Markets: Bolsa IPC up 0.65% at close Mon at 30,927.11 v. open of 30,727.92 -- range 30,718.07 - 31,035.02
Mexico Watch Intelligence Service
The leading intelligence blog for analysis on business, politics, finance, and the economy for Mexico. Thousands of diplomats, analysts, investors, government officials and top executives with responsibilities - direct or otherwise - relied upon the Mexico Watch Intelligence Service for nearly 20 years. Publication of that service was suspended in 2009, but this blog remains in publication and free to read. Contact us for information on our research and consulting services.
19 October 2009
Markets: Peso firmed 0.88% at close Mon at 48hr sell rate of 12.9943 v. open of 13.1100 -- range 12.9904 - 13.1200
Editorial Universal: US war on drug supply, neglect of domestic demand has failed; Mexican, Colombian drug mafias firmly established in US
Top Story Universal: Narco Corruption Infiltrates US - As border security, inspection tightens, bribery budgets to corrupt US agents grow
Top Story Jornada: English Classes For Electric Workers That Accept Retirement - Union members that accept severance to receive job training
Top Story Reforma: PRI, Govt Go For 16% VAT - After 2% anti-poverty tax rejected, Congress goes for raising VAT, homogenizing border zone
Top Biz Story Reforma: Unemployment Feared - 2010 fiscal plan could inhibit new job creation and put millions of existing jobs at risk
Top Story Financiero: Carlos Slim: Viable Emerge From Crisis Without Reforms - Says reforms stuck, but private investment, job creation not
Top Story Economista: Deputies To Define Fiscal Packet Today - Revenue Law, tax code changes to be voted in lower house, sent to Senate
Top Story Milenio: Esparza Sold Alternative Power Service - For past two years, Electric Workers Union head had side job for Startech firm
Top Story Excelsior: Ex-SME Workers Could Be Entrepreneurs - Govt offers training for union members who accept retirement to own franchises
Top Story Cronica: PAN, PRI Back 16% VAT; Rule Out 2% Tax - Govt, parties agree to hike VAT by 1% and by 6% in border zone; drop 2% tax
Markets: Bolsa IPC up 0.68% in midday trade Mon at 30,934.65 v. Fri close of 30,726.30 - down 0.94% -- Fri range 30,662.16 - 31,017.73
Markets: Peso firmed 0.08% in midday trade Mon at 48hr sell rate of 13.0941 v. Fri close of 13.1050 - weaker 0.1% -- Fri range 13.04 - 13.24
18 October 2009
Top Story Universal: Only 6% Of SME Accept Retirement - In first 3 days only 2.5k of 44k Electric Worker Union members sign up for severance
Top Story Reforma: Epidemic Defies Health System: Hospitals facing second wave of infections with insufficient infrastructure, personnel
Top Story Jornada: Power Outages Hit Industry - Nearly 1,000 factories shut down for 11 hours due to closure of LFC, chaotic takeover by CFE
Top Story Cronica: SME Urges Rank And File To Reject Severance: 5.7% of union members accepted retirement in first three days of program
Top Story Milenio: Deploying Army Grew Narco: Fox - Ex-prez says army should be withdrawn from policing drug crime; 'strategy has backfired'
Top Story Excelsior: Mexico Is Desperate: McCaffrey - Former US drug czar writes Mexico faces economic failure, narco-led civil war
17 October 2009
Top Story Universal: Neither Side Cedes; SME Threatens Protests - In 7hr talks, govt and Electric Workers Union simply reaffirmed postures
Top Story Jornada: Govt To Union: 'First Accept Retirement, Then We'll See' - Mexican Electric Workers Union accuses officials of bad faith
Top Story Reforma: Election Halts Fiscal Debate - Local votes in Coahuila and Tabasco freeze Congres talks over the tax package, budget bill
Top Story Cronica: Labor Minister: Closure Of Luz Y Fuerza Not An Option - Says talks with union for 'dialog' not 'negotiations'
Top Story Milenio: 7hrs Of Dialog; Zero Results - No agreements reached in first round of talks; Electric Workers Union will file legal suit
Top Story Excelsior: Six Hours, No Agreements - Govt reiterates closure of Luz y Fuerza (LFC) utility irreversible; neither side cedes
16 October 2009
Markets: Bolsa IPC down 0.94% at close Fri at 30,726.30 v. open of 31,017.73 -- range 30,662.16 - 31,017.73
Markets: Peso firmed 0.18% at close Fri at 48hr sell rate of 13.1050 v. open of 13.1290 -- range 13.0350 - 13.1580
