Mexican President Enrique Pena Nieto said he’s negotiating support to break the state monopoly over oil and gas exploration and production this year to accelerate economic growth. The peso pared its loss.
Mexican and Canadian stocks are returning the least in 14 years versus the Standard & Poor’s 500 Index, a break from a history of matching or beating the benchmark gauge since the countries formed a free-trade agreement in 1994.
The European Union will back Mexico’s Herminio Blanco over Brazil’s Roberto Azevedo to become the next head of the World Trade Organization, Bloomberg BNA reported, citing officials following the process.
Not so long ago, if you believe what you read in the papers and see on TV, Mexico was the next Afghanistan. It was poor, lawless, and plagued by drug violence, a failed-state-in-the-making whose problems and people would soon cascade over the border.
SunEdison, the solar energy development unit of MEMC Electronic Materials Inc., received a $35 million loan from the North American Development Bank to build a project at a U.S. Air Force base in Arizona.