Trade & Investment

Trade & Investment

Economy expands by 7.6% in second quarter

El Financiero - Mexico's economy grew more than estimated in the second quarter, in line with most forecasts. The National Institute of Statistics and Geography (INEGI) reported that gross domestic product (GDP) expanded 7.6 percent in the second quarter on an annual rate.

Six investors are interested in Mexicana -- Why?

CNNExpansió - For those wondering why six investors might be interested in stepping in with significant amounts of money to rescue Mexicana Airlines, analysts say the company still holds assets of significant value that it has accumulated in more than 80 years of operation.

Bimbo opens plant in Minas Gerais, Brazil

Sentido Comun - Bimbo do Brasil, a subsidiary of Grupo Bimbo, opened its first plant in Minas Gerais, Brazil. The new factory, which will be the seventh Bimbo factory in Brazil, will produce breads, buns and similar products.

Ryerson is opening distribution center in Monterrey

Sentido Comun - Ryerson, a metal distributor and processor based in the United States, opened a service center in Monterrey to meet the growing demand for its products in the Mexican market. The plant is expected to start operations on Aug. 30.

Mexico might rotate goods on punitive tariff list

Bloomberg - Mexico might rotate punitive tariffs on U.S. goods from one set of products to another until the United States resolves a dispute over access for Mexican trucks. While the number of total products might not change, individual goods could be added or removed from the list of 99 items subject to tariffs.

Tariffs lead to drop in 81% of U.S. imports

Dow Jones - Mexico's decision to impose retaliatory tariffs on a number of U.S. goods in a long-standing cross-border trucking dispute led to a drop in imports for 81 percent of the products involved during the first year, Economy Minister Bruno Ferrari said Thursday.

Agents seize half million in cash headed to Mexico

KRWG News - U.S. Customs and Border Protection officers and U.S. Border Patrol agents performing southbound inspections at the border crossing in downtown El Paso seized $530,170 late Wednesday morning. The money was concealed in a single tire.$530.000

Teamsters issue call to close border, renegotiate Nafta

El Semanario - In separate letters to President Barack Obama and Secretary of State Hillary Clinton, James Hoffa, president of the Teamsters union, called on the United States to close the border indefinitely to Mexican trucks and to renegotiate the North American Free Trade Agreement (Nafta).

Canada nips at Mexico's auto production ranking

Maquila Portal - Even if Mexico has kept its ranking as the tenth largest vehicle producer, Canada is very close behind, with only 71 thousand fewer units, according to data from the Association of International Automobile Manufacturers (AIAM). As a result of the international economic crisis, the number of vehicles manufactured in Mexico dropped 28 percent from 2008 to 2009.

Siemens launches software for hospitals in Mexico

Sentido Comun - The German engineering and technology consortium Siemens launched in Mexico a specialized software to control hospital clinical and administration procedures. The program is called Soaries MedSuite and was developed by the Healthcare division of the company.

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