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The following are highlights of comments by leaders and officials at the Group of 20 finance ministers and central bankers meeting in Mexico City on Sunday. For a TAKE A LOOK of the G20 meeting: JAPANESE FINANCE MINISTER KORIKI JOJIMA “I’ll tell the G20 about Japan’s economic situation as we are at a critical stage of rebuilding (from last year’s quake). Of course we’ll assert our stance on global economy as well.” AUSTRALIAN TREASURER WAYNE SWAN ON THE GLOBAL ECONOMY: “There are a number of challenges in the global economy, you’ve got recession in Europe and no prospect of any [...]

MEXICO CITY There has been no discussion about putting back the start date for new rules of bank capital buffers in the lead-up to this weekend’s G20 meeting, a senior Mexican Finance Ministry official told Reuters on Saturday. U.S. and European financial officials are likely to come under pressure from peers when they meet in Mexico City for dragging their feet on implementing the so-called Basel III accords, the world’s response to the 2007-09 financial crisis. “In the last three weeks, not one conference call, not one paper that has been presented, has suggested that modifying the timetable could be [...]

MEXICO CITY World finance chiefs this weekend will press the United States on how it can prevent its fiscal problems from hitting the global economy and will seek reassurance from Europe that it has a grip on its debt crisis. U.S. and European financial officials are also likely to come under pressure from peers when they meet in Mexico City for dragging their feet on implementing the so-called Basel III accords, the world’s response to the 2007-09 financial crisis. Coming just before the U.S. presidential election and days ahead of China’s Communist Party congress, several top finance ministers and central [...]

Mexican oil production has dropped drastically in recent years but it’s possible there could be some 29 billion barrels of oil under the Gulf.A floating Pemax oil production facility with capacity to store and process about 2 million barrels of oil. The oil is later transferred directly onto tankers.The exploration platform is a 20-minute helicopter ride over the Gulf of Mexico.A boost to Mexico’s oil future? There’s a vast area of the Gulf of Mexico to explore and the size of the task is really brought into focus when you visit an exploration rig. After a 20-minute helicopter flight over [...]