Advertisement
Singapore markets closed

  • Straits Times Index

    3,272.72
    +47.55 (+1.47%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • Dow

    38,239.98
    +253.58 (+0.67%)
     

  • Nasdaq

    15,451.31
    +169.30 (+1.11%)
     

  • Bitcoin USD

    65,990.32
    +104.66 (+0.16%)
     

  • CMC Crypto 200

    1,421.23
    +6.47 (+0.46%)
     

  • FTSE 100

    8,058.05
    +34.18 (+0.43%)
     

  • Gold

    2,315.20
    -31.20 (-1.33%)
     

  • Crude Oil

    81.45
    -0.45 (-0.55%)
     

  • 10-Yr Bond

    4.6230
    +0.0080 (+0.17%)
     

  • Nikkei

    37,552.16
    +113.55 (+0.30%)
     

  • Hang Seng

    16,828.93
    +317.24 (+1.92%)
     

  • FTSE Bursa Malaysia

    1,561.64
    +2.05 (+0.13%)
     

  • Jakarta Composite Index

    7,110.81
    +36.99 (+0.52%)
     

  • PSE Index

    6,506.80
    +62.72 (+0.97%)
     

Cisco plans $4 billion worth of expansion in Mexico - government

Reuters
The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, May 4, 2015. REUTERS/Jim Young/File Photo

MEXICO CITY (Reuters) - U.S. networking equipment maker Cisco Systems Inc (CSCO.O) plans more than $4 billion worth of expansion in Mexico between 2016 and 2018, the Mexican government said on Tuesday.

Cisco's Chief Executive Officer Chuck Robbins made the announcement during a meeting with Mexican President Enrique Pena Nieto, the government said in a statement.

The expansion would boost output in Mexico of products ranging from routers, servers, switches and wireless access points, as well as spur the creation of 270 jobs and 77 indirect jobs, the government said.

It was unclear how much of the sum announced had already been set out in the company's plans for the country.

(Reporting by Dave Graham)