Economy & Finance

Economy & Finance

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.

Mexico's cartels: Behind the drug war

CBC - Mexico's most wanted drug lord may be behind bars, but the capture of Joaquin (El Chapo) Guzman is unlikely to stem the flow of drugs and could spark new violence in the war waged by the country's notorious and violent cartels.

Annual inflation rate eases in early February

Reuters - Mexican annual inflation cooled in early February off an 8-month high, bolstering bets the central bank will leave interest rates on hold throughout the year. Inflation for the 12 months through the first half of February eased to 4.21 percent, below forecasts for a 4.32 percent rate.

Spanish official talks trade, economy in Mexico

EFE - Spain's secretary of state for Trade arrived Tuesday in Mexico to meet with high government officials and business leaders to agree upon the subjects to be discussed at the next meeting of the Mexico-Spain Binational Commission.

Migrants sent 3.75 less money back to Mexico

AP- Mexico's central bank says the amount of money Mexican migrant workers sent home to their families fell by 3.75 percent in 2013, as compared to the previous year. Remittances fell from $22.44 billion in 2012 to $21.60 in 2013.

Carstens says bank weighing policy shift

Reuters - Mexico's central bank is weighing whether monetary policy needs adjusting after annual inflation surged above its 4 percent tolerance ceiling, bank governor Agustin Carstens said in an interview disseminated on Wednesday.

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