30 September 2009

FinMin: Fiscal deficit reaches MXN100.2 billion pesos in the first eight months of year; y/y revenue -6.7%; y'/y discretionary spending +13%

INEGI: Water, sewage spending -8.2% , seasonally adjusted, annualized in Jul v. 20.0% in Jun ; annual trend rate at -13.5%

INEGI: Electricity & communications spending -31.3% , seasonally adjusted, annualized in Jul v. -46.5% in Jun ; annual trend rate at -15.7%

INEGI: Transportation spending 12.7% , seasonally adjusted, annualized in Jul v. -26.0% in Jun ; annual trend rate at 3.6%

INEGI: Petroleum & petrochemical spending -16.4% , seasonally adjusted, annualized in Jul v. -55.2% in Jun ; annual trend rate at -23.5%

INEGI: Total metal mining output -42.3% , seasonally adjusted, annualized in Jul v. 107.0% in Jun ; annual trend rate at -0.8%

Markets: Peso firmed 0.14% at close Wed at 48hr sell rate of 13.5035 v. open of 13.5230 -- range 13.4785 - 13.5250

Markets: Bolsa IPC down 0.68% at close Wed at 29,232.24 v. open of 29,432.05 -- range 29,213.590 - 29,760.471

Banxico: Direct financing by commercial banks to private sector -4.4% in real terms, year-on-year, at end of August, to MXN1.694 trillion

Markets: Bolsa IPC down 0.38% in early trade Wed at 29,321.13 v. Tue close of 29,432.01 - up 0.10% -- Tue range 29,363.18 - 29,808.32

Markets: Peso weaker 0.02% in early trade Wed at 48hr sell rate of 13.5425 v. Tue close of 13.5400 - weaker 0.1% -- Tue range 13.51 - 13.24

Editorial Universal: Congressional committee chairs going to lawmakers backed by interest groups; expertise not politics should be criteria

Top Story Universal: Pemex Union Grants Itself 21% Bonus - Workers wrest massive productivity bonus despite 2009 slump in export prices

Editorial Jornada: Calderon has been ratcheting up rhetoric on poverty and equality, but policies, budget proposal don't walk the talk

Top Story Jornada: World Bank Calls For Salvage Of Human Capital - Amid worst crisis in 8 decades, Mexico should focus on nutrition, schools

Top Story Reforma: Taxman Pulls Rug Out For Underfoot - 2010 tax code changes would shoot taxes higher; retroactive tax charges possible

Top Biz Story Reforma: Change In Tax Code To Spark Injunctions - Proposal to limit cross-loss deferrals among business units to face suits

Top Story Financiero: Fiscal Proposal Goes Against G-20 Guidelines - Mexico bucks global finance plan calling for maintaining fiscal stimuli

Top Story Economista: More Money For Stabilization Fund - 2010 budget proposal calls for lifting cap on Petroleum Stabilization Fund

Top Story Excelsior: Fed District Housing Prices Up 30% - Rise between 2005-2009 raises fears of bubble, speculation; nationwide ave. up 23%

Top Story Milenio: General Detains Cuernavaca Police 3hrs - Military unit in charge of region seizes municipal police station, detains cops

Top Story Cronica: Juanito, Brugada Don't Even Trust Each Other's Words - Brugada questions delegate-elect's pledge to turn over post to her

29 September 2009

Markets: Peso firmed 0.15% at close Tue at 48hr sell rate of 13.5400 v. open of 13.5600 -- range 13.5088 - 13.5600

Corex: INEGI: Total manufacturing headcount -6.3% , seasonally adjusted, annualized in Jul v. -4.2% in Jun ; annual trend rate at -5.2%

Corex: INEGI: Total manufacturing work hours 7.7% , seasonally adjusted, annualized in Jul v. 27.6% in Jun ; annual trend rate at -6.3%

INEGI: Total manufacturing headcount 7.7% , seasonally adjusted, annualized in Jul v. 27.6% in Jun ; annual trend rate at -5.2%

INEGI: Total manufacturing work hours 7.7% , seasonally adjusted, annualized in Jul v. 27.6% in Jun ; annual trend rate at -5.2%

Markets: Peso weaker 0.26% in early trade Tue at 48hr sell rate of 13.5605 v. Mon close of 13.5260 - firmed 0.4% -- Mon range 13.48 - 13.24

Markets: Bolsa IPC up 1.36% in early trade Tue at 29,803.20 v. Mon close of 29,401.99 - up 2.23% -- Mon range 28,760.10 - 29,436.86

Banxico: Foreign reserves down to US$76.138bln on Sep. 25 v. US$76.542bln on Sep. 18

Editorial Universal: 'Juanito' will step aside, but not before the controversy laid bare the ugliest aspects of Mexican partisan politics

Top Story Universal: Juanito Backs Down; Cites Health - Rafael Acosta Juanito to step down as DF delegate; cede to AMLO-backed Clara Brugada

Editorial Jornada: Federal Electoral Tribunal overturning Federal District Electoral Institute rulings on two local elections illegitimate

Top Story Jornada: 10mln More Poor In LatAm Due To Crisis - World Bank says ranks of poor growing; 'a large part' of those are Mexican

Top Story Reforma: Juanito Trumped - After a month of vows to remain in office, Iztapalapa delegate-elect 'Juanito' to take 'sickness' leave

Top Story Financiero: 'Plan B' Aims At More Debt, Expenditure Cuts - If Los Pinos budget fails in Congress, govt sees more debt, deeper cuts

Top Story Economista: Hefty Luz Y Fuerza Payroll Swells - Public power utility covering central Mexico undergoing boom in costly headcount

Top Biz Story Reforma: Retirement Pension Insufficient - Privately run Afore social security funds not enough for decent retirement pension

Top Story Cronica: Juanito Breaks; Will Go On Leave - Iztapalapa delegate-elect meets with Mexico City mayor, agrees to take sickness leave

Top Story Milenio: Juanito Yields To Ebrard - After brief meeting with Mexico City mayor, Iztapalapa delegate-elect agrees to step aside

Top Story Excelsior: Govt Mum On Top-Earning Bureaucrats - Federal govt keeps secret names of officials earning MXN1mln per year or more

28 September 2009

Markets: Bolsa IPC up 2.23% at close Mon at 29,401.99 v. open of 28,760.10 -- range 28,760.10 - 29,436.86

Markets: Peso firmed 0.03% at close Mon at 48hr sell rate of 13.5260 v. open of 13.5300 -- range 13.4775 - 13.5350

INEGI: Total GDP proxy Igae +33.7% , seasonally adjusted, annualized in Jul v. +5.0% in Jun ; annual trend rate at +1.9%

INEGI: Services Igae +15.5% , seasonally adjusted, annualized in Jul v. +21.1% in Jun ; annual trend rate at +8.6%

INEGI: Industry Igae +39.9% , seasonally adjusted, annualized in Jul v. -2.7% in Jun ; annual trend rate at +0.6%

INEGI: Agriculture Igae -10.3% , seasonally adjusted, annualized in Jul v. +54.2% in Jun ; annual trend rate at -3.0%

Markets: Bolsa IPC up 1.55% in early trade Mon at 29,204.70 v. Sun close of 28,759.98 - up 1.04% -- Sun range 28,346.39 - 28,984.72

Markets: Peso firmed 0.33% in early trade Mon at 48hr sell rate of 13.5300 v. Fri close of 13.5750 - weaker 0.3% -- Fri range 13.49 - 13.24

Editorial Universal: Govt wants to raise taxes to control deficit; bad idea in recession; Mexico has ample room to increase debt, deficit

Top Story Universal: Deficit Debate Held On Unrealistic Premises - Fiscal deficit of 0.5% for 2010 does not include off-book liabilities

Top Story Jornada: State Of Alert In Maximum Security Prisons - National Security Council declares emergency due to overcrowding

Top Story Reforma: Country Squanders Youth Talent - Demographic boom may lose out to unemployment and migration due to lack of labor reforms

Top Biz Story Reforma: Mexican Fuel Oil Costs - Fuel oil costs 3.6x more to produce than natural gas; 11% more than internatl producer price

Top Story Financiero: Fear Mounts Of New Drop In Economy - Global concern that crisis entering new down grows as consumption remains lax

Top Story Economista: No Earmarks For Poverty Tax - 2% antipoverty consumption tax proposal sets no guidelines for spending funds on poor

Top Story Cronica: Juanito Will Work & Live In Delegation - Iztapalapa delegate-elect to live in delegation headquarters with tight security

Top Story Milenio: FinMin: Even In China, New Taxes - Amid criticism of proposed new taxes, FinMin notes other nations are raising taxes too

Top Story Excelsior: Thousand Bureaucrats Earn More Than MXN1mln Annually - More than 1 thousand federal public servants earn huge salaries

26 September 2009

Top Story Excelsior: 13% Of Debtors In Arrears - 7mln of 54mln Mexicans with credit of some type have problems making payments, says govt

Top Story Universal: 1 In 7 Mexicans Alcoholic - Health Minister Cordova says booze risk higher than H1N1; 12% have some level of alcoholism

Top Story Reforma: Narco Entraps Municipalities - All of Mexico's drug cartels have a business partner in common: municipal police officers

Top Biz Story Reforma: We Are Rebounding: Carstens - Speaking at G-20 meet, FinMin says Mexican economy on rise, but risks remain

Top Story Jornada: Los Pinos Policies Myopic: Narro - UNAM rector lashes out at federal govt budget, fiscal proposals as short-sighted

Top Story Cronica: AMLO & Clara 'Used Me Like Toilet Paper': Juanito - PT Iztapalapa delegate says AMLO pressured him to step aside for PRD

Top Story Milenio: Rojas: Govt Dramatizing Crisis - Head of PRI federal deputies says Los Pinos exaggerating crisis to win budget approval

25 September 2009

Markets: Bolsa IPC up 1.04% at close Fri at 28,759.98 v. open of 28,465.11 -- range 28,346.39 - 28,984.72

Markets: Peso weaker 0.37% at close Fri at 48hr sell rate of 13.5750 v. open of 13.5250 -- range 13.4850 - 13.5750

Markets: Bolsa IPC flat in early trade Fri at 28,465.34 v. Thu close of 28,465.11 - down 1.71% -- Thu range 28,357.36 - 29,048.36

Markets: Peso firmed 0.29% in early trade Fri at 48hr sell rate of 13.4935 v. Thu close of 13.5330 - weaker 1.7% -- Thu range 13.38 - 13.24

Editorial Universal: Govt insists on raising taxes amid recession, but continues to pay idled Pemex workers at a cost of MXN19bln per month

Top Story Universal: 11k 'Aviators' On Pemex Payroll - More than 11,000 idled unionized oil workers receiving full salary, costing MXN19bln

Editorial Jornada: Confirmation of Arturo Chavez as Federal Attorney General amid heated controversy confirms gap between public, Congress

Top Story Jornada: PAN, PRI Trade Blame On Crime - PAN accuses PRI of complicity with narco, PRI attacks failure of PAN-led govt narco wars

Top Story Reforma: Opposition Calls For SSP Head To Quit - In Congress, lawmakers call for Public Security Minister Genaro Garcia to resign

Top Biz Story Reforma: SAT Would Seize Shareholder Assets - Under proposed 2010 tax code, authorities could sue owners of indebted company

Top Story Financiero: Fiscal Program Distant From Calderon's 10-Point 'Decalogue' - 2010 proposal odds with president's 10-point reform plan

Top Story Economista: 'Milking' Of Pemex Grows Inexorably - Tapping oil pipelines on the rise, increasingly more organized, sophisticated

Top Story Excelsior: Another Year Of Crisis Awaits: Banxico: Mexico will live through crisis until 2011, says central bank deputy governor

Top Story Cronica: Muni Cops Should Disappear: SSP - Public Security Miinister Genaro Garcia called on Congress to ban city police forces

Top Story Milenio: Garcia Luna Calls For End Of Municipal Cops - Public Security Minister proposes absorbing city cops into state corps

24 September 2009

INEGI: Aug seasonally adjusted, annualized exports rose 33.99% v. -5.76% in Jul -- annual trend rate 10.09%

INEGI: Aug seasonally adjusted, annualized Non-Petroleum Exports rose 77.65% v. -2.74% in Jul -- annual trend rate 7.83%

INEGI: Aug seasonally adjusted, annualized Petroleum Exports fell -18.57% v. -41.65% in Jul -- annual trend rate 20.52%

Markets: Bolsa IPC down 1.88% at close Thu at 28,465.11 v. open of 29,010.03 -- range 28,357.36 - 29,048.36

Markets: Peso weaker 1.16% at close Thu at 48hr sell rate of 13.5330 v. open of 13.3775 -- range 13.3770 - 13.5330

INEGI: Aug seasonally adjusted, annualized imports rose 5.56% v. 14.26% in Jul -- annual trend rate 16.04%

INEGI: Aug seasonally adjusted, annualized Intermediate Goods Imports rose 48.78% v. -4.30% in Jul -- annual trend rate 13.20%

INEGI: Aug seasonally adjusted, annualized Consumer Goods Imports fell -17.82% v. 162.22% in Jul -- annual trend rate 57.41%

INEGI: Aug seasonally adjusted, annualized Capital Goods Imports fell -29.13% v. 47.24% in Jul -- annual trend rate 5.24%

Markets: Bolsa IPC down 1.25% in early trade Thu at 28,596.65 v. Wed close of 28,959.67 - down 1.88% -- Wed range 28,951.46 - 29,774.23

Markets: Peso weaker 0.56% in early trade Thu at 48hr sell rate of 13.3792 v. Wed close of 13.3050 - firmed 0.2% -- Wed range 13.29 - 13.24

Editorial Universal: Senior citizens suffer abuse, prejudice in Mexico; only 25% receive pensions; 33% of lawsuits to stop looting by family

Top Story Universal: SAT Targets Soccer Players - Federal tax authority chasing down high-paid athletic stars suspected of evasion

Editorial Jornada: As A/H1N1 influenza continues to spread, lack of govt info, transparency, concrete plans aggravate spread, confuse public

Top Story Jornada: Calderon Fiscal Plan Lukewarm: Merrill Lynch - "Not a serious attempt to close loopholes or increase tax base," bank says

Top Story Reforma: 1mln Jobs Will Be Lost: Coparmex - National Employers Confederation raise estimate 30% to 1mln jobs lost by end of 2009

Top Biz Story Reforma: Experts Criticize 2010 Economic Program - Nobel laureates, economists, ex-officials rip govt fiscal plan on new taxes

Top Story Financiero: Legislative Paralysis; Congressional Committee Appts Stuck - 1 month into term, Chamber of Deputies still squabbling

Top Story Economista: FinMin Defends Embargoes - Ministry backs bill to permit property seizures without warrants in cases of tax debts

Top Story Cronica: Head Of High Schools Quits - J Rodriguez, Federal District director of high schools resigns amid fake diploma controversy

Top Story Milenio: Marti Kidnapper Not Linked To El Apa: SSP - Public Security Ministry says Abel Silva Petriciolet not linked to Flor gang

Top Story Excelsior: 2mln Tax Evaders Identified - FinMin has names of nearly 2mln with cash flow in bank accounts but who do not file taxes

23 September 2009

Markets: Bolsa IPC down 1.88% at close Wed at 28,959.67 v. open of 29,513.68 -- range 28,951.46 - 29,774.23

Markets: Peso firmed 0.72% at close Wed at 48hr sell rate of 13.3050 v. open of 13.4010 -- range 13.2900 - 13.4125

INEGI: Jul seasonally adjusted, annualized wholesales sales fell -6.91% v. 3.39% in Jun -- annual trend rate -7.88%

INEGI: Jul seasonally adjusted, annualized retail sales rose 6.10% v. 15.58% in Jun -- annual trend rate -4.55%

Pew Survey: 33% of Mexicans say that if they had the means and opportunity to go live in the US they would do so; 18% would do so illegally

Pew Survey: Mexicans believe life better in US; 57% say that people who move from Mexico enjoy a better life in the US, up from 51% in 2007

Pew Survey: Mexicans overwhelmingly are dissatisfied with the direction of their country. Top problems: crime (81%) and illegal drugs (73%)

Editorial Universal: Opposition is rejecting new taxes but lack their own proposals to close widening budget gap; we await serious ideas

Top Story Universal: Opposition Majority Rejects The 2% - Opposition lawmakers refuse to accept new 2% consumption tax on goods, services

Top Story Jornada: Carstens: 2% Tax Is Here To Stay - Amid rejection from opposition, FinMin defends new consumption tax in budget proposal

Top Story Reforma: MXN73mln In Narco Salary Cash Seized - Army makes find during raid on Monterrey safe house; cash separated into envelopes

Top Biz Story Reforma: Recovery Will Be Long: IMF - To return to 2008 rhythm, global economy will require at least 7 more years, IMF says

Top Story Financiero: 2010 Federal Budget Proposal Neither Easy Nor Pleasing - In Senate talk, FinMin Carstens stresses fiscal discipline

Top Story Economista: Around 3mln Mexicans Unemployed - Joblessness rate hit 6.28% in Aug (unadjusted), more that 2 points higher than Jul

Top Story Milenio: Oportunidades Works Says Cordero – Social Development Minister defends anti-poverty program against Coneval criticism

Top Story Excelsior: Joblessness Rises To 1995 Levels - In August, unemployment rate hit 6.3% (unadjusted), highest since Tequila Crisis

Top Story Cronica: Federal District Director Of High Schools Lied About Degree - Education chief completed 1 semester, university confirms

Markets: Bolsa IPC up 0.05% in early trade Wed at 29,527.52 v. Tue close of 29,513.68 - down 0.32% -- Tue range 29,458.43 - 29,862.57

Markets: Peso weaker 0.58% in early trade Wed at 48hr sell rate of 13.4073 v. Tue close of 13.3300 - firmed 0.6% -- Tue range 13.29 - 13.24

22 September 2009

Markets: Bolsa IPC down 0.34% at close Tue at 29,513.68 v. open of 29,613.90 -- range 29,458.430 - 29,862.570

Markets: Peso weaker 0.17% at close Tue at 48hr sell rate of 13.3300 v. open of 13.3080 -- range 13.2900 - 13.3660

Inegi: Seasonally adjusted urban joblessness rises to 7.35% in August vs. 7.23% in July and 4.97% one year prior; highest since 7.51% in May

Inegi: Seasonally adjusted open unemployment rises to 5.90% in August vs. 5.71% in July and 3.89% one year prior; highest since 6.07% in May

Markets: Bolsa IPC up 0.44% in early trade Tue at 29,736.55 v. Mon close of 29,607.16 - down 1.12% -- Mon range 29,390.52 - 29,952.63

Markets: Peso firmed 0.04% in early trade Tue at 48hr sell rate of 13.4015 v. Mon close of 13.4075 - weaker 1.2% -- Mon range 13.33 - 13.24

Banxico: Foreign reserves fall to US$76.542 on Sep. 18 vs. US$77.005 on Sep. 11

Editorial Universal: Court nepotism latest example of political class ignoring meritocracy in favor of cronies; will real reform ever come?

Top Story Universal: Judges Guilty Of Nepotism - Magistrates skirt laws to hire family members for courts, federal investigation reveals

Top Story Jornada: AMLO Proposes Plan To Generate MXN500bln - Sends 'alternative' budget to backers in Congress; spending cuts, tax hikes

Top Story Reforma: Defense Ministry Sick Of LyF - Dogged by power outages from public utility, National Defense Ministry links to Army grid

Top Biz Story Reforma: Banks Harass With Insurance Sales - Despite opt-outs, rise in sales outsourcing has bred phone marketing of insurance

Top Story Financiero: Lawmakers Back Greater Powers For SAT - Some in Congress pushing for more audit, enforcement authority for tax agency

Top Story Economista: First-Job Program A Failure - No new funds in 2010 budget proposal; only 2.6% of original MXN3bln funding used to date

Top Story Milenio: Oportunidades, Popular Insurance Make the Difference - In support of budget, president cites two anti-poverty programs

Top Story Cronica: Health Alert Level Increased For A/H1N1 - Health alert raised to intermediate as new influenza cases rise to 450 per day

Top Story Excelsior: Hunger, If 2% Tax Rejected, Says Calderon - President urges Congress to approve new 2% anti-poverty consumption tax

21 September 2009

Markets: Bolsa IPC down 1.10% at close Mon at 29,607.16 v. open of 29,936.94 -- range 29,390.52 - 29,952.63

Markets: Peso weakened 0.43% at close Mon at 48hr sell rate of 13.4075 v. open of 13.3500 -- range 13.3301 - 13.4075

Inegi: Aggregate Economic Demand -7.5% in Q2 on seasonally adjusted, quarter-to-quarter annualized basis; annual trend rate -15.0%

Inegi: Demand: Private consumption -5.1% in Q2 on seasonally adjusted, quarter-to-quarter annualized basis; annual trend rate +1.9%

Inegi: Demand: Govt consumption -6.2% in Q2 on seasonally adjusted, quarter-to-quarter annualized basis; annual trend rate +0.9%

Inegi: Demand: Gross fixed investment -16.8% in Q2 on seasonally adjusted, quarter-to-quarter annualized basis; annual trend rate -19.7%

Inegi: Demand: Exports -19.7% in Q2 on seasonally adjusted, quarter-to-quarter annualized basis; annual trend rate -23.5%

Inegi: Demand: Inventory changes +623.4% in Q2 on quarter-to-quarter, annualized basis; annual trend rate -7.5%

Inegi: Supply: Aggregate supply -1.9% in Q2 on quarter-to-quarter, annualized basis; annual trend rate -4.0%

Inegi: Supply: GDP -1.1% in Q2 on quarter-to-quarter, annualized basis; annual trend rate -2.3%

Inegi: Supply: Imports -6.1% in Q2 on quarter-to-quarter, annualized basis; annual trend rate -7.4%

Markets: Bolsa IPC down 1.75% in early trade Mon at 29,416.98 v. Fri close of 29,942.00 - down 0.25% -- Fri range 29,681.51 - 30,136.66

Markets: Peso weaker 0.67% in early trade Mon at 48hr sell rate of 13.3348 v. Fri close of 13.2460 -- Fri range 13.21 - 13.24

Editorial Universal: Excise tax on beer is not unjust, would not reduce demand; if brewers don't want it, they should propose an alternative

Top Story Universal: Brewers Threaten To Cut Investment - Beer industry reject proposed excise tax on beer, mull reducing major investments

Top Story Jornada: Our Govt Is In The Trenches: Ebrard - Mexico City mayor will fight federal funding cutbacks to preserve social programs

Top Story Reforma: Mining Tax Would Pull MXN4.7bln - PRI mining tax bill, backed by PRD, would create new 4% levy on mine revenues

Top Biz Story Reforma: Spending Grows Faster Than GDP - From 1H00 to 1H09 public spending grew an annual average of 6.9% while GDP only 1.8%

Top Story Financiero: Taxpayer Defense Office Urgent - With new tax code in pipeline, Congress can no longer delay formation of new office

Top Story Economista: US Ruling On IETU Could Derail Tax - Single Rate Business Tax may be rejected in 2010 for US accreditation purposes

Top Story Cronica: Director Of Federal District High Schools A Fake - Juventino Rodriguez Ramos claims university degree, but records say no

Top Story Milenio: Coneval Flunks 4 Anti-Poverty Programs - Govt agency says major federal social programs not yielding concrete results

Top Story Excelsior: More For Courts, Less For Health - 2010 Fed Budget grants more physical investment to justice system than to health

20 September 2009

Mayor of Najauca, Tabasco, Avenamar Leyva Gomez, kidnapped in home invasion, left alive on side of highway outside of town; motives unknown

Police beef up presence, begin random gun checks at subway stations after Friday's lethal shooting rampage

Report: PAN cobbles enough majority votes in Senate to confirm Arturo Chavez Chavez as new Federal Attorney General

10 days of torrential rains provoke floods Veracruz; 2,500 homes swamped, 112 landslides; army deployed, state of emergency declared

Top Story Universal: More Than 1,200 Kidnappers Run Free - At least 1,289 kidnap suspects with federal arrest warrants are evading arrest

Top Story Reforma: Rains Expose Trash Crisis - Floods block entrance to eastern dump; facility is overcapacity; garbage piles up in streets

Top Story Jornada: Leftist Lawmakers, Unions See Unholy Alliance Of Los Pinos & Minera Mexico - Say feds backing miner's labor repression

Top Story Excelsior: IADB Flunks Mexico's Transparency - Hemispheric development bank says country one of worst in terms of fiscal openess

Top Story Milenio: 2 Crimes Don't Represent Mexico City - Interior Minister Gomez Mont says subway shooting, airline hijacking are anomalies

Top Story Cronica: Fed District Govt Blames Conagua For Flooding of city dumps - Fingers National Water Commission's canal controls in zone

19 September 2009

Top Story Universal: Impossible To Evaluate Police: Tello Peon - Top cop says lack of money, capacity bars screening all 400,000 officers

Top Biz Story Universal: Inflation Pressures In 2010 - Midterm price and tax hikes by govt fiscal plan seen driving up inflation next year

Top Story Excelsior: Violence In The Metro; 2 Deaths - A man murdered 2 and wounded 7 in Mexico City subway; police managed to subdue him

Top Story Reforma: 2 Killed On Metro - Man opens fire on police after seen scrawling graffiti; kills cop, civilian, injures 7, takes bullet

Top Biz Story Reforma: Employment Rate Seen Falling Slowly - Banxico says economy growing again, but recovery to be jobless at first

Top Story Milenio: Shooting In Metro; 2 Dead, 8 Wounded - Police presence to be stepped up after allegedly disturbed man goes on rampage

Top Story Jornada: Individual Opens Fire In Subway - Lone gunman kills 2, injures 7 in random rampage in Mexico City Metro

Top Story Cronica: Calderon Undertakes New Energy Reform - President calls for new energy regime; focuses on petrochem but cites oil & gas

18 September 2009

US Government Accountability Office says security fence along US-Mexico border will cost US$6.5 billion over 20yrs; effectiveness unclear

Banxico: Central bank board votes to hold benchmark interest rate at 4.5%; says economy recovering, 2010 budget proposal inflationary

Markets: Bolsa IPC up 0.16% in early trade Fri at 30,066.40 v. Thu close of 30,017.72 - up 1.33% -- Thu range 29,625.02 - 30,227.14

Markets: Peso weakened 0.05% in early trade Fri at 48hr sell rate of 13.257 v. Thu close of 13.250 - firmed 0.3% -- Thu range 13.18 - 13.24

Mexico will seek financial data from US banks where its citizens are suspected of hiding cash from tax authorities; talking with US Treasury

Report: 4 in 10 Mexicans living in the US now came from Mexico, a new study by the Pew Hispanic Center said.

Editorial Jornada: Instead of raising consumption taxes, burdening public, closing corporate tax loopholes is the fiscal solution we need

Top Story Jornada: Military To Be Protected From Derision: Segob - Interior Minister Gomez asks Congress to judge war on drugs in good faith

Editorial Universal: Presidentialism has inherent flaw: the president is head of govt and head of state; Calderon has acted mostly as former

Top Story Universal: In Schools, 3rd Wave Of AH1N1 - The third outbreak has begun; Health Ministry says to last winter, infect 1-5mln

Top Story Reforma: ISSSTE Costs Skyrocket - Outlays on pensions for 2010 by the federal employee social security institute will rise 46%

Top Biz Story Reforma: Program To Subsidize Factory Salaries For Idle Plants Ends - Economy Ministry says industry back on track, jobs safe

Top Story Excelsior: First Anti-Poverty Rural City Founded - President Calderon inaugurated in Chiapas world's 1st "sustainable rural city"

Top Story Financiero: Taxpayers' Legal Security Shaky - Los Pinos plan to raise tax collection through freezing bank accounts may be illegal

Top Story Economista: Mexico Goes Against Fiscal Trends - While Mexico seeks new telecom taxes in 2010, Brazil & Chile to create exemptions

Top Story Milenio: 'Moral, Correct, Ethical,' The 2% Tax: UN - Organization backs Calderon proposal for 2% anti-poverty consumption tax

Top Story Cronica: Ebrard Challenges Fed Govt - Mexico City Mayor Marcelo Ebrard urges resistance to Los Pinos policies on taxation

17 September 2009

Markets: Stocks, peso open weaker after Wednesday Independence Day bank and markets holiday

Markets: Bolsa IPC down 0.71% in early trade Thu at 29,414.59 v. Tue close of 29,625.02 - down 0.00% -- Tue range 29,625.02 - 29,625.02

Markets: Peso weakened 0.7% in early trade Thu at 48hr sell rate of 13.39 v. Tue close of 13.29 - firmed 0.5% -- Tue range 13.28 - 13.24

Editorial Universal: Release of political prisoner Jacinta Marcial proves it more effective to litigate in the media rather than the courts

Top Story Universal: Authorities Justify Slaying At Drug Rehab - Chihuahua governor, Juarez mayor say incident was merely drug gang rivalry

Editorial Jornada: Thanks to pressure from rights groups, political prisoner Jacinta Marcial was released. Who else is still held?

Top Story Jornada: Closing Tax Loopholes Would Reap Billions: FinMin - Finance Minister Carstens applauds congressional move to review code

Top Story Reforma: Over the past 12 months, the 15 largest Mexican companies on the Bolsa have laid off 44,000, or 10% of employees

Top Biz Story Reforma: FinMin Tightens IETU - Tax authorities want to toughen the Single Rate Business Tax, end accreditation against ISR

Top Story Economista: Withholding Budgeted Funds Could Be Punishable - PRI to propose bill to force budgeted funds to be spent or reassigned

Top Story Financiero: Limited Room To Raise Deficit - With oil revenue falling, Mexico can't turn to foreign markets to finance gap: FinMin

Top Story Excelsior: PAN Created 41,000 Elite Bureaucrats - Top level govt staff grew 8-fold under PAN; top salary range soared as well

Top Story Milenio: Parties Oppose Tax Loopholes - PAN, PRD, PRI to review special exemptions, which cost tax coffers MXN464bln per year

Top Story Cronica: 'Juanito' Offered Money In Exchange For Iztapalapa - Salary, PT candidacy for Delegate 'Juanito' Acosta if he steps aside

16 September 2009

Security: 16 executed nationwide by narco; 6 burned alive in car in Tijuana; two families slain in Elota, Sinaloa and Juarez, Chihuahua

Security: Zacatecas Gov. Amalia Garcia confirms motorcade fired upon; governor was not in any of the vehicles; no injuries reported

Sep. 16 Independence Day: Markets & bank holiday; some newspapers do not publish on this day; Calderon marks 199 years since independence

Top Story Universal: Opposition: Fiscal Plan Will Not Pass As Is - At FinMin congressional testimony, parties criticize new taxes, new cuts

Top Story Reforma: Carstens' Plan Rejected - FinMin testifies in Congress; opposition parties refuse to support 2010 federal budget proposal

Top Biz Story Reforma: FinMin Rules Out Growing Debt - Tells Congress 0.5% fiscal deficit is largest mkts will finance in current conditions

Top Story Milenio: Majority Supports 2% Tax: Carstens - FinMin says govt polls show "immense majority" willing to pay 2% anti-poverty tax

15 September 2009

INEGI: Jul seasonally adjusted, annualized IP/Manufacturing 69.83% v. -14.41% in Jun -- annual trend rate 5.24%

INEGI: Jul seasonally adjusted, annualized IP/Construction 5.82% v. 18.41% in Jun -- annual trend rate 2.70%

INEGI: Jul seasonally adjusted, annualized IP/Mining 34.03% v. -24.12% in Jun -- annual trend rate -1.94%

INEGI: Jul seasonally adjusted, annualized IP/Gas, Water, Power 11.01% v. 8.13% in Jun -- annual trend rate 3.37%

Banxico: International reserves grow to US$77.005bln as of Sep. 11 v. US$76.459bln on Sep. 4

Markets: Bolsa IPC up 0.11% in early trade Tue at 29,414.59 v. Mon close of 29,383.19 - down 0.22% -- Mon range 29,118.25 - 29,464.81

Markets: Peso weakened 0.3% in early trade Tue at 48hr sell rate of 13.39 v. Mon close of 13.36 - firmed 0.1% -- Mon range 13.35 - 13.24

Editorial Universal: Calderon is alone; after years of consensus, 2010 Federal Budget proposal faces rejection from almost all every sector

Top Story Universal: Govt, PAN: No Plan B For Budget - Los Pinos and PAN warn there is no alternative to its 2010 federal budget proposal

Editorial Jornada: What irony that Obama will continue trade embargo on medically sound Cuba while seeking universal health care at home

Top Story Jornada: Carstens: 10k Bureaucrats To Be On The Streets - 2010 Federal Budget includes plan to slim govt, close three ministries

Top Story Reforma: Congress Has 5k Bureaucrats - Despite its criticism of federal bureaucracy, Congress spends MXN4.4bln/yr on its staff

Top Biz Story Reforma: Economic Plan To Stoke Inflation - 2010 Federal Budget would cause inflation via new taxes and higher fuel prices

Top Story Financiero: Calderon Proposes Financial Reform - Los Pinos proposed a new financial reform to address tight credit in 2010 to 2012

Top Story Economista: There Is Margin For Higher Deficit - 2010 fiscal deficit could widen to 1.5% to stimulate economy; proposed at 0.5%

Top Story Cronica: 10k Bureaucrats To Be Fired In 2010 - Finance Minister says 10k federal workers to be laid off; part of austerity budget

Top Story Milenio: Maximum Security At Gritos - Independence Day celebrations to be under tight watch following grenade incident last year

Top Story Excelsior: Super-Salaried Bureaucrats To Be Trimmed - FinMin to seek ways to thin ranks of highly paid top government officials

14 September 2009

Banxico: August consumer inflation up 0.24% on month to annualized rate of 5.08% v. 5.44% in July; core inflation falls from 5.32% to 5.10%

Banxico: Average weighted credit card interest rate 29.8% in June; BanCoppel highest at 69.2%; Banco de Bajio lowest at 26.4%

Markets: Bolsa IPC down 0.71% in early trade Mon at 29,241.11 v. Fri close of 29,448.79 - up 0.44% -- Fri range 29,255.85 - 29,516.77

Markets: Peso weakened 0.2% in early trade Mon at 48hr sell rate of 13.41 v. Fri close of 13.38 - firmed 0.1% -- Fri range 13.30 - 13.24

Editorial Universal: PAN has resulted as corrupt and clientelistic as the PRI in politics; the only answer is a change in political culture

Top Story Universal: The 2% Hurts Poor More: Study - ITESM research shows a 2% consumption tax to fund poverty combat to cost poorest 2.2%

Editorial Jornada: The federal cutbacks on funding for the Federal District not due to current fiscal crisis; they are politically motivated

Top Story Jornada: 'Disappointing' The 2010 Economic Packet: CEESP - Think tank criticizes lack of long-term planning, reliance on stop-gaps

Top Biz Story Reforma - Cutzamala Suffers Massive Milking - Mexico City reservoir system loses 3k liters per second through illegal taps

Top Biz Story Reforma: IMSS Budget To Fall 14% - Under Los Pinos proposal, Social Security Institute to receive 14% less in investment funds

Top Story Economista: Corporations Hit By FinMin - If Congress approves budget as is, large foreign and domestic companies will take a hit

Top Story Financerio: Pensions To Absorb 2.4% of GDP In 2010 - Pension pressure on public finances to heighten next year

Top Story Cronica: Carstens Requests US$34.2bln In Debt - FinMin proposes new debt for 2010 budget; US$8bln in foreign debt, rest in pesos

Top Story Milenio: Cost Of Top Bureaucracy Raised MXN 100bln: PRI - Under Fox and Calderon, hikes upper levels of government salaries costly

Top Story Excelsior: No Consensus On 2% Tax - Los Pinos proposal to create 2% consumption tax to combat poverty will not be approved: PRD

13 September 2009

Top Story Universal: Fox Mega-Project, Canceled - The Parota hydroelectric dam among public works to get axed by 2010 budget proposal

Top Story Reforma: SEP Doesn't Know How Many! - As incredible as it may seem, the Education Ministry does not know how many teachers it has

Top Story Jornada: More Food, But 1.2bln Suffer Chronic Hunger: UN - Rising food prices not over, warns UN; we must confront global warming

Top Story Milenio: PAN To Confront "Feudalists" In The PRI - Electoral analysis by PAN vows to eliminate pockets of PRI political machines

Top Story Cronica: Los Pinos Willing To Amend Budget - Calderon spokesman says president would accept congressional changes to 2010 budget

Top Story Excelsior: Bours Overridden; Auction Canceled - Sale of Sonora state-owned TV broadcaster Telemax canceled amid public suspicions

Top Story Financiero: MXN502.5bln In Loop Holes - President's tax proposal does not touch the special regimens, worth an estimated 4% of GDP

CMHN Rejects Fiscal Proposal: The Mexican Business Council reproached Finance Minister Agustin Carstens for plan to raise tax rate to 30%