Thursday, September 28, 2023

US debt ceiling in the hands of Congress

President Joe Biden and Republican leader Kevin McCarthy signed an agreement last Sunday to temporarily suspend the debt ceiling and limit some federal spending to avoid falling into default, which must be passed by both chambers before June 5. Must be approved by Among the notable points are:

suspension of the debt ceiling (currently USD $31.4 billion) until January 1, 2025; Increases total defense spending to $886MM, in line with Biden’s budget spending proposal for 2024 (+3.0% per year); They will keep non-defense spending practically constant next year and increase it by only 1% in 2025; Requirements for Medicaid and the Supplemental Nutrition Assistance Program (SNAP or food stamps) will increase.

This tentative deal is being taken with reserved optimism in the markets.

pemex, countdown

There is a little over a year left for this administration to end, and one of the proposed goals is the rescue of Petroleos Mexicanos (PEMEX) as the most important, and despite the fact that there are still many pending, already There are some achievements that give hope for a good ending.

According to the company’s quarterly report for the first quarter of 2023, PEMEX has managed to reduce total liabilities by 3.5% compared to the end of 2022, benefiting from exchange rate appreciation, which will further offset accounting differences. Can show So far, this has meant deleveraging of US$7,778 million.

In the first four months of the year, PEMEX’s hydrocarbon production without partners averaged 1.6 million barrels per day, down -4.3% from the same period last year. If we add partners and condensates, production reached an average of 1.86 million barrels per day, up 6.3% from the same period in 2022. Water shallow and onshore areas with which drilling time has been reduced and production has been accelerated and improved.

However, outstanding issues remain, such as a negative stockholders’ equity record of $97,437 million at the end of the first quarter of 2023 and pending debt payment maturities for this year of $18,179 million.

So far, there are many items that the company headed by Octavio Romero Oropeza can boast of. However, the countdown is already underway and there are pending issues to be answered. The question in the air is that at the end of a six-year term, will he be able to lay claim to defending PEMEX and energy sovereignty?

Denied the disappearance of cards in the short term

Rejecting that physical credit or debit cards to make transactions disappear in the short term, the participants in the panel concluded “Means of Payment, Growth or Revolution?” of the Third Regio Forum organized by PROSA, the main payment processor in Mexico, directed by Salvador Espinosa. The occasion was interrogated by Germán Sánchez of Ingenico in Mexico; Eduardo Santillan, head of Mexico at Verifone, and Jonathan Saporta from Virz Group.

Speakers agreed that, although we will see a reduction in plastic emissions, the concept of the card will be maintained because of the information it holds, whether on a cell phone or in the cloud. Also there are factors like low bank usage which is still present in the country and the penetration of plastic. However, there is a greater trend towards the use of digital cards and the use of biometrics to make payments is expected to accelerate.

Mexico is a very important market for Ticketmaster.

Mexico is one of the five most important markets for Ticketmaster worldwide. In this context, I would like to inform you that in our country the General Director of the company Ana María Arroyo and her work team are 100% focused on the process of technological and service transformation of the ticket office in Mexico, which will be in more than 30 markets globally Presently engaged in the implementation of various platforms developed by the company.

Thus they tell us that devices that have already been tested in relevant places such as the United States and the United Kingdom are about to be released in our country. The purpose of this change is clear, to improve the shopping experience and ensure that tickets purchased through its systems effectively reach the hands of fans by integrating additional security measures and fan identity verification . There is so much demand in the market to participate in entertainment shows and adequately meet the needs of the said fans.


Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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