By JUAN DE JESÚS BREENE One of the first topics in most high school world geography classes is, “Why are some countries rich while other countries are poor?” The answer is a relatively simple one: a combination of its level of corruption, its geography, climate, whether it is landlocked, security of property rights, economic flow and, one of the most
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By THÉRÈSE MARGOLIS Telcel, Mexico’s largest wireless telecommunication service, became the first company in the country to launch the new, super-fast fifth generation (5G) network on Tuesday, Feb. 22. A subsidiary of América Móvil, the massive telecommunications corporation owned by Mexican billionaire Carlos Slim, Telcel will now offer 5G to all its fixed plan clients who have contracts valued at
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By THE PULSE NEWS MEXICO STAFF Mexico’s Tax Administration Service (SAT) seems to have overharvested its big-corporation settlement program, leaving the Andrés Manuel López Obrador’s (AMLO) administration’s proverbial goose-that-lays-the-golden-egg revenue source quite literally overtaxed. According to figures from the Finance Secretariat (Hacienda), in the first 10 months of this year, the SAT collected just 148 billion pesos from audits of
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By RICARDO CASTILLO Jalisco Skids Deeper in Debt As pressure grows on Mexican President Andrés Manuel López Obrador (AMLO) “to make use” of credits available from international funding organizations, the president becomes more adamant and intrinsic about pushing the nation into further debt. Much of that pressure is coming from opposition state governors, who convened last week in Parras, Coahuila,
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By RICARDO CASTILLO Happy Birthday, Carlos Slim Just as Mexico’s and Latin America’s wealthiest man, Carlos Slim, was gearing up to celebrate his 80th birthday on Tuesday, Jan. 28, the Federal Telecommunications Institute (IFT) delivered a special gift that surely the tycoon did not appreciate: a fine for nearly 1.39 billion pesos. The fine applied directly to mismanagement of accounting
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