Economy & Finance

Economy & Finance

Wal-Mex, Chedraui, Bimbo rise on no-tax plan

Bloomberg - Wal-Mart de Mexico posted its biggest advance in two years after President Enrique Pena Nieto avoided proposing taxes on food and medicine in a fiscal bill he sent to Congress. Chedraui and Bimbo also rallied.

www.bloomberg.com/news/2013-09-09/walmex-gains-with-gruma-as-food-tax-scrapped-mexico-city-mover.html

Mexico's fiscal reform: Will it deliver?

Financial Times - Did Enrique Peña Nieto’s proposed fiscal reform deliver what Mexico needs to boost its woefully low tax take? One way of assessing that is to gauge what the reform aims to provide against the bills that Mexico has to pay.

blogs.ft.com/beyond-brics/2013/09/09/mexicos-fiscal-reform-will-it-deliver/#axzz2eUd0I8h3

Mexico proposes new tax regime for Pemex

Reuters - Mexico's government on Sunday proposed replacing state oil monopoly Pemex's heavy taxation scheme with a new, more flexible regime similar to those faced by private companies.

www.reuters.com/article/2013/09/09/us-mexico-economy-pemex-idUSBRE9870ID20130909

Central bank unexpectedly cuts interest rate

Financial Times -Mexico’s central bank on Friday delivered a 25 point rate cut to 3.75 per cent that few saw coming, despite the economy’s lurch to its first contraction in four years in the second quarter this year.

www.ft.com/intl/cms/s/0/b0f89264-170e-11e3-9ec2-00144feabdc0.html#axzz2e9xkyLAs

 

Fed uncertainty seen keeping Bank of Mexico on hold

Fox News Latino - The Bank of Mexico might be tempted to cut interest rates this week after the economy took a turn for the worse and inflation slowed, but consensus is that the specter of Fed “tapering” will keep policy makers on hold.

latino.foxnews.com/latino/money/2013/09/05/fed-uncertainty-seen-keeping-bank-mexico-on-hold/

Consumer confidence rises for 2nd month in August

Reuters - Mexican consumer confidence rose for the second month in a row in August, when adjusted for seasonal factors, the national statistics agency said on Wednesday.

www.reuters.com/article/2013/09/04/mexico-economy-idUSL4N0H030W20130904

Consumer prices rise more than expected

Bloomberg - Mexican consumer prices rose more than expected in early August, pushing the annual inflation rate higher. Prices climbed 0.26 percent in the first two weeks of the month, compared with the 0.16 percent median forecast of 16 economists.

www.bloomberg.com/news/2013-08-22/mexico-consumer-prices-rise-more-than-expected-in-early-august.html

Economy grows less than expected

Bloomberg - Mexico’s economy grew less than forecast by any of the analysts surveyed by Bloomberg in the second quarter as industrial production declined on a sluggish U.S. recovery. Gross domestic product expanded 1.5 percent from the year earlier.

www.bloomberg.com/news/2013-08-20/mexico-economy-grows-less-than-expected-as-industry-contracts.html

2012 economy grew 3.8% under new methodology

Reuters - Mexico's economy grew 3.8 percent in 2012, versus an original reading of 3.9 percent, the national statistics agency said on Tuesday, using a new methodology that changed the base year.

www.reuters.com/article/2013/08/20/mexico-economy-revision-idUSL2N0GL0IF20130820

Pena Nieto plans strategy for Asia-Pacific region

EFE- President Enrique Peña Nieto plans to consolidate the "strategy of moving closer to countries in the Asia-Pacific region" before completing his first year in office, allowing Mexico to expand trade and investment.

www.globalpost.com/dispatch/news/agencia-efe/130818/mexico-focusing-asia-pacific-region-trade-investment-meade-says

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