Chinese companies are turning their backs on Mexico in a chill that could last years, spooked by the cancellation of two high-profile projects that were supposed to usher in a new era of business between the manufacturing rivals.
Mexico is desperate to get the relationship back on track after its shock scrapping of a multi-billion-dollar high-speed train contract originally awarded to a Chinese-led consortium earlier this year, a move that angered Beijing.
Seeking to wean itself off dependence on the United States and compensate for an oil slump that hammered public finances, Mexico has sought to involve China in a new Mexico City airport, a multi-billion dollar mobile wireless network and its newly opened energy sector.
But after the train debacle and the acrimonious scuttling of a Chinese retail park planned in the resort of Cancun, some firms in China, whose economy is cooling, are deeply wary of Mexico and unlikely to ramp up business with Latin America’s second largest economy any time soon.
Reuters – Mexico’s government said it will investigate reports that federal police killed 16 unarmed people in two attacks in January, the latest allegations to raise the specter of abuses by Mexican security forces.
WSJ – An expected wave of international geological firms set to scan Mexico’s oil patch for oil and gas reserves will give the country a clearer picture of its riches, the nation’s top energy regulator said.
MLSSoccer – Mexico are preparing for the 2015 Pan American Games in July and for the CONCACAF Men’s Olympic Qualifying Championship in October. The roster includes six players from Mexico’s 2011 FIFA U-17 World Cup championship squad and two more from the team that reached the U-17 World Cup final in 2013.
7News Denver – Colorado’s Wild Animal Sanctuary is trying to raise $60,000 to help rescue an injured lion in Mexico. Güero is an African lion who has a broken neck. Sanctuary founder Pat Craig believes Güero was most-likely injured by a guillotine door on his cage.
Sentido Comun – EmpleoListo, a digital company specializing in Latin America recruitment, collected $6.75 million to close a round of private financing, in which private equity funds such as Indigo Capital, Mexico Ventures, Thayer Ventures and Social Promoter participated.
Sentido Comun -The Federal Electricity Commission (CFE), said it has reduced downtime per user of electricity in the Valle de Mexico by 87.5 percent in the last four years, from 440 minutes in 2010 to 55 minutes in 2014.
El Sol de Mexico City – With all 12 strategic reforms adopted over the last three years, today the Mexican economy shows a “mediocre and disappointing” behavior, said HR Risk Ratings. The firm’s CEO said that the economy will be one of the decisive factors when people cast their votes in the elections next June 7.
El Universal – Federico Figueroa, brother of singer-songwriter Joan Sebastian, is being investigated by the Attorney General of Morelos and the Attorney General’s Office for alleged ties to organized crime groups, revealed Morelos Gov. Graco Ramirez.
El Sol de Toluca – The civil organization Stop Kidnapping reported that Tamaulipas, along with the municipalities of Ecatepec, Ciudad Nezahualcoyotl, Chalco, Cuautitlán and Tlalnepantla Chimalhuacán, top the list of places with the highest number of kidnappings in the country.
It is estimated that Mexico will reach 65 million Internet users this year. This is having a significant effect on the real estate market.
According to Lamudi’s research, 82 percent of consumers now use the Internet in their real estate search process, as they move away from traditional methods and turn to desktops and laptops, as well as mobile devices, to search for properties.
In the last quarter of 2014, the number of online real estate queries in Mexico grew by 25 percent from 2013, according to Google Analytics.
This access is causing house-hunters to become more specific and analytical in their search for property. The ability to reduce time and optimize each search through the filtration of location, property type and price, is encouraging consumers to move online.
Reuters – Mexican authorities said on Sunday they had captured Jesus Aguayo, a leader of the Juarez Cartel wanted by the United States government, who took the helm after the organization’s long-time chief was nabbed last year.