Slim in talks with Spanish firms for bid on $3.5 billion Mexico airport terminal – sources

10/25/16 Business Insider

2564224814_f800dcc9d8_oMEXICO CITY/MADRID (Reuters) – Tycoon Carlos Slim’s construction arm is in talks with his majority-owned construction firm FCC and rival Spanish builder Acciona to jointly bid on a coveted $3.5 billion (2.87 billion pounds) Mexico City airport terminal project, five people familiar with the matter said.

Carso Infraestructura y Construccion, part of Slim’s Grupo Carso, is hashing out a deal to form the consortium, which would include three other Mexican companies – all its partners from a winning bid for one of the airport’s runways, four of the people said in recent days, speaking on condition of anonymity.

The bid for the terminal, hot on the heels of Carso’s runway bid, shows how Slim, Mexico’s wealthiest man, is aggressively moving to boost his construction business as his telecoms arm America Movil is squeezed by increased competition and regulation.

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GM invests millions in Mexico while Trump bashes Ford

10/17/2016 The Detroit News

After more than a year of watching Republican presidential candidate Donald Trump bash Ford Motor Co. for moving jobs to Mexico, General Motors Co. has pushed ahead with its own expansion. It just hasn’t said as much as Ford.

GM is advancing on an $800 million investment for its global small-car lineup that includes a factory retooling in San Luis Potosi state. That plant and another facility in Mexico will also build the all-new Chevy Equinox sport-utility vehicle next year, people familiar with the matter said.

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Standard & Poor’s Lowers Mexico’s Outlook to Negative

08/23/2016 The Wall Street Journal

mexico cityMEXICO CITY—Standard & Poor’s on Tuesday lowered the outlook on Mexico’s sovereign debt rating to negative from stable, becoming the second ratings firm to do so this year on the belief that government finances could deteriorate in the coming years.

S&P affirmed Mexico’s triple-B-plus rating—two notches above the minimum investment grade—but said there was a 1-in-3 chance of a downgrade in the next 24 months. A deterioration of Mexico’s debt or interest burden could raise the vulnerability of public finances to adverse shocks, the firm said in a release.

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Mexico’s Cemex to slash debt faster as profit beats expectations

07/27/2016 Reuters

cemexMexico’s Cemex, one of the world’s largest cement producers, on Wednesday said it aims to cut debt over the next two years more than it previously planned as it reported that its quarterly profit unexpectedly surged by 81 percent.

Shares in Cemex rose more than 4.14 percent to 13.57 pesos by 1:25 p.m. local time.

The company said second-quarter net profit rose to $205 million, almost double analysts’ estimate of $107 million in a Reuters poll, boosted by its Mexico business and exchange rate gains.

Cemex also said it now aims to cut total debt by $3 billion to $3.5 billion in the next two years, up from a previous target of up to $2 billion. It aims to sell assets worth up to $2 billion, up from a previous goal of $1 billion to $1.5 billion.

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Mexico’s Special Economic Zones: White Elephants?

By Viridiana Rios, Global Fellow, Mexico Institute

expert I (2)In June 2016, Mexico enacted a federal law to create Special Economic Zones (SEZ) in four of the poorest regions of the country. The initiative aims to reduce the markedly unequal levels of economic development inside Mexico, with a set of wealthy, internationally connected northern states, and an agricultural south that seems mired in perpetual underdevelopment.

Mexico will create its first Mexican SEZ in the Pacific port of Lázaro Cárdenas, on the border of the states of Michoacán and Guerrero, and the other three will follow at the Isthmus of Tehuantepec (Veracruz and Oaxaca states), Puerto Chiapas (Chiapas), and the Coatzacoalcos Corridor /Ciudad del Carmen (Campeche). The goal is to have at least one “anchor firm” operating in each SEZ by 2018, the last year of the current administration.

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Governor Walker Aims to Strengthen Wisconsin-Mexico Trade

06/13/2016 Office of the Governor Scott Walker

shutterstock_182486318Madison –
Governor Scott Walker joined a Wisconsin delegation of representatives from the Wisconsin Economic Development Corporation (WEDC) and the Department of Agriculture, Trade and Consumer Protection (DATCP) on a business development mission to Mexico.

The purpose of the mission is to strengthen trade and investment ties between Wisconsin and Mexico. Mexico is Wisconsin’s second-largest export destination with the state’s exports to Mexico totaling nearly $3 billion in 2015.

“The overall objectives of this business development mission are two-fold,” said Governor Walker. “We want to attract new investment from Mexico into Wisconsin, while also encouraging Mexican companies with a presence in Wisconsin to maintain or expand their investments in the state.”

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Andres Oppenheimer: Obama’s TPP may reshape world trade

2/6/2016 Miami Herald

The formal signing last week of the world’s biggest trade and investment agreement — the Trans-Pacific Partnership, or TPP — went almost unnoticed in most countries, but it could soon start to change the world’s economic and political maps.

One of the reasons why the 12-country trade agreement’s Thursday signing ceremony in New Zealand drew little world attention was that neither President Barack Obama nor other leaders of participating countries attended the event, and chose to send their trade ministers instead…

…“The TPP does not aim to create divisions within Latin America, although it will accentuate the contrast between TPP member countries’ pursuit of export-oriented growth strategies, and the more closed economic models of countries such as Brazil and Venezuela,” says Christopher Wilson, of the Woodrow Wilson International Center for Scholars’ Mexico Institute.