October 2nd, 2017 - Curated over the past week.
Ternium S. A. today announced plans to invest US$ 1. 1 billion to install a new hot rolling mill at its Pesquería industrial center in Nuevo Leon, Northern Mexico. The new state-of-the-art hot rolling mill in Mexico will target the growing industrial and commercial markets, improving customer service and reducing lead-times.
Short-term cancelations are approaching 80% as visitors change their plans to travel to the states affected by the tremor, a trend that will have a negative impact on the December vacation period, the last high season of the year for the industry. The Mexican Federation of Tourism Associations (Fematur) and the Mexican Association of Hotels and Motels (AMHM) described the outlook for the year as “complicated. ”The best-case scenario for industry leaders is that the figures will remain the same as last year, when Mexico welcomed 35 million international travelers who generated revenues of US $19. 7 billion.
Many stores remain fully or partially closed as the city continues to dig out from the devastating quake
And the greater business community is also willing to put additional money on the table to protect its interests, he said. It, along with public authorities, have ponied up $47 million to create a rapid-response program to deal with the negative incidents and reporting. Working together, public and private interests created a multipronged security plan to address issues, reassure tourists and communicate progress to U. S. authorities in hopes of getting the warning lifted.
Steelmaker ArcelorMittal said Thursday it plans to invest $1 billion in Mexico, pursuing its expansion in the country as the government launched the first of its planned special economic zones in southern Mexico.
It’s not uncommon for U. S. companies to plant roots in Mexico, where lower wages and loose regulations have allured manufacturers for years. Last year the Washington Post reported on the tech boom south of the border, with major global companies like IBM, Oracle and Intel setting up shop in Guadalajara, also known as country’s “Digital Creative City. ”
High interest rates in Mexico compared with it’s Northern neighbors and Western Europe make the peso an attractive carry play for dollar and euro-investors, according to an analyst. The Mexican peso has long been a popular go-to for investors interested in gaining exposure to emerging markets. ”It’s super liquid,” said Christian Lawrence, senior FX strategist at Rabobank.
Three of Mexico’s four “Special Economic Zones” (SEZ) are ready to begin developing projects for interested companies. The SEZs are located in southern Mexico, in Puerto Chiapas, Lázaro Cárdenas and Coatzacoalcos, according to Gerardo Gutiérrez Candiani, director of the agency that oversees the projects.
A strategist at Nomura says the costs from Mexico's recent earthquakes could run as high as $4 billion, and has lowered his forecast for 2017 GDP growth.
Mexican registered a wider-than-expected $2. 73 billion trade deficit in August as imports of petroleum and other goods outpaced gains in factory exports.
NAFTA negotiators wonder why wages for Mexican auto workers are flat or worse
The elimination in the U. S. of the use of MTBE as a gasoline oxygenation agent by the EPA was a big factor in the initial turn to ethanol, but the existence of the Iowa Caucuses as the first step in the presidential nomination process every four years has served as a huge enabler of its preservation. Every election cycle, with few exceptions, presidential candidates who wish to become the nominee of their party feel the need to go to Iowa and promise with all their hearts to perpetuate subsidies for corn farmers and EPA mandates for the use of ethanol. Whether or not they know anything about the impacts of the policy at the time they make the promise, this knee-jerk posturing by presidential candidates ensures support by their administrations should they ultimately become president.
The Mexico Tourism Board unveiled a new global campaign, "A World of Its Own," in New York City. The campaign represents the next chapter in Mexico's global tourism positioning and promotion and focuses on the vibrant, multi-faceted experiences that keep visitors coming back to Mexico and its hundreds of destinations, time and again. The "A World of Its Own" positioning highlights the sheer scale and diversity of Mexico's tourism offering and comes at a time when Mexico has climbed from the 15(th) (2012) to the 8(th) most visited country in the world (source:UNWTO), outpacing the global industry average in growth, by several times.
