May 24, 2019
Latest News

Mexican president touts surge in job creation

Mexico City, Apr 16 (epa-efe).- President Andres Manuel Lopez Obrador on Tuesday touted the creation of more than 269,000 jobs in the first quarter, saying he would win the "wager" he has with financial experts, who are forecasting low economic growth in Mexico.

"According to the Mexican Social Security Institute (IMSS), the number of covered workers increased in the January-March quarter ... and 269,143 jobs were created," the president said during his daily press conference at the National Palace.

Such numbers, he said, had not been seen "in 10 years in a similar period."

The job numbers gave Lopez Obrador, the leader of the leftist National Regeneration Movement (Morena), evidence to claim that the economy is growing.

The president has said that Mexico's gross domestic product (GDP) can grow 4 percent, on average, during his 2018-2024 administration.

"The bet is on with the specialists, with the banks, with the financiers, who have predicted that we are going to have less growth than we are estimating," Lopez Obrador said.

According to financial institutions and international economic organizations, such as the International Monetary Fund (IMF), Mexico's economy will grow less than 2 percent this year, well below Lopez Obrador's goal of achieving average GDP growth of 4 percent.

"We accept the challenge and we are going to be watching from here. One of these times, we are going to win," the president said.

Last month, AMLO, as he is popularly known, said that credit rating agencies were punishing Mexico and state-owned companies, such as oil giant Pemex, for the "neoliberal policies" adopted by prior administrations.

The Mexican leader said the rating agencies had remained "quiet" while his predecessors implemented harmful economic policies.

"They are punishing the country for the neoliberal policies implemented over the past 36 years, which were a total failure. Especially in the past few years," AMLO said.

The comments came after Standard & Poor's downgraded its outlook for electric utility CFE from "stable" to "negative," the same rating it has for Pemex and Mexican sovereign debt.

S&P also revised the long-term outlook downward for 77 Mexican financial institutions, as well as for Coca-Cola Femsa and America Movil, after downgrading its sovereign debt outlook to "negative."

Fitch, another credit rating agency, also downgraded its outlook for Mexico.

News history
Mexico's plans for embattled energy sector spark criticism

Eduard Ribas i Admetlla

Champions final to generate 123 million euros, 66 million will stay in Madrid

Madrid, May 24 (efe-epa).- The UEFA Champions League final between Tottenham Hotspur and Liverpool at the Wanda Metropolitano stadium in Madrid will...

Experts stress using digital tools to make Colombian companies more dynamic

Cali, Colombia, May 23 (efe-epa).- Increasing human beings' use of digital tools is the vehicle whereby Colombia's business sector will develop, several...

Trump pledges another $16 bn for farmers hurt by Chinese tariffs

Washington, May 23 (efe-epa).- President Donald Trump on Thursday approved a second aid package for US farmers, this one for $16 billion, with the aim of...

China, Brazil agree to boost trade, cooperation

Beijing, May 23 (efe-epa).- The vice presidents of China and Brazil presided here Thursday over the fifth gathering of the Sino-Brazilian High-Level...

Israel blockades stem exports from Gaza

By Laura Fernández Palomo

ECB officials warned Eurozone economy may not rebound as expected

By Tom Fairless

Xi pushes for innovation so that China wins the new technological Cold War

By Jesus Centeno

FAA's acting chief won't predict when Boeing 737 MAX will return to flight

By Andy Pasztor

Deutsche Bank CEO signals more cuts to investment bank

By Jenny Strasburg

Carlos Ghosn attends first preliminary hearing in Tokyo ahead of trial

Tokyo, May 23 (efe-epa).- The former head of Nissan and Renault on Thursday attended the first preliminary hearing ahead of his trial, as his defense team...

Massive seaweed influx in Cancun's hotel zone

Cancun, Mexico, May 22 (efe-epa).- The hotel zone along the beaches in the Mexican resort city of Cancun on Wednesday experienced a massive influx of...

Journalism in digital age must rethink how to reach its audience

By Gina Baldivieso

Geneva, May 22 (efe-epa).- Venezuela's health minister said here Wednesday that economic sanctions imposed by Washington are to blame for shortages of...

Bucking US sanctions, American Airlines expands flights to Cuba

Havana, May 22 (efe-epa).- American Airlines, the leading international carrier serving Cuba, said Wednesday that it intends to offer additional flights to...

The UK's British Steel begins insolvency proceedings

London, May 22 (efe-epa).- British Steel Ltd., the United Kingdom's second-largest steelmaker, has started insolvency proceedings after the country's High...

Rare earths emerge as China's possible trump card in trade war against US

Jesus Centeno

India's antitrust watchdog surveys e-commerce firms including Amazon, Walmart

New Delhi, May 22 (efe-epa).- India's antitrust watchdog is assessing the domestic e-commerce sector, a step that could have consequences for Amazon.com...

Internal review reveals sexual assault cases in New Zealand parliament

Sydney, Australia, May 22 (efe-epa).- The New Zealand parliament on Wednesday admitted that at least three cases of serious sexual assault had taken place...

UN forecasts global economy to grow 2.7 pct. in 2019, 2.9 pct. in 2020

United Nations, May 21 (efe-epa).- The United Nations on Tuesday downgraded its forecast for world economic growth, announcing that it expects overall...

Plastic waste being made into ecologically friendly houses in western Mexico

By Mariana Gonzalez

Dr. AI comes to aid of China’s ailing healthcare

By Paula Escalada Medrano

Italian airline Alitalia cancels more than 280 flights due to strike

Rome, May 21 (efe-epa).- Italian airline Alitalia has canceled more than 280 flights on Tuesday amid a national 24-hour strike called by air sector unions.

US plans temporary exemptions to Huawei blacklist

By John D. McKinnon in Washington, Dan Strumpf in Hong Kong and Yoko Kubota in Beijing.

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.