Trade & Investment

Trade & Investment

Pemex eyes 10 percent stake in Repsol

Reuters - Mexican state-owned oil major Pemex is seeking to join forces with billionaire Carlos Slim to buy a 10 percent stake in Spanish oil group Repsol to add to the 9.3 percent it already holds, ABC newspaper reported on Tuesday citing unnamed sources.

Sigma targets Spanish meats group Campofrio

Reuters - Mexican frozen food company Sigma Alimentos has launched a 695 million euro ($932 million) takeover bid for Spanish meat processor Campofrio at a price analysts said could tempt its leading shareholder to sell.

Banco Sabadell plans to open banks in Mexico

El Economista - Spanish bank Banco Sabadell plans to open its own bank in Mexico as part of an internationalization strategy in Latin America, reported the Spanish newspaper Expansion.

2013 growth forecast cut by half due to export lag

Bloomberg - Mexican policymakers cut their growth forecast for this year in half after stagnant exports and a flagging construction industry led them to reduce interest rates by the most since the 2009 recession.

America Movil invests in Israel's Mobli

Reuters - Mobli, a mobile photo and video sharing platform, said Latin America's biggest phone company America Movil has made a strategic investment in the company as part of a $60 million funding round.

Mexico, Venezuela to begin trade talks in 2014

EFE - Mexican Foreign Secretary Jose Antonio Meade and Venezuelan counterpart Elias Jaua have agreed to begin conversations leading to the signing of a trade accord, Mexico's government said.

Avocados from Mexico kicks off campaign

The Packer - Avocados From Mexico is centering its new $36 million marketing campaign around the idea that avocados offer so much more. The effort’s overall goal is to make avocados sought-after and elevate the overall category.

Maquiladora industry cries foul on new taxes

AP — Industry groups say President Enrique Pena Nieto's proposed tax overhaul, expected to pass the Senate late Tuesday or early Wednesday, could strangle one of Mexico's economic success stories, the border factories known as maquiladoras.

Petco opens first store in Guadalajara

UT San Diego - Petco celebrated the opening of its first international store in Mexico. The chain entered a joint venture with Grupo Gigante to open the Mexican store in Guadalajara and plans to open as many as 50 Petco stores in Mexico and Latin America by 2020.

How Mexico is upending the U.S. auto industry

The Washington Post - Back in the 1980s, the U.S. auto industry went through a major upheaval. Now, three decades later, the U.S. auto industry is going through yet another major churn. And this time around, Mexico is the driving force.

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