Mexico weighs taking on Pemex pension liabilities

July 30, 2014
07/30/14 Financial Times
piggy bank with coinsMexico is poised to increase its public debt at a time of sluggish economic growth, as the government considers taking some of Pemex’s giant pensions liabilities on to its own balance sheet.

The move comes amid a sweeping reform of the energy and power sectors that will see the state oil company as well as utility CFE transform into “state productive enterprises” by the end of next year, competing with private investment.

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Event – Freedom of Expression in Mexico: Analyzing the Impact of the Telecom Reform

July 28, 2014

A panel of experts will discuss the telecommunications reform and its implications for freedom of expression, as well as the ongoing debate about the reform’s secondary legislation

RSVP:  http://bit.ly/1rwAf6E

Flyer Mexico Telecom-logo

 

 


Mexico tenders for high-speed train linking capital and Queretaro

July 28, 2014

07/27/14 Reuters

Mexico on Sunday announced the opening of an international tender to build a high-speed passenger train linking Mexico City and the industrial city of Queretaro.

The project, which was previously estimated to cost about $3.3 billion, would allow travel over the 210 kilometers (130 miles) between the Mexican capital and Queretaro at up to 300 kph, moving 23,000 passengers a day, Mexico’s transport ministry said in a statement.

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Mexico’s Femsa Turns to Pricing, Cost Controls to Counter Soda Tax

July 25, 2014

07/25/14 The Wall Street Journal

Coca Cola BottlesMexican beverage and convenience store conglomerate Fomento Económico Mexicano SAB  increased its operating profit during the second quarter despite a weak Mexican economy and new taxes aimed at trimming waistlines.

Femsa, which owns Latin America’s biggest bottler of Coca-Cola Co. products as well as the Oxxo convenience-store chain, said Friday that pricing and packaging strategies, together with efforts to contain costs and boost efficiencies, helped drive revenue growth in the period.

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Mexico factory exports fall in June, marks largest drop this year

July 25, 2014

07/25/14 Reuters

manufacutiringMexican factory exports fell in June by the most since last December, casting doubt on the strength of an economic recovery in Latin America’s No. 2 economy.

Factory exports dropped 1.4 percent in June from May, the national statistics agency said on Friday, after posting gains in the previous four months.

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Mexico’s Formula One dream is back on track

July 24, 2014

07/24/14 Financial Times

7972108374_b65a75f8e2_qAfter a false start this year, it’s time to rev those engines: Mexico’s dreams to return to Formula One are finally back on track.

The government has announced a five-year 2015-19 deal to host the race, marking Mexico’s return to the circuit after an absence of 23 years.

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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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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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Will Morelia Become Mexico’s Next Outsourcing Hub?

July 22, 2014

07/22/14 Forbes

Morelia, Michoacan is known for its colonial buildings. At night, bright lights highlight the elaborate spires of the massive cathedral in the city’s historical center. Well dressed diners crowd the tables on the sidewalks in front of the restaurants in the ground floor of the ornate buildings across the street and from the early evening onward young people gather to socialize and watch street performers in the plaza next to the church. Morelia preserves its history, but in recent years the city has also proved capable of drawing investment into new sectors such as information technology (IT) and business process outsourcing (BPO).

David Jáuregui Mendoza, the chairman of Morelia’s IT industry group ClusterTIM, told me, “We’ve already finished the first phase of establishing the industry. Now we’re working on growing the IT sector.”

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