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 Business News
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Mexico Feels Pinch of US Housing Slump
 Valerie Rota & Alexander Ragir
The U.S. housing slump is squeezing Mexican migrant workers from Los Angeles to New York, where permits for new home construction are down 20 percent this year, according to the U.S. Census Bureau.
US Economy Has Worst Growth Since 2002
 Jeannine Aversa
The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
Vertically Integrated Developers Reshape South Florida
 Nicole Ibarra
Established in 1979, The Related Group has redefined the South Florida landscape. The privately held firm has since built and managed more than 55,000 apartments and condominium residences. It has also appeared twice in the No. 1 spot on the Hispanic Business 500 list.
Bush Nominates Zoellick as World Bank President
 Andrew Buncombe
President George Bush has nominated Robert Zoellick - a former government official with close links to corporate America - to take over as head of the controversy-stricken World Bank.
The Villa Group Appoints Key Personnel in Vallarta
 Dawna Robertson
The Villa Group has announced the appointment of key personnel in Nuevo Vallarta and Puerto Vallarta. In Nuevo Vallarta, Sergio Nuñez has been named Hotel Manager for the company's 245-suite Villa La Estancia Beach Resort & Spa Nuevo Vallarta.
The Richest Man You've Never Heard Of
 Chris Hawley
Carlos Slim is the world's second-richest man and is closing quickly on Bill Gates, according to Forbes magazine's most recent rankings. Slim's business empire stretches from Mexico to the USA, yet most Americans have never heard of him.
Mexico´s Ethanol Plan Meets Resistance
 Alex Manda
Mexico´s plans for a big push to encourage the use of bioethanol in fuel are caught in a wrangle with the state oil monopoly Petróleos Mexicanos (Pemex), according to Osiel Castro de la Rosa, a National Action Party (PAN) deputy from the state of Veracruz.
Cheap Gas Fuels a Mexican Migration
 Marla Dickerson & Elizabeth Douglass
U.S. motorists are flocking to gas pumps south of the border to save 25 percent or more on the cost of a fill-up - courtesy of the Mexican government. Worried about inflation, Mexican officials are keeping a lid on retail prices at the state-owned petroleum company Pemex.
Mexico Takes Cue from Canada
 Marla Dickerson & Carlos Martinez
Building jet airplanes has long been the domain of advanced industrial nations. Now Mexico is trying to join the club by hitching a ride with a Canadian aerospace company.
Investors Flock to Mexico's Rally
 Anthony Harrup
Despite an economic slowdown this year, Mexican stocks are on a roll, continually setting records as investors bet things are likely to pick up.
US Slashes Forecast for Mexican Oil Output
 Robert Campbell
U.S. government forecasters sharply reduced their projection for Mexican oil output in a report released this week after reassessing the willingness of the Mexican government to open up the country's oil sector to foreign investment.
Aid to Mexico, Not Amnesty in America
 Allan Wall
Economic growth in Mexico is in just about everybody's interests. It would benefit Mexico and its people, the Mexican political system, and the United States as well.
Ortiz Says Mexican Inflation Expectations `Anchored'
 Thomas Black
Mexican central bank Governor Guillermo Ortiz said the narrow gap between short-term and long- term interest rates indicates investors are confident inflation will stay under control. The yield on a 30-year peso-denominated government bond is 7.65 percent, compared with 7.62 percent for a three-year maturity.
Cuba Exposes US Trade Tricks to WTO
 Prensa Latina
Cuba exposed US open schemes to perpetuate illegal unilateral measures harming Cuban free trade and development, as well as the US business community. A member of the Cuban Permanent Mission to the UN denounced before the WTO arbitrator that Washington repeats the same speech every month.
We're # 1!: A Nation of Firsts Arms the World
 Frida Berrigan
They don't call us the sole superpower for nothing. Paul Wolfowitz might be looking for a new job right now, but the term he used to describe the pervasiveness of U.S. might back when he was a mere deputy secretary of defense - hyperpower - still fits the bill.
Distributors Ensure Top US Goods Get to Cuba
 Associated Press
The golden arches are nowhere to be found. There's not a single Starbucks or Wal-Mart, and no way to buy a Budweiser, a Corvette or a Dell. But even in Cuba, you can get a Coke.
Oxfam Calls for End to US Control Over Appointment of World Bank President
 Graeme Wearden
Mr Wolfowitz's departure, which also sparked further criticism from staffers and speculation that Tony Blair could replace him, is a rare opportunity to make changes at the Bank, the development agency argued.
Slim’s Pickings: $53BN and Counting
 lebaneselobby.org
Bill Gates once said that nothing good came from being the richest man in the world. The money was fine, but the attention was awful. Luckily for him, he could soon lose his title to Carlos Slim Helu, 67, a jowly, implacable Mexican businessman ripped from the pages of a Latin American novel.
