trade-featured
Slim buys $44 million mansion in New York City
La Jornada - Mexican entrepreneur Carlos Slim, recently identified by Forbes as the richest businessman in the world, purchased a $44 million mansion on New York City's famous Fifth Avenue. The property is the 11th that Slim has purchased in the city.
Singapore Temasek joins venture with IMDI
Reuters - Singapore state investor Temasek Holdings has agreed to enter a joint venture with Impulsora Mexicana de Desarrollos Inmobiliarios to seek investment opportunities in Mexico's real estate sector. The two partners will commit $200 million to the joint venture.
Exports increase 8.8 percent in June
Sentido Comun - Exports registered a 28.8 percent increase in June compared to the same month last year, the eighth consecutive increase, although June's rate was lower than in the last five months. Exports totalled $24.99 billion, with manufacturing leading the way.
Kansas City Southern to reopen service to border
Sentido Comun - Kansas City Southern de Mexico (KCSM) said that it will resume service to Nuevo Laredo this weekend after having to interrupt it because of the heavy damage caused by rains from Hurricane Alex. Ferrocarril Mexicano said two days ago that its rail services to border crossings were open.
Cargo at Mexico's seaports increases substantially
Sentido Comun - The amount of cargo processed through Mexico's ports rose 25.1 percent in the first half of the year. Containerized cargo recorded an increase of 32 percent. The Port of Manzanillo handled the most cargo, followed by Lazaro Cardenas and Altamira.
Nextel pledges $1.47 billion investment with win
Dow Jones - The Mexican arm of Latin American wireless carrier NII Holdings, Nextel, said Monday that it plans to invest at least 18.9 billion pesos ($1.47 billion) in its operations if it wins wireless spectrum in Mexico's ongoing government auction. Nextel Mexico said it was "worried" that the auction might be blocked, without going into further detail.
Indigo Partners is new co-owner of Volaris
El Semanario - Indigo Partners, the Arizona-based investment firm run by former America West Airlines head William Franke and Oaktree Capital Management of California, is the new part-owner of Mexican low-cost airline Volaris after Televisa and Inbursa shed their shares in the company.
Governors' meeting finds new home in New Mexico
Wall Street Journal - New Mexico Gov. Bill Richardson said Thursday he agreed to host a gathering of leaders from the United States and Mexico after their yearly border conference was canceled by the Arizona governor amid threats of a boycott by Mexican politicians. The governors of Texas and Arizona said they wouldn't attend — another sign of growing discord over immigration policies on both sides of the border.
online.wsj.com/article/SB10001424052748703722804575369663372663090.html
Key border highway is partly reopened
Houston Chronicle - Officials have reopened one of Mexico's most import border highway connections to trucks and buses six days after it was closed by flooding in the Rio Grande basin. Cars are not yet allowed because of standing water on some stretches that is still about two feet deep.
Storm damage delays shipments of 2011 Ford Fiestas
USAToday - Shipments of the 2011 Ford Fiesta subcompact car to U.S. dealerships are being delayed by 10 days to 2 weeks because of storm-damaged rail lines in Mexico, Automotive News reports. The car is just starting to roll out at U.S. dealerships.
