexico Candidate Calls for U.S. Investment
 Will Weissert
Conservative presidential candidate Felipe Calderon said Friday that the United States and Canada should help build a Mexican economy strong enough to keep people from migrating north in search of work. Calderon said he would like to see an international development plan similar to those used by the European Union to jump-start Ireland and Spain's economies, which now are booming.more »»»
Elections Unlikely to Sway Mexico Economy
 Traci Carl
The presidency is up for grabs. Congress is anybody's guess. But when it comes to Mexico's business world, the big boys still rule. The July 2 elections will likely bring new economic policies to this emerging democracy, but few expect sweeping changes in Mexico, where the minimum wage is only $4.50 a day and both government and corporate giants are controlled by an almost tribal elite.more »»»
Growing Mexican Economy May Tip Elections
 Will Weissert
Lagging economically for most of President Vicente Fox's term, Mexico is registering its highest growth rates in nearly six years. Public coffers are overflowing with oil profits, manageable inflation is keeping the peso under control, the housing market is booming and an economic recovery in the United States is helping Mexican exports.more »»»
In Mexico, Pushing Big Banks to Lend Small
 Adriana Arai
Every March, Mexican bankers fly to the coastal resort of Acapulco for a two-day conference to discuss financial issues - and to throw a party. But there is one item on the agenda the executives do not look forward to: the tongue-lashing they must endure from Guillermo Ortiz, the governor of the Bank of Mexico.more »»»
Latinos Launch Bank to Meet Growing Wealth Needs
 Reuters
Financial services for Latinos may mean money wires and store credit to many, but a group of wealthy Latinos says it is time to take banking for their fast-growing community to a more sophisticated level. Together with non-Latino investors they will soon launch Promerica Bank.more »»»
Mexico's Banorte, Texas' Inter National Bank to Offer Free Cross-Border Fund Transfers
 Associated Press
Mexican banking group Grupo Financiero Banorte has started offering free cross-border account transfer services with Texan Inter National Bank. Banorte and INB clients can now transfer funds and cash checks at either bank free of charge, the Mexican bank said in a news release this week.more »»»
Mexican Stocks Surge Back but Peso Loses Ground
 Reuters
Mexican stocks rallied on Friday, as investors took advantage of beaten down share prices to look for bargains but the peso lost ground amid nervousness about the country's tight presidential election race. The IPC index of leading shares gained 1.53 percent to 19,421.73 points, up for a second straight day.more »»»
Remittances from Mexicans Abroad Up 17 Percent in April from Last Year
 Associated Press
Mexicans living abroad sent US$1.8 billion (euro1.4 billion) back home in April, up 17 percent from the same month a year earlier. Remittances into Mexico totaled US$7 billion (euro5.5 billion) during the first four months of the year, up 25 percent from the comparable 2005 period, the Bank of Mexico said.more »»»
Mexican Tourism Revenue at $3.25 Bln Q1 2006
 Invertia
Mexican revenue from tourism totalled $3.25 bln (2.55 bln euro) in the first quarter of 2006, down 5.49 pct year-on-year, figures of the central bank, Banco de Mexico (Banxico), showed on May 31, 2006. more »»»
UBS Eyes New Branches in Mexico, Korea, Netherlands
 Reuters
UBS AG, the world's largest wealth manager, said on Wednesday it was considering opening bank branches in the Netherlands, Korea and Mexico in a push to attract wealthy clients in their home countries.more »»»
Investments in Port Developments Multiplying
 Robin Brundell
Despite the fact that over the last five years the Mexican port system has accumulated some US$2.74bn in investments in the extension and modernization of infrastructure and equipment, there are a host of projects already underway in the country and various other significant schemes have been proposed which involve around US$12.5bn over the coming years.more »»»
Chavez Uses Oil Profits to Build Political Power
 Jim Sciutto
On nearly every corner of the capital Caracas, today's Venezuela overflows with energy and pride. Travel hundreds of miles west to Maracaibo, and you'll find the secret of this country's remarkable rise, the richest oil reserves in the Western Hemisphere and the source of 11 percent of U.S. oil imports.more »»»
Jury Convicts Enron's Skilling and Lay
 Carrie Johnson
A federal jury today convicted former Enron chairman Kenneth L. Lay of each of the six counts with which he was charged and convicted his protege Jeffrey K. Skilling of 19 of 28 counts, holding the top executives accountable for fraud on their watch.more »»»
Fox Asks Congress to Eliminate Soft-Drink Tax to Abide by WTO Ruling
 Associated Press
Mexican President Vicente Fox has asked Congress to eliminate a 20 percent tax on corn syrup sweetened soft drinks to abide with a World Trade Organization ruling. In a presidential decree issued Tuesday, Fox urged legislators to act quickly to avoid U.S. trade reprisals against Mexico.more »»»
Mexican Stocks, Peso Plunge on Rate Concerns
 Reuters
Mexican stocks slumped 4.03 percent on Monday and the peso lost ground as a rout in commodities prices and fears about rising U.S. interest rates shook the confidence of emerging markets investors. The IPC benchmark stock index retreated 812.85 points to close at 19,369.29 points. It was its steepest one-day drop since Sept. 19, 2002.more »»»
