Mexico Outdoes Canada in Automobile Production

Latest news from maquilaportal.com has says that Mexico has outdone Canada in terms of production of automobiles and light trucks, in between 2008 and 2010. Last year 2,262,164 units were assembled, a number that is higher than Canada’s production total. "This year, if the shadow of the recession in the USA does not affect original plans, the record could be broken, mainly with expansion plans by Nissan, GM, VW and Chrysler."

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Mexico’s Marcatel Acquires 50% of STX Communications

The largest distributor of phone cards in U.S., STX Communications, sold 50 percent of its stocks to Marcatel SA, a closely held Mexican telecommunications company, the company said today in an e-mail statement made by PRNewswire. Through STX Communications, Marcatel aims to strengthen its business structure.

Debt Ceiling? What Debt Ceiling? - Kelly Phillips Erb - Taxgirl - Forbes

Debt Ceiling? What Debt Ceiling? - Kelly Phillips Erb - Taxgirl - Forbes

Here is a great read, for those of you who want to have a better understanding about what the debt ceiling is and how it affects the U.S. economy. This is a huge issue in the news and is said that it could have grave consequences if not solved by August 2, 2011. Read more here.

Mexico's Wind Power Conference in June

As this interesting article mentions, Mexico Wind Power, is a Wind Power conference where Mexican leaders discussed making more of an effort to develop its own wind energy industry. In order to take full advantage of Mexico’s wind power potential, Mexico needs to promote its own wind energy industry, not only support projects, and send clear signals to the market to conduct research and innovation in this regard.

Cemex Revival of Shelved Offering Sparked by Market Rebound: Mexico Credit

Cemex sold $650 million of its notes due in 2018 on July 6. The company sold the bonds to yield 9.5 percent (462 basis points more than similar bonds sold by Holcim Ltd., the world’s second-biggest cement maker).

In addition, Mexican central bankers will leave the lending rate at a record-low 4.5 percent today. Mexico is the only major Latin American country to keep borrowing costs unchanged in the past year.

Cartstens Promises to Boost Emerging Economies if Chosen for IMF

The head of Mexico’s central bank, Agustin Carstens, said today that if chosen as the top official at the International Monetary Fund he will work to increase representation for developing countries. He also spoke of increasing the IMF’s abilities to deal with financial crises, something that after managing the economic crisis of 2008 and with vast experience as the head of Banxico, he is well suited to do.

Agustin Carstens told the IMF’s 24-member executive board today that the world’s emerging economies needed a bigger voice in IMF decisions.

What is your opinion on the topic?

Source: The Washington Post