Mexico City and Sao Paulo, Brazil – As leaders in Washington rushed to stem the growing financial crisis in the United States, Latin American leaders thought they’d be unscathed. Brazil’s president, Luiz Inácio Lula da Silva, when asked what repercussions he expected at home, retorted, “What crisis?” Venezuelan President Hugo Chávez called it the “crash [...]
Mexico’s Currency Rebounds After Central Bank Buys $1.1 Billion
Oct. 23 (Bloomberg) — Mexico’s currency rallied after the central bank bought $1.1 billion worth of pesos. The peso rebounded from a record low, snapping a four-day losing streak. Banco de Mexico’s purchase at two auctions today added to the $12 billion of pesos it has bought over the past two weeks to stem a [...]
Mexico peso hit by dollar demand, bonds sink
MEXICO CITY, Oct 20 (Reuters) – Worries more Mexican companies may be exposed to heavy currency derivatives losses hit the peso on Monday, while bond yields shot to their highest in more than two years. The peso <MXN=> MEX01 fell 1.32 percent at the central bank’s final 1:30 p.m. local time (1830 GMT) reference [...]
MexQuest Mortgage Closes $1 Million Dollar Loan In Mexico
MexQuest Mortgage Corporation, a leader in real estate financing for Mexico with corporate headquarters in Sacramento, California, reports their latest residential loan closing in Jalisco, Mexico in the amount of $1 million US dollars. One example of the many loans they close in Mexico, attributing their success to expert knowledge and understanding of the real [...]
Dollar’s value finally up abroad
In the current economic gloom, there’s a ray of travel-related sunshine: the increased strength of the U.S. dollar. Though no one can explain exactly why, the dollar has risen against every major foreign currency other than the Japanese yen, and it has increased substantially against some of them. Though the change in exchange rates hasn’t [...]
Nayarit Riviera: Mexico’s next hot beach
CHACALA, Nayarit — Along the secluded, jungle-fringed beaches of the Mexican Pacific coast, things tend toward perfection. There are perfect sunsets, explosions of orange and purple as the sun dips nightly over the bays; perfect waves, which rush toward shore in steady, unchanging curls to the delight of local surfers; and it’s where you might [...]
Puerto Vallarta and the Mexican iguana affair
IF ever a movie transformed a town, The Night of the Iguana turned Puerto Vallarta from an anonymous fishing hamlet to a city that has outgrown its geographical boundaries. Puerto Vallarta (pronounced Porto Vayarta) on Mexico’s west coast is a magnet for tourists and a regular stop for luxury liners sailing the Mexican Riviera. In [...]
Mexican Pacific Coast Tourism Project to Outshine Cancún
Monday, October 13, 2008 Mexican Pacific Coast Tourism Project to Outshine Cancún By Barnard R. Thompson The Mexican government has announced a major new tourism development that will stretch along the Pacific Ocean coast of southern Sinaloa – a project that will ultimately be twice the size of Cancún. A master planned tourist area to [...]
Yelapa – Puerto Vallarta’s Most Eclectic Daytrip
Just one hour from the luxury and excitement of Puerto Vallarta, the village of Yelapa lures day trippers with the promise of rustic charm and exotic seclusion. Yelapa, meaning “gathering place,” was once just a sleepy fishing outpost, but has recently found new life as both an artist retreat and an outdoor recreation destination. As [...]
Enter PV09 and take advtantage of free seminars
In light of current events, there’s a case to be made that sailing off to Mexico in Del Rey Yacht Club’s PV09 International Race Series to Puerto Vallarta next Jan. 31 makes economic sense for several reasons. Those who sign up by Oct. 31 for the 20th biennial event, presented by CORUM Swiss Timepieces, will [...]
Boutique Condo Community Ayia Launches This November in Punta Mita, Mexico
PUNTA MITA, Mexico, Oct 09, 2008 (BUSINESS WIRE) — Emini Equities, developer of Ayia Punta Mita, has announced the availability of 27 two-bedroom condominiums for sale starting this November at Punta Mita, a 1,500-acre, master-planned luxury resort community 45 minutes north of Puerto Vallarta. Designed by renowned Mexican architect Jose “Pepe” deYturbe, Ayia (“sacred place” [...]
Mexico’s peso hits lowest level against dollar
MEXICO CITY: Mexico’s peso fell to its lowest real level against the dollar and the stock market dropped nearly 6 percent Monday to 21,611.5 as the country’s economy was pulled into the global economic crisis. The Central Bank said the peso’s daily benchmark fixed rate fell to 11.8 per dollar — a sharp drop from [...]
