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 Business News
Wal-Mart Budgets Almost a Billion for Mexico this Year
 Agencia EFE S.A.
Retailing giant Wal-Mart plans to invest $981 million in Mexico this year in an expansion drive that envisions 125 new stores and the opening of at least 10 bank branches, the chain's first of their kind in the world.
Beware the Pitfalls of Office Romance
 Tom Hals
With Valentine's Day looming, experts warn that many employers are caught by surprise by the ripple effects of intra-office relationships, which can demoralize staff and spread envy and resentment.
Mexican Manufacturers Face Uncertain Future
 Diane Lindquist
Mexico's maquiladoras have recovered from severe losses suffered during Vicente Fox's administration, but industry leaders are worried that new President Felipe Calderon's focus on tourism and other economic sectors will leave them in the global dust.
US Senators Examine Home Foreclosure Surge
 Marcy Gordon
With home foreclosures surging, senators on Wednesday examined lending practices that especially hurt minorities and seniors and can heighten the risk of default. Sen. Christopher Dodd, chairman of the Banking Committee, said the mortgage industry has to take greater responsibility and federal regulators may have to intervene.
As Expected, Mexico's Top-Producing Oil Field to Yield Less in 2007 than 2006: Pemex CEO
 Associated Press
Mexican state-owned oil company Pemex expects its highest-producing oil field to yield 14.5 percent less this year than in 2006, the company's chief executive officer said Wednesday.
'River of Gold' Swells to a Flood
 S. Lynne Walker
In just one year, the amount of money migrants wired their families jumped 15 percent (to $23 billion), according to Mexico's central bank, overtaking tourism to become the nation's second-biggest source of foreign income after oil.
El Financiero Launches Chinese Edition
 Cyntia Barrera Diaz
A Mexican financial newspaper has launched a Mandarin Chinese version of its online edition in a bid to meet demand for local news from a growing Chinese community doing business here.
Related Group Plans $1 Billion Push Into Mexico Real Estate
 Thomas Black
The Related Group Inc., a closely held builder of luxury condominiums based in Miami, plans to invest more than $1 billion in Mexican real estate to tap into U.S. demand for second homes on the beach.
Viva Aerobus Aims to Start U.S. Flights by August
 Lori Ranson
New Mexican low-cost carrier Viva Aerobus has started the process to gain FAA's approval to launch flights to the U.S., in hopes of starting the service in July or August.
Small Business - Big Heart
 PVNN
Puerto Vallarta business owners Charlie Wood and Jim Morrison of Casas del Mar PV Property Services recently announced that they'll be donating $20 from each home inspection they perform in 2007 to the kids at Refugio Infantil Santa Esperanza A.C.
Is Oil-Rich Mexico Spending Too Much?
 Marla Dickerson
Lofty oil prices have showered Mexico's treasury with a tax windfall in recent years. But the country saves little of its petroleum riches and spends lavishly on vanity projects, and analysts fear a day of reckoning as crude output falls.
The Tortilla Indicator
 Laurence Iliff
As President Felipe Calderón marched across the nation unveiling social programs and touting the military-led crackdown against drug lords, a round shadow followed him, darkening his sunny message.
Ask the Expert: Chávez and Venezuela
 Richard Lapper
Hugo Chávez won a landslide election victory in December and has started his new term in office with a series of radical policy measures to bring what he calls 21st Century Socialism to Venezuela.
Peso Wars at the Pizza Counter
 Philip Sherwell & Jacqui Goddard
To the founder of the Pizza Patron empire spread across the south-west of the United States, allowing customers to pay with Mexican pesos instead of dollars seemed sound business sense. But to some Americans, the "Pizzas for Pesos" promotion is further evidence that the country's identity is being overwhelmed by immigrants from Latin America.
Mexico 7-Elevens on the Rise
 Marla Dickerson
Slurpee and Big Gulp are not yet household words in Mexico. Still, convenience stores are expanding at a clip that would make Homer Simpson smile. More than 7,600 chain outlets dot the country.
US Economic War Costs Cuba 86 Billion Dollars
 Alfredo Boada
US President John F. Kennedy, penned on February 3, 1962 presidential decree 3447, making the blockade on Cuba official, in an economic war already costing the island 86 billion dollars.
Official Says NAFTA Helped Both Nations
 S. Lynne Walker
U.S. Commerce Secretary Carlos Gutierrez yesterday urged the Mexican government to expand trade with the United States, saying the North American Free Trade Agreement has helped grow the economies in both countries.
Mexican Economy To Grow in First Quarter of 2007
 Xinhua
The Mexican Financial Department on Wednesday estimated that Mexico's economy is expected to grow by 3 percent over last year in the first quarter of 2007 after a record high growth in 2006.
A Record Year for Remittances
 Dianne Solís & Laurence Iliff
The amount of money that Mexican immigrants sent back to their homeland hit a record $23 billion in 2006 – suggesting a greater number of workers are sending more money home.
Mexico Doesn't have an Inflation Problem, Ortiz Says
 Patrick Harrington & Adriana Arai
Mexico's 12-month inflation rate has been above the top end of the central bank's 2 percent to 4 percent target range since September because of rising prices for tortillas and sugar. Inflation, excluding these food items, has been steady, the Bank of Mexico said today in its quarterly inflation report.
