Economy & Finance
57% of Mexican execs predict recovery in 2011
El Semanario - - Fifty-seven percent of senior company executives in Mexico don't expect the economy to recover from 2009's severe recession until 2011, despite current signs of a recovery in the country.
Annual inflation rises to 4.83 percent
CNNMéxico - Mexico's consumer prices rose 0.58 percent in February, higher than was expected, because of a rebound in prices of some vegetables and services, the Bank of Mexico said Tuesday. Core inflation rose was 0.4 percent, more in line with expectations, according to the bank.
www.cnnexpansion.com/economia/2010/03/09/la-inflacion-anual-sube-a-483
International reserves rise to record level
Sentido Comun - International reserves last week reached a new record of $94.54 billion after rising by $76 million over the previous week, the Bank of Mexico said Tuesday in a press release.
AMB property fund to target Mexico's afores
Reuters - San Francisco-based AMB Property Corp., which invests in distribution hubs, expects to soon offer a new commercial real state fund in Mexico that aims to draw investment from the nation's 14 private pension funds, which control $85 billion.
Infonavit housing starts up 44 percent
Dow Jones - Mexico's largest home lender, federal housing fund Infonavit, said Monday that new housing starts rose 44 percent during the first two months of 2010 as the housing industry recovers from last year's slump. New housing starts rose to 69,164 units.
Mexico textile industry slips during 2009
Dow Jones - Mexico's textile and apparel exports to the U.S. fell by 16 percent in 2009 to $4.14 billion compared with the previous year, the National Textile Industry Chamber said. The figures, based on U.S. government statistics, put Mexico far behind leading exporter China, and trailing Vietnam and India.
Morgan Stanley raises Mexico forecast to 5.2%
Dow Jones - Optimism for the Mexican economy this year is mounting at a fast clip as key data points to a stable recovery, Morgan Stanley said Monday upgrading their growth forecast for the country to 5.2 percent from 3.8 percent. The move puts Mexico in the running to be the fastest growing of the seven largest Latin American regional economies.
Christian Noyer replaces Ortiz at BIS
El Semanario - The Bank for International Settlements (BIS) has appointed Christian Noyer, governor of the central bank of France, as the new president to replace Guillermo Ortiz, who was forced to resign after being replaced as the governor of the Bank of Mexico.
Cellphone growth slows to 6.6% in 2009
El Economista - The growth of mobile telephony slowed to 6.6 percent in 2009, a significant reduction from the annual rates of 22.2 percent and 16.9 percent recorded during 2007 and 2008, respectively.
eleconomista.com.mx/industrias/2010/03/05/telefonia-movil-mexico-cae-durante-2009
Archaeological site to open near Huatulco
CNNExpansion.com - Mexico this year plans to open an archaeological site just steps from Huatulco on the Pacific coast in hopes of recovering from the large drop in tourists last year. Bocana Copalita was inhabited by up to 10,000 people from groups that arrived from the Gulf of Mexico about 500 B.C.
www.cnnexpansion.com/viajes/2010/03/02/arqueologia-y-lujo-para-atraer-turismo
