July Newsletter

IN FOCUS

The surprising truth about our motivations
This ten-minute video, narrated by Dan Pick, illustrates the hidden truths behind what really motivates us at home and in the workplace.
http://www.youtube.com/watch?v=u6XAPnuFjJc&feature=player_embedded

GLOBAL ECONOMY

Russia and the U.S. most protectionist among the G-20
According to the annual rankings released by the International Chamber of Commerce, Russia and U.S. are top in protectionism.
http://www.businessweek.com/news/2010-06-29/russia-u-s-most-protectionist-in-group-of-20.html

World can no longer depend on the U.S. to drive growth
Treasury Secretary Timothy Geithner said the world cannot depend as much on the U.S. as it has in the past to fuel economic growth.
http://news.bbc.co.uk/2/hi/business/10406463.stm

Ethical failures can hurt your bottom line
Although confronting ethical problems is difficult, companies must incorporate how to handle ethics issues into their business strategy.
http://www.cfo.com/article.cfm/14504175/c_14504464?f=home_todayinfinance

20 essential questions for every entrepreneur
Every entrepreneur must answer these questions in a truthful manner in order to be successful.
http://www.forbes.com/2010/06/17/most-important-questions-in-business-entrepreneurs-management-small-business.html?boxes=Homepagelighttop

FINANCE AND ACCOUNTING

How to fight workplace fraud
Discussion about the most common and costly workplace frauds and effective ways to prevent and detect them.
http://www.journalofaccountancy.com/Issues/2010/Jun/20102852.htm

Benefits of Sarbanes-Oxley are seen as outweighing costs
According to a survey by Protiviti, most companies think the benefits of the Sarbanes-Oxley accounting controls outweigh their costs.
http://www.protiviti.com/soxsurvey

Big Changes Proposed for Revenue Recognition
FASB and the IASB released a proposal that would create a single revenue recognition standard for both U.S. GAAP and IFRS.
http://www.journalofaccountancy.com/Web/20103049.htm

MEXICO AND LATIN AMERICA

Petrobras Sees Higher Insurance Costs After BP Spill
Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, expects insurance costs to rise after BP Plc’s spill in the Gulf of Mexico.
http://www.bloomberg.com/news/2010-07-02/petrobras-expects-insurance-costs-to-rise-after-bp-oil-spill-awad-says.html

Fujimori Nostalgia in Peru Fuels Daughter’s Candidacy
Keiko Fujimori travels to a prison outside Lima every week for electoral advice from an inmate with political experience: her father.
http://www.businessweek.com/news/2010-07-01/fujimori-nostalgia-in-peru-fuels-daughter-s-candidacy.html

A stronger Mexico is good for Canada
Mexico matters and in the future it is going to matter even more. http://www.theglobeandmail.com/news/opinions/a-stronger-mexico-is-good-for-canada/article1576422/

OTHER

Baby smoker in Indonesia
A two-year old Indonesian toddler is addicted to smoking cigarettes, after taking up the habit when he was 18 months old.
http://news.yahoo.com/video/world-15749633/toddler-smokes-two-packs-a-day-20064607


KEY MEXICO STATISTICS
Jun-10 / May-10 / Apr-10

Exchange Rate: MXN to USD
12.7225 / 12.7118 / 12.2336
Exchange Rate: MXN to EUR
15.7276 / 16.0283 / 16.3277
Exchange Rate: MXN to CAD
12.0907 / 12.3472 / 12.0890
Country Risk (basis points)
179 / 186 / 148
Bolsa (IPC BMV)
31,379 / 32,058 / 32,687
Cetes 28d
4.60% / 4.58% / 4.60%
Inflation (INPC, annual variation)
3.92% / 3.93% / 4.97%
UDIs
4.413205 / 4.428907 / 4.455126
International Reserves (Millions USD)
100,363 / 97,994 / 97,328
(Source: Mexico Central Bank)

OPPORTUNITIES

¿Piensas que tu empresa podría exportar al mercado británico?
Si es así, el Comité Empresarial México-Reino Unido del COMCE está listo para apoyar tu proyecto. ¡Contáctanos!
http://www.facebook.com/group.php?v=info&gid=105059679528077




Armando Nuricumbo, CPA, CPC
Multilingual Accountant and Auditor
International Experience
Plateros 16 Suite 504
San José Insurgentes
03900 México D.F.
México (52 55) 5339-5829
USA (210) 764-6134

Email: armando@nuricumbo.com
Web: www.nuricumbo.com
Profile available in Facebook and LinkedIn