January 2010

Chavez says Venezuela will seize Monaca

El Semanario - Venezuelan President Hugo Chavez has warned the country will take control of National Mills, known as Monaca, a subsidiary of Gruma Venezuela, as the banker Ricardo Fernandez Barrueco, a minority shareholder in Monaca, was arrested for allegedly making illegal transactions.


Pemex to introduce new bidding procedures

El Semanario - As of the first quarter, the Energy Secretariat (Sener) will launch a new auction system for Petroleos Mexicanos (Pemex), said Georgina Kessel, head of the agency, in an official announcement at the World Economic Forum in Davos, Switzerland.


Bank portfolios fall 5.8 percent in December

El Semanario - The total balance of the current portfolio of commercial banks amounted to 1.61 billion pesos ($122.94 million) in December 2009, representing a fall of 5.8 percent compared to the same month last year. Once again the consumer credit portfolio was the weakest segment, falling 19.1 percent in December.


Nissan investing in Mexicali to make design prototypes

CNNExpansion.com - Nissan Design America (NDA) will invest $10 million in a new center to design automotive prototypes in Mexicali. The investment, consisting of facilities, equipment and personnel, will serve the global design operations of Nissan.


Electricity spikes highest in three years, says CONCAMIN

El Economista - As of Monday, electricity prices for medium and high voltage will have a monthly increase of 18.3 percent, which is in addition to a 7 percent price increase in January, together the largest rate increase in the last three years, said James Williams, president of CONCAMIN's energy commission.

Mexico's gross domestic product falls 6.8% in 2009

El Economista - During the fourth quarter of 2009, the Mexican economy fell 3 percent, contributing to a decrease of 6.8 percent in the gross domestic product (GDP) for the full year, the Finance Ministry reported on Friday.


Cabanas treatment today might reduce sedatives

CNNExpansion.com - This Saturday will be an important day to see if there will be a change in the health status of wounded soccer player Salvador Cabañas as his physician intends to take a CT scan and possibly reduce the level of sedation to see how Cabanas responds.


Mexican airlines launch variety of promotions

El Financiero - After a decrease of 13 to 15 percent in the airline industry in 2009 because of influenza and the global economic downturn, Mexican airlines are launching a variety of promotions ranging from discounts to deferred payments to attract passengers.


Calderon says reforms are modernizing Pemex

El Financiero - Mexican President Felipe Calderón, speaking at the World Economic Forum, said the country's oil sector is being modernization through reforms that allow Pemex to contract more competititive services with better costs and new technology that will increase investment and efficiency.


Electricians set up permanent encampment in Zocalo

El Financiero - Martin Esparza, former leader of the Mexican Electricians Union, announced that electrical workers will stay in  permanent encampment on the esplanade of the capital's main square to protest the dissolution of the utility Luz y Fuerza del Centro.