Category

Business and Economy
Kia Motors Corp. is in talks with Mexico to open a new auto assembly plant worth at least $1.5 billion, officials from Nuevo Leon’s state government said on Tuesday. Rolando Zubiran, secretary of economic development in Nuevo Leon, said negotiations on the plant were under way and involved Nuevo Leon, the Mexican federal government and...
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Low minimum-wage hurts the Mexican economy as many people make more money working “under the table”, an estimated 60% of working people, and not paying taxes. National attention in Mexico has focused on the country’s shockingly low minimum wage after the Mexico City government suggested it could act to increase the local minimum. The debate...
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Carlos Slim, the world’s second richest man and by far the richest person in Mexico, is advising Mexico’s young people to make their lives and fortune outside of Mexico, and he’ll even help pay for it, Newsradio 1200 WOAI reports. Slim, who made billions in telecommunications and marketing, has established a pilot program to help...
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Mexico’s state-owned oil company, Pemex, is poised to abandon a decades-old devotion to self-sufficiency in crude oil, entering talks with U.S. companies about importing light crude from its northern neighbor, where output is booming. Chief Executive Emilio Lozoya said in an interview late on Thursday that Pemex was very likely to start importing light crude...
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Mexico’s unemployment rate fell to 4.9 percent of the workforce in the second quarter of 2014, down slightly from 5 percent in the same period of last year, authorities said. A total of 2.5 million people were out of work in the April-June period in Mexico, whose workforce of 52.1 million people represents 58.6 of...
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Mexico’s Grupo Televisa said on Thursday it paid 8.55 billion pesos ($653.96 million) to acquire the remaining shares in Mexican cable company Cablecom it did not already own. Televisa, the world’s largest provider of Spanish-language content, last year paid 7 billion pesos to buy 51 percent of the company with an option to buy the...
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The issue of Mexico’s low national minimum wage is gaining national attention after the government of Mexico City suggested it could act to raise the salary on a local level. The debate at a city-sponsored forum this week highlights the near-universal dissatisfaction with the country’s minimum wage of just over 67 pesos per day, or...
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Mexico’s auto production and exports in the first seven months of 2014 hit record highs, rising 7.5 percent and 11.2 percent, respectively, from the same period of last year. The AMIA industry association said both output and exports of light vehicles climbed to historically high levels, “both for the month and the cumulative” January-July period....
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Mexico has passed laws to open its oil, gas and electric industries to private and foreign investors after 76 years of state control. Now comes the hard part. Experts say Mexico’s hopes for tens of billions of dollars in outside investment, and possibly a shale gas boom like the one occurring across the border in...
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A report published by Wealth Daily and written by investment research specialist Carl Delfield charts Mexico’s clear path to economic success over the coming months and years as China’s growing economic challenges help shift the complicated trade and investment relationships that exist between this Asian giant, Mexico and the U.S. “According to consultant AlixPartners, Mexico...
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Hoping to tap the fast-growing Hispanic market, Anheuser-Busch is importing its first Mexican lager to the U.S. The subsidiary of Belgium-based Anheuser-Busch InBev, the world’s largest beer maker, said Wednesday that starting next month it will sell Montejo lager in bars, restaurants and grocery stores in California, Texas, Arizona and New Mexico. The move comes...
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Mexico’s economic growth accelerated in the second quarter, thanks to a 5.4 percent rise in non-petroleum exports, Finance Secretariat Economic Planning Unit chief Ernesto Revilla said. Exports “are really performing with a very important velocity,” Revilla said. “The June figure is that exports grew 7.7 percent” on an annualized basis, the biggest increase since October...
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Wine Institute President joined Governor Brown’s trade mission to Mexico City this week to help spur sales of California wines in its sixth largest export market. U.S. wine exports to Mexico, 90% from the Golden State, reached $21.5 million in 2013, up 21% from the previous year, accounting for 2% of the state’s record $1.5...
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Mexico’s economy has shown signs of stronger growth in the second quarter, the finance ministry’s chief economist Ernesto Revilla said on Wednesday. The economy grew at an only 1.8 percent annual rate in the first quarter, pushing the finance ministry in May cut its annual growth forecast for 2014 to 2.7 percent from 3.9 percent....
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Standing in front of the assembly line in Volkswagen’s massive campus in Puebla, Mexico, 35-year-old line boss Milton Araujo, looked at the shiny new Volkswagen Beetles rolling off the conveyer belt, illuminated by the bright lights overhead. “Back in the day, everybody had a Beetle,” he told Fox News Latino. “Now the car is different,...
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