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With tiny pensions, Mexican seniors work for tips MEXICO CITY: Prudencio Diaz, a 66-year-old one-armed retiree, stuffs groceries into bags at a Mexico City supermarket, working as a "volunteer" for tips to complement his miserly pension.Diaz is among 22,000 seniors who toil at the end of checkout lanes across Mexico, wearing aprons and hoping generous customers will hand them a few pesos for their efforts.The retired mechanic gets the minimum pension of 1,200 pesos ($80) per month, a bit more than half the minimum wage."My pension is not enough. I have no problem being a volunteer packer," the former boxer said with a smile, exposing some missing teeth.Making between $10-$20 per day in tips, Diaz can earn the equivalent of his monthly pension in a week of packing groceries.Only a quarter of the 11 million senior citizens in Mexico -- Latin America's second-biggest economy -- receive a pension.Many do not get any retirement benefits in their less than ...

US jury orders Chrysler to pay $150mn over boy's death WASHINGTON: A US jury ordered automaker Chrysler on Thursday to pay $150 million to the family of a four-year-old boy who was killed when their Jeep exploded into flames, the Wall Street Journal reported.Remington Walden was killed in March 2012 in the US state of Georgia when a car rear-ended the Jeep Grand Cherokee he was in, causing the fuel tank behind the car's rear axle to leak and set the car on fire. The ...
Obama authorizes sanctions to combat cyberattacks WASHINGTON: President Barack Obama on Wednesday authorized imposing economic sanctions on US and foreign hackers, allowing the government to block that assets of persons involved in cyber attacks on US targets."Cyber threats pose one of the most serious economic and national security challenges to the United States, and my administration is pursuing a comprehensive strategy to confront them," Obama said as he issued the executive order.Copyright AFP (Agence France-Presse), 2015 ...
Obama commends Nigerian leaders, urges peaceful transition WASHINGTON: US President Barack Obama on Wednesday commended Nigerian President-elect Muhammadu Buhari and current President Goodluck Jonathan following the African nation's first democratic transfer of power, and he praised the country's commitment to democracy."I urge President-Elect Buhari and President Jonathan to repeat their calls to their supporters to continue to respect the election outcomes, focus on unifying the country, and together lead Nigeria through a peaceful transition," Obama said in a statement.Copyright Reuters, 2015 ...
Death toll in Mexico tanker blast rises to 14 MEXICO CITY: The death toll from a tanker truck explosion in Mexico rose to 14 on Tuesday, almost a week after it blew up as a group of people tried to steal its fuel.After the truck hit some trees in the southern state of Tabasco on Thursday, local people near the town of Huimanguillo tried to take its contents, despite warnings from authorities to leave the area.The explosion killed two people on the spot, while ...
Obama confers with national security team WASHINGTON: US President Barack Obama conferred with key national security advisors on Tuesday about nuclear talks with Iran, amid suggestions a deal may be at hand."Tonight, the president convened a secure video teleconference with members of his national security team," said National Security Council spokeswoman Bernadette Meehan.Obama was briefed on ongoing talks in Switzerland by Secretary of State John Kerry and Secretary of Energy Ernest Moniz.Russia and Iran's foreign ministers claimed a breakthrough in talks ...
US ready to accept China-led infrastructure bank: Lew WASHINGTON: US Treasury Secretary Jacob Lew said on Tuesday that Washington was "ready to welcome" the China-led Asian Infrastructure Investment Bank, easing toward the new development institution after the US expressed early concerns.Lew said in a San Francisco speech just after a trip to Beijing that the United States would embrace any new international development bank providing it "complements" existing institutions like the World Bank and International Monetary Fund.He also stressed that new institutions needed ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln