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Sep 5, 2013

Analysis: Mexico’s president lines up reform blitz, legacy at stake

MEXICO CITY (Reuters) – Mexico’s Enrique Pena Nieto has only been in charge nine months, but the success of his presidency depends largely on how he steers divisive economic reforms through Congress with the opposition by the end of this year.

Pena Nieto is targeting economic growth of some 6 percent a year – up from an average of barely 2 percent since 2000 – via a number of key reforms: opening up the oil industry to foreign investors, boosting tax revenues, fomenting competition in major industries and overhauling a broken education system.

Sep 5, 2013

Mexico’s president lines up reform blitz, legacy at stake

MEXICO CITY, Sept 5 (Reuters) – Mexico’s Enrique Pena Nieto
has only been in charge nine months, but the success of his
presidency depends largely on how he steers divisive economic
reforms through Congress with the opposition by the end of this
year.

Pena Nieto is targeting economic growth of some 6 percent a
year – up from an average of barely 2 percent since 2000 – via a
number of key reforms: opening up the oil industry to foreign
investors, boosting tax revenues, fomenting competition in major
industries and overhauling a broken education system.

Sep 4, 2013

Mexico tax overhaul to shield poor from food, medicine hikes: lawmakers

MEXICO CITY (Reuters) – Mexico’s government is poised to break a taboo and tax some foods and medicine under an tax overhaul proposal but will take measures that shield the country’s poorest, ruling party lawmakers said on Tuesday.

The bill will also very likely propose raising the top income tax rate for the wealthiest to as much as 40 percent from 30 percent, several officials from President Enrique Pena Nieto’s Institutional Revolutionary Party (PRI) said on condition of anonymity.

Aug 26, 2013

Mexico moving to grow trade ties with Asia

PLAYA DEL CARMEN, Mexico (Reuters) – Asia could become twice as important to Mexico as an export market over the next five years as the country strengthens trade ties with the fast-growing economies of the region, Mexican Economy Minister Ildefonso Guajardo said on Monday.

Latin America’s biggest exporter is working to diversify its trade to reduce its dependence on the U.S. market, which takes in more than three quarters of Mexico’s exports.

Aug 23, 2013

Protesting Mexican teachers stir trouble for government reforms

MEXICO CITY (Reuters) – Schoolteachers in Mexico City staging disruptive protests against education reform have fired a warning shot at President Enrique Pena Nieto’s government as it prepares to push an ambitious economic agenda through Congress.

On Friday, thousands of teachers held up traffic bound for Mexico’s main international airport a day after federal lawmakers were forced to meet in a convention center next to a race course when the demonstrators blocked access to Congress.

Jul 27, 2013

Breaking taboo, Mexico government aims to tax food, medicine

MEXICO CITY (Reuters) – Mexico plans to boost its tax coffers by an extra $50 billion a year with an overhaul that aims to extend sales tax coverage, close tax loopholes and could impose charges on capital gains.

Saddled with one of the weakest tax takes in Latin America, President Enrique Pena Nieto will present Congress with a plan by September to substantially improve revenues, including divisive measures to apply value added tax (VAT) to some foods and medicines, according to several people familiar with the plans.

Jul 25, 2013

Analysis: Mexico to rewrite ‘sacred’ text in long-awaited energy reform

MEXICO CITY (Reuters) – How far Mexico goes to overhaul its oil industry this year hinges largely on a single sentence in the constitution that has stood as a bulwark against private capital for more than 50 years.

Article 27 of the constitution bans the government from granting private sector concessions for oil or gas, making their exploitation the sole preserve of the Mexican state.

Jul 25, 2013

Mexico to rewrite ‘sacred’ text in long-awaited energy reform

MEXICO CITY, July 25 (Reuters) – How far Mexico goes to
overhaul its oil industry this year hinges largely on a single
sentence in the constitution that has stood as a bulwark against
private capital for more than 50 years.

Article 27 of the constitution bans the government from
granting private sector concessions for oil or gas, making their
exploitation the sole preserve of the Mexican state.

Jul 16, 2013

Analysis: Drug kingpin’s capture spurs hope Mexico can subdue violent cartels

MEXICO CITY (Reuters) – The dramatic capture of the boss of the Zetas drug cartel provides fresh evidence that Mexican authorities are starting to win their protracted fight against a gang that has done more than any other to stain the country’s name with its brutality.

But even with Miguel Angel Trevino now in custody, Mexican President Enrique Pena Nieto still has the difficult task of taming other cartels even as he creates a new militarized police force to take over the fight waged for years by the military.

Jul 16, 2013

Mexico captures leader of brutal Zetas drug cartel

MEXICO CITY (Reuters) – The Mexican government said on Monday it captured the violent leader of the Zetas drug cartel in an early-morning raid, marking the biggest victory for President Enrique Pena Nieto in his fight against gang-led bloodshed.

Marines arrested Miguel Angel Trevino after intercepting his pick-up truck with a helicopter a few miles (km) from his home town of Nuevo Laredo on the U.S. border, government spokesman Eduardo Sanchez told reporters.