Institutional Revolutionary Party News
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Mexico President Enrique Pena Nieto’s reform agenda that includes legislation to end the monopoly of state-owned Petroleos Mexicanos faces delays due to a shake-up in the former ruling party’s leadership.
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Mexico’s three biggest parties joined with President Enrique Pena Nieto to present a bill to spur bank lending and faster growth in an economy where credit availability lags the rest of Latin America.
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Mexican President Enrique Pena Nieto hopes to use U.S. President Barack Obama’s visit to affirm one crucial theme: that his country is much more than the sum of its problems. During a whirlwind first 100 days, he has already pushed through significant reforms to strengthen Mexico’s notoriously mediocre educational system and to deliver Mexicans from costly and oppressive monopolies.
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Arturo Sandoval, a 25-year-old homeowner in one of Mexico’s low-income developments outside the capital, commutes two hours each way to his job at a Mexico City soap factory.
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Mexico needs to change the constitution to open the energy industry to more private investment, a proposal likely to be debated in the second half, according to the top lawmaker on the Senate’s energy committee.
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Mexico’s National Action Party supports a possible constitutional change to open the state- controlled oil industry to more private investment and will work with other parties to pass such legislation, according to the PAN’s top senator on the energy commission.
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The largest party in Mexico’s lower house aims to eliminate loopholes that allow businesses to claim tax exemptions that lawmakers say are equivalent to 4 percent of gross domestic product, congressman Sebastian Lerdo said.
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Mexico’s lower house will vote “very soon” on a bill to change the social security system, lawmaker Manlio Fabio Beltrones said, probably increasing costs for businesses.
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Mexico’s peso rallied the most in a week as the Senate prepared to debate a bill designed to boost competition in the telecommunications industry, fueling optimism about the outlook for foreign investment.
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Mexican lawmakers announced legislation yesterday that threatens to rein in the country’s telecommunications monopolies, raising the possibility of a Ma Bell-style breakup for Carlos Slim’s dominant America Movil SAB.
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