Mexican Peso Sinks to Record Low as Financial Crisis Spreads
By Michael J. Moore Oct. 6 (Bloomberg) — Mexico’s peso plunged to a record low as the global financial crisis deepened, prompting investors to pull money out of higher-yielding, emerging- market assets. The peso dropped 4.7 percent to 11.8050 per dollar at 5 p.m. New York time. The decline is the biggest since October 1997, [...]
Dollar’s gain is good news for travelers
By Carol Pucci Seattle Times travel writer American visitors to Mexico will find their dollars buying more than they have in a long time. Above, La Parroquia de la Purisima Concepcion, the main parish church in Tequila, Mexico, is virtually in the center of town. The plaza is a popular gathering spot where tequila tours [...]
America’s wealthiest are picking Mexico over Hawaii in a hunt for value vacations
Oct. 6 (Bloomberg) — As U.S. markets spiral downward, America’s wealthiest are redeeming reward points, choosing million-dollar timeshares over luxury third homes and picking Mexico over Hawaii in a hunt for value vacations. Members of Hilton Hotels Corp.’s loyalty program who live in the 10 wealthiest U.S. zip codes redeemed 42 percent more reward points [...]
Mexico Real Estate Versus US Real Estate
A year over year decline in housing prices in the US are very rare, but the failure of financial giants like Lehman and Washington Mutual mean it will probably be a while before housing prices start recovering. Smart Money editor Jack Hough told the Wall Street Journal This Morning Podcast on September 30th that “I [...]
Frolic in nature and taste the culture in Riviera Nayarit
Irene Butler, Canwest News Service Published: Friday, October 3, 2008 Curtains of foliage drape the sides of narrow waterways deep in the mangrove forest. Our small boat manoeuvres past the bulging roots needed to hold these towering trees upright in the silt base. “See the crocodiles?” says our guide José. He stops the engine [...]
Top 10 Facts About Puerto Vallarta Real Estate
Puerto Vallarta has grown from a quiet little fishing village to one of the fastest growing real estate markets in Mexico. Here are our top ten facts about this investment hotspot. 1. Sales of resort real estate in Puerto Vallarta has increased from $50 million in 2000 to $500 million in 2007 (NuWire). 2. Vallarta [...]
In Mexico, a Sliver of Pacific Coast Untouched by High-Rises
WHEN Joanie Cartal and Ian Purse first visited Sayulita, Mexico, six years ago, it was still a basic torpid fishing village on the Pacific Ocean, the kind of place favored by vagabond surfers and scrawny mutts. They were so taken with the place, which was just being discovered by tourists, that a year later they [...]
Survey Report: Mexico Remains Attractive to International Investors
In a survey released by KPMG this week, Mexico is the only Latin American economy that will increase its participation in the total amount of investment undertaken by multinational corporations in the region in the next five years. Increases are expected mostly in the services and manufacturing sectors. The results were reported as part of [...]
Want to Find Treasure in the Sierra Madres?
Do you remember the 1927 novel, “The Treasure of the Sierra Madre”, which was about a couple of down-and-out Americans that joined up with a crusty old timer to prospect for gold in Mexico? It was later adapted into a film by John Huston in 1948, who returned to Puerto Vallarta, Mexico in 1964 to [...]
Hot to buy Real Estate in Mexico
You need your own team when buying Real Estate in Mexico. If you are a foreigner buying in another country, how are you going to know what questions to ask if you don’t have any knowledge of foreign laws which govern your purchase? There are no federal agencies which oversee real estate or the agents [...]
Mexico in The Sky At The 2008 Albuquerque International Balloon Fiesta
Published by Ozgur Tore Sunday, 28 September 2008 Mexico will fly high into the sky this fall season for the first time ever as the Mexico Tourism Board (MTB) participates in the 37th Annual Albuquerque International Balloon Fiesta, the most photographed event on earth, which will take place from October 4th through October 12th, 2008 in [...]
VivaAerobus adds Puerto Vallarta flight from Austin
By Claudia Grisales | Monday, September 29, 2008, 12:22 PM Mexican discount carrier VivaAerobus said Monday it will launch new nonstop service from Austin to Puerto Vallarta starting next year. The carrier will offer afternoon departures to the Mexican community starting Jan. 15, said Jim Halbrook, spokesman for Austin-Bergstrom International Airport. The flights will be [...]
Mexico magic for families
By ANITA DRAYCOTT, SPECIAL TO SUN MEDIA In today’s hectic world, it’s not surprising that the desire to spend more quality time with our families is becoming a major travel trend. And sun-kissed Mexico is the perfecto playground. Here are some ideas if you’re heading south this winter: Mexico’s oldest resort has all the ingredients [...]
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