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Business and Economy
The Mexican economy will likely slip into recession this year if U.S. President Donald Trump follows through on a threat to impose tariffs on Mexican exports to the United States, a Reuters poll of market analysts showed on Wednesday. Last week, Trump vowed to slap escalating tariffs of 5% from June 10 on all goods...
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President Donald Trump said he expects to begin hitting Mexico with tariffs next week in a long-running dispute over illegal immigration, while Mexican officials predicted an agreement to avoid the penalties would be reached during upcoming negotiations. Trump said Tuesday that the parties would try to work something out, but continued to dangle the threat...
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The Mexican peso slumped to a five-month low and the cost of insuring exposure to Mexico’s sovereign debt rose to its highest in two months after U.S. President Donald Trump threatened to impose 5% tariffs on all imports from its southern neighbor. The Mexican peso sank as much as 3% after Trump said the tariff...
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In a surprise announcement that could derail a major trade deal, President Donald Trump announced Thursday that he is slapping a 5% tariff on all Mexican imports, effective June 10, to pressure the country to do more to crack down on the surge of Central American migrants trying to cross the U.S. border. He said...
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Mexico central bank cut its outlook for growth in Latin America’s No. 2 economy in 2019 to a range of 0.8%-1.8% on Wednesday, citing both global and domestic risks to investment and consumer sentiment. In a quarterly inflation report, the bank said pressures on the economy, which contracted 0.2% in the first quarter compared to...
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Mexico’s Finance Ministry said on Monday it had blocked the bank accounts of the former chief executive of state oil firm Pemex, one of ex-President Enrique Pena Nieto’s closest advisers, for allegedly carrying out “illegal” financial operations. The ministry’s Financial Intelligence Unit (FIU) identified the former CEO of Petroleos Mexicanos (Pemex) as Emilio Lozoya Austin....
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miniso puerto vallarta
The Japanese store Miniso has arrived in the city of Puerto Vallarta with a brand new store in the Galerias Vallarta shopping center, located on Francisco Medina Ascencio. The fashion, accessories and household items chain inaugurated its first store in the port of Jalisco on Friday, May 24, reaching six stores in Jalisco. Prior to...
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ikea mexico
IKEA, the world’s largest furniture seller, will open its first store in Mexico next year and plans to launch other stores around the country, the company said on Wednesday, as it expands in Latin America to counter growing competition in its core U.S. and European markets. The Swedish chain known for its modern and inexpensive...
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Mexican President Andres Manuel Lopez Obrador said on Monday his government will order an end to tax forgiveness for the country’s largest companies, saying $20 billion in exemptions given by his predecessors was akin to theft by gangsters. Of the firms that benefited from tax breaks totaling more than 400 billion pesos, 58 are listed...
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The economy of Mexico shows signs of a slowdown, which will lead the country to growth levels lower than last year, which was 2 percent. Analysts agree that the slowdown is due to the start of a new government administration, which is common to see since the new government is adopting, but also at a...
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Mexico’s annual inflation rate likely accelerated during April, lifted by price hikes over Easter linked to travel and tourism, as well as increasing costs for some goods, a Reuters poll of analysts showed on Monday. The median forecasts of 12 private sector analysts pointed to an uptick in consumer price inflation to 4.41 percent last...
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Mexico’s Senate approved a labor law overhaul Monday night aimed at ensuring workers can freely vote for their union representation and contracts. The new law requires secret-ballot union votes and proof of workers’ consent for contracts. The changes are needed to win approval of the new U.S.-Mexico-Canada trade agreement, which was negotiated to replace the...
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Amazon.com Inc is now accepting cash payments at Mexico’s top corner store chain, Oxxo, the two said on Monday, opening a major channel for the e-commerce leader to reach millions of people in the country who rely heavily on cash. Oxxo, owned by Mexican conglomerate Femsa, has nearly 18,000 stores across Mexico, where nearly 60...
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uber puerto vallarta
Mexico’s central bank is working to find a way for ride-hailing giant Uber Technologies Inc to participate in a new mobile payments system, the bank’s governor said on Friday. In an interview, Banco de Mexico Governor Alejandro Diaz de Leon said the bank was seeking to get more companies on board with the system aimed...
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Mexican consumer confidence rose in February for a third consecutive month, hitting its highest level on record, data from the national statistics agency showed on Tuesday. Adjusted for seasonal swings, Mexico’s consumer confidence index rose to 119.9 in February from 113.2 in January, continuing the upward trajectory it has taken since President Andres Manuel Lopez...
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