economy-featured
Recent downturn expected to be erased in 2014
Financial Times - Mexico's disappointing first quarter GDP figures must have been a hard pill to swallow. It’s not all bad news however. Economists expect the country to grow 3.9 per cent in 2014. Those numbers might quell some of the recent anxiety.
Mexico grows less than forecast in 1st quarter
Bloomberg - Mexico’s economy grew less than analysts expected in the first quarter, fueling bets policy makers will cut interest rates again this year. Gross domestic product in the first three months of the year rose 0.8 percent from the year-ago period.
Majority of states approve telecom, media reforms
Bloomberg - A Mexican law to boost competition in telecom and media gained approval from a majority of state legislatures, surmounting its final hurdle for passage. “It’s a historic day for Mexico,” Jose Ignacio Peralta, deputy communications minister, said.
www.bloomberg.com/news/2013-05-14/majority-of-mexico-states-approve-telecom-bill-official-says.html
Carstens says price shocks transitory, inflation to slow
Reuters - Recent Mexican price shocks are transitory, expectations are well anchored and inflation should fall below 4 percent relatively quickly, Mexico's Central Bank Governor Agustin Carstens said on Tuesday.
www.reuters.com/article/2013/05/07/mexico-economy-idUSL2N0DO1IK20130507
Mexico aims to overhaul tax system, raise revenue
Reuters - Tax breaks for attending “civic values” courses, tax-free sales of second-hand furniture, special treatment for call centres and an informal economy employing six out of 10 workers are all in the line of fire as Mexico prepares a long-awaited tax overhaul.
Remittances fall 14.7 percent in March
Sentido Comun - Mexicans working abroad sent home $1.783 billion in March, 14.7 percent less than the same month last year and the worst drop since last September, another sign that the U.S. economic slowdown has hit Mexico's economic growth.
Telecom overhaul wins final approval
Dow Jones - Mexico's Senate on Tuesday adopted legislation to revamp the country's telecom market, giving final congressional passage to a bill intended to increase competition and end quasimonopolistic practices.
www.foxbusiness.com/news/2013/04/30/mexico-telecom-overhaul-wins-final-approval/
Inflation exceeds 4% as Banxico signals rates on hold
Bloomberg - Mexican inflation unexpectedly climbed above its target range as the central bank signaled it doesn’t plan to further cut borrowing costs to spur growth. The peso rallied.
Bloomberg, El Financiero to launch HD channel
C21 - US news service Bloomberg has partnered with Mexican newspaper El Financiero to launch a Spanish-language HD channel in Mexico and Central America in late 2013.
Peso rise tests Central Bank's hands-off stance
Reuters - Mexico's peso is scaling new highs amid confidence in the country's reform push, a likely credit ratings upgrade and profit taking after last week's interest rate cut, sparking speculation about how far it will rise before authorities act.
www.chicagotribune.com/business/sns-rt-us-mexico-economy-pesobre92d0h5-20130314,0,7359488.story
