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Business and Economy
There is nothing sweet in the sugar war that is unfolding between Mexico and the United States. The U.S. industry, sometimes called Big Sugar, simmers over soaring competition from Mexico and argues that a doubling of Mexican exports triggered a collapse in the market price of sugar. A reluctant Obama administration has opened a formal...
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Tremors that shook the small town of Ramones in northeast Mexico in October were a nasty surprise to residents, including many sorghum and cattle farmers, because the area of the country had little history of earthquakes. But they weren’t a freak occurrence. The vibrations grew more frequent into this spring, cracking the walls of some...
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Hyatt Hotels Corporation (NYSE: H) today announced plans to introduce its Hyatt House extended stay brand in Mexico with the signing of a franchise agreement between a Hyatt affiliate and Fideicomiso de Actividad Empresarial for Hyatt House Santa Fe in Mexico City. The hotel is expected to open in 2016, and it will be managed...
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Mexico’s central bank is expected to hold its main interest rate steady on Friday as easing inflation pressures give policymakers room to leave borrowing costs low to support an economic recovery. All 25 analysts surveyed by Reuters last week expected the central bank to hold its main interest rate at a record low of 3.50...
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At the Beijing Motor Show, a lot of the talk surrounded the Golf R400 Concept based on the Golf R hatchback, but there was another reveal named the New Midsize Coupe (NMC) Concept that didn’t play second fiddle. Fast-forward a week later and we are now hearing reports from Automotive News that the NMC will...
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Mexican billionaire Carlos Slim struck an 11th-hour deal with the Austrian government on Wednesday to pool their stakes in Telekom Austria, paving the way for Slim to take control of the Austrian phone company. Slim’s telecoms giant, America Movil (AMXL.MX), agreed to vote in favor of a 1 billion euro capital increase for Telekom Austria...
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Mexican state-owned oil giant Petroleos Mexicanos said Tuesday it is looking to forge partnerships and associations with domestic and foreign oil companies in a bid to bolster its competitiveness. “What we’re looking to do is to promote synergies between Petroleos Mexicanos and its suppliers, contractors, partners and technologists – as well as with higher education...
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Mexican authorities said here Tuesday they would hold auctions in the near future for five new natural gas pipelines, which are to be built at a cost of $2.25 billion. The CEO of Comision Federal de Electricidad, or CFE, Enrique Ochoa, said in a statement that the state-owned electric utility and the Energy Secretariat would...
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Mexico is set to be among the fastest-growing markets in Latin America’s business-to-consumer (B2C) ecommerce sales. According to estimates by eMarketer, the B2C ecommerce sales in Mexico will increase by 20 percentage points this year, which will equate to approximately $11.43 billion in 2014. Digital sales in Mexico are also expected to expand at a...
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Manufacturing in Mexico has expanded rapidly in recent years, giving China and other Asian nations the first serious competition they’ve seen in decades. The rising cost of fuel, combined with higher wages in some Asian nations, has encouraged a growing number of major international corporations – especially those who manufacture heavy industrial items – to...
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Mexico is quickly becoming a hotspot for international investors and financial institutions worldwide following a slew of historic reforms in late 2013 that opened up Mexico’s national oil company (PEMEX) to foreign investment in its considerable oil and gas reserves for the first time in 76 years. “According to the latest estimates from the U.S....
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“I personally have two missions: The first is to help people, the second is to make beautiful things,” said Sellers, founder of Quality Skills Center in Higuera Blanca, Mexico. “My priority is to keep these artisans and apprentices of Quality Skills Center working.” There are a myriad of things that can go wrong in the...
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Rodolfo Gonzalez Munguia has been named Managing Director of the Grand Velas Riviera Maya. The appointment is effective immediately. “We look forward to his talented leadership helping us reach even higher levels of distinction, service and excellence in our “Beyond All Inclusive, Beyond all Compare” resort, ” said Eduardo Vela Ruiz, President of Velas Resorts....
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Recently, the World Bank released statistics revealing, for the first time in history, that by 2016 Latin America’s middle classes will outnumber the region’s poor. For a region that has been marked by exclusion, poverty and inequality this is no small matter. The rise of this arriviste class comes from more than two decades of...
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In the next two weeks, Mexico’s lawmakers are expected to release a series of Mexico energy reform bills, known as the secondary laws, that should begin to delineate how the revolutionary energy reforms approved last December will be implemented. Prior to the reforms, Mexico had the most closed energy regime of any country in the...
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