Economic loss from Chile earthquake may hit $30B

Economic damages from Saturday's massive earthquake in Chile are likely to be in the range of $15 billion to $30 billion USD.
http://www.businessinsurance.com/article/20100227/NEWS/100229918


FINANCE AND ACCOUNTING

CFO's guide to international tax compliance
Prudent financial executives should take the time to evaluate their current international tax compliance and identify potential liabilities.
http://www.aicpa.org/pubs/taxadv/jan2010/collins.pdf

Auditors See Increase in Fraud
Fraudulent acts by employees and outsiders have risen since the beginning of the recession, and auditors predict the trend to continue.
http://www.webcpa.com/news/Auditors-See-Increase-in-Fraud-53221-1.html?zkPrintable=true

Bank lending sees biggest annual decrease since 1940s
Bank lending in the US fell by $587 billion, or 7.5 percent, in 2009, as the number of troubled financial institutions rose sharply.
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/23/AR2010022302120.html


GLOBAL ECONOMY

Foreign direct investment is decreasing
The flow of foreign direct investment (FDI) fell by 39% in 2009 to just over $1 trillion, from a shade under $1.7 trillion in 2008.
http://www.economist.com/daily/chartgallery/displayStory.cfm?story_id=15524629

Goldman Sachs’ secret deal with Greece
Goldman charged enormous fees in a complex currency transaction that helped Athens borrow cash without recording it as a loan.
http://compliancex.typepad.com/compliancex/2010/02/goldman-sachs-in-new-storm-over-secret-deal-to-mask-greek-debts.html

Greenspan: US Economy not poised for a strong rebound
Small businesses and the jobless still suffering from the aftermath of "the greatest financial crisis, globally, ever".
http://www.reuters.com/article/idUSTRE61M4B120100223

Berkshire Hathaway Annual Letter to Shareholders
Investor and billionaire Warren Buffett released his annual letter to Berkshire Hathaway Inc. shareholders.
http://www.startribune.com/business/85722637.html


MEXICO AND LATIN AMERICA

Mexico Expects Three New Private Equity Funds
Mexico expects financial firms to set up as many as three new private equity funds as they seek to tap into growing pension fund money.
http://www.bloomberg.com/apps/news?pid=20601014&sid=aOFGmfa7BI9U

Brazil’s Real Post Biggest Advance in the World This Month
Brazil’s currency had the biggest gain in the world this month as growth accelerated and traders anticipated interest rate increases.
http://www.businessweek.com/news/2010-02-26/brazil-s-real-post-biggest-advance-in-the-world-this-month.html

South America to create new bloc to defy US
The 24-strong bloc of Latin American states will form a new trade body intended to present opposition to US dominance. What can it really hope to achieve?
http://www.dw-world.de/dw/article/0,,5293667,00.html?maca=en-rss-en-all-1573-rdf


OTHER

Top 10 Forgettable U.S. Presidents
Presidents Day is typically associated with titans of American history. But what of the lesser men who have passed through the Oval Office?
http://www.time.com/time/specials/packages/article/0,28804,1879648_1879646,00.html


KEY MEXICO STATISTICS
Feb-10 / Jan-10 / Dec-09

Exchange Rate: MXN to USD
12.9547 / 12.8047 / 12.8563
Exchange Rate: MXN to EUR
17.3587 / 18.1682 / 18.8136
Exchange Rate: MXN to CAD
12.1227 / 12.2324 / 12.4813
Country Risk (basis points)
167 / 184 / 166
Bolsa (IPC BMV)
31,634.54 / 30,391.61 / 32,120.47
Cetes 28d
4.55% / 4.48% / 4.51%
Inflation (INPC, annual variation)
4.76% / 4.46% / 3.57%
UDIs
4.410955 / 4.364958 / 4.340166
International Reserves (Millions USD)
93,750.0 / 91,187.5 / 90,837.8
(Source: Mexico Central Bank)


OPPORTUNITIES

Risk Reward Limited
Risk Reward provides independent risk management consultancy for banks and financial institutions worldwide.
http://www.riskrewardlimited.com/

Ranch and Warehouse for Sale in Chiapas
Excellent investment opportunity. 90 Has. Close to the communities of Tonala and Tapachula. Sold by owner.
www.impulsora.net/venta