Economy & Finance

Economy & Finance

Mexico struggles to break productivity shackles

Financial Times - How to increase output per worker in Mexico has become one of the most urgent challenges facing the government of Enrique Peña Nieto as it implements a host of structural reforms.

Two economies explain Mexico's productivity quandry

WSJ -Mexico’s biggest hurdle to raising productivity is its large informal economy. But what’s worse, according to a McKinsey study is that the informal economy is gaining on the formal as a provider of jobs while falling even further behind in productivity.

Carlos Slim's son slams new telecom rules

Reuters - Carlos Slim Domit, son of Mexican billionaire Carlos Slim and chairman of family-controlled America Movil, has criticized a reform bill seeking to increase competition in the sector dominated by the phone company.

Mexico economy expands in Jan.; services slip

Reuters - Mexico's economy expanded in January as industry grew at its fastest pace in nearly a year, the national statistics agency said on Tuesday, but a slight contraction in the services sector pointed to sluggish growth.

Carstens sees inflation below 4% for rest of year

Reuters - Mexico's Central Bank Governor Agustin Carstens said on Wednesday he expected inflation to remain below four percent for the rest of the year, possibly fluctuating around that level, before converging towards the bank's target early next year.  The bank targets an inflation rate of three percent with a tolerance band of plus or minus one percent.

Opposition says telecom bill undermines watchdog

Reuters - Mexico's opposition said on Tuesday a government telecom bill undermines a new watchdog by keeping key regulatory powers in the executive's hands, in a spat that could stall the passage of rules aimed at curbing cell phone mogul Carlos Slim and fellow tycoon Emilio Azcarraga's TV group Televisa.

Mexico's oligarchs face the music

Financial Times - Enrique Peña Nieto is on a blitz. Since becoming president of Mexico last year, his government has transformed the country’s international image. Now, though, comes the hardest part: fleshing out the reforms’ details and then implementing them. Early signs are mixed.

Mexico's foreign reserves fall by $54 million

EFE - Mexico's foreign reserves fell by $54 million last week to $180.8 billion, the Bank of Mexico said. Gold and foreign currency reserves decreased in the week ending March 7 mainly due to a drop in asset values. Reserves have grown by $4.28 billion since Jan. 1.

Mexico expects billions from energy reform

Fuel Fix - The opening of Mexico’s energy market could bring in as much as $35 billion in outside investment  for the country’s oil and gas plays, a Mexican oil executive said, boosting capital from $25 billion to $60 billion.

Carstens sees inflation returning to 3% goal


Reuters - Mexico's Central Bank Governor Agustin Carstens said on Tuesday he sees inflation returning toward the bank's 3 percent target, and would remain vigilant about any price contagion.

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