Trade & Investment
Sentido Comun - A consortium led by Korea Electric Power won a contract valued at $420 million to build a 433 megawatt, natural gas-fired power plant in northern Mexico. State-owned Korea Electric's partners are Samsung C & T and the Mexican unit of Techint Group.
Milenio.com - Three members allegedly connected with the Pacific Cartel are being charged with kidnapping four journalists in Torreon, Coahuila, on July 26. Their motive is said to be to discourage news reports on exposing corruption among local public officials.
San Diego Union-Tribune - A plan for a cross-border pedestrian bridge connecting a terminal in San Diego to Tijuana’s airport received a critical U.S. government permit Wednesday, more than a decade after it was initially proposed. The estimated $78 million, privately built and operated project would be the first of its kind along the U.S.-Mexico border.
Dow Jones - -The Mexican Institute of Finance Executives, or IMEF, said Tuesday that its manufacturing index declined for a third consecutive month in July, suggesting that factory activity could slow in the months ahead.
Dow Jones - U.S. automobile giant General Motors Co. said Tuesday it plans to invest close to $500 million in its Ramos Arizpe plant in northern Mexico to produce a new line of engines as well as a new vehicle, which wasn't named. General Motors has invested $4.1 billion in Mexico over the last four years.
Bloomberg - Real estate investment trust AMB Property Corp. said Monday it formed the AMBMexico Fondo Logistico to develop, own, operate and manage industrial properties.The offering raised $260 million from Mexican institutional investors, predominantly private Mexican pension plans.
El Financiero - At the Expo of Shanghai today, Mexico presented 100 infrastructure projects that will be auctioned this year for investment by private companes. The licitations are expected to attract some $50 billion in foreign investment.
El Financiero - Santiago Gutierrez, the president of the electronics chamber, known as Canieti, predicted at the XV Congress de Alta Tecnologia that investment in electronics, telecommunications and information technologies industry will be $100 billion in 2010.
Unonoticias.com - After the government formalized the creation of a Mexican Space Agency by publishing plans in the Diario Oficial last Friday, Hidalgo's governor, Miguel Angel Osorio Chong, said the state hopes to attract the agency and will offer a development plan.
New York Times - The National Guard, which officials had announced would turn out en masse along the United States-Mexico border over the weekend for sentry duty, was nowhere to be found. It will take weeks longer to select, screen and train the 1,200 National Guard troops the Obama administration had said would be deployed on Aug. 1 along the border from California to Texas.