Trade & Investment
Bloomberg - Mexican President Felipe Calderon announced measures he said will cut red tape in the economy, increasing exports to Europe and Latin America and drawing more foreign investment. The measures will reduce the amount of information exporters must supply to the government and slash the time needed to acquire the certificate of origin.
Maquila Portal - The Mexican company PCZ Construcciones says it has a deal with the Chinese companies CNR and China Railway International, better known as CRI, to build streetcars in Mexico that will serve the Mexican cities of Morelia and Zacatecas with operations starting next year.
Sentido Comun - The Agriculture Ministry said in a statement that coconut producers in the country harvest 30.5 million coconuts annually. The crop has a market value of about 1.2 billion pesos ($95.25 million) and creates about a half million jobs. Guerrero is the largest producer, with 16,000 operations.
Market Watch - Ludwig Enterprises board of directors announced it has reached a definitive agreement with the Consortium, Inc., to license its technology for deployment in Mexico. The new technology will allow the Consortium to deploy a new Mexican digital radio network.
Bloomberg - Mexico will subject additional imports from the U.S. to retaliatory tariffs because of the U.S. government’s failure to restore a program allowing Mexican trucks to operate north of the border, Economy Minister Bruno Ferrari said today, Monday, iwthout specifying what new goods would be affected but said their value is about $2.5 billion.
Bloomberg - Maxcom Telecomunicaciones, Mexico’s fifth-largest phone carrier, is for sale and seeking bids from Spain’s Telefonica and France’s Vivendi, according to two people with knowledge of the situation. The stock had its biggest jump ever on the news.
Sentido Comun - Mexico's industrial production fell 0.4 percent in seasonally adjusted terms in June against May, the first decline in six months. Manufacturing fell 0.1 percent in June compared to May, the mining sector fell 1.2 percent and construction fell 1.4 percent.
Sentido Comun - Air cargo carrier AeroUnión acquired three Airbus aircraft to increase its existing capacity and expand services to Latin America and eventually to North America. The company currently provides air cargo transportation from Mexico City, Guadalajara and Monterrey.
Bloomberg - Struggling Michigan solar panel maker Energy Conversion Devices will eliminate 140 U.S. jobs as it shifts some production from Michigan to Tijuana, Mexico, to save money. Energy Conversion's losses totaled $436 million through the first nine months of its fiscal year.
autoevolution - Saab is making new steps in returning to the market as a “new” brand, with the company’s latest effort being to seek an importer for the Mexican, Brazilian and Argentine markets. The importer will have to cover the import and distribution of Saab vehicles and parts and establish a dealer network.