Economy & Finance

Economy & Finance

AMLO asks Senate to revise privileges

La Jornada - Appearing before a Senate panel seeking the repeal of the liquidation of Luz y Fuerza del Centro, PRD opposition leader Andres Manuel Lopez Obrador said it is time to explore why employees, professionals and small- and medium-sized manufacturers pay up to 1,500 percent more in income tax than the country's big businesses and bankers.

Mexico sells $250 million after drop in peso

Sentido Comun - Banco de Mexico sold $250 million after the peso fell more than 2 percent against the dollar amid fears that lawmakers will reject proposals to increase tax revenues and the government will not cut expenditures in an amounts sufficient to avoid a larger fiscal deficit in 2010.

Mexico could reduce CO2, says World Bank

Kansas City Infozine - Mexico could reduce its carbon (CO2) emissions by at least 42 percent (or 477 million tons) per year by 2030 without sacrificing economic development, a World Bank study on low-carbon development in Mexico concluded.

Fiber optic auction rules to be published next month

Reuters - Mexico said on Monday it plans to publish the rules next month for a fiber optic tender, which local and international telecom companies are eagerly awaiting in order to expand their reach. The government hopes to award the contracts in January.

Merrill Lynch sees 3% growth in 2010

Xinhua - Mexico's economy will grow three percent in 2010, following a steep decline this year, Merrill Lynch said in a report published Monday. The investment bank also urged the Mexican government to undertake structural reforms and reduce dependence on the United States.

Concerns are growing over Banxico succession - Concerns are increasing about how the central bank will face the retirement of long-time governor Guillermo Ortz and select a new leader who must address the effects of the economic crisis.

Study headed by Zedillo criticizes World Bank - The World Bank suffers from an "institutional weakness" that undermine its strength and must be reformed if it is to play a real role in meeting new global challenges, says a commission study headed by former Mexican President Ernesto Zedillo.

Analysts say investors are losing interest in Mexico - Financial analysts are warning that the Mexican economy is becoming less attractive in international markets and that investors prefer to take refuge in Brazil, whose economy is showing a surprising recovery.

Garment industry starting to recover

El Economista - Garment manufacturing has started showing positive signs of recovery in the export market after the downturn caused by the economic crisis, says the National Chamber of the Clothing Industry (NVIC).

Mexican government spending is lowest in OECD

El Economista - Government spending in Mexico is the lowest among OECD countries, with an output below 20 percent of the gross domestic product, said the organization in a study titled "Overview of Government."

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