Banxico: Central bank holds benchmark lending rate at 4.5% at monthly monetary policy meeting; says recovery still needs legs
Editorial Jornada: Govt, union talks destined to fail so long as former continues to operate with anti-labor bias as underlying philosophy
Top Story Jornada: Interior Ministry Accepts Talks With SME - Feds, Mexican Electric Workers Union (SME) to sit down to negotiations today
Editorial Universal: Despite agreement to talks, both sides come to table with inflexible demands, as well as too much at stake
Top Story Universal: After Show Of Muscle, Talks Agreed - Federal govt agrees to discuss labor conflict after closure of state power utility
Top Story Milenio: Interior Ministry Limits Talks To Labor Reinsertion - Govt-union negotiations to focus on "exploring options" for rehires
Top Story Reforma: Dialog Pact - Interior Minister Gomez Mont and Mexican Electric Workers union (SME) to sit down to talks on LFC closure
Top Biz Story Reforma: IMCO Criticizes Lack Of Cuts To States - Competitiveness advocate states should not escape fiscal cutbacks
Top Story Financiero: A W-Shaped Recovery - Private sector worried that year-end upturn will wilt in early 2010 as US fiscal stimulus ends
Top Story Economista: SME Flexes Its Muscles - Mexican Electric Workers union mustered tens of thousands of members, supporters to march
Top Story Cronica: Fed District Says Segob, SME Agree To Talks - Mexico City Mayor Ebrard to mediate negotiations of Los Pinos, electricians
Top Story Excelsior: Formal Govt Talks w/SME Agreed - After huge Mexico City march, Interior Ministry agrees to negotiate w/electric union
Markets: Bolsa IPC down 0.94% in early trade Fri at 30,725.44 v. Thu close of 31,017.73 - up 0.44% -- Thu range 30,666.38 - 31,091.15
15 October 2009
Markets: Bolsa IPC up 0.44% at close Thu at 31,017.73 v. open of 30,881.10 -- range 30,666.38 - 31,091.15
Markets: Peso weaker 0.03% at close Thu at 48hr sell rate of 13.0860 v. open of 13.0825 -- range 13.0770 - 13.1105
Markets: Bolsa IPC up 0.23% in early trade Thu at 30,952.32 v. Wed close of 30,881.10 - up 0.88% -- Wed range 30,614.20 - 31,108.63
Markets: Peso firmed 0.77% in early trade Thu at 48hr sell rate of 13.0750 v. Wed close of 13.1760 - firmed 0.5% -- Wed range 13.13 - 13.24
Editorial Universal: Supreme Court ruling on Oaxaca fingers PRI Gov. Ulises Ruiz, but wrongly exonerates ex-Prez Fox; consequences unlikely
Top Story Universal: Hard Left To Flex Muscles Today - Radical left seizing upon govt closure of LFC state power utility as acid test
Editorial Jornada: Supreme Court ruling that holds Oaxaca state officials responsible for human rights abuses during 2006 riots commendable
Top Story Jornada: Average LFC Salary MXN6k/mo. - Average worker earns MXN6,600 per month, eligible for MXN435k severance this month only
Top Story Reforma: Ebrard Cancels International Book Fair For SME - Mexico City mayor clears Zocalo plaza for Electric Worker protests
Top Biz Story Reforma: Aerospace Investment Soars - Mexico is leading world as new destination for aerospace manufacturing investment: govt
Top Story Financiero: 2% Tax, More Administrative Burden - If approved, new tax will generate more business costs for taxpayers, experts say
Top Story Economista: 8 Of 10 Doubt 2% Tax Use - 76% of adults surveyed doubt proposed anti-poverty tax funds will go to help the poor
Top Story Cronica: Severance Process Begins; 44,551 Checks Ready - Voluntary LFC retirement program kicks off; first phase to last one month
Top Story Excelsior: Govt Offers MXN435mln And Rehires - Ex-LFC workers that except severance terms will be first to be rehired, says govt
Top Story Milenio: In 1 Day, 1,311 H1N1 Cases - Health Ministry tells Congress more than 1k new cases recorded on Tue; 257 deaths to date
14 October 2009
Markets: Bolsa IPC up 1.11% in early trade Wed at 30,952.32 v. Tue close of 30,611.10 - up 0.45% -- Tue range 30,306.90 - 30,635.07
Markets: Peso firmed 0.77% in early trade Wed at 48hr sell rate of 13.0750 v. Tue close of 13.1760 - firmed 0.5% -- Tue range 13.13 - 13.24
Editorial Universal: Crackdown on plastic surgery clinics after Alejandra Guzman mishap: why do authorities wait for public scandal to act?
Top Story Universal: Blackouts In 4 States, Fed District - Many areas supplied by extinct Luz y Fuerza without power during CFE transition
Editorial Jornada: Pro-immigration reform rally in DC a reminder for Obama, Capitol Hill that migrant cannot take backseat to wars, health
Top Story Jornada: Federal Police Force Us To Work: SME - Electricians being forced to work by federal forces in supply stations, says union
Top Story Reforma: Congress Cold On SME - Deputies vote down resolution backing Mexican Electric Workers union and Supreme Court challenge
Top Biz Story Reforma: New Credit Bureau Coming - Govt forms new agency to track debtors that use pawn shops, other non-traditional credit
Top Story Financiero: Banks Rule Out Crisis For Bad Debt - Despite rising arrears, overall mortgage portfolio not at risk, association says
Top Story Economista: Labor Ministry Proposes Union Reform - Floats business chambers a plan to make union pay, elections more transparent
Top Story Milenio: CFE To Be Permanent Fix - No new co.; president opts for national state-owned power utility to permanently replace LFC
Top Story Excelsior: Power Theft Exceeds Arrears - Stealing electricity costs MXN25bln/yr; MXN7bln in unpaid bills; CFE to limit both
13 October 2009
Markets: Bolsa IPC up 0.44% at close Tue at 30,611.10 v. open of 30,475.49 -- range 30,306.900 - 30,635.070
Markets: Peso firmed 0.29% at close Tue at 48hr sell rate of 13.1760 v. open of 13.2145 -- range 13.1346 - 13.2302
Markets: Bolsa IPC down 0.40% in early trade Tue at 30,354.80 v. Mon close of 30,475.43 - up 1.45% -- Mon range 30,033.94 - 30,475.45
Markets: Peso firmed 0.30% in early trade Tue at 48hr sell rate of 13.2032 v. Mon close of 13.2430 - firmed 0.4% -- Mon range 13.20 - 13.24
Editorial Universal: Public opinion against corrupt SME union, shoddy LFC service, but govt faces stigmas of 'privatization' 'authoritarian'
Top Story Universal: Parties Call For Equal Treatment For Unions - Point to Oil Workers, Education Workers Unions, question privileges, pay
Editorial Jornada: Govt steamrolled workers and ordinary households in LFC shutdown -- democracy should not be run by decree
Top Story Jornada: Los Pinos Does Not Pay For Power: SME - Union says presidential palace, major hotels, Telmex, others do not pay for power
Top Story Reforma: Fed District Backs SME - Mexico City Mayor Ebrard says LFC union workers not to blame for utility's ill financial results
Top Biz Story Reforma: MXN18bln In Savings - Federal govt forecasts savings of MXN18bln in 2010 from closure of LFC central power utility
Top Story Financiero: State-Owned Firms Cost MXN400bln - Most public companies in red, drain MXN400bln annually in federal subsidies
Top Story Jornada: CFE Proposes New Electricity Company - National power generator the Federal Electricity Commission wants new distributor
Top Story Excelsior: Severance Pay To Cost MXN1mln Per Worker Annually - Govt slates MXN24.5bln to pay pensions, severance for LFC utility
Top Story Milenio: Beltrones: Liquidation Warranted - Leader of PRI Senate caucus backs presidential decree to close, liquidate LFC utility
Top Story Cronica: CFE To Maintain Rates; Guaranty Supply - Federal Electricity Commission to leave power rates unchanged during takeover
12 October 2009
INEGI: Jul Gross Fixed Investment Indicator +3.6% v. +6.5% in Jun on seasonally adjusted, annulized basis -- Annual trend at -6.5% in Jul
INEGI: Jul GFI Machinery & Equipment Indicator -16.4% v. +16.9% in Jun -- Annual trend at -18.5% in Jul
Markets: Peso weaker 0.33% at close Mon at 48hr sell rate of 13.2430 v. open of 13.1995 -- range 13.1970 - 13.2430
Markets: Bolsa IPC up 1.45% at close Mon at 30,475.43 v. open of 30,038.74 -- range 30,033.94 - 30,475.45
INEGI: Aug seasonally adjusted, annualized Industrial Production Index -2.62% v. +39.85% in Jul -- annual trend rate +4.04%
Corex for month: INEGI: Aug seasonally adjusted, annualized Industrial Production Index -2.62% v. +39.85% in Jul -- annual trend rate +4.04%
Corex for month: INEGI: Aug seasonally adjusted, annualized IP/Manufacturing -14.87% v. +71.04% in Jul -- annual trend rate +4.45%
Corex for month: INEGI: Aug seasonally adjusted, annualized IP/Construction -20.49% v. +6.25% in Jul -- annual trend rate -2.38%
Corex for month: INEGI: Aug seasonally adjusted, annualized IP/Mining +16.31% v. +45.45% in Jul -- annual trend rate +0.18%
Corex for month: INEGI: Aug seasonally adjusted, annualized IP/Gas, Water, Power +6.32% v. +12.83% in Jul -- annual trend rate +4.78%
INEGI: Jun seasonally adjusted, annualized IP/Mining +16.31% v. +45.45% in May -- annual trend rate +0.18%
INEGI: Jun seasonally adjusted, annualized IP/Manufacturing -14.87% v. +71.04% in May -- annual trend rate +4.45%
INEGI: Jun seasonally adjusted, annualized IP/Construction -20.49% v. +6.25% in May -- annual trend rate -2.38%
INEGI: Jun seasonally adjusted, annualized IP/Gas, Water, Power +6.32% v. +12.83% in May -- annual trend rate +4.78%
AMIA: YTD automotive production -37.7% to 992,153 vehicles; exports -35.5% to 804,258; domestic sales -30.5% to 530,163
AMIA: Monthly automotive production -22.7% to 146,295 vehicles in Sep; exports -18.7% to 117,433; domestic sales -23.6% to 58,505
Markets: Bolsa IPC up 0.74% in early trade Mon at 30,260.70 v. Fri close of 30,039.71 - up 0.47% -- Fri range 29,833.87 - 30,049.44
Markets: Peso firmed 0.57% in early trade Mon at 48hr sell rate of 13.2225 v. Fri close of 13.2980 - weaker 0.2% -- Fri range 13.22 - 13.24
Top Story Universal: No Agreement Reached; Union To Resist - Union meets with govt on closure of LFC; will file challenge with Supreme Court
Editorial Jornada: Closure of LFC continues president's strategy of deluding the public as it dismantles and privatizes national power grid
Top Story Jornada: No Turning Back On Closure Of LFC: Govt - Union demands reversal of decision, threatens protests; govt to move ahead
Top Story Economista: Liquidation Of LFC To Cost MXN20bln - Cost of severance pay for workers will reach up to MXN20bln, says FinMin
Top Story Reforma: Severance Pay Of 2.5yrs Of Salary - Govt to offer up to 5 times legal minimum for severance to those that sign off now
Top Biz Story Reforma: Companies Cheer Closure Of LFC - Top business organizations applaud liquidation of LFC and its 40k workers
Top Story Financiero: There Will Be No Privatization: Calderon - LFC will not end up in private hands; state-owned CFE to assume control
Top Story Cronica: LFC Unsustainable: Calderon - Every second, Luz y Fuerza power company loses MXN2,000; in 2008 losses totaled MXN60bln
Top Story Milenio: Electric Workers To Be Rehired - President orders CFE to rehire as many former LFC workers as possible during takeover
Top Story Excelsior: Liquidation To Cost MXN20bln - Closing Luz y Fuerza to cost more as govt offers bonus for voluntary union retirement
11 October 2009
Top Story Universal: Switch Thrown Off At LyFC; Employees Liquidated - President shutters power utility, citing massive ongoing losses
Top Story Jornada: Govt Assaults LFC HQs; Orders Its Extinction - In a midnight raid, police, troops seize HQ; govt decrees closure of firm
Top Story Reforma: LyFC Liquidated - The federal govt seized the headquarters of Luz y Fuerza del Centro and decreed its liquidiation
Top Story Milenio: Luz y Fuerza Liquidated - Govt decrees closure of Mexico City state-owned power utility; says no privatization in store
Top Story Excelsior: Luz y Fuerza Liquidated - Power utility for Federal District and surrounding areas to be liquidated; govt mum on future
Top Story Cronica: Luz y Fuerza Liquidated; Police Seize Facilities - Federal govt shutters Mexico City state-owned utility, citing losses
09 October 2009
Editorial Universal: Mexican left lacks vision, policy; thus the unconditional backing of Electric Workers Union, a corrupt arm of big labor
Top Story Universal: Fed District To Sue Health Ministry - Claims of feces in water supply was slander; suit to seek resignations, damages
Editorial Jornada: Labor Minister Alacron's refusal to recognize Electric Worker Union elections provoked conflict - but it's also illegal
Top Story Jornada: SME: LFC Will Not Be Handed Over - Electric Workers Union stage giant march to Los Pinos, demand Luz y Fuerza intact
Top Story Reforma: Los Pinos Meets With SME - Electric Workers Union head meets with president's personal assistant to present demands
Top Biz Story Reforma: Factory Employment Leads - New job generation in past four months coming from northern manufacturing centers
Top Story Financiero: 30% Income Tax Viable, Say Companies - Business lobby conditionally agrees to ISR hike from 28% to 30% in 2010
Top Story Economista: Closure of LFC Viable: Experts - Analysts say Luz y Fuerza del Centro utility should be absorbed by larger CFE
Top Story Excelsior: 'Captive' Taxpayers To Pay More - Opposition agrees to federal budget proposal to raise taxes on companies, wealthy
Top Story Cronica: Electric Workers Give Govt Ultimatum - Threatens strikes, protests nationwide if govt does no accede to LFC union demands
Top Story Milenio: Vaccine Will Be Late, Limited - Health Ministry admits disorganization, says 20mln H1N1 influenza vaccines due by Dec
Markets: Bolsa IPC up 0.18% in early trade Fri at 29,951.32 v. Thu close of 29,898.85 - up 0.46% -- Thu range 29,763.37 - 30,122.09
Markets: Peso weaker 0.27% in early trade Fri at 48hr sell rate of 13.3062 v. Thu close of 13.2700 - firmed 0.9% -- Thu range 13.26 - 13.24
08 October 2009
Markets: Bolsa IPC up 0.27% at close Thu at 29,898.85 v. open of 29,817.68 -- range 29,817.68 - 30,122.09
Markets: Peso firmed 0.73% at close Thu at 48hr sell rate of 13.2700 v. open of 13.3670 -- range 13.2591 - 13.3748
Markets: Peso firmed 0.35% in early trade Thu at 48hr sell rate of 13.3490 v. Wed close of 13.3960 - firmed 0.9% -- Wed range 13.38 - 13.24
Markets: Bolsa IPC up 0.61% in early trade Thu at 29,944.24 v. Wed close of 29,763.37 - up 0.25% -- Wed range 29,528.99 - 29,801.70
Banxico: Consumer price inflation +0.50% in Sep to annualized 4.89% v. 5.08% in Aug; core price inflation 0.42% in Sep to 4.92% v. 5.10% Aug
Top Story Universal: Lab: No Feces In Water - Tests by UAM university determine tap water in south Fed District 'fit for human consumption'
Top Story Jornada: SME: Citing Contract Breach, LFC Union To File For Strike - Cites govt refusal to accept union election of Martin Esparza
Top Story Reforma: Secondary Schools Worsen - Nearly all states lose ground in language, math scores in tri-annual nat'l testing
Top Biz Story Reforma: At 'Mexico Summit' Forum, Business Leaders Urge Tax Reform - Blast lack of public spending & high tax burden on few
Top Story Financiero: IMF: Crisis Will Cost Mexico US$222bln - Fall in output in 2009 equal to US$222bln loss, according to IMF forecasts
Top Story Economista: Rectify Budget Proposal: CCE - Main business lobby group asks Congress to modify govt plan, criticizing new taxes
Top Story Cronica: LFC Should Disappear: CCE - Business lobby calls on Congress, govt to dissolve 'inefficient, corrupt' state-owned utility
Top Story Milenio: Opposition Wants 'Happy Budget Accounting' - Opposition asks govt to hike oil export budget price by US$3-US$4 per barrel
Top Story Excelsior: Calderon Insists On Reforms - President warns opposition he will not back down from fiscal reforms in budget proposal
07 October 2009
INEGI: Composite Indicators; Leading Index= 108 (2003=100) Jul vs. 107.8 points in Jun -- +0.19% on month
INEGI: Composite Indicators; Current Index= 97.8 (2003=100) Jul vs. 96.8 points in Jun -- +1.03% on month
Markets: Bolsa IPC down 0.04% in early trade Wed at 29,678.75 v. Tue close of 29,690.48 - up 1.63% -- Tue range 29,214.40 - 29,767.40
Markets: Peso firmed 0.26% in early trade Wed at 48hr sell rate of 13.4818 v. Tue close of 13.5165 - firmed 0.8% -- Tue range 13.45 - 13.24
Editorial Universal: Despite arrival of democracy in presidency, Congress, Mexican unions have yet to start journey to modern democracies
Top Story Universal: Fed District Wants To Hike Water Rates - Currently costs 20 pesos per square meter per home; charges 3 pesos on average
Editorial Jornada: Health Ministry is starting National Vaccination Campaign without sufficient doses for seasonal flu and none for H1N1
Top Story Jornada: Nava Plotted Attack: SME - Electric Workers Union accuses PAN President Cesar Nava of orchestrating govt attack on union
Top Story Reforma: SAT Squeezes...Just 20%! - Of the 43.2mln economically active Mexicans, only 20% pay taxes: Ernst & Young
Top Biz Story Reforma: Budget Proposal Questioned - Economists say raising taxes could hurt recovery, recommend running larger deficit
Top Story Financiero: Governance Key To Reforms - At business forum, top leaders of opinion say: first fix government, then fix policy
Top Story Economista: Now Is Time To Dismantle LFC: Business Group - Powerful Concanaco urges govt to disband Luz y Fuerza del Centro
Top Story Excelsior: PRI: No New Taxes; Yes To Spending Cuts - Party pacts rejection Los Pinos budget proposal as recessive, inflationary
Top Story Cronica: Govt To Intervene If SME Tries Sabotage - Labor Ministry warns Electric Workers Union to seize power stations if needed
Top Story Milenio: Mexico W/Worst Economic Performance In LatAm - GDP to rebound 2.8% in 2010, lowest among major economies in region: EIU
06 October 2009
Markets: Bolsa IPC up 1.59% at close Tue at 29,690.48 v. open of 29,226.46 -- range 29,226.461 - 29,720.199
Markets: Peso firmed 0.01% at close Tue at 48hr sell rate of 13.5165 v. open of 13.5175 -- range 13.4480 - 13.5300
Inegi: Consumer Confidence Index bumps to 81.36 in Sep vs. 80.24 in Aug on seasonally adjusted basis; down from Jul 12-month peak of 85.64
Markets: Bolsa IPC up 1.32% in early trade Tue at 29,601.12 v. Mon close of 29,214.40 - up 1.87% -- Mon range 28,676.67 - 29,235.84
Markets: Peso weaker 0.09% in early trade Tue at 48hr sell rate of 13.6321 v. Mon close of 13.6200 - firmed 0.1% -- Mon range 13.61 - 13.24
Editorial Universal: ENLACE results affirm that Mexico, by neglecting public education, reinforcing inequality and a generation of poverty
Top Story Universal: Public School Quality Plunges - Gap between public, private schools growing, according to national ENLACE tests
Top Story Jornada: Labor Minister Beheads SME - Govt refuses to recognize Martin Esparza as Electric Workers Union head, to annul elections
Top Story Reforma: Final Appeal Rejected - Labor Ministry refuses to recognize election of Martin Esparza as Electric Workers Union leader
Top Biz Story Reforma: Maquila Jobs Return - After 7 months of losses, maquila employment rose by 9k posts in August, says industry group
Top Story Financiero: New Downturn Potential In 2010: World Bank - As fiscal stimuli withdrawn, govt debt weighing, new recession looms
Top Story Economista: Esparza Petition Rejected - Official sanction of Martin Esparza as Electric Workers Union head denied
Top Story Cronica: Labor Ministry Rejects Union Petition - Officially denies leadership papers for Electrical Workers Union head Esparza
Top Story Excelsior: PAN Cedes On 2%, Agrees To Exemptions - PAN lawmakers agrees to exempt basket of basic foods, meds from proposed tax
Top Story Milenio: Govt Will Guarantee Power Supply: Labor Ministry - Prepared to intervene in Luz y Fuerza utility should union strike
05 October 2009
Mexican Institute of Finance Executives (IMEF) sees growth in manufacturing, services industries; declares recession
IMEF: IIEEM Services Index 51.79 points in Sep vs. 51.07 points in Aug - >50 manufacturing generally expanding, <50 contracting
IMEF: IIEEM Manufacturing Index 51.62 points in Sep vs. 51.15 points in Aug - >50 manufacturing generally expanding, <50 contracting
