Mexico will experience a positive fiscal impact on their current account because of rising international crude prices, according to the Investment bank Merrill Lynch.

In a report issued Friday, the company said that for every $ 10 increase in oil price Mexico fiscal impact will be equivalent to 0.4% of Gross Domestic Product (GDP). (more…)

The full House of Representatives approved on Thursday a reform punishable with up to 18 years in prison on theft of oil in Mexico and up to 10 years in prison for gas station owners that alter the pumps to dispense less gasoline and diesel.

As part of the regular meeting in San Lazaro, was adopted with 386 votes in favor and two abstentions, the Federal Criminal Code reforms, the Criminal Procedure and the Law against Organized Crime, to establish as a felony the theft of oil. (more…)

With the aim of bringing even more to Spanish the Mexican distillates designation of origin, the tequila and mezcal , was held here today ‘Spirits Mexican Culture’ , as a tribute to these beverages and the Mexican cuisine.

In the official residence of the Ambassador of Mexico to Spain, Jorge Zermeño Infante, various experts gave classes and lectures for those who want to deepen their knowledge on tequila and mescal. (more…)

U.S. authorities allowed thousands of weapons purchased by smugglers to arrive in Mexico as part of an operation to locate the complete chain of  drug cartels in Mexico.

The initial objective was to ensure the weapons do not get into Mexico and stop the gun smugglers before crossing the border, however that part of the operation failed and thus let thousands AK-47′s and other guns reach their destination, said a U.S. federal agent. (more…)

Americas “ATF” to blame for Mexico’s gun violence..Agent was told to let thousands of guns enter Mexico! Orders came from the top..

The U.S. president, Barack Obama, said his country is working with the Mexican government to create a new era of bilateral relations.

From the White House, Bush was accompanied by President Felipe Calderon who acknowledged their work in different areas. (more…)

For the first time in Mexico was the announcement that a multi finance company (sofom) has evolved into commercial bank through the purchase of an existing bank, resulting in the new institution called ABC Capital.

The new bank-product of the merger of Banco Amigo Sofom ABC-Capital will be made by Mexican shareholders led by Mario Laborin, former director of Nacional Financiera, with an initial capital of 900 million pesos and will focus on financing real estate, infrastructure, public works and business credit, including microcredit, among others. (more…)

On the Carso Plaza, west of Mexico City, Before the businessman Carlos Slim, the Nobel laureate Gabriel García Márquez, and the American journalist, Larry King, the president Felipe Calderón inaugurated the new Soumaya Museum, located in the new Plaza Carso, west of Mexico City.

Calderón, in his address said that opening of this museum helps to put our country in the “vanguard of the cultural world” what he described as “great news for Mexicans.” (more…)

The weapon that killed the American immigration agent Jaime Zapata came from Texas, U.S. officials said.

Agents of the FBI and ATF arrested a Lancaster man and two others suspected of having trafficked weapons used in other attacks in Mexico. (more…)

Playboy magazine is launching this week its new issue in which the actress Lorena Herrera is on the front cover, Things worked out ok after the controversy over the alleged failure of the actress to sign the Playboy contract. (more…)

In 2010 Mexico regained the top spot as the worlds largest producer of silver in the world, overtaking Peru.

The Chamber of Mines of Mexico (Canimex) said in a statement that the latest official figures of production of silver, both Mexico and Peru, the Andean country registered a production of 3,637.4 tonnes in 2010, reports the Ministry of Energy and mines in that country. While the National Institute of Statistics and Geography in its report from January to November 2010 that Mexico scored 3640.7 tons, showing a production weighted to December 3,971 tons. (more…)

The last two U.S. ambassadors and other diplomats in Mexico have “done much harm,” President Felipe Calderon said in an interview published Tuesday by a Mexican newspaper, referring to cables in Wikileaks.

Ambassadors Antonio O. Garza and Carlos Pascual, who generated the cables “have done much damage with the stories they tell and the truth they distort,” Calderon told Mexican newspaper El Universal. (more…)

Walmex will open 365 stores in Mexico and 80 in Central America.

With a record investment of 18.970 million pesos, the company intends to have 365 units this year, Walmex assumed to have the financial resources to grow faster. (more…)

Mexican President Felipe Calderon says the U.S. government isn’t doing enough to help Mexico in its fight against drug cartels.

“I have found co-operation on this matter with President (George W.) Bush and with President (Barack) Obama, but obviously institutional co-operation ends up being notoriously insufficient,” Calderon told the Mexican newspaper El Universal in an interview published Tuesday.

(more…)

The Mexican government plans to increase military pay, provide pensions to the widows of soldiers killed in action, expand soldiers’ health benefits and increase pension payouts for retired army personnel.

President Felipe Calderon announced the changes in military pay and benefits during the Day of the Army celebration. (more…)