Tense times ahead for Mexico

The Mexican economy has essentially been a two-part tale lately: oil and services. The oil sector has been reformed for the better during President Pena Nieto’s term. But the reforms have nevertheless been overwhelmed by the sheer extent of the oil price drop. It is weakening exports, reducing tax revenues and hurting growth to the extent that the sector now accounts for around 4% of GDP, much less than in the past.

Continue reading

US, Mexico, Canada: joint-venture to host the richest World Cup in 2026

The football associations of the United States, Canada and Mexico have announced their intention to submit a joint bid to host the 2026 World Cup. The CONCACAF countries confirmed their plan to bring the tournament to North America at a press conference at One World Trade Centre in New York.

"Especially with what’s going on in the world today, we believe this is a hugely positive signal and symbol of what we can do together in unifying people," U.S. Soccer Federation President Sunil Gulati said at Monday’s bid launch, "especially in our three countries."
Gulati didn’t directly mention President Donald Trump in that particular remark, but the impact of the policies of the fledging administration on a World Cup bid involving feuding neighbors was a constant theme during the press conference.

Continue reading

Fugitive former Mexican Governor caught in Italy

Mexican prosecutors say that Tomás Yarrington, the 59-year-old former governor of Mexico’s north-eastern state of Tamaulipas, had been wanted by authorities for nearly five years and has been detained by police in Florence, Italy, according to Mexico’s attorney-general’s office. He is expected to be extradited to Mexico within days. The attorney general’s office said Sunday that ex-Gov. Tomas Yarrington is accused in Mexico of money laundering and organized crime.

Continue reading

Swiss company will build Trump’s wall? Maybe

At least 180 companies have already declared their interest in working with President Trump to build his proposed wall along the U.S. border with Mexico, just three days after the government announced the contract bidding process was open.

More companies will likely signal interest in competing for President Donald Trump’s massive border wall project, but 180 construction and engineering firms from across the U.S. registered to submit a bid for the contract as of Monday evening.

Continue reading