Northern Minerals & Exploration Ltd. (OTC PINK: NMEX) ("Northern" or the "Company") has entered into a Letter of Intent ("LOI") with a private Mexican entity to work together and conduct due diligence for participating in projects in Mexico with an initial emphasis on a property ("Property") in the State of Quintana Roo.
For Antonio Martinez Velazquez, the founder of the online magazine Horizontal, it was immediately obvious that a tool was needed to organize volunteers, debunk myths and highlight real needs and dangers. While Martinez and his colleagues noted that the government had released a map, they decided to embark on a distinct project: They created a map with carefully verified information and kept it continuously updated. Their map would be socially engineered, providing usable, rigorous information that would direct help where it was needed most. They called their effort Verificado19S, as in verified and related to the 19th of September.
Mexico on Wednesday opened the possibility that talks to revamp the NAFTA trade agreement were so complex that they could run into 2018, beyond an end-December deadline designed to avoid Mexico’s presidential election campaign which kicks off in March.
Carnegie Mellon University researchers last week deployed a snake-like robot to search for trapped survivors in an apartment building that collapsed following the earthquake that shook Mexico City on Sept. 19. The multijointed snakebot provided rescue workers with a video feed from two different passes through the rubble, but did not find any survivors, said Matt Travers, systems scientist in CMU's Robotics Institute.
The UNO Minda Group, an India-based Tier 1 global automotive supplier, announced it is expanding its manufacturing capacity with a new US$ 15 million facility in Mexico for horns.
Eva Precision Holdings Ltd. , A Hong Kong-based plastic and metal components manufacturer for a wide range of industries, invests at least US$ 25 million to build a plant in San Luis Potosi to supply parts for the automotive industry in North America.
The New Mexico Department of Cultural Affairs reports that during the last fiscal year, the NHCC campus had 226,793 visitors – up from 189,933 in fiscal year 2016 – making it the most visited state museum for the first time since its inception. When compared with similar institutions in much larger metropolises, the local Hispanic center – which features fine art and sculpture galleries, three theaters, a restaurant, a large plaza for outdoor events and educational and genealogical research components – is drawing much larger crowds.
Before the acquisition of UTi in 2016, DSV's Solutions business in Mexico was non-existent. Today, 11 of the country’s 15 warehouses are multi-user facilities and all of 85% of the turnover is generated by VMI solutions for customers. This unusually high percentage of total Solutions business is linked to the fact that Mexico has a higher share of major manufacturing companies, not least in the high-tech and automotive industries, and these companies use hundreds of suppliers, who cannot justify running a warehouse in close proximity to the end-user. At the same time, just-in-time delivery to factories requires a complex IT set-up and especially well-educated and highly motivated employees – and it would not be profitable to establish these as individual suppliers.
Infrastructure targeting the automotive sector will definitely have considerable advance with the activation of the Automotive Specialized Terminal (TEA), which once completed, will favor an increase in the volume of imported and exported units, thus making the Port of Lazaro Cardenas the ideal logistic platform to serve this type of cargo, as this is the only port in the Pacific with the potential, the necessary space and facilities to transport automotive cargo efficiently.
Imagine paying to be chased, shot at and verbally abused on your holiday? That’s what you’ll get from this tour in Mexico which offers a live simulation of what it’s like to cross the border from Mexico to the United States illegally — at night and under stressful and dangerous conditions. Caminata Nocturna, or the Night Walk, is a three-hour, 12km obstacle course which involves running across rugged land, and through streams and bushes, all while being pursued by “border patrol agents” firing guns with loaded blanks. Sirens and fake drug cartel members also up the adrenaline.
Presidential elections in Mexico next year pose no risk to already-signed oil contracts, the sector’s top regulator said on Friday, despite the current frontrunner’s pledge to review them. To date, some 70 exploration and production contracts have been inked with several dozen foreign and private oil companies, fruit of a 2013 opening of the sector that ended state-owned oil company Pemex’s decades-long monopoly.
