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Mexico Senate set to implement historic oil reform MEXICO CITY: Mexico's Senate debated on Wednesday the final piece of legislation to implement a historic energy reform that will open the state-controlled sector to foreign investment for the first time since 1938.The upper chamber of Congress was set to vote on the enabling laws that will break the monopoly held by state-run energy giant Pemex since foreign companies were kicked out of Mexico 75 years ago.It is the showpiece legislation of President Enrique Pena Nieto's reform drive aimed at breathing new life into Latin America's second biggest economy.Pena Nieto argues that the legislation will boost growth, create jobs and reverse declining oil production.But the leftist opposition says the reform amounts to a damaging privatization of Pemex, the country's main source of tax revenue and a symbol of national sovereignty.The constitutional reform was approved in December with the backing of Pena Nieto's centrist Institutional Revolutionary Party (PRI) and the conservative ...

Venezuelan minister repeats pledge to raise domestic fuel prices CARACAS: Venezuela will raise gasoline prices, the country's oil minister told reporters on Tuesday, repeating a government promise to increase the world's lowest fuel prices for the first time in two decades.Oil Minister Rafael Ramirez did not give a timeline for the increase, but said it would not be comparable to international prices.According to government figures, cheap fuel costs the gasoline subsidiary of state-run oil company PDVSA $12.5 billion in losses annually.Efforts to raise the ...
Mexican journalist son killed in attack MEXICO CITY: A radio journalist's 12-year-old son was killed in central Mexico when masked gunmen opened fire on his car as they arrived home, a media rights group said Tuesday.The August 1 attack took place as Indalecio Benitez Mondrago was in his car with his wife and three children near the home, which houses his community radio station, Reporters Without Borders said.The gunmen were coming out of the house when they ordered the car to ...
Peru court orders mining firm to pay $163 million LIMA: Pervuian mining concern Doe Run must pay $163 million for failing to take sufficient environmental measures at its site in La Oraya, the country's high court announced Saturday.Doe Run Peru also produces lead, copper and other metals that create large amounts of polluting byproducts.Its contract, which the Peru high court says the company failed to honor, requires that it take stringent preventive measures to safeguard the environment in the area. The government sued Doe ...
Mavericks owner rips IOC after injury: report DALLAS: Dallas Mavericks owner Mark Cuban blasted the International Olympic Committee (IOC) in the wake of NBA star Paul George suffering a broken right leg playing for the US national team.Cuban told ESPN he sees the IOC as reaping all the profits while clubs take all of the risks when it comes to athlete injuries."The greatest trick ever played was the IOC convincing the world that the Olympics were about patriotism and national pride instead ...
Brazil police launch probe as shooting video emerges RIO DE JANEIRO: Brazilian police have launched a probe following the release of a video purportedly showing elite officers shooting a man who had apparently turned himself in.The footage, published Saturday by the magazine Extra, allegedly documents an incident on May 23 during an operation in the west of Rio de Janeiro.Police said the officers in question would be brought to justice if the scenes prove to be true.The video purportedly shows two officers from ...
US judge orders new talks on Argentina debt dispute NEW YORK: The US judge presiding over Argentina's bitter dispute with hedge-fund creditors ordered the two sides to hold new negotiations and called for an end to "mistrust" at a hearing Friday in New York.Argentina needs to strike a deal with the two US hedge funds, whose legal battle against its debt restructuring has blocked it from paying bondholders who agreed to take a 70-percent write-down after the country's 2001 economic crisis.It missed a $539 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln