Economy & Finance

Economy & Finance

Over $1 billion is riding on Mexico's qualification

New Zealand Herald - We now know what Mexico had at stake. The price of failing against the All Whites and not progressing to the World Cup has been estimated to be as high as $1 billion. The huge figure shows what drove the Mexican players at the Azteca Stadium.

Carstens urges careful unwinding of Fed's QE

Reuters - Mexican central bank governor Agustin Carstens on Thursday called on the Federal Reserve to execute a "careful unwinding" of its massive bond-buying program, and said Mexico was prepared in the event of massive capital outflows that could result.

Carstens says Fed taper could be good for Mexico

CNBC -  The winding down of the U.S. Federal Reserve's asset purchasing program is generally viewed as negative for Mexico and other emerging markets. Yet, if managed properly, the "taper" of the program could be positive for these markets, says Agustin Carstens, Governor of the Bank of Mexico.

Business leaders say energy overhaul is urgent need

EFE - Mexico's powerful CCE business federation urged lawmakers to pass an historic energy overhaul without delay, saying the country "can't wait any longer." If congressional approval is delayed, "we Mexicans will continue to pay more for fuel and raw materials,"  CCE's Energy Commission president Jaime Williams Quintero, said.

S&P says Mexico has scope for further reforms

Reuters - Mexico has room for further fiscal reform to improve its tax base because a bill passed by Congress last week still leaves it well behind countries with stronger revenues, credit ratings agency Standard & Poor's said on Thursday.

2013 growth forecast cut by half due to export lag

Bloomberg - Mexican policymakers cut their growth forecast for this year in half after stagnant exports and a flagging construction industry led them to reduce interest rates by the most since the 2009 recession.

October inflation rises to 3.36 percent

CNNExpansión - Consumer prices in Mexico rose 0.48 percent in October to stand at 3.36 percent annual rate, given the increase in electricity tariffs by the end of the warm season allowance in some cities.

Carstens says inflation to remain above target in 2014

Bloomberg - Mexico central bank Governor Agustin Carstens said 2014 inflation will remain above target next year after Congress approved higher taxes on junk food and soda. Mexico’s inflation rate will accelerate to about 3.5 percent next year, he said.

Maquiladora industry cries foul on new taxes

AP — Industry groups say President Enrique Pena Nieto's proposed tax overhaul, expected to pass the Senate late Tuesday or early Wednesday, could strangle one of Mexico's economic success stories, the border factories known as maquiladoras.

Canadian lobby says Mexico firm on mining tax

Reuters - Canada's top mining lobby said that Mexican lawmakers remain "firm" on approving a system of mining royalty payments, despite the industry's best efforts to lower a levy that companies say will deter investment.

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