DoingBusinessInMexico.com™
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- January, 2009
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DoingBusinessInMexico.com
2 points loss on unemployment rate!
As a result of the world economic crisis, the Mexican unemployment rate has stabilized in the band between 5.5% and 6.0%. This means that the economic downturn has resulted in a 2 points loss compared to the band experienced before the crisis (between 3.5% and 4%).
DoingBusinessInMexico.com 2010 VAT general rate will be 16% As of January 1st 2010 the Value Added Tax general rate will move from 15% to 16%. Since this tax method of collection is conditioned to the cashflow payment, invoices issued in 2009 (with a 15% rate) and paid after the extended date of January 10th will be affected by a 16% rate.
DoingBusinessInMexico.com Central Bank Christmas Present! The Mexican Central Bank reported a historic record on accumulation of US$87,562 millions of international reserves on December 11, 2009; this figure is 10 billion dollars higher than the one reported 3 months ago.
DoingBusinessInMexico.com Standard & Poor’s lowered the foreign-currency sovereign credit rating on Mexico to 'BBB' from 'BBB+'. Despite recent tax increases and steps that could bolster growth prospects, S&Ps expects that Mexico's fiscal challenges will persist over the coming years. Still, S&Ps recognizes the absence of macroeconomic imbalanc ...es in the Mexican economy.
DoingBusinessInMexico.com Chess Castling with Ministers! Calderon is promoting Agustin Carstens, former Minister of Finance, to the position of Governor of the Central Bank Banco de México. The Senate must decide his appointment in the weeks to come. Ernesto Cordero, former Minister of Social Policy, has been appointed as Minister of Finance.
DoingBusinessInMexico.com The Mexico Infrastructure Conference presented the Portfolio of Infrastructure Projects for 2010. The event was held last November in New York City. Multimillion dollar infrastructure public/private projects were presented and discussed during the conference. Full article at www.DoingBusinessInMexico.com
DoingBusinessInMexico.com
What are the Mexicans looking for when they are surfing on Google?
Under the name of Zeitgeist, Google has studied the aggregation of billions of queries people typed into Google search this year from multiple sources. The idea is to build out lists that best reflect "the spirit of the times." Full article at Portal
DoingBusinessInMexico.com BMV Year Record! The Mexican Stock Exchange BMV at its best level since mid-2008. Today, the stock index IPC reached 31,750 points.
DoingBusinessInMexico.com Mobile Phones subscribers significantly exceed fixed-line users. With a density over 70 mobile phones per 100 people, the coverage is compared with countries like Canada and Brazil. The setback is related with the inequality on access from urban (2 mobile phones per person standard) to rural areas.
DoingBusinessInMexico.com Mexico has a deficient coverage of fixed line phones in comparison with other countries with similar economic development.
DoingBusinessInMexico.com Fitch Ratings downgraded Mexico's foreign currency Issuer Default Rating (IDR) from BBB+ to BBB. Still, the rating outlook was reported as stable. The arguments: the weakness in the fiscal profile and the high dependency on oil revenues while the scenario signals falling oil production.
DoingBusinessInMexico.com PEMEX reported production for the first 10 months of the year averaged 2.607 million barrels per day, slightly below the 2.75 million barrels estimated at the beginning of the year. The standard export price during this period was US$54.50 per barrel.
DoingBusinessInMexico.com
Welcome to One World!
The second-largest airline in Mexico, Mexicana, joined the One World alliance.
The global alliance that brings together eleven of the world's biggest juste welcomed Mexicaa in its memberhip.
DoingBusinessInMexico.com Poor Fight Against Corruption! Transparency International released on November 17th its 2009 Corruption Perceptions Index (CPI) ranking 180 countries´ position based in terms of perceived levels of corruption, as determined by expert assessments and opinion surveys. Mexico was ranked in 89 position with a 3.3 score, an ...d just after China (79) & Brazil (75). Mexico was ranked 72 in 2008.
