Economy & Finance

Economy & Finance

Mexico's pride, its oil, could open to multinationals

NYT - President Enrique Peña Nieto, in what could be the biggest economic change in two decades, is on the verge of rewriting the constitution to open Mexico’s oil, gas and electricity industry to private investment — a provocative move that could shake up the North American energy industry and test the storied grip Mexico’s oil has had on its soul.

Annual inflation rate picks up pace in November

Reuters - Mexican inflation picked up less than expected in November on a spike in fresh food and electricity costs and muted underlying price pressures boded for steady borrowing costs through next year. Inflation in the 12 months through November rose to 3.62 percent.

Probe begins into America Movil and Televisa

Reuters - Giant Mexican telco America Movil and broadcaster Televisa, the two companies likely to be most affected by the country's telecoms reform, said on Thursday the regulator has told them it was determining whether they are dominant players in the sector.

Carstens says public spending, U.S. to boost economy

Reuters - Mexico should ramp up public spending in the first months of 2014 and its economy is also likely to receive help from improving conditions in the United States, central bank governor Agustin Carstens was quoted as saying on Tuesday.

New sales tax pushes shoppers across border

KTRH - Swarms of Mexicans are flooding into Texas these days. They're coming in droves to buy up newer, cheaper products because a new sales tax in Mexico is pushing shoppers north of the border.

Mexico education reform has work cut out

Financial Times - The OECD’s Program for International Student Assessment scores – which measure performance in literacy, maths and scienc – make for depressing reading for Mexico. Particularly if you compare performance with China – Mexico’s great manufacturing competitor.

Companies rush dividends before capital gains tax

Bloomberg - Mexican stock dividends are poised to rise to a four-year high as companies rush to return cash to investors before a new tax goes into effect next year. Payouts from companies on the benchmark IPC index are set to climb 55 percent from a year ago.

Senate gives preliminary nod to banking reform

Reuters - Mexican lawmakers on Tuesday approved the outline of a bill to boost lending in Latin America's second largest economy, by making it easier for banks to collect on guarantees for bad loans and beefing up regulatory power over financial firms.

Foreign cash swings Mexico's markets

Financial Times - Recently released balance of payments figures by Mexico’s central bank leave no doubt on how the Fed’s monetary policy hurts or benefits emerging economies. The Mexican economy saw an outflow of funds worth $4.9 billion in the second quarter.

Jobless rate dips in October in sign of recovery

Reuters - Mexico's unemployment rate fell in October, the national statistics agency said on Monday, in sign that a nascent economic recovery was holding up at the start of the fourth quarter.

Syndicate content