PULSE NEWS MEXICO Mexico’s Energy Regulatory Commission (CRE) on Friday, May 27, fined Iberdrola Energía Monterrey an exuberant amount of 9,145,388,400 pesos for the sale of energy to customers that were not original partners in its self-supply permit. When Iberdrola opened the plant in question, its total investment was 9 billion pesos, that is 145,388,400 less than the fine imposed
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By THÉRÈSE MARGOLIS The Pandora Papers, which were released on Sunday, Oct. 3, by the International Consortium of Investigative Journalists (ICIJ), exposing the offshore financial havens and hidden riches of some of the world’s biggest movers and shakers, has opened a whole new can of worms for the leftist National Regeneration Movement (Morena) party of Mexican President Andrés Manuel López
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By THE PULSE NEWS MEXICO STAFF In an effort to increase the government’s already-tight control on private bank account movements, Mexico’s new 2022 Income Law, promoted by the Secretariat of the Treasury (SAT), would require banks and other financial institutions to provide monthly reports, instead of the current annual reports, on all cash deposits received by account holders amounting to
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By THE PULSE NEWS MEXICO STAFF Mexico’s Tax Administration Service (SAT) is out to squeeze taxpayers and increase its collections through a plan to conduct more audits of potentially delinquent contributors, according to a report published in Reforma newspaper on Thursday, May 6. At the end of the first quarter, the SAT collected 112 billion pesos through audits or reviews
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By RICARDO CASTILLO Let the fireworks light up the cloudy Mexican economics sky. The great news deserves the glow in the heavens. The economy grew in the second quarter of 2019 by 0.1 percent and, according to the National Institute of Geography and Statistics (Inegi), which carries out the official econometrics gaging, “there is no recession.” The news was made
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By RICARDO CASTILLO The word “recession” currently seems to be striking terror in the heart of most Mexicans. And given the humongous volume of antagonism President Andrés López Obrador (AMLO) is confronting, the word is even more threatening to his opponents. Not only that, AMLO is fighting a war of economic terminology in which the truth is in the voice
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The Long Arm of Mexico’s Treasury Secretariat
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By RICARDO CASTILLO There’s no question about it: Mexico’s once-prolific cash cow has run dry. The country’s economic national pride, the state-run oil giant Petróleos Mexicanos (Pemex), is now in financial straits, with its latest corporate report showing that just in the last quarter of 2018, it “lost” over 2 billion pesos. That definitely makes Pemex the only oil company
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Photo: aerogroup.com
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By THE PULSE NEWS MEXICO STAFF After nearly 12 hours of blocking access to Mexico’s San Lázaro Legislative Palace, which houses the nation’s lower House of Deputies, a group of several hundred campesinos (rural workers) protesting the new government’s slashing of funding for the Rural Development Secretariat finally allowed federal deputies to leave the premises at about 8 p.m. on
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