MAY 2005 EDITION ARCHIVE

• • Business & Politics Outlook

    López Obrador: Neither with Lula nor with Chávez

    Andrés Manuel López Obrador, the governor of Mexico City, assured that his political plan is not comparable to those of presidents Luis Ignacio Lula Da Silva, of Brazil, or Hugo Chávez, of Venezuela. López Obrador announced that he will leave his post as governor of Mexico City on July 31 to seek the presidential nomination.  At a press conference with foreign journalists, he stated that his economic plan should not cause stress to the markets, since his intention... [Read More]

  • Coparmex does not agree with López Obrador

    Alberto Nuñez Esteva, president of the Mexican Employers' Confederation (Coparmex), disregarded López Obrador's so-called "Alternative National Plan," and invited him to debate his economic plan.

  • British, Canadians and Chinese reactivate mining in Mexico

    The Government Trust for Mining Development informed that foreign companies with British, Canadian and Chinese capital have initiated mining exploration in Mexico, along with small and medium-sized domestic companies.  Mining represents 1.5 per cent of the Mexican Gross National Product (GNP), even though Mexico is recognized as a traditional mining producer, particularly of silver (top world producer), lead and zinc.

  • BBVA Group highlights results of the Mexican economy

    José Ignacio Goirigolzarri, Member of the Board of the BBVA Group, expressed his satisfaction with Mexico's economic performance and stated that Mexico's principal economic indicators are solid. He pointed out that the Mexican economy is showing good results, both in terms of GNP increases, as well as in fundamental indicators, like inflation.

  • PEMEX: Without partnerships, a "straw effect" could take place

    Various private entities, among them Shell, BP, Chevron and Exxon, already have concessions to drill oil fields located in the Gulf of Mexico, which fields are shared by the United States of America and Mexico.  According to PEMEX officials, it is critical to enter into strategic partnerships to prevent foreign companies from obtaining oil derived from zones under Mexican jurisdiction.

  • Televisa files lawsuit against Univisión

    The conflicts between the first level executives of Televisa and Univisión have not only resulted in the resignation of Emilio Azcárraga Jean and Alfonso De Angoitia from the Board of Univisión, but also in the filing of a 5.2 million dollar lawsuit by Televisa pertaining to royalties derived from an agreement executed in 1996. Televisa is one of the largest shareholders in Univisión, controlling 9.3% of the shares.

  • Economic Indicators

    Manufacturing Industry

    The Department of Finance and Public Credit announced that manufacturing production increased by 2.6% in Mexico between January, 2004 and January of this year.

  • Dollar Quote

    The United States dollar is currently quoted at 11.03 pesos per dollar.

  • Interest Rates

    Interest rates in Mexico have been on the rise, due to the contraction of monetary supply both in Mexico and abroad.  The Equilibrium Interest Rate, used among Mexican banks for 28-day deposits, is at 10.21%.

  • Mexican Stock Market

    The Mexican Stock Market index is at around 12,500 points.