Trade & Investment
Mexico is wary as California votes on legalizing pot
Washington Post - The marijuana divide between the sister cities of Tijuana and San Diego points to major disparities between the fight against drugs in Mexico and their acceptance in the United States. The debate grows more urgent as California considers legalizing marijuana.
www.washingtonpost.com/wp-dyn/content/article/2010/09/09/AR2010090907120.html
Pemex's 2011 budget is 30% lower than requested
Reuters - The Mexican government proposed on Wednesday a 2011 investment budget of 286.3 billion pesos ($22.2 billion) for state oil monopoly Pemex that was more than 30 percent below what the company had said earlier this year it would need.
IDB give Mexico $1 billion loan to boost growth
Dow Jones - The Mexican Finance Ministry said Wednesday that the Inter-American Development Bank has approved a $1 billion, 20-year loan for Mexico that will used by the administration of President Felipe Calderon to encourage economic recovery.
online.wsj.com/article/BT-CO-20100908-715945.html
Auto production rises by 53 percent in August
Dow Jones - Mexican auto production in August rose 53 percent from the year-ago month to 205,740 vehicles, continuing a rapid recovery from the slump of 2009, according to figures released Wednesday.
Telmex's has invested the most in Mexico -- Slim Domit
Informador.com.mx - In the 20 years that Telmex has operated as a private company, the firm has invested more than $32 billion, an amount more than that invested by any other company in Mexico, said Carlos Slim Domit, chairman of Telmex's Board of Directors.
www.informador.com.mx/economia/2010/231944/6/en-20-anos-telmex-invierte-32-mil-mdd.htm
Kepco wins $230 million power plant contract
Reuters - Korea Electric Power Corp. said it has signed a 25-year contract worth $230 million with the Mexican government to provide electricity. A KEPCO-led consortium will start to build a power plant in January next year that is expected to operate from May 2013.
Alfa completes deal to acquire Bar-S Foods
Dow Jones - Mexican conglomerate Alfa said its processed foods unit Sigma Alimentos completed the acquisition of privately held U.S. meats processor Bar-S Foods Co., and will begin an integration process that involves marketing and supply-chain efficiencies.
Blast rips through oil refinery, kills one
Reuters - An explosion ripped through a major Mexican refinery on Tuesday, killing one worker, injuring two others and pushing gasoline and diesel prices higher on worries state oil monopoly Pemex will have to import more fuel.
www.reuters.com/article/idUSN0723016420100908
MTV, Sony offer first telenovela "Bad Girls"
La Cronica de Hoy - MTV and Sony Pictures have developed their first telenovela, which will begin the airing of its 13 espisodes Sept. 13. The show, "Bad Girls," follows the rebellion of a trio of high society girls dedicated to break the mold in the "perfect life."
Wamex takes share in City Express hotel chain
Sentido Comun - Wamex Capital, a private equity management company, acquired for 134.8 million pesos ($10.41 million) Promotora Hotelera's interest in the City Express hotel chain. The company did not disclose its percentage of ownership in the chain.
www.sentidocomun.com.mx/breves.phtml