A Mexican invention is allowing farmers around the world to grow crops in arid climates. The invention is a biopolymer that retains nutrient-laced water for several months, opening new possibilities for farming in desert regions and other places where rain is scarce.
Mexico is building a hyperloop to travel between Mexico City- Queretaro, Leon, and Guadalajara. The transportation system will be called Mexloop. Mexican studio FR-EE won a contest to design the system, they will work with Hyperloop One on the project.
The magnitude 7. 1 earthquake that shook central Mexico will certainly damage, but not debilitate, the Mexican economy and might even give it a boost next year as reconstruction efforts get in full swing. That’s the view of economists now assessing the impact of this month’s powerful quake, which damaged or destroyed thousands of buildings and left at least 355 people dead.
Johnson Health Tech (JHT), an Asian Firm based out of Taiwan dedicated to producing gym equipment, is planning to open a new production plant in Mexico, almost two years after its first arrival into this Country, where it carried out only sales and distribution operations so far.
It’s necessary to clarify that the purpose of this article is not to politicize, under any circumstances, the tremendous natural catastrophe that was experienced in Mexico last September 19. Nothing will repair the human loss caused by the earthquake, which transcends any political discussion. A single human life in freedom represents an infinite number of possibilities, dreams and projects. The earthquakes that occurred last week clearly represent a tragedy of incalculable dimensions, as many human lives were wiped out.
The Mexican government approved on Thursday the release of roughly $248 million to begin the task of rebuilding after the earthquakes that left 445 people dead. The amount of money already spent responding to the massive temblors of Sept. 7 and Sept. 19 and the major aftershock of Sept. 23 is likely in the area of 2 billion pesos ($110 million), Finance Secretary Jose Antonio Meade told the Televisa network.
On Aug. 22, the U. S. Department of State issued an updated travel warning on Mexico, advising caution in several popular beach destinations, including Cancún, the Riviera Maya and Los Cabos, for the first time. The warning notes that murder, kidnapping, carjacking and robbery have been on the rise as rival gangs battle over territory. Recent shootings in Los Cabos, Cancún and Playa del Carmen indicate those conflicts have surfaced in popular beach destinations, although the statement notes that tourists have not been targets.
An official in Mexico said he is concerned that the United States is trying to “violate” and “reinvent” trade through renegotiations of the North American Free Trade Agreement. Mexico Secretary of Economy Ildefonso Guajardo said the US is trying to make big changes to NAFTA, but that Mexico won’t accept any alterations to the deal that puts the country behind what it has already been achieving.
That’s what Richard Betts saw when he first stepped into the mezcal industry in 2006. An environmental lawyer turned sommelier and liquor company founder, Betts was looking to expand his already successful wine business into tequila. He ended up being drawn instead to its smoky cousin, mezcal, and its epicenter in Oaxaca, Mexico. But as he began to work with various small distilleries in Oaxaca, who prided themselves on long histories of traditional manufacturing, Betts began to build out a list of things he would do differently.
Viewed from above, greater Monterrey, with its corporate headquarters and golf resorts, appears as one city stretching between the mountains that surround it. Closer up, though, it becomes clear that invisible walls enclose Monterrey’s wealthy core, creating a dividing line between its four million residents. For the people within those invisible walls, government is responsive and crime low. Those outside face rising murder rates, corruption and, activists say, police brutality.
The high season of cruise arrivals in Puerto Vallarta officially started, which will continue through May of next year. With the arrival of the cruise ship Island Princess, coming from Los Angeles, California, with a capacity of more than 2,500 passengers spending about $90 USD per person in the city. As the season starts, there is a high expectation that this season will be record setting for tourism providers, merchants, and the population of Puerto Vallarta.
This situation, which is well-known, but of which many prefer not to speak, is the topic of the documentary ‘Entre batallas y derrotas’ (Between battles and defeats), created and directed by Gustavo Cabullo Madrid, who has his Master’s degree in transborder journalism from the University of Texas at El Paso and is a television producer for the Autonomous University of Ciudad Juárez (UACJ for its acronym in Spanish).
