Business & Economy News

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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...

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Business and Economy News

MEXICO BUSINESS AND ECONOMY NEWS FROM THE NUMBER ONE ENGLISH NEWS SOURCE SERVING PUERTO VALLARTA, THE BAY OF BANDERAS AND BEYOND.

Mexican president launches ambitious forestry, orchard plan

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...

Fitch downgrades Mexico’s Pemex rating; peso falls

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...

Grupo Vidanta Announces New Luxury Development

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...

Mexico stocks post worst quarter in 17 years

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...

Mexico’s new budget: fiscal miracle or a December disaster?

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...

Lowe’s to get rid of Mexico stores in further restructuring

Lowe’s Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and two of its smaller U.S. businesses as the country’s second-biggest home improvement chain strives to compete with rivals including Home Depot. Shares of the Mooresville, North Carolina-based company fell nearly 3.6 percent in morning trading after Lowe’s blamed...

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