Reuters – Mexico’s coming budget is likely to see a lower “adjustment” to public finances than in the previous budgets, finance minister Jose Antonio Meade said on Tuesday. Mexico has made sizeable cuts to the budget in the past couple of years in a bid to tighten up public finances.
PRI – Despite the frequent use as of their images as cultural symbols, the voices of Mexico’s estimated 25.6 million indigenous people are largely absent from their nation’s mainstream political life. Mexico’s first indigenous woman presidential candidate, Maria de Jesus Patricio Martinez, is working to change that. Upon being selected by the Mexican Indigenous Governance Council (CIG) and the ELZN (the Zapatista National Liberation Army) as their candidate for the 2018 election, she has made history.
WSJ – Mexico awarded 10 blocks of oil and gas for exploration and development to bidders from 10 different countries, including some of the world’s major oil companies, at an auction in the capital Monday.
Bloomberg -The rise of a hostile U.S. president sent stocks, bonds and the peso reeling. That was then. There’s now reason to think that the Trump effect on Mexican markets might be about to run its course.
AZPM -Numbers released on Arizona’s trade relationship with Mexico are causing concern in the business community. But economists say it is too soon to know for sure if Arizona’s trade relationship with Mexico is in trouble. The annual report from the University of Arizona shows Arizona’s exports to Mexico fell by more than 9 percent from one year to the next.
KPBS – Tijuana’s police chief said the U.S. should take responsibility for its role in Mexico’s rising violence, which he links to U.S. gun smuggling and lax gun laws. U.S. statistics show 70 percent of weapons seized at crime scenes in Mexico were traced to the U.S., particularly to the border states of California, Texas, New Mexico and Arizona.
The Conversation – Mexico has struggled with corruption for a long, long time, but recent events indicate that the situation is now at a truly intolerable pitch. This spring, two fugitive state governors were arrested in a joint operation by Interpol and the Mexican police.
CNN – General Motors plans to bring about 600 jobs back from Mexico to a new industrial park it is building in Texas. The facility in Arlington should be ready by 2018. It will employ 1,250 people working for companies that supply parts for GM — some of whom already work in the area. About half of the workers will do work that is now done in Mexico, the company said.
Reuters – Mexican private spending rose 0.7 percent during the first quarter compared to the previous three-month period. Private spending was 3.1 percent higher than during the same period a year earlier. Aggregate demand increased 2.0 percent from the previous quarter, and was up 4.0 percent from the same quarter in 2016.
By Kinsey Grant / The Street
Mexican imports of U.S. soybean meal dropped 15 percent, chicken 11 percent and corn 6 percent in the first four months of 2017 amid friction between the two neighboring countries over NAFTA.
Soybean meal exports decreased for the first time in four years and chicken exports marked the biggest decline since 2003. Mexico is U.S. farmers’ largest export market for soybean meal, chicken and corn.
The decreasing figures illustrate Mexico’s move to reduce its reliance on the U.S. for commodities as President Trump looks to renegotiate NAFTA. This comes as U.S. farmers deal with low commodity prices and excess supply.
Raul Urteaga Trani, head of international affairs for Mexico’s Secretariat of Agriculture, led a group of Mexican business leaders to South America to explore trade of soybeans, corn and wheat.
“We have to send a signal to policymakers in Washington, and emphasize that we are not sitting still,” Trani said.
CNN – If there’s one thing better than guaranteed sunshine and blue skies on your next vacation, it’s the knowledge that there will be no nasty surprises come check-out time. All-inclusive vacations mean that one price fits all, covering almost everything, save those optional extras or upgrades. Mexico and the Caribbean boast countless options to kick back and relax, so here are some of the best options when it comes to staying in style — but also on budget.
The Hill – The U.S. sugar industry has announced support for a tweaked trade deal with Mexico after initially opposing the long-awaited agreement. The American Sugar Alliance, which represents sugar farmers and producers, told the Commerce Department that it will back the “tightened” deal aimed at bringing Mexico’s sugar industry into compliance with U.S. law.
Times Record News – Texas’ largest business associations are forming a coalition to protect and foster trade opportunities between the United States and Mexico amid a renegotiation of the North American Free Trade Agreement spearheaded by the Trump administration.
Remezcla – As if FIFA and the Mexican fanbase weren’t at odds already, the Confederations Cup might be the tipping towards unadulterated animosity. Reports this week confirm that the tournament, held in Russia, will play host to a new FIFA three-step program towards shutting down homophobic and offensive chants, a category the infamous “puto” falls into for the world soccer organization.
Express – A strong 6.9 magnitude tremor struck eight kilometres southwest of Tajumulco, Guatemala. The tremor has caused five fatalities, with reports also suggesting that a further seven have been severely injured by the quake.
Bloomberg – Telepizza Group is preparing to open its first outlet in Mexico as the Spanish pizza delivery company steps up efforts to diversify its business by developing what could become its second-biggest market.
CNBC – If you think the glass ceiling for women in tech is tough in the United States, take a look at the challenges they face in Mexico, Latin America and other developing countries. For many the obstacles may seem insurmountable, but not for Blanca Trevino, the co-founder, president and CEO of Softtek, a Mexican unicorn that is the largest IT vendor in Latin America.
Oil Price – Mexican state oil firm Pemex expected to restart on Thursday its Salina Cruz refinery, Mexico’s biggest, once a massive fire that killed one person and injured 9 others is fully extinguished, a spokesperson for Pemex told Reuters.
VOA – Mexico’s ancient civilizations cultivated crops such as maize, tomatoes and chilies for thousands of years before the Spanish conquerors arrived — and now those native plants could hold the key to sustainable food production as climate change bites, said leading ecologist José Sarukhán Kermez.
Goal – While Javier “Chicharito” Hernandez will go down as one of his country’s greats because of his success not only with the national team but also at the club level with Manchester United, Real Madrid and now Bayer Leverkusen, his legacy is not sealed. The striker has plenty of important goals among the 47 he has netted for El Tri, but Chicharito has struggled to find the net when they’ve needed him most, leaving the responsibility of scoring in big matches to other players.