Study: Workplace Equality Improving
 Eduardo Jardón
Government statistics show that most women in the workforce are more educated than their male counterparts. The percentage of women in Mexico´s labor pool has increased in recent years, and the income gap between women and men has lessened, according to a recent government study.more »»»
Labor's Role in Mexico's Vote Altered in Fox Era
 David Gaddis Smith
Mexico's labor union and agricultural sectors have fractured in the six years since the former ruling party was voted out of power, experts said yesterday at the University of California San Diego. During its 71-year hold on Mexico's presidency, the Institutional Revolutionary Party, or PRI, largely held sway over Mexico's farmworker and labor union sectors.more »»»
Mexican Economy Grows 5.5% on Strength of Autos and Oil
 Elisabeth Malkin
Mexico's economy expanded 5.5 percent in the first quarter over the similar period last year, the Finance Ministry said this week, the fastest growth since 2000. Economists pointed to the data as evidence that Mexican industry was recovering from the shock of Chinese competition. A surge in manufacturing that began late last year and increased construction spending was behind the growth, analysts said.more »»»
Ex-Clinton Aide Calls for Mexico Marshall Plan
 Bernie Woodall
The United States could reduce illegal immigration from Mexico by helping its neighbor develop its vast oil resources, Thomas McLarty, former chief of staff for President Bill Clinton told an industry conference on Wednesday.more »»»
Mexico is Offering Bonds to Cover a Major Quake
 Elisabeth Malkin
The Mexican government has tapped international markets to issue a special catastrophe bond to finance rescue and rebuilding in case of a disastrous earthquake. The $160 million bond is part of a larger $450 million insurance package over the next three years that will cost the Mexican government $26 million.more »»»
Mr. Fox, Cough Up $300,000
 Tomas Alex Tizon
Out of ideas and low on cash one cold morning, the man with the biggest badge in town put his meaty fingers on a keyboard and tapped out a letter to the leader of Mexico. "Dear Precidente [sic] Fox," it began. "My name is John Trumbo."more »»»
Mexican President Hits at Leftist Threat
 Daniel Dombey
Vicente Fox, president of Mexico, yesterday delivered a salvo against the leftwing policies of Venezuela and Bolivia, warning that protectionism and nationalisation could damage the prospects of Latin America.more »»»
Mexico's Central Banker Shoots Down Talk of New Crisis
 Adam Thomson
The governor of Mexico's central bank has dismissed any apparent similarity between the recent rise in global interest rates and the 1994 rate rise that helped trigger the financial crash known as the Tequila crisis. "The situation today is very, very different," Guillermo Ortiz told the Financial Times.more »»»
Mexico's Leftist Candidate Walks Fine Line
 E. Eduardo Castillo
In public, Mexico's leftist presidential candidate Andres Manuel Lopez Obrador calls bankers parasites and says they have forgotten the common man. In private, his economic advisers — led by Cambridge-educated Rogelio Ramirez de la O — assure members of the private sector that Lopez Obrador is not their enemy and won't try to bring a new economic model to Mexico.more »»»
Oil a Sticky Issue for Next Mexico President
 Catherine Bremer
Although oil exports finance more than a third of government spending, the bonanzas of current and past booms have rarely touched the poor, and one in every two Mexicans still struggles on less than $5 a day.more »»»
May 1 'Day Without Immigrants' had Zero Impact
 Jessica Bennett
They marched in big cities and small towns. And as hundreds of thousands of illegal immigrants took to the streets, they hoped for a dramatic impact: to prove to America that their work was significant to the successful function of the U.S. economy.more »»»
Mexico Says New Jobs to Ease Emigration to US
 Reuters
Mexico is working hard to create jobs so that its people do not have to emigrate to find work and expects to add up to 1 million new jobs this year, Mexican Economy Minister Sergio Garcia said on Thursday.more »»»
Billionaire Slim Pushes Mexican Growth Plan that Aids His Firms
 Bloomberg
Carlos Slim, who has amassed a $30 billion fortune building Latin America's biggest telecommunications empire, has stepped aside from running companies to try to set the economic and social agenda for Mexico. Although he's not running in the July 2 presidential election, Slim has been acting like a candidate.more »»»
US Business Group Says Little Effect Seen from Mexican Boycott
 AP
The boycott of US businesses in Mexico, timed to coincide with the "Great American Boycott" in the US, apparently had little effect except at the border, where several hundred pro-boycott protesters blocked traffic on a bridge leading into the states, forcing many drivers to turn back.more »»»
Dollar Declines On Trade Deficit
 Paul Blustein
The U.S. dollar is having a sinking spell - which is good news for U.S. manufacturers and bad news for American tourists traveling abroad. Spurring the greenback's slide are recent statements by top economic policymakers, notably declarations about the need to reduce global trade imbalances.more »»»
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