The cost of reconstruction following major earthquakes that killed more than 400 people while devastating parts of central and southern Mexico is expected to exceed 38 billion pesos ($2.12 billion), President Enrique Peña Nieto said on Wednesday.
The US is reportedly planning to propose the establishment of “seasonal windows” in exchange for agricultural goods from Mexico and Canada. The proposal would be a form of managed trade, establishing seasonal restrictions on imports in North America. Mexico’s negotiators have reportedly gotten word of the planned suggestion with a resoundingly negative response.
MIT team’s online platform links those who need aid with those who can help.
IN THE midst of panic over deadly tampered alcohol, tourists in Mexico have a new worry — about what’s lurking in their soft drink.
Jarre and Juanpa Zurita, German Garmendia, the actor Ben Stiller, and others are looking to kickstart recovery efforts following the harrowing event, which has killed hundreds of people and left untold infrastructural damage in its wake. “This earthquake tried to push Mexico down, but instead, Mexico is rising,” Zurita writes in a just-launched GoFundMe campaign dubbed #LoveArmyMexico. The campaign, which he created, has already raised roughly $190,000 of a $500,000 goal in just one day.
Mexico’s central bank is expected to hold borrowing costs steady this Thursday amid signs that consumer price inflation could start to fall after reaching its highest point in 16 years and as economists shrug off the impact of a powerful earthquake. The Banco de Mexico is seen leaving unchanged its benchmark rate at 7. 00 percent on Sept. 28, according to all 21 analysts surveyed by Reuters.
The United States and Mexico have agreed to renew and expand a far-reaching conservation agreement that governs how they manage the overused Colorado River, which supplies water to millions of people and to farms in both nations, U. S. water district officials said.
Travel infrastructure is largely intact. Officials say the damages suffered outside Terminal 2 of Mexico City International Airport will not inconvenience either passengers or planes, and service has been operational and regular since last week. American Airlines, Delta and United all have travel waivers in place for Mexico City through today but are operating all regularly scheduled flights. Popular meetings hotels have, likewise, for the most part suffered little damage. The 160-room Le Méridien, on Paseo de la Reforma, was closed for several days as a precaution, due to minor damage to the elevators
The launching of the North American Free Trade Agreement (NAFTA) negotiations on August 16, 2017 begs a serious and thorough discussion given what it is at stake for the three countries in terms of trade, investment, economic integration, competitiveness, jobs, shared production, and innovation. While a NAFTA modernization has been long overdue, this renegotiation was motivated by the wrong reasons; i. e. to address the United States’ concern regarding its trade deficit with Mexico and to return lost jobs to the U. S. manufacturing sector.
The re-negotiation of the landmark trade deal will shape the country’s future.
A recently proposed air tax for tourists arriving into Mexico has been rejected by tourism heads in the state of Quintana Roo. The National Business Tourism Council (CNET) made the $20 USD air tax proposal in June arguing that the state of Quintana Roo should be the first to test the tax since it receives the highest percentage of tourist travel. The tax, the council said, would be used for security purposes.
Hyatt Hotels Corporation (NYSE: H) announced today two new luxury hotel developments in Los Cabos and Mexico City, Mexico under the Park Hyatt brand. These two high-end properties, designed to meet the needs of the discerning global traveler, mark the anticipated debut of the Park Hyatt brand in the country, and will join the brand’s global portfolio in locations such as Bangkok, Paris, Tokyo, Vienna, Milan and Zurich, as well as two sister hotels in Latin America: Palacio Duhau-Park Hyatt Buenos Aires, and Park Hyatt Mendoza.
From soil and seed to table and teeth, one Mexican resort sheds light on the massive process of feeding its guests
The city government announced a plan of reconstruction loans and aid for apartment dwellers who lost their homes or who may lose them as teetering buildings are pulled down. But for city businesses like the downtown restaurant Guapa Papa, the result is already all too clear.