U.S., Mexico Advised to Coordinate Upgrades
 Jenalia Moreno
The United States and Mexico should coordinate the construction of roads, bridges and other transportation links to handle increased trade between the two nations, a Mexican international business consultant said Tuesday.
Buy Mexico Now
 Robert Aronen
Many folks refuse to invest in Mexico because they fear crime and corruption will destroy their portfolio. Focus only on the negative, and you could miss out on many potential rewards.
Calderon Faults Move to Socialism
 Juan Pablo Spinetto & Patrick Harrington
Mexican President Felipe Calderon used the global audience provided by the World Economic Forum in Davos, Switzerland, to warn that Latin America is splitting into two economic camps, one embracing a failed past of state control, the other seeking growth with foreign investment.
Blair Praises Mexican Economic Model
 El Universal
Following a visit with British Prime Minister Tony Blair, who praised Mexico´s economic strategy, President Felipe Calderón arrived in Spain on Monday for a two-day visit expected to focus on increased economic and political cooperation between the two countries.
Soaring Prices for Tortillas Vex Mexico
 Washington Post
Mexico is in the grip of the worst tortilla crisis in its modern history. Dramatically rising international corn prices, spurred by demand for the grain-based fuel ethanol, have led to expensive tortillas.
Calderón: Economic Plans Divide Region
 El Universal
President Felipe Calderón warned that Latin America is splitting into two economic camps, one embracing greater state control of industry, the other seeking growth with foreign investment.
Mexican Retailer Soriana Eyes Banking Business
 Gabriela Lopez
Mexican retailer Soriana said on Friday it was evaluating how to enter the banking business, an up-and-coming battleground for store operators fighting for millions of low-income customers.
Mexico Cenbank Holds Rates Steady, Warns of Hike
 Reuters
Mexico's central bank held its benchmark overnight interest rate steady at 7 percent as expected on Friday but said it would adjust rates if necessary after a recent spike in food prices.
Banks Exceed $1 Billion in Deposits in the Southwest Texas Region
 Joe Hyde
Area bankers say the growth of banking deposits in southwest Texas is a result of various factors, including: The rapid increase in the value of real estate (especially ranch land), an oil and gas boom in the northern counties, and most of all, deposits from Mexican nationals seeking a safe harbor for their cash during a turbulent election year in Mexico.
Your MasterCard or Your Life
 Bob Herbert
Americans are increasingly living in a house of cards - credit cards. A disturbing new report shows that with health care costs continuing their sharp rise, low- and middle-income patients are reaching for their credit cards with alarming frequency to cover treatment that they otherwise would be unable to afford.
US Chief Executives Urge Bush to Tackle Global Warming
 Justin Cole
Some of corporate America's largest companies, including Alcoa, General Electric and DuPont, urged US President George W. Bush and Congress to act swiftly to tackle global warming.
Pemex Oil Output Slumps to Six-Year Low
 El Universal
Crude oil production at state oil monopoly Petróleos Mexicanos, or Pemex, fell 6 percent to 2.98 million barrels a day in December from 3.16 million barrels daily in November, the company reported Monday.
Doing Business on the U.S.-Mexico Border
 Arizona Board of Regents
Although political storms rage on both sides of the U.S.-Mexico border, everyday business goes on and will continue, albeit at a slightly subdued pace, according to experts at the W. P. Carey School of Business.
Mexico in Tourism Activity Restoration
 Prensa Latina
Despite a complex national panorama, Mexico had an income of 10.81 billion dollars from tourism in 2006, 100 million more than in 2005, said authorities of the Mexican Tourism Secretary Office (Ministry).
Discover How to Invest In Luxury Mexican Beachfront Condos with IRA
 Bestonline
Most people, are unaware you can use your IRA funds to invest in any legitimate business, including foreign or off-shore real estate. The truth is that foreign real estate investment is no more risky than any other form of investment provided you know what to look for and what to avoid.
Mexico Leader Welcomes Foreign Investors
 E. Eduardo Castillo
President Felipe Calderon said Mexico will intensify efforts to attract foreign capital — especially from investors who may flee other Latin American countries that have announced the nationalization of key industries.
Mexico Signs Deal to Hem Tortilla Costs
 Ioan Grillo
President Felipe Calderon signed an accord with businesses on Thursday to curb soaring tortilla prices and protect Mexico's poor from speculative sellers and a surge in the cost of corn driven by the U.S. ethanol industry.
An Anti-Mexican Response to Smart Business Decision
 The Valley Morning Star
Reasonable people can disagree on policy issues without vilifying one another. That is the basis of the civil discourse upon which a representative democracy relies. It's a clear sign that civil discourse has broken down somewhat when a business receives death threats and hate mail for making the business decision of accepting a foreign currency.
Construction Spurs Strong Output Growth In November
 El Universal
Mexico´s industrial production rose more than expected in November, buoyed by a surge in building and construction. Industrial output increased 4.8 percent in November from a year earlier after growing a revised 4.5 percent in October and 5.1 percent in September.
Mexico Predicts Drop in Tortilla Prices
 E. Eduardo Castillo
Mexico's economy secretary said he was confident tortilla prices, which have skyrocketed over the past year because of high international demand for corn, will stabilize in less than a month.
Mexican President Launches Jobs Program
 Ioan Grillo
The program will give cash incentives to companies for hiring first-time job holders. Calderon, who took office in December, campaigned on promises to boost employment opportunities in Mexico, vowing to be the "Jobs President."
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