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...Read More

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...Read More

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...Read More

Mexico’s central bank is in talks with Amazon.com Inc to launch a new government-backed mobile payment system that would allow consumers to pay for online purchases using QR codes, the bank’s head of payments said. It would be the first time the world’s largest online retailer offers such scanning technology in Mexico and could eventually...Read More

The Mexican government faces a one-in-three chance of having its credit rating downgraded over the coming year, as public finances struggle with mounting liabilities and slowing growth, rating agency Standard & Poor’s said on Friday. The New York-based agency maintained the government’s investment grade status at BBB+, but lowered its outlook from stable to negative...Read More

Mexican retail sales fell 3.2 percent in December from the previous month, data showed on Tuesday, the biggest such fall in more than five years for a sector that is a key to the country’s economic health. The figures published by national statistics agency INEGI marked the sharpest decline in sales since August 2013. Goldman...Read More

International lenders active in Mexico are targeting less risky companies to maintain some exposure in a country adjusting to sweeping new policies from the newly-elected left-wing president Andrés Manuel López Obrador. “There is still some uncertainty regarding the new public policies of the new administration, particularly those designed for economic growth. The market is still...Read More

Mexico’s annual inflation eased by more than expected in the first half of February to its lowest level since a liberalization of gasoline prices raised costs at the start of 2017, data from the national statistics agency showed on Friday. Consumer prices rose by 3.89 percent in the first half of February compared with the...Read More

Mexico’s new leftist government is betting on financial technology to help lift people out of poverty. The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more affordable in a nation where more than half the population is unbanked. It is planning a digital payments system run and built...Read More

Mexico will inject $3.6 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix. Falling oil output, corruption and high labor costs have contributed to the decline of the company that was once...Read More

Mexican President Andres Manuel Lopez Obrador launched an ambitious forestry program Friday to plant fruit and timber trees, as well as cacao and coffee, on nearly 1.5 million acres (570,000 hectares) in the country’s south. The government program will pay farmers a wage of about $250 per month to care for plots averaging about 6...Read More

Rating agency Fitch downgraded the credit rating of Mexican state oil company Pemex on Tuesday, sending the peso currency falling in early trading in Asian markets. Mexico’s deputy finance minister said the downgrade didn’t come as a surprise and that the country’s sovereign rating was not at risk. “It doesn’t surprise us, but yes, it...Read More

Grupo Vidanta, the leading resort and tourism developer in Mexico and Latin America, announced today the introduction of The Estates, a one-of-its-kind luxury development to debut at Vidanta Nuevo Vallarta and Vidanta Riviera Maya, two of the company’s seven resort portfolio destinations. Formerly under the name of ‘Jungle Estates,’ The Estates plays a significant role...Read More

Mexico’s main stock index closed out its worst quarter in over 17 years on Monday, dragged down by doubts about how the new leftist government will manage the economy as well as concerns over global growth and trade. The S&P/BMV IPC stock index .MXX lost 15.89 percent in the fourth quarter, its steepest drop for...Read More

Nervous bond holders will pore over Mexico’s budget like never before this weekend to see if leftist President Andres Manuel Lopez Obrador can pull off higher social spending, tax cuts and pricey oil ventures without increasing debt. On Saturday, Lopez Obrador submits his 2019 budget to lawmakers, with markets on tenterhooks to see how he...Read More