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Mexican inflation quickens less than expected in early February

Mexican consumer price inflation accelerated by less than forecast in the first two weeks of February, data from the national statistics agency showed on Wednesday. Mexican annual inflation ticked up to 3.84% from a rate of 3.74% in the second half of January, but undershot the consensus forecast of a Reuters poll for a reading...
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Aeromexico posts quarterly loss, hit deeper by coroanvirus shutdowns

Mexican airline Aeromexico, which is undergoing a Chapter 11 restructuring process, on Tuesday posted a loss in the fourth quarter of last year, taking yet another hit from the coronavirus pandemic’s drain on global tourism. The company reported a net loss of 9.72 billion pesos ($487 million) in the October to December period, with passenger...
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Once a climate leader, Mexico is betting big on coal

The President of Mexico, Andrés Manuel López Obrador, is swimming against the current: while other countries are moving their economies away from the coal and other fossil industries, he has opted for plans to buy almost 2 million tons of thermal coal from small producers. It also seeks to reactivate a couple of coal plants...
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Pandemic reduces the cost of rent

The COVID-19 pandemic caused a drop in income for people throughout Mexico, as well as the need to move for many others who lost their jobs, which resulted in a slight reduction in the price of housing rentals. The Mexican Association of Housing for Rent ( Aver ) said that many tenants lost their jobs...
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Mexico’s economy will take five years to recover

The Center for Economic Studies of the Private Sector (CEESP) announced in its weekly analysis that the recovery of GDP to levels in which it had in 2018 will take more than five years to recover after the COVID-19 pandemic. The agency estimates that during the administration of President Andrés Manuel López Obrador the economy...
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A new position has been created at companies across Mexico; COVID Officer

As long as a coronavirus vaccine ( COVID-19 ) is not available, Mexicans will have to adapt to a “new normal” that consists of following a series of strict sanitary measures that will allow them to have a staggered return to their activities. For this reason, countless companies in Mexico have seen the need to...
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Mexico freezes bank accounts of entities sanctioned by U.S.

The Mexican government’s financial crime department has frozen the bank accounts of companies and people blacklisted by the United States under accusations of having evaded the sanction regime imposed on Venezuela, its chief said on Friday. Santiago Nieto, chief of Mexico’s Financial Intelligence Unit, did not elaborate on details, but told Reuters that bank accounts...
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Aeroméxico reportedly considering bankruptcy in the USA

The shares of Grupo Aeroméxico declined in the Mexican Stock Exchange (BMV) after reports that the airline is considering filing for bankruptcy in the United States and benefit from Chapter 11 in the midst of the effects caused by the coronavirus. Although the Mexican stock market operated in positive terrain, Aeroméxico shares led the falls,...
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Walmart Mexico rolls out mobile phone service

Walmart’s Mexican unit has launched a mobile phone service available throughout the country, the retailer said on Wednesday. Called “Bodega Aurrera Internet y Telefonia,” or BAIT, the service offering prepaid calls and internet usage is available at Bodega Aurrera, Mi Bodega and Walmart store formats. Mexican media first reported on BAIT’s availability in April. Walmart...
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10,000 companies did not survive the quarantine in Mexico

In two months, 9,984 formal companies closed in Mexico, according to data reported by the Mexican Social Security Institute (IMSS). On average, 163 companies permanently closed each day between April and May. It was in the same period in which the population had to reduce their activities and stay at home with the aim of...
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