America Movil to Spin Off Mexico Towers Amid Breakup Plans

July 23, 2014

07/22/14 Bloomberg

Energy -electricity_transmission_linesAmerica Movil SAB is planning a spinoff of its wireless towers in Mexico as the company studies how to break apart its wireless and landline phone operations in the country, where tougher regulations are cutting into profits.

A spinoff will better reflect the value of the towers, which can be rented to competitors, Chief Executive Officer Daniel Hajj said today on a conference call. The company continues to work on a breakup plan to present to Mexico’s telecommunications regulator, which can revoke penalties against the carrier if its market share falls below 50 percent.

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Mexico’s Coca-Cola Femsa reports lower second-quarter profit

July 23, 2014

07/23/14 Reuters

Coca Cola BottlesMexican Coke bottler Coca-Cola Femsa said on Wednesday its second-quarter profit fell 4.6 percent in spite of higher sales as it faced restructuring charges and paid more interest on debt it took on to acquire businesses in Brazil.

Femsa reported a second-quarter profit of 2.68 billion pesos ($206 million), compared to a profit of 2.81 billion pesos in the year-earlier period.

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What’s Driving Mexico’s Growth?

July 23, 2014

07/22/14 Forbes

shutterstock_102739391Mexico’s increasing purchasing power, as well as key reforms passed by recently elected President Enrique Peña Nieto, have contributed to what economic experts at HSBC say may become the world’s eighth-biggest economy by 2050. While it hasn’t received the recent media attention of other emerging economies like Brazil or India, Mexico has quietly positioned itself to be a major economic force in the long term.

One of the primary drivers of Mexico’s recent growth comes from the manufacturing sector. Merchandise goods rose three percent in 2013, a modest but encouraging gain, and one that is expected to improve over the remainder of 2014. Global economic recovery is expected to help Mexico continue its own improvement, especially in the appliances industry, which is expected to grow significantly in the near future. The Boston Consulting Group expressed substantial confidence in Mexico’s manufacturing, noting that manufacturing could add between $20 billion and $60 billion to Mexico’s economy through 2018.

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Mexico’s Oil And Gas Industry Is Open To Foreign Investment For The First Time In Over 75 Years

July 23, 2014

07/23/14 Business Insider

gas pipeline and gaugeMexico’s Senate has approved legislation to implement historic constitutional reform that would open the country’s oil and gas industry to foreign investment for the first time since 1938.

In an 85-26 vote, lawmakers passed the last of four packages of laws Monday to end the monopoly held by state oil company Pemex for 75 years in the exploration and exploitation of energy resources.

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Kia in talks to open $1.5 bln Mexico plant

July 23, 2014

07/22/14 Reuters

Road - highway interchangeSouth Korean automaker Kia Motors Corp is in talks with Mexico to open a new, $1.5 billion auto plant, officials of the northern state of Nuevo Leon 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 Kia, an affiliate of Hyundai Motor Co.

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Mexico City’s ‘Barrio Bravo’ refuses to be conquered

July 22, 2014

07/21/14 LA Times

Policia MexicoAlfonso Hernandez stands before a mural of Jesus Christ being ferried on a lion-drawn carriage, trailed by Catholic bishops and priests. Behind them, scores of men in crisp suits — some smiling, some somber, one in dark shades — kneel as they watch the procession.

They are among the dead of Tepito.

“It’s called the mural of the absent. They’re people from here,” said Hernandez, a native of the famously tough — and famously untamable — Mexico City neighborhood. “These are people who died because of the drug wars. This is to remember them here and not just in the crime blotter of the newspapers.”

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Mexico economy could pick up in second half of 2014 – central bank’s Sanchez

July 22, 2014

07/21/14 Reuters UK

faucet gold coinMexico’s economy likely picked up speed in the second quarter, helped by signs of improving domestic consumption, and growth could be stronger in the second half of the year, a Central Bank deputy governor said on Monday.

Manuel Sanchez, one of five governors on the Bank of Mexico’s board, told Reuters in an interview that the economy appeared to have grown slightly more than expected in the second quarter.

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