Mexico Remittance Growth to Slow in 2007 - Cenbank
 Reuters
The flow of remittances from Mexicans living abroad will grow as little as 5 percent this year due to tougher migration controls and an economic slowdown in the United States, a top central bank official said.
Mexico Tourism Produces Attractive Results
 travelcounsellors.co.uk
Mexico's tourist board has announced that revenue from international tourism has reached a spectacular $3.758 billion for the first quarter of 2007 - an increase of 14.6 per cent compared to the same time last year.
Wolfowitz Resigns From World Bank
 Peter S. Goodman
World Bank President Paul D. Wolfowitz resigned this afternoon, effective June 30, giving in to overwhelming pressure from bank staff and governments around the globe that he depart to end the ethics controversy that has consumed the institution.
Carlos Slim Moves From Telecommunications Into Real Estate
 Adriana Arai
When Carmen Moreno jogs by the Nezahualcoyotl open-air garbage dump in the working-class outskirts of Mexico City, she wears a surgical mask to block the stench. But that is where Carlos Slim, who rivals Warren Buffett as the world's second-richest man, smells money.
Industry Growth Nearly Stagnant
 El Universal
Industrial production rose less than expected in March as construction slowed and the country produced fewer automobiles for export. Industrial output grew 0.2 percent from a year ago, a government report showed.
Mexico Tourism Results Show Significant Growth
 Theodore Koumelis
Mexico`s international tourism arrivals and revenues were up in the first quarter of this year, demonstrating the continued growth of one of the country`s most important economic sectors.
Mexican Resilience Increasing
 Stephen S. Poloz
Mexico has come a long way since the so-called Tequila crisis of 1994. Nowadays, Mexico gets caught up in global volatility just like everyone else, but is on the resilient end of the spectrum.
Grupo Sur - Working Together for Puerto Vallarta
 Adriana Romero
A group of South Side Vallarta business owners and managers are working together with municipal authorities to promote and protect the southern areas of Puerto Vallarta - from Basilio Badillo to Las Juntas de los Veranos.
Top Six LatAm Economies Slip
 El Universal
Latin America´s six leading economies all lost ground in global competitiveness last year, Swiss business school IMD said in the latest edition of its annual survey.
Slowing Economy Casts Shadow Over Mexican Wal-Mart
 Cyntia Barrera Diaz & Gabriela Lopez
Mexico's slowing economy has started to take its toll on Wal-Mart de Mexico as sales of the country's leading retailer shrink despite rising traffic at its stores and new marketing campaigns to encourage shopping.
World Bank Board Majority Want Wolfowitz to Resign
 Lesley Wroughton
A majority of countries on the World Bank board believe Paul Wolfowitz should resign as President of the World Bank, bank board sources from rich and developing nations said on Friday.
Grupo Mayan Allies with Wyndham Hotel Group
 hotelmotel.com
Wyndham Hotel Group, a member of the Wyndham Worldwide family of hospitality companies, and Grupo Mayan of Mexico today announced that four Grand Mayan and five Mayan Palace resorts in Mexico will become allied with the Wyndham Hotels and Resorts brand.
Citigroup Offers No-Downpayment Mortgages in Mexico
 Noel Randewich
Citigroup's Mexican bank, which is in the midst of a credit boom, said on Tuesday it will offer no-downpayment mortgages to attract low-income clients. Banamex, Citigroup's bank in Mexico, said it reached a deal to have Genworth Financial Inc. insure the higher-risk mortgages.
US Says Mexico Truck Program on Track
 Lisa J. Adams
A pilot program to allow Mexican trucks into all areas of the United States should be in place by July, a top U.S. trade official said Tuesday. Access to the U.S. by Mexican trucks has been delayed for years by safety and environmental concerns and resistance from U.S. truckers.
Investors Bet on Fed, Pushing Peso Up
 Bloomberg News
Mexico's currency rose to its strongest since January amid expectations the U.S. Federal Reserve will keep borrowing costs steady when policymakers meet this week, preserving the attractiveness of riskier peso assets.
Just How Low Can the US Dollar Go?
 Bo Nielsen
Anyone who says the US dollar is weak after it fetched a record-low $US1.3681 against the euro and the fewest pence against the pound in 25 years is expressing a euphemism.
Big Three Stumble South of Border
 Marla Dickerson
In 2006, Japanese companies, including Honda Motor Co., Toyota Motor Corp. and Nissan Motor Co., together grabbed a record 32 percent of the Mexican market. That's up 9 percentage points since 2000, according to the Mexican Automotive Industry Association.
Mexican Businessmen Urging Investment
 Maria Leon
Mexican entrepreneurs are urging their compatriots in Arizona to invest wealth acquired in the United States in projects to boost the economy of their homeland.
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