Markets: Peso weaker 0.32% in early trade Mon at 48hr sell rate of 13.6788 v. Fri close of 13.6350 - firmed 0.4% -- Fri range 13.62 - 13.24
Markets: Bolsa IPC up 0.49% in early trade Mon at 28,820.02 v. Fri close of 28,678.66 - up 0.32% -- Fri range 28,063.72 - 28,723.62
Editorial Universal: Trend to devolve federal public services to municipalities ensnared by dearth of municipal-level administrative talent
Top Story Universal: Mexican Economy In LatAm's Basement - Due to links to US, will be most hurt this year; S. America hitched to China
Editorial Jornada: Labor Ministry engaged in campaign to harass Electric Workers Union; systematically attacks labor opposing Los Pinos
Top Story Jornada: Fox Admin, Human Rights Disaster: Soberanes - Nat'l Human Rights Commissioner bashes Fox record, questions Calderon, too
Top Story Reforma: Waste Disposal Caught In Red Tape - With trash piling up Environment Ministry slow to publish new sanitary landfill rules
Top Biz Story Reforma: Auto Decree Relaxed - To retain automakers and attract more, govt will abridge rules to lower output requirements
Top Story Financiero: Global Economic Growth Fragile - Financial systems remains fragile, could lead to a 'W' or 'L' shaped recovery pattern
Top Story Economista: Los Pinos Consolidated Tax Proposal Won't Pass: PRI - Opposition kills plan to end cross-subsidiary fiscal credits
Top Story Milenio: 2% Consumption Tax 'Unnecessary', Say PRI, Private Sector - Both see room for better tax collection, greater austerity
Top Story Cronica: Open Sewage Pits Near To Fed District Water Supply - 'Irregular' settlements on city outskirts contaminate water table
Top Story Excelsior: Exports Not The Panacea: Banxico: Central bank Gov. Ortiz says economic model must shift toward greater domestic demand
04 October 2009
Top Story Universal: Increase In Church Looting - Loss of religious art to bandits continues to rise; UN warns of loss of cultural heritage
Top Story Jornada: Investment, Jobs Would Avoid Social Upheaval - In TV-UNAM documentary, former finance ministers analyze economic policy
Top Story Reforma: Embassies Ride Out Crisis In Luxury - Report from Foreign Affairs Ministry details exorbitant rents for overseas offices
Top Story Cronica: 9 More Students Linked To Fed District Explosions - Feds widen investigation into Sep bombings at banks, businesses
Top Story Milenio: Despite Setback, SME Says No Blackouts - Luz y Fuerza union workers will mount protests this week, but keep lights on
Top Story Excelsior: US Worried Zetas Supplanting Govts - New book by Max Manwaring casts narco gang as private army, new security threat
03 October 2009
Top Story Universal: 6mln In Misery - President says 20mln now live in food poverty, and warns number will grow without dramatic reforms
Editorial Jornada: During Fri march to mark 1968 Tlateloco massacre, 26 arrests by police show repression is on rise at all levels of govt
Top Story Jornada: Factory Sector Slashes Jobs - Since 2000, 1.1mln manufacturing jobs lost due to poor industrial policy: UNAM researcher
Top Story Reforma: Queretaro Axes Tax - New governor surprises by eliminating hefty federal vehicle registration fees starting 2010
Top Biz Story Reforma: Brewers Share Prices Rise - FEMSA's move to sell beer unit to foreign brewer rallies stocks, including rival Modelo
Top Story Cronica: Mexico City Bomber Released - Judge orders release of UAM student accused of bombing six banks; says arrest was illegal
Top Story Milenio: 6mln More Food Poor Than In 2006: Calderon - Mexicans too poor to meet family caloric needs has grown from 14mln to 20mln
Top Story Excelsior: PRI Backs Using Afore Funds - PRI deputies will back bill to use Afore pension funds to invest in public works projects
02 October 2009
Markets: Bolsa IPC up 0.32% at close Fri at 28,678.66 v. open of 28,586.48 -- range 28,063.72 - 28,723.62
Markets: Peso firmed 0.68% at close Fri at 48hr sell rate of 13.6350 v. open of 13.7285 -- range 13.6200 - 13.7363
