Jaltemba Sol
Mexico sees cheaper electricity by year end
GUADALAJARA, Mexico, Aug 13 (Reuters) - Mexican Finance
Minister Agustin Carstens said on Wednesday that electricity prices in Mexico
could drop significantly by year end and pledged not to abandon subsidies on
gasoline anytime soon.
Economists follow fuel and electricity prices -- largely
controlled by the government -- closely because they weigh heavily on general
inflation, which is running at its highest in more than three years.
Persistently high inflation has led many investors to bet
that Mexico's central bank could raise its benchmark overnight interest rate for
the third straight month on Friday, from the current 8.0 percent to 8.25
percent.
"We expect that by year end there will be a reduction in the
price of electricity that could be significant," Carstens told lawmakers in the
western city of Guadalajara.
The government is expected to spend close to $19 billion
this year to subsidize gasoline, diesel and household cooking fuel to shield
Mexicans from high world oil prices.
"There are no immediate plans to change the fundamental
policy for setting gasoline prices," Carstens said. "For the moment, there is no
intention of abandoning (the subsidy)."
Still, the government has gradually pushed up prices at gas
pumps in recent weeks.
Carstens also told lawmakers that the government's 2009
budget proposal will include an oil price forecast of $80 per barrel for
exports.
Mexico depends on oil revenue for about a third of the
federal budget. President Felipe Calderon must submit a budget proposal to
Congress by Sept. 8, and lawmakers must approve the budget by Nov. 15.
"We are going with a price of $80," Carstens told lawmakers.
Mexico's government normally lowballs the expected price of
oil in its budgets to avoid shortfalls in case prices drop.
This year Congress set the forecast price at $49 per barrel,
though Mexican crude exports have brought in an average of about $94 per barrel
between January and June.
Mexican crude MEX-OSP fetched $108.72 on Wednesday. (Writing
by Jason Lange; Editing by Jonathan Oatis)
Mexico To Face Chile In Los Angeles
El Tri continue their so-called US tour with a friendly next
month at the Los Angeles Coliseum.
The Mexican National Team have drawn more than 50,000 fans
to three games played in the United States so far this year. Next month, in Los
Angeles, they should be able to draw even more when they will take on Chile in a
friendly at their home away from home, the LA Colisseum.
The match, set
for September 24, will be Mexico manager Sven Goran Eriksson's first in the US
since taking the reins of el Tri two months ago.
Normally, the Coliseum
is a fortress for the Mexican team, but the last time here, they lost to
Guatemala, 3-2, in front of 42,349 fans. So far this year, Mexico has two wins
and one loss in matches played north of the Rio Grande. In April, they defeated
China 1-0, in Seattle. Then in June, they were thrashed by Argentina, 4-1, in
San Diego. Later, el Tri crushed Peru 4-0 in chicago. before
Chile is
currently in fourth place in CONMEBOL's World Cup qualifying standings. Their
next match is at home against Brazil on September 7 in Santiago.
Rafael Concepcion to fight Jorge Arce on September 15
Rafael
Concepcion of Panama will battle Mexican fighter Jorge Arce to defend his newly
acquired Interim WBA Super-flyweight crown. The bout is to be held on Monday
September 15th in Mexico City, Mexico. Last night Damon de Berry of Optimum
Sports Agency, who represents Rafael Concepcion, accepted the offer from
international matchmaker Sampson Lewkowicz for the proposed bout.
"The September 15th date was chosen because it’s the eve of Mexico’s
Independence Day and a major celebration.” explains de Berry. “The Concepcion vs
Arce clash will be a highlight to this year’s fiesta.”
Concepcion says
“This is a great opportunity to beat a great fighter like Arce and I'll be in a
better position among the best ranked 115-pounders in the world. Tomorrow I'll
be back in the gym preparing for the fight"
Concepcion (11-2-1) is
coming off a tremendous victory when he overpowered AJ Banal in Cebu,
Philippines on July 26 to score a dramatic 10th round knockout and win the WBA
Interim super-flyweight crown. Early in the fight Banal was able to use his
quick counter punching to take an early lead, yet as the fight progressed
Concepcion's will and desire were the telling factors as he broke Banal down
with vicious body shots and constant pressure, to which Banal had no answer.
Arce (49-4-1) of Mexico, who last fought on May 17, scored a majority
decision over Thai fighter Devid Lookmahanak in Aguascalientes, Mexico. The
fight was competitive and Arce scored a flash knockdown in the 7th round. Yet
despite this, the largely unknown Thai forced things to the final bell.
“This will be an explosive fight as long as it lasts.” says de Berry. “Arce is a
come forward pressure fighter. Both fighters don’t give an inch and this fight
will come down to who possesses the most determination and desire.”
”Rafael is very well prepared and high on confidence after his last win.” de
Berry concludes. ”Arce is a very tough opponent to take on in our first defence
but it shows the confidence we have in Rafael and the confidence he has in
himself.”