Plastics News – Seven factors will affect Mexico’s plastics industry either positively or negatively in 2015, according to a consultant Eduardo de la Tijera Coeto.
Sentido Comun – Mexico’s international reserves last week reached a new record of $193.08 billion after rising by $43 million compared to the previous week.
Sentido Comun – Oil extended its fall to below $50 per barrel due to speculation that crude inventories will continue increase, thereby pushing prices to the lowest level since April 2009.
By Katherine Corcoran / Associated Press
As he heads to Washington on Monday to meet with Barack Obama, Enrique Pena Nieto leaves behind a year that was hardly what he had envisioned.
The Mexican president and his team started 2014 carrying out a slew of newly passed reforms, from breaking up telecommunications monopolies to opening the nation’s energy sector, earning him international plaudits, including a Time magazine cover with his image above the caption “Saving Mexico.”
Then came a 1-2-3 punch of scandals: Soldiers killing 22 civilians in a questionable “shootout”; the abduction and presumed murder of 43 college students, allegedly at the hands of local officials and police in league with a drug cartel; and revelations that Pena Nieto and his treasury secretary live in luxury homes built and financed by a favorite government contractor.
Pena Nieto’s meeting with Obama at the White House on Tuesday comes amid what was supposed to be “Mexico’s moment,” a new era of transparency and reform.
Notimex – The funding provided to commercial banks grew by 2.4 percent in real terms in November 2014 compared with the same period last year, the Bank of Mexico reported.
Azteca Noticias – The Mexican economy will close the year with greater dynamism, which will continue during 2015, said the Secretariat of Finance and Public Credit ( SHCP ).
WSJ – Mexico ran up a $1.08 billion trade deficit in November as a drop in crude oil prices led to a deficit in petroleum products, offset by continued growth in exports of manufactured goods.
Reuters – Mexican annual inflation unexpectedly ticked higher in the first half of December as a weaker peso threatens to push up consumer prices in Latin America’s second biggest economy.
Reuters – Mexico said it plans to auction high-speed mobile phone spectrum in 2015 for the first time in five years as the government seeks to ramp up competition in a sector long dominated by tycoon Carlos Slim.
El Siglo de Torreon – Basic goods could increase 10.4 percent over the next two months due to the increase of the dollar, said the president of the Asociación Mexicana para un Comercio Justo.
WSJ – The Mexican minimum-wage commission determined to raise the country’s daily minimum wage by 4.2 percent—in line with current inflation—to about 70 pesos a day, less than $5 at current exchange rates.