These words of José de la Cruz Porfirio Díaz Mexican general and politician who served seven terms as President of Mexico between 1930 and 1915, fit pretty well now that Mexico is being threatened by more US trade protectionism.
María Fernanda Tapia Cortés | Mexico starts 2017 with two trending topics: the announcement of new gasoline prices and protests inspired by the adjustment period in the form of a 20% price hike. While Mexicans are filled with outrage, moguls anticipate the potential earnings that this represents. The question is: Who will the energy reform benefit?
AXA IM | Mexico, together with China, appears to be the country most exposed to Trump’s economic policy given its vicinity and close trade relations with the US. The Mexican peso has depreciated by 10% relative to its pre-election day closing level, the stock market is down 6% and the local currency sovereign 10-year rate has shot up by 112bps.
Mexico’s Banking and Securities regulator (CNBV) has exonerated OHL Mexico from any evidence of fraud in its accounting practices, accepting the way the firm accounts for expected earnings from its motorway concessions in Mexico.
LONDON| By UBS analysts | Mexico is the eleventh largest country in the world by population. Yet, when it comes to energy infrastructure and consumption per capita, it ranks poorly especially compared to developed, western regions. The energy policy recently introduced provides a major capex opportunity: about €100bn over the coming ten years. Estimates for EU utilities reach investments of €18bn, which would allow for a potential net income increase of €1.1bn. In this context, most of the companies eyeing the region are from Southern Europe, with Enel and Iberdrola remaining as the sector top picks.
MEXICO CITY | By David Brunat | It’s crystal clear: the automotive industry is going to drive the Mexican economy soon, says the country’s Automotive Industry Association AMIA, who predicts that in 5 years they will be producing 4 million units -and replace Japan as the second-largest exporter of cars to the United States.
MEXICO CITY | By David Brunat | Mexican government is ready to invest more than $3bn in Michoacan state, which has been rampaged by extortion and assassination in the last years. It has been the raise in arms by civil self-defense forces the fact that has driven Federal authorities to search for a solution. But is it money the recipe to tackle violence?
MEXICO CITY | By David Brunat | It is possible to be one of the world’s major emerging markets, a country called to deeply influence the global economy in the next decades, and at the same time be seen by your own people as a very unreliable nation business and invest wise. This is Mexico, the internally less trusted country in the whole OECD.
MEXICO CITY | By David Brunat | Mexico is broadly considered as one of the most promising emerging markets. A member of the so-called MIST countries (Mexico, Indonesia, South Korea and Turkey), a group of economies that are soon to equal the BRICS’ influence, according to Goldman Sachs. However, Mexico still has to face several internal threats if it wants to fulfil the forecasts. Along with high-scale corruption, the North American country must solve the huge problem that crime gangs pose to economic development.
WASHINGTON | By Pablo Pardo | In 2012, 70 companies drilled 134 deepwater wells in the US side of the Gulf of Mexico. On the Mexican side, only one company drilled 6 wells: Pemex. The disparity is one of the reasons explaining why Mexico’s oil production has fallen from 3.5 million bpd in 2005 to 2.5 now. According to the US Geological Survey, the Mexican part of the Gulf of Mexico is, after the Arctic, the largest unexplored oil region in the world.