JULY 2005 EDITION ARCHIVE

• • Legal Updates

    Aeronautic Developments

    México wants to enter agreement with the USA to manufacture airplanes. México is analyzing the possibility to sign with the USA the agreement known as Bilateral Aviation Safety Agreement (BASA) that would allow manufacturing complete airplanes.

  • Taxpayers’ Rights Law

    The Mexican government has enacted the taxpayers’ rights law in order to confirm and ensure the protection of taxpayers’ rights to be honored and respected by the Mexican tax authorities.

  • Business & Politics Outlook

    PRI Defeats Fox's Party in the States of México and Nayarit

    President Vicente Fox's party (National Action Party or PAN) lost important state elections for governors on Sunday, dealing a new blow to the president's declining fortunes and raising questions about his party's ability to mount a strong national campaign before the election for president next year. The Institutional Revolutionary Party, or PRI, which governed Mexico for 71 years until Mr. Fox was elected in 2000, overwhelmingly won the governor's race in the states of Mexico, the... [Read More]

  • Fight Grows Over a Stamp U.S. Sees as Racist and Mexico Adores

    The dispute over a series of new postage stamps labeled racist by United States officials threatened to turn into a full-blown culture war, even as sheets of the stamp, featuring a comic book character, sold out quickly. Mexicans, including President Vicente Fox, argued that calls to ban the stamp, which shows Memín Pinguín, a black child with caricatured features, were based on ignorance. On eBay, a set of 50 stamps was selling for $200.

  • Sony arrives to Ensenada Port

    Due to the congestion in Long Beach and Los Angeles ports, Sony has decided to use Ensenada port in the State of Baja California to transfer goods that must be immediately moved. Sony will move from July to November, the time to transfer goods for Christmas season, around 6,000 containers, 2,500 to be exported to South America and abroad.

  • Mexico's State Airline Seeks Bidders

    The government's airline holding company, Cintra, started seeking bidders for AeroMéxico and Mexicana, Mexco's two biggest airlines. Cintra said that potential buyers have until July 26 to express interest in purchasing up to 100 percent of AeroMéxico or Mexicana. Foreigners are limited to minority stakes and must ally themselves with Mexican investors to participate.

  • Pace reinforces local activity in México

    With an investment of US$5 million, Pace Industries inaugurated yesterday the expansion of its Saltillo plant, through which it is expecting to grow both in the production of pieces for home appliances and in new customers. Officers, employees and workers, and their families, attended the open house organized by the company after the inauguration of the third industrial building inside the same facilities.

  • Bowling balls factory transferred from USA to México

    Brunswick, the world-wide renowned bowling balls manufacturing company, announced the transfer of its production plant located in Muskegon, Michigan, to the border city of Reynosa, in the Mexican State of Tamaulipas. Brunswick said in a press release that the transfer, to be made within 12 to 24 months, is due to competitiveness reasons, because it is less expensive to produce bowling balls in Reynosa.

  • Economic Indicators

    Dollar Quote

    The United States dollar is currently quoted at $10.75 pesos per dollar.

  • Interest Rates

    The Equilibrium Interest Rate, used among Mexican banks for 28-day deposits, is at 10.00%.

  • Inflation

    The inflation in México for the period from January to May 2005 is 0.89%

  • Mexican Stock Market

    The Mexican Stock Market index is at around 13,790 points.