Trade & Investment

Trade & Investment

Footwear exports grow 60% in first half of year

La Cronica de Hoy - Mexican exports of footwear increased 60 percent over the same period last year and total sales for the year are expected to realize a 40 percent growth from last year. The industry is facing an opening of the domestic market, however.

Calderon proposes steps to combat money laundering

Washington Post - President Felipe Calderon proposed sweeping new measures Thursday to crack down on the cash smuggling and money laundering that allow Mexican cartels to use billions in U.S. drug profits to enrich their criminal organizations. Among actions banned would be buying real estate in cash.

Venezuela finds big drug haul bound for Mexico

Reuters - Venezuelan authorities found four tons of cocaine buried on a ranch on Thursday after stopping a plane presumably on its way from Mexico to pick up the illegal drug haul. Venezuela is a major transit route to Europe and the United States for Colombian-produced cocaine.

Geokinetics celebrates contract with Pemex

Dow Jones - Geokinetics Inc., a provider of seismic processing and services to mining and petroleum companies, received a $110 million survey contract from Mexico's state-owned oil company, Petroleos Mexicanos, or Pemex, for an ocean-bottom cable, transiton zone and land seismic data survey.

New law requires perscriptions for antibotics

KPBS - A new law in Mexico, which took effect Wednesday, means those who buy antibiotics south of the border must have a prescription from a Mexican doctor. Mexican public health officials say up to 60 percent of all the antibiotics Mexican pharmacies sell are to people who self-medicate.

Wells Fargo expands remittances network in Mexico

Market Watch - Wells Fargo & Company has expanded its ExpressSend remittance network in Mexico through an agreement with Houston-based Transnetwork Corp., adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations.

Statoil says Pemex contions are not yet clear

Bloomberg - Statoil' CEO Helge Lund said that the framework conditions were not clear enough for the company to work in Mexico currently. Petroleos Mexicanos is seeking to attract Statoil to help develop reserves and will meet again with the Norwegian oil producer this week.

Herradura tequila sales grow 8 percent

El Financiero - Casa Herradura reported a growth of 8 percent in sales of its Tequila Herradura brand during the last 12 months with the total at nearly 1.5 million bottles. CEO Rany McCann said the company sells various tequilas a year worth $728 million.

Fund for Mexican real estate raises $293 million

Market Watch - Prudential Real Estate Investors announced Wednesday that qualified investors have invested $293.3 million (3.69 billion pesos) in PRUMEX Industrial III, a fund created to invest in industrial real estate throughout Mexico.

Mexico buys drones, might use to seek out pot

Reuters - Mexico has purchased an unspecified number of Israeli-made Hermes 450 unmanned drone aircraft, the government said, which might be used for spotting remote drug fields as officials fight powerful cartels. According to a filing, the government paid $23.25 million for the aircraft.

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