Economy & Finance
El Economista - The Mexican economy this year will fall 10 percent and won't recover to pre-crisis levels until 2011, says a report by BofA Merrill Lynch Global Research that predicts Mexico will emerge from recession in the third quarter of this year and that in 2010 the economy will grow at a moderate 3 percent.
Sentido Comun - Economic activity as measured by the Global Indicator of Economic Activity advanced 2.4 percent in seasonally adjusted terms in July, its second consecutive increase and the largest monthly gain in nearly five years.
Sentido Comun - Between January and August, the Ministry of Communications and Transportation has invested $1.232 billion in port, railway and airport infrastructure, completing 15 projects in 11 states.
Washington Post - U.S., Colombian and Mexican customs agents in one week this month seized more than $41 million in cash being smuggled between the ports of Manzanillo, Mexico, and Buenaventura, Colombia, officials said Monday. It is the largest seizure ever by Colombia or the United States.
Dow Jones - Mexico's banking system observed further improvements in asset quality during August on the back of lower levels of nonperforming consumer loans. Total loans held on the balance sheets of banks and their non-bank subsidiaries stood at 1.838 trillion pesos ($135.7 billion) as of Aug. 31.
Reuters - Mexico will decide in October whether it will allow experimental plantings of genetically modified corn, an agriculture ministry official said on Monday. DuPont Co., Dow Chemical and Monsanto have filed applications with the Mexican government for permission to begin testing their genetically modified corn strains.
El Economista - The leader of the PRI senators, Manlio Fabio Beltrones, warned that, if necessary, his party will have to "turn around" and change the entire tax collection tax package proposed by the federal government for 2010.
El Economista - Tax reform proposals included in the 2020 economic package "are on the right path" to comply with the principles of a desirable tax reform, said Jose Antonio Ardavín, acting Latin American director of the OECD in Mexico.
El Economista - Secretary of Labor and Social Security Javier Lozano said that the 65,000 jobs created in the last three months indicate that the loss of jobs will be stemmed and more positions will be created in the next few months.
El Economista - Secretaries of tourism of seven states have spoken out against folding the Tourism Ministry into the Economy Ministry, saying the sector is too strategic to the country's economic development to not be a separate secretariat.