Mexico's Bimbo buying East Balt Bakeries Financial Mexico 

Mexico’s Bimbo buying sixth US baking company

Mexico City, Mexico — Mexico’s largest baking empire, Grupo Bimbo, has purchased another US baking company making it the sixth such agreement. Daniel Servitje Montull, Chairman of Grupo Bimbo, explained that as a way to expand its global reach the company has purchased US bakery, East Balt Bakeries for $650 million. “This acquisition drives Bimbo’s growth strategy to expand our global leadership and serve better and more consumers. East Balt enjoys long-standing strategic relationships with the largest and most established brands in the world. We look forward to East Balt…

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Canada and Germany open job vacancies to Mexicans Financial 

Canada and Germany open job vacancies to Mexicans

Employment opportunities for Mexican nationals who are fluent in German, English or French are being made available in both Canada and Germany. Maria Estela Chavira Martínez, head of the National Employment Service of Tamaulipas, says that young people from Tamaulipas will be able to access various employment opportunities in Germany and Canada as long as they meet the high level profile required by the governments of those countries. Among the requested qualifications are the German, French and English language skills. Chavira Martínez reported that there are more than 1,500 employment vacancies between Germany and  Canada that they…

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Functional separation of Telmex by the end of 2018 Financial Mexico 

América Móvil to create new company by end of 2018

Mexico City, D.F. — América Móvil expects that by the end of this year it will obtain the authorization of the Federal Institute of Telecommunications (Ifetel) to carry out the functional separation of Telmex in order to comply with the new regulation of preponderance, said Daniel Hajj, general director of the company. The functional separation is that América Móvil will have to create a company independent of its fixed telephone lines, Telmex and Telnor, to provide wholesale services related to local access, as well as the sharing of passive infrastructure,…

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Cyber fraud increases to 42% over six years Cancun Financial Mexico 

Cyber fraud now 42 percent of all claims

Cancun, Q.R. – According to government statistics, digital fraud in Mexico represents 664 million peso in losses already this year. Condusef (Comisión Nacional para la Defensa de los Usuarios de las Instituciones Financieras) warned of this crime growth noting it has gone from 7 percent to 42 percent over the past six years. Condusef says that in the fourth quarter of this year, digital cyber fraud already represented 664 million pesos in losses to bank users. Mario Di Constanzo, president of Condusef, explained that of the one 1.5 million fraud…

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A beach vacation in Mexico just got more expensive Financial Mexico 

A beach vacation in Mexico just became more expensive

Riviera Maya, Q.R. — Tourists wanting to vacation on the country’s main beaches will have to fork out more money this year. While tourist supply has stagnated, demand has skyrocketed in the country with the increase of flights and lodging along Mexico’s main beach destinations. A report by El Financiero found that traveling by plane to a traditional beach destination in Mexico to places like Vallarta, Los Cabos, Huatulco, Mazatlan, Cancun and Riviera Maya, costs an average of 3,350 peso per person this year, 28 percent more than same time last year. Vacationing during June or September…

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Taxi rates set to rise for state Financial Mexico 

Taxi rate increase requested by unions

Cancun, Q.R. — Customers using taxis in the state of Quintana Roo will likely have to pay more in the near future as unions request a fare increase. The 17 unions of taxi drivers that operate in the state have requested a fare increase. While the average rate hike request is 30 percent, it is more likely that the Comisión de Regulación de Tarifas will grant an increase of between 10 and 15 percent, explained Jorge Portilla Mánica, Secretary of Infrastructure and Transport (Sintra). Portilla Mánica said that the commission has been working…

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French designer sells 235 peso handbags for 28,000 Financial Mexico 

French designer sells 237 peso handbags for 28,000

Mexico City, D.F. — Famous French designer, Christian Louboutin, takes 2,000 Mayan bags to Italy where they are sold for an average of 28,000 peso each. The French designer, who is famous for his red-soled ladies shoes, hired four Maya women to hand-embroider 2,000 woman’s bags to be sold at a show in Italy. The five-month project was accepted by a handful of Maya women in the municipality of Santo Domingo, Maxcanú, located south of the state. Late last year, the women contacted Louboutin through the Maya World Haciendas Foundation and…

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Mexico's electric Zuca Financial Mexico 

Mexico launches its first electric car

Mexico City, D.F. — Mexicana Motores Limpios S.A.P.I. has launched the first 100 percent nationally produced electric car. The urban two-seater coupé will be introduced to the public during the remainder of 2017, says the company’s CEO Jorge Martinez. The company has made 100 of the new Zacua’s, which offers consumers 160 kilometers of travel on a single battery charge, which from zero to full, takes eight hours. The Zacua has a fully electric motor developed by Dynamic Technological Alliance with a French design by the firm Chatenet. The battery is of Chinese origin. The car…

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