Economy & Finance

Economy & Finance

Carstens says economic slowdown is temporary

Reuters - A slowdown in Mexico's economy, which contracted in the second quarter, is temporary, Central Bank Governor Agustin Carstens said on Tuesday, forecasting growth would recover to levels of around 3 percent in 2014.

Government exempts taxpayers affected by rains

El Economista - The Federal Executive issued a decree by which gives various tax benefits to taxpayers affected by the recent rains, with the aim of contributing to the revival of the production plant and preserve sources of employment.


Seasonally adjusted jobless rate dips in August

Reuters - Mexico's seasonally adjusted jobless rate fell to 4.78 percent in August, its lowest since February. Latin America's No. 2 economy has stumbled this year amid slack U.S. demand for local exports and a drop in domestic construction.

Mexico hedges oil at highest price on record

Financial Times - Mexico has hedged its oil production for the coming year at the highest price on record, in a striking indication of how stubbornly high oil prices continue to allow producing governments to finance growing budgets.

Fed move increases bets on Mexico rate cut

Reuters - The U.S. Federal Reserve's decision to keep its stimulus unchanged on Wednesday, due to concerns about the health of the U.S. economy, deepened bets that Mexico will further cut interest rates to spur growth.

World Cup no-show would be economic no-no

Bloomberg - Mexico's national soccer team is nearing the abyss of elimination from next year’s World Cup in Brazil. Failure to qualify for the World Cup would reverberate off the field long after the fans’ wailing and jeering had stopped.

"Aztec tiger" struggles to earn its stripes

Financial Times - When Enrique Peña Nieto assumed the Mexican presidency in December, he seemed to promise a breath of fresh air and unleash an “Aztec tiger”. Ten months later, however, the tiger appears to have run out of puff.

Fitch says Mexico reform neutral for credit

Reuters - The Mexican government's recently proposed fiscal reform and the 2014 budget are broadly neutral for its sovereign creditworthiness, according to Fitch. Fitch upgraded Mexico's sovereign ratings by one notch on May 8, 2013.

Senate OKs members of new telecoms regulator

Reuters - Mexico's Senate on Tuesday approved seven nominees to head a new telecommunications regulator created by a sweeping sector overhaul that seeks to boost competition and tame billionaire Carlos Slim.

Beer sales are latest battlefield against monopolies

McClatchy - Dozens of craft brewers are popping up in Mexico. They have less than 1 percent of the market, however, because two behemoths control 98 percent of beer consumed in Mexico, employing tactics that lock out most newcomers.

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