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Business and Economy
A federal prison in northern Mexico owned by BlackRock Inc (BLK.N) has gone into operation, the government said, as the world’s largest asset manager expands further into infrastructure investment around the world. A spokeswoman for prison agency OADPRS said that inmates began to arrive in August at the facility, known as CPS Coahuila, and that...
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Mexican annual inflation in the first half of October rose less than expected, official data showed on Wednesday, but the rate was still above the central bank’s target. Mexican inflation in the 12-months through early October rose 4.94 percent, the national statistics institute said, compared to expectations for a 5.00 percent increase in a Reuters...
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Refining company Phillips 66 was awarded a tender to supply Mexico’s Pemex with at least four 350,000-barrel cargoes of U.S. Bakken crude for November delivery, the refining company said on Monday. The purchase, which will be the state-run company’s first crude import in over a decade, was requested last week to cover needed oil supply...
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Will NAFTA 2.0 Really Boost Mexican Wages?
NAFTA is no more. The North American Free Trade Agreement has a new name — the United States-Mexico-Canada Agreement, or USMCA — and its rules have been updated and revamped. For Mexico, there’s one rule in particular that gives workers hope higher wages are coming. It says that 40 percent of a car must be...
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Just two days before the United Kingdom ambassador, Duncan Taylor, leaves his post as diplomatic representative of the European country; he predicted that the next presidential term with Andrés Manuel López Obrador will continue to strengthen ties of friendship and investments in Mexico. “We can invest six thousand million pesos over the next four years...
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The United States can extend a longer line of credit to Mexico if the country faces a currency crisis, according to the terms of a new agreement signed on Wednesday that follows the two countries’ trade deal. Mexico can negotiate for up to $9 billion under a currency “swap line” with the U.S. Treasury Department,...
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This has been one of the most challenging years in the last decade for the domestic aviation industry. The industry has lost $1.6 billion pesos at an operating profit level in the first six months of the year. While Aeromexico has continued to deliver an operating profit, the Company has delivered a net loss so...
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The Mexican Supreme Court on Tuesday struck down a ban on cash fares for ride-hailing firms, setting a key precedent for Uber and other industry players seeking to reach millions of Mexicans without credit cards. By a vote of 8-3, the court ruled that a ban on cash fares in the small western state of...
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mayan train
Grupo Vidanta, a Mexican conglomerate of hotels, resorts and real estate developer, is interested in investing in the construction of the Mayan Train, informed its president, Daniel Chávez Morán, in the Tourism and Social Development forum. “The Mayan Train is a great idea, because in a decade of operation it will double the income of...
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international tourism mexico declines
The month of August registered a decrease of 13% compared to July international tourists visiting Mexico, according to a survey by the International Travelers of the National Institute of Geography and Statistics (INEGI). This new INEGI study showed that during the month of August 7,157,990 international visitors entered Mexico, 13% less than in July 2018...
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Data Center industry to bring more investment to Mexico in 2019
2019 will be a good year for the data center market or data processing center in Mexico, attracting greater investments with the development of infrastructure and the use of new technologies. According to Jose Luis Friebel, CEO of Datacenter Dynamics for Spain and Latin America, noting that the demand for data center service will lead...
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An entrepreneur’s guide to Chihuahua, Mexico’s tech scene
As the world’s most populous Spanish speaking country, Mexico is well positioned to be a startup power. Since the signing of the NAFTA in 1994, Mexico’s real GDP skyrocketed has risen to $1.3 trillion , placing the country second in Latin America and 15th in the world in terms of GDP. However, historically Mexico’s economy...
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As Mexico continues to struggle with a slow-growing economy and a rise in unemployment thanks to automation, savvy individuals are beginning to launch their own micro-businesses to fight back and make a living for themselves. Indeed, entrepreneurship has been on the rise in Mexico, and across Latin America, with more affordable connectivity and technology playing...
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happy employees
Companies that promote the happiness of their employees and their personal strengths increase their profits up to 14 times, said experts in leadership. The teacher of the Master’s Degree in Positive Leadership at Tec Milenio, Robert Rosales, explained that in Mexico less than 12 percent of employees are committed to their company. He commented that...
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Stroll the aisles of any Oxxo in Mexico and you will find the staples of convenience store sustenance: beer, cigarettes, enough candy to keep dentists at full employment. Look closer and you will see this old-school chain is a linchpin of the country’s e-commerce. The retailer, with more than 17,000 locations throughout Mexico, has cracked...
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