Economy & Finance
International Business Times - Mexico’s Finance Secretariat expects the country to attract a record amount of foreign direct investment in 2013, and that in the first quarter of the year it had already attracted 40 percent of last year’s total sum.
Latin American Herald Tribune - Remittances sent by Mexicans living abroad fell 13.2 percent to $2.03 billion in May, compared to the same month in 2012, the Bank of Mexico said Monday. May marked the 11th consecutive month that remittances have fallen.
Reuters - Mexico's defenses against fluctuations in capital flows might fall short given the recent shift in global market sentiment, Banco de Mexico board member Manuel Sanchez said. The peso has lost more than 10 percent since May.
ABC Univision - A global race is on to create the next Silicon Valley, and Latin America is embracing technology and innovation as it vies to be the epicenter of the next tech boom. Who will dominate? Mexico and Brazil are the most poised for success.
Bloomberg - Mexico’s tourism industry, already the nation’s fifth-biggest source of revenue, is seen taking on more economic importance by the end of 2018 as international visits rise and new infrastructure is built.
Financial Times - Mexico’s stock market and currency might be getting hammered by the ongoing sell-off in emerging market assets, but there could be a silver lining to news that the US Federal Reserve could start scaling back its massive bond buying program.
Reuters - Mexico's microfinancing bank Compartamos, accused by activists of exploiting poor borrowers with exorbitant interest rates, has generally helped people but could cut the interest it charges without hurting its bottom line, a pair of studies has found.
Bloomberg - Mexico’s consumer prices unexpectedly fell in the first half of June, adding to pressure on policy makers to keep interest rates on hold even as inflation remains above the target range.
The Economist - In Mexico, many are reluctant to admit that the country has become a middle-class nation. This is partly because so much of Mexico’s historical narrative is about poverty; half a century ago, 80 percent of Mexicans were poor.
Reuters - Mexican inflation cooled in early June as fresh food prices fell although price gains are set to remain above the central bank's 4 percent ceiling for the fourth straight month.