Mexico Looks to Raise Wages

August 29, 2014

08/28/14 The Wall Street Journal

Pesos by Flickr user AleiexMexico is attracting record levels of foreign investment, boasts a stable economy, and is becoming an export powerhouse in areas like cars and aerospace. But when it comes to one economic measure—its minimum wage—the country lags behind only Haiti in the hemisphere.

Pressure is rising on the federal government to change that.

On Thursday, Mexico City’s leftist Mayor Miguel Ángel Mancera proposed to lift the federal minimum wage to 82.86 pesos a day ($6.33) for 2015, a 23% increase from the current 67 pesos ($5.12) in Mexico City and enough to buy a basic basket of foods.

Read more…


Mexico Debates Boosting Its Low Minimum Wage

August 28, 2014

08/28/14 The Wall Street Journal

peso by Guanatos GwynMexico is attracting record levels of foreign investment, boasts a stable economy and is becoming an export powerhouse in areas like cars and aerospace. But when it comes to one economic measure—its minimum wage—the country lags behind only Haiti in the hemisphere.

That may soon change. On Thursday, Mexico City’s leftist Mayor Miguel Ángel Mancera submitted a bill to Congress seeking to lift the federal minimum wage to 82.86 pesos a day ($6) for 2015, a 23% increase from the current 67 pesos in Mexico City and enough to buy a basic basket of foods.

Read more…


Mexico’s ICA wins $197 mln contract to build tunnel

August 20, 2014

08/19/14 Reuters

construction-workersMexico’s largest construction company, ICA, said on Tuesday it won a 2.566 billion-peso ($197 million) contract to build a tunnel aimed at reducing flood risks in the center of the country.

Read more…


Mexico Seeks Bids for Bullet Train

August 19, 2014

08/15/14 The Wall Street Journal

Photo by Heraldicos

Photo by Heraldicos

The Mexican government on Friday launched a bidding process for the construction of a passenger railway to connect Mexico City with the central city of Querétaro, as it seeks to return interstate rail travel to the country for the first time in decades.

The bullet train, which is expected to require investment in excess of $3 billion and go into operation in late 2017, is one of several passenger railways proposed by the administration of President Enrique Peña Nieto.

Read more…


In Mexico, Street Vendors Trump Retailers in Tough Times

August 19, 2014

08/18/14 Bloomberg

marketAs crowds of people make their way through the twisting aisles of one of Mexico City’s largest street markets on a Sunday morning, customers fight for room to peruse everything from blenders to mobile phones to jeans.

These shoppers are choosing cheaper, tax-free, used or contraband merchandise over visiting shopping malls or department stores like Sears, owned in Mexico by billionaire Carlos Slim’s Grupo Sanborns SAB. (GSANBOB1) Competition from so-called informal vendors is part of the reason Mexico’s retail association reported an increase of only 0.7 percent in same-store sales in July, missing the 1 percent average increase estimate of analysts compiled by Bloomberg.

Read more…


Inside La Nueva Viga in Mexico: the world’s second largest fish market

August 18, 2014

08/18/14 ABC Australia

Photo by Flickr user Worldsurfer

Photo by Flickr user Worldsurfer

It’s the second largest fish market in the world, following Tokyo’s famous Tsukiji Market.

But unlike Japan’s fish market, and others like the Sydney Fish Market, La Nueva Viga is located hundreds of kilometres from the coast.

The market is the largest in Latin America and based in Iztapalapa in Mexico’s capital.

Read more…

 


Kidnappings in Mexico surge to the highest number on record

August 18, 2014

08/15/14 The Washington Post

censorshipThe first time, after the men with police badges had lashed Adriana Carrillo’s wrists and ankles with tape, and she had spent 37 hours in the back of a Nissan, her father tossed the $12,000 ransom in a black satchel over a graffiti-strewn brick wall and brought her nightmare to its conclusion. She took three days off and then went back to work.

“I don’t want to live as a victim,” she said.

Carrillo returned to the cash register of the family store, where she had worked since she was 8 with her parents and six sisters, amid the floor-to-ceiling jumble of marshmallows and mixed nuts and pinwheel pasta and Styrofoam cups. Their business — cash-based, working-class, on the outskirts of Mexico City — happened to put them squarely into the demographic most vulnerable to Mexico’s kidnapping epidemic. And on May 28, 2013, less than two years later, a white sedan pulled up alongside Carrillo’s car as she drove home late from the market. When she saw the guns, she covered her face with her hands.

Read more…


Follow

Get every new post delivered to your Inbox.

Join 10,365 other followers