Economy & Finance
Reuters - Severe flooding that hit Mexico this month is likely to knock off about 0.1 percentage point from growth in 2013, with reconstruction efforts in the final quarter helping to dampen the impact, Finance Minister Luis Videgaray said on Friday.
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.
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.
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.
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.
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.
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.
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.
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.
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.