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.
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
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.
07/25/14 The Wall Street Journal
Mexican 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.
Mexican 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.
07/24/14 Financial Times
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.
America 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.
Mexican 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.
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.
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.”