By Kevin Baxter

Mexico’s hopes for a second consecutive Gold Cup soccer title took a major hit Thursday — and it had nothing to do with what happened on the field in Charlotte, N.C., where El Tri dismantled Cuba, 5-0, on two goals each from Giovani Dos Santos and Javier Hernandez and another by Aldo De Nigris, becoming the first team to qualify for the tournament quarterfinals.

Mexico suspends five players, then beats Cuba, 5-0 ‎ [LINK]

The Mexican giant Telmex telephone of which is majority controlled by tycoon Carlos Slim said on Thursday that the telecommunications regulator ordered Telmex to reduce its interconnection rates in rural areas, where it is the only fixed carrier .

Telmex (TELMEXL.MX: Quote ), which is about 80 percent of the fixed telephony market in Mexico, will have to cut the rate charged per minute in those areas only 75 centavos to 4 centavos immediately said The Federal Communications Commission (Cofetel) in a statement. (more…)

Mexico hopes to reduce by 8% its imports of gasoline between 2012 and 2016, said Thursday the CEO of state oil company Pemex, Juan José Suárez. (more…)

Belize, Bolivia, Honduras, Guatemala, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Uruguay, Colombia and Venezuela are in favor of the governor of Banxico to head the IMF.

Governor for Banco de Mexico “Augustine Carstens” has support from 12 countries from Latin America to occupy the Directorate General of International Monetary Fund. (more…)

Vehicle production in Mexico rose by 19.4% in May from the same month last year, while exports increased by 21.3% to record highs, said Wednesday the Mexican Association of Automotive Industry (AMIA).
(more…)

Mexico has boosted reserves to a record $127.9 billion in the week ending May 27, Mexico’s central bank said last week in an e-mailed statement.

Mexico is boosting foreign reserves and limiting how much money banks can lend to their parent companies abroad or at home as part of the effort to protect the economy from the European debt crisis and the slowing U.S. growth. (more…)

During an interview with the Financial Times, Agustin Carstens, Mexico’s central bank governor has accused European countries of foul play with regard to the process to elect a new Managing Director of the International Monetary Fund (IMF). (more…)

Mexico’s Cardinal “Norberto Rivera Carrera” reveal that a cousin of his, a school teacher of 40 years was arrested with 39 kilos of marijuana in the truck of her car. He called for the “application of the law without exception” in a statement released Monday. (more…)

Mexico crushes El Salvador as Chicharito nets a hat trick in Gold Cup opener.

After a slow first half, Mexico came alive after halftime and put in five goals against El Salvador at Cowboys Stadium. Chicharito recorded a hat trick. (more…)

In May, Consumer Confidence Index (ICC) showed a increase of 5.5% over the same month last year, going from 84.6 points 89.3 pointsDerived from growth in its five components, according to the National Institute of Statistics and Geography (INEGI).

The indicator on the economic status of household members at the present time in May 2011 stood at 93.1 points, a figure 6.6% higher than 87.3 points in the same month last year. (more…)

The main indicator of the Bolsa Mexicana de Valores (BMV), recorded a decline of 110.25 points (0.31%) during the first movements of the session to settle at 35,306 units.

Weak job numbers in the U.S to blame , The number of jobs created by the United States economy fell in May and the unemployment rate rose to 9.1%, while inflation eroded wages, deepening challenges facing the government of President Barack Obama and his campaign for reelection. (more…)

The Catholic Church called the proposal to decriminalize marijuana  ridiculous and said the issue of drugs is global and should be solved by all countries.

The Mexican Bishops’ Conference (CEM) supports the fight against organized crime made by the President Felipe Calderon, even though it does not like the blood that it has cost. (more…)

On the Day of Police, President Calderon called on young people to see public service and the police forces as place for their future.

“Only together can ensure that the police cease to be and look like a discredited occupation and make it what it should be, an honorable profession that enjoys the respect of people, a true civic duty who are even risking their lives in service others, “the President said. (more…)

Construction investment will grow to 4% in 2011. Gerardo Cruz Vasconcelos, chairman of the Economic Studies Institute Mexican Finance Executives, hopes that Mexico will grow the  construction sector  by close to 2 billion pesos at the end of the year.
(more…)

Mexico’s state-owned oil company is suing 9 U.S. companies and two individuals for their purported involvement in buying or processing Mexican oil products that had been stolen.

Mexico’s state-run oil company Pemex is suing the U.S. companies for buying up to $300 million of fuel stolen and smuggled across the U.S.-Mexico border, court documents showed. (more…)

Telmex has to pay 91.5 million pesos OR $7.9 million for denying interconnection to other phone companies.

The Federal Communications Commission reports that Carlos Slim company committed a monopolistic practice between 2007 and 2008 by failing to provide interconnection service to Mexican Telecommunications Group. (more…)

For the private sector, insecurity remains the major factor that could limit the pace of economic activity in the next six months, according to the “Survey on the expectations of specialists in private sector economy,” reported today by the Bank of Mexico (Banxico). (more…)