Grupo Mexico has announced that its subsidiary, Americas Mining Corp. (AMC), has accomplished its liquidation plan for ASARCO LLC, reuniting ASARCO with its main company. The process of reacquisition comes into affect the United States District Court Judge Andrew S. Henen’s order last month to accept GMEXICO’s full payment reorganization plan for ASARCO, concluding the company’s 4-year Chapter 11 proceeding.

While talking to reporters, vice president and general counsel of ASARCO Inc, Jorge Lazalde said, “Today marks the beginning of a new chapter for ASARCO and Grupo Mexico.”

Mexican Entertainment Company CIE has recently announced that it has successfully restructured a 5.6 billion peso ($441 million) debt, extending maturities by five years.

CIE had some 2.6 billion pesos in the domestic instruments and another 3 billion pesos worth of bank loans, some of the loans are in dollars that required to be restructured to improve its financial health in the country.

Mexican Finance Minister Agustin Carstens has announced that the economic system will grow above the 3% official prediction for 2010 as consumption and investment accelerate.

While talking to reporters in New York, the minister said that better credit conditions are also increasing domestic consumption. Further, he said, “The economy has performed better in the last few months than we anticipated.”

According to the FM, “Available information for the second half of 2009 indicates both external and domestic demands are expanding.”

According to the Finance Ministry, Mexico has fixed an average oil price for next year at $70 per barrel with put options bought from commercial banking institutions, securing around 40% of the national budget in 2010.

Moreover, these put options will allow the country to sell oil at a set price in the future.

The Mexican government gets 40% of its budget from state-owned oil company Petroleos Mexicanos, the only company permitted to explore or produce oil within Mexico.

According to the statement issued by the Mexican Bank regulatory, bank lending is likely to increase by another 15% in the coming year, led by business credit and mortgage as the economic system retrieves from the recession period.

The economic fall that caused widespread layoffs and defaults on credit cards and other types of deft slammed Mexico’s banks in 2009.

The National Bank and Securities Commission head Guillermo Babatz said, “Mexico's banks have improved their balance sheets and are set to boost overall lending next year.”

The 2009 Miguel de Cervantes Prize, the highest literature award granted for writing in Spanish was grabbed by Mexican writer Jose Emilio Pacheco.

The award is presented annually by the Spanish Ministry of Culture to honor the lifetime achievement of a Spanish language writer.

While talking to reporters, president of the panel Joe Antonio Pascual said, “Pacheco is an extraordinary poet of the quotidian life, for his capacity of creating a world of his own and for the ironic detachment from the reality seen in his works and to define Pacheco was to define a whole language.”

The Mexican government-backed mortgage lender Infonavit has announced the launch of a mutual fund of mortgage-backed securities to increase liquidity and to help deepen Mexico’s capital markets.

Infonavit will kickoff the fund with 200 million pesos.

According to the statement issued by Infonavit, the fund will be available via banks and brokerages to Mexicans investing at least 20,000 pesos.

Mexico’s MVS Comunicaciones has finalized an agreement with US based Clearwire to install a WiMAX network covering around 23 cities of the country. It is believed that the working will begin in the second half of the next year and the launch will take place in the fourth quarter of 2010.

However, the operation is based on the Communications and Transportation Ministry regenerating the company’s ongoing spectrum holdings in eight of the planned 23 cities.

Dutch brewer Heineken NV eyes a quarter of the beer market to merge and to participate in that process. According to the CEO Jean-Francois van Boxmeer, “I expected a quarter of the global beer market will be brought up by the world’s top four brewers, Anheuser-Busch InBev (ABI. BR), SABMiller Plc (SAB. L), Heineken and Carlsberg (CARLb. CO).

While talking to reporters, Van Boxmeer said that it is a game that is still going on. He also added that we are looking forward to take in this event.

Aeromexico, one of Mexico’s two leading airlines, anticipates passenger traffic to increase by 5 percent in the next year after it declined by 3 percent this year due to the global economic crisis and local A/H1N1 flu.

While talking to reporters, Aeromexico CEO Andres Conesa said, “This year through October, (passenger traffic) has been lower, but in November and December we're seeing traffic above last year's levels.”