JANUARY 2009 EDITION ARCHIVE
Legal Updates
300 PALABRAS - Mexico: Financial Strength In The Midst Of Global Economic Crisis
Opinion by Dr. Mario Melgar-Adalid The Mexican government stated that the global economic crisis will not significantly affect its financial condition. Mexico's Secretary of the Treasury, Agustin Carstens, expressed at the onset of the global economic crisis that the Mexican economy would catch only a "light cold" as opposed to "pneumonia", as was the case in the past when the U.S. economy experienced a downturn. Carstens, a capable international financier, prepared a plan... [Read More]Jurisprudence on Employer Liability in Labor Matters
In a private session on November 19, 2008, the Second Chamber of the Mexican Supreme Court issued case decision number 2a./J.188/2008 under the caption "Employer Liability in Labor Matters. If the Exclusive or Principal Beneficiary of Labor Services Rejects Responsibility Fully and Plainly, the Burden of Proof Shall Fall on Such Party" so that in determining whether employer liability exists in a labor lawsuit filed by an employee, in which the plaintiff alleges the exclusive or principal... [Read More]Mexico’s Department of the Economy Publishes New Decree Establishing Requirements for Permanent Importation of Used Vehicles
On December 24, 2008, the Mexican Department of the Economy (Secretaria de Economía or SECON), published in the Official Journal of the Federation (Diario Oficial de la Federación or DOF) the new "Decree establishing conditions for the permanent importation of used vehicles" (the "Decree"). The Decree entered into force on January 1, 2009 and shall be effective until December 31, 2010. Such Decree nullifies previously published decrees from August 22, 2005 and April... [Read More]Business & Politics Outlook
Obama and Calderon in Historic Meeting
Mexican President Calderon Meets with President-elect Obama The Mexican government stated that the global economic crisis will not significantly affect its financial condition. Mexico's Secretary of the Treasury, Agustin Carstens, expressed at the onset of the global economic crisis that the Mexican economy would catch only a "light cold" as opposed to "pneumonia", as was the case in the past when the U.S. economy experienced a downturn. Carstens, a capable international financier... [Read More]Mexico Participates as a Member of the United Nations Security Council
Beginning January 1, 2009 Mexico will be a member of the United Nations' Security Council for the 2009-2010 term. The UN Security Council is the principal international peace-keeping and security agency. In addition to the five permanent members enjoying a veto right (United States, Great Britain, France, Russia and China), the Security Council is comprised of ten non-permanent members elected by the General Assembly of the UN for a two-year term. Mexico's election (it also served on the... [Read More]Predictions of a Contraction in Mexico’s Economy in 2009 Followed by Growth in 2010. New Economic Crisis Plan
Analysts in Mexico's private sector predict a contraction of the country's Gross Domestic Product (GDP) of 0.1% for 2009, according to a poll carried out by the Mexican Central Bank (Banco de México). According to such analysts, the main factors restricting growth in the Mexican economy includes the following: a) a fall in exported products and services owing to the decline of the world economy; b) uncertainty that has gripped international financial markets; c) a fall in the price... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of January 12, 2009 was $13.7608 pesos per dollar.
Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on January 12, 2009 at 21,162.27 points.
Interest Rates
On January 12, 2009, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 8.645%.
Mexico IP Info
Prior Investigation of Trademark Registration
The opening of global trade allows trademark owners to penetrate new markets. Occasionally, the owner of a trademark in a given country (and other countries in which it plans to introduce products or services) after growing its business, decides to register its trademarks in new territory. In order to do this, the trademark owner begins application procedures to obtain trademarks in such countries. However, the reality is that in the absence of specific international treaties on intellectual property... [Read More]