Category

Business and Economy
Mexico’s consumer confidence index rebounded in June to an eight-month high as consumers became more optimistic about their ability to buy big-ticket items, raising hopes of a rebound in consumer spending this year. Consumer confidence when adjusted for seasonal swings rose to 91.3 last month from 90.6 the prior month, reaching its highest since October...
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Mexico’s telecommunications regulator has found that Carlos Slim’s fixed-line telephone company, Telmex, and pay-television provider Dish Mexico have undisclosed economic links that might breach anti-trust rules, newspaper El Financiero said on Monday. Slim dominates Mexico’s phone and Internet markets through Telmex parent America Movil, but the terms of Telmex’s concession prevent the company from offering...
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Mexico recorded a slight trade surplus in May amid strong manufacturing exports and higher volume of crude-oil sales overseas, according to the National Statistics Institute, or Inegi, report released Friday. Last month, Mexico’s trade surplus was $131.8mn amid economists’ forecast of a surplus of $250mn. The result in May compared with a $460mn trade deficit...
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Automakers Daimler and Renault-Nissan say they will build a $1.36 billion plant to manufacture Infiniti and Mercedes-Benz brand compact vehicles. The companies announced Friday that construction on the plant would begin in 2015 in the northern state of Aguascalientes. They called it the most ambitious project to date for the joint venture the firms launched...
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Mexico’s economy will continue to recover during the rest of this year… …but the situation in international markets poses risks, the Financial System Stability Council (CESF) said. Foreign demand and the federal government’s stimulus policies should help bolster the recovery in the wake of first-quarter gross domestic product (GDP) growth that came in lower than...
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Automotive News reports BMW is eyeing two locations in Mexico as potential sites for a new BMW Mexico factory. BMW has been thinking about building a new factory in North America, and if it does decide to take that route, future German cars could come from south of the border. Although a concrete decision hasn’t...
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LG Innotek Mexico LG Innotek, a leading global components manufacturer, today opened in Mexico its first overseas plant for the production of auto components to better serve its leading Tier-1 automotive customers and strengthen its global expansion. The opening ceremony for the plant in San Juan del Rio, Queretaro, northwest of Mexico City, was attended...
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The worldwide market for medical tourism in 2013 was said to be worth about $2.847 billion, with by most accounts 7 million patients looking for medical treatment outside their own country every year. As per Patients without Borders, a U.S. business that specializes in the field, Mexico is right now the second most popular medical...
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The LEGO Group, Danish toy manufacturer known for the iconic LEGO® brick, today inaugurated the latest expansion of their factory in Ciénega de Flores, Nuevo Leon, Mexico. The factory supplies the entire American continent with LEGO products, and the new expansion will increase the capacity of the factory significantly. It will be fully operational by...
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Mexico is among the world’s top oil producers, but it’s seen oil production hobbled over the past decade, thanks to a need for investment and expertise. By this summer, approval of legislation tied to the country’s energy reform could help change the landscape for Mexico’s energy sector. As Mexican congressman Javier Treviño recently stated, Mexico’s...
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Mexican Finance Minister Luis Videgaray on Wednesday supported his administration’s recently adjusted Mexico economic growth forecast for 2014, saying things are picking up, helped by indications of a strengthening economy in the United States. Videgaray says the gross domestic product forecast of 2.7 percent indicates a faster growth rate for the rest of 2014, after...
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Auto Production and Exports hit a record level from January-April, climbing 5.8 percent and 8.7 percent, contrasted with the initial four months of 2013, the Mexican Automotive Industry Association, or AMIA, said. Passenger vehicle production and exports arrived at “their best historic level both in the month of April and year-to-date,” the AMIA said in...
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Spanish utility Iberdrola plans to invest at least $5 billion (3.7 billion euros) in Mexico over the six years through 2018, Chairman Ignacio Sanchez Galan said on Monday, as the country opens its traditionally sealed energy market to private investment. “A few days ago we signed a commitment to invest at least $5 billion in...
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Mexico is on the verge of overtaking Chile as the safest destination for bond investors in Latin America. It cost 0.03 percentage point more this week to protect Mexico’s bonds against default than debt from Chile, which is rated four levels higher at AA- by Standard & Poor’s. The premium is now the smallest in...
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Mexico is laying out the welcome mat for Canadian companies to participate in its energy sector, which is opening up to outside investment after more than 75 years of government control. A delegation of Mexican government and business officials came to Calgary on Monday to court Canadian expertise and investment. The country has huge untapped...
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