Newsletter June 2013

Dear friends