XINHUA Retail sales in Mexico rose 7.8 percent in June compared to May, the National Institute of Statistics and Geography (Inegi) reported on Friday, Aug. 21. Sales of wholesale products grew by 11.1 percent in June, their first positive result in three months. The deputy governor of the Bank of Mexico, Jonathan Heath, explained that the figures released by the
Read more
By RICARDO CASTILLO The Return of the Swaps The U.S. Federal Reserve (Fed) struck a deal with eight national central banks, including the Banco de México (Banxico), to back up dollar-denominated loans in global markets in an attempt to stabilize the exchange market, now under stiff pressure from the Covid19 pandemic. Banxico issued a press release explaining: “The swap mechanism
Read more
By RICARDO CASTILLO Covid-19, Imported From Italy Mexican Public Health Undersecretary Hugo López-Gatell informed the public on Sunday, March 1, that there are now five confirmed cases of Covid-19 (also known as novel coronavirus), plus 11 suspected cases. Hence, he said, the nation is not in a state of emergency. López-Gatell said that the outbreak of the virus in Mexico
Read more
By RICARDO CASTILLO Indigenous Design Rights International fashion design houses Louis Vuitton and Pineda Covalín are now in negotiations with the Mexican government to pay intellectual and creative rights to the country’s indigenous people after having copied some of their original designs without paying the corresponding copyrights. Legislative changes in Mexico, said Senator Susana Harp, include placing the indigenous communities
Read more
By THÉRÈSE MARGOLIS It’s been the financial lifesaver that has kept the Mexican economy afloat ever since leftist firebrand Andrés Manuel López Obrador (AMLO) took office as president in December 2018. The carry trade, a financial venture in which entrepreneurs borrow money in one country where interest rates are low to invest in second country where interest rates are high,
Read more
XINHUA Mexico’s economy continues to face risks that dampen its growth outlook, but there is the chance of a modest economic recovery in 2020, the central Bank of Mexico (Banxico) said in a press release. According to the details of the latest meeting of the bank’s five-member governing board, “the majority of the members indicated that in an environment marked
Read more
XINHUA … Banxico has downgraded its economic growth forecast for 2019 and 2020, citing weak production and uncertainty…
Read more
XINHUA … Mexico’s labor market is facing a bleak outlook over the next few years as the economy shows no signs of recovery from slow growth…
Read more
By RICARDO CASTILLO … The Mexican president’s annual State of the Nation Address had few surprises and little new information, but was eloquently presented…
Read more
By THE PULSE NEWS MEXICO STAFF Despite the fact that Mexican President Andrés Manuel López Obrador (AMLO) promised that inflation would be kept at a maximum of 3.4 percent rate in 2019, overall price increases for the first half of March shot up to 3.95 percent, according to the National Consumer Price Index (INCO), a subdivision of the National Institute
Read more