INEGI: Producer Confidence Index (PCI) 38.29 points in Sep vs. 38.17 points in Aug (>50 manufacturing generally expanding, <50 contracting)
INEGI: Manufacturing Orders Index (IPM) 49.53 points in Sep vs. 47.68 points in Aug (>50 manufacturing generally expanding, <50 contracting)
Markets: Bolsa IPC down 1.74% in early trade Fri at 28,089.57 v. Thu close of 28,588.26 - down 2.20% -- Thu range 28,248.92 - 29,236.58
Markets: Peso weaker 1.15% in early trade Fri at 48hr sell rate of 13.6588 v. Thu close of 13.5035 - firmed 0.3% -- Thu range 13.48 - 13.24
Top Story Universal: Zapotillo Halted - Massive hydraulic dam project halted indefinitely as public bidding process to be investigated
Editorial Jornada: Swearing-in spectacle at DF Legislative Assembly reflects the erosion of faith in electoral institutions, processes
Top Story Jornada: Calderon Goes For MXN125bln In Afore Funds - New bill would permit retirement funds to be used for public works spending
Top Story Reforma: Afore Funds Lined Up For Public Works - Calderon will submit bill to permit use of Afores monies for public investment
Top Biz Story Reforma: SME Announces Strike - Due to labor conflict, Mexican Electrician Union will halt work, march on Los Pinos next week
Top Story Financiero: Dark Panorama For Close Of Year - Although economy has bottomed out, negative growth seen through Q4 at minimum
Top Story Economista: Public Works To Be Financed With Afores - Federal government proposes dipping into Afore funds to supplement works
Top Story Cronica: Fed District Assembly, A Chaotic Circus During Swearing In Of Delegates - After controversy, protests disrupt ceremony
Top Story Excelsior: Afores Could Be Used for Public Works - Los Pinos wants a reform to use privately run pension funds for public works
Top Story Milenio: Calderon Wants To Dip Into Pensions - President proposes letting Afores invest pension funds in public works projects
01 October 2009
New Bank of Mexico economist survey reveals 2009 GDP consensus forecast of -7.18% vs. -7.19% in previous survey; 2.82% in 2010
Bank of Mexico economist survey sees 2009 year-end peso consensus forecast of 13.37 /US$ vs. 13.22 in previous survey; 13.42 in 2010
New Bank of Mexico economist survey reveals 2009 inflation consensus forecast of 4.29% vs. 4.25% in previous survey; 4.28% in 2010
Bank of Mexico survey sees 2009 year-end interest rate consensus forecast of 4.52% vs. 4.47% in previous survey; 5.43% in 2010
Markets: Bolsa IPC down 1.27% in early trade Thu at 28,860.07 v. Wed close of 29,232.24 - down 0.68% -- Wed range 29,213.59 - 29,760.47
Markets: Peso weaker 0.64% in early trade Thu at 48hr sell rate of 13.5900 v. Wed close of 13.5035 - firmed 0.3% -- Wed range 13.48 - 13.24
Editorial Universal: The Federal Electoral Institute mulling idea of proposing independent candidacies; that carries inherent political risk
Top Story Universal: Zapotillo Dam Project In Doubt - 2 bidding groups challenge process, already dogged by social, ecological concerns
Editorial Jornada: New Fed District Human Rights Commissioner Luis Gonzalez must continue CDHDF's record in fighting official corruption
Top Story Jornada: Narco Moves US$40bln In Mexico - Soaring drug profits double the foreign exchange earned from migrant remittances
Top Story Reforma: DF, Health Ministry Clash Over Water - Fed District govt rejects federal report of fecal bacteria presence in H2O supply
Top Biz Story Reforma: Automakers Release Brakes - Ford, GM adding shifts in Mexico as US cash-for-clunkers program revives market there
Top Story Financerio: Banxico Spent US$31bln Defending Peso - Since Oct. 8, 2008, central bank used billions in reserves to buoy peso
Top Story Economista: Cardholders Choose To Pay Down Debt - Credit card spending continues to plunge as consumers opting to pay off plastic
Top Story Excelsior: New Home Sales Crash 40% - New housing market reduced 40% nationally by higher joblessness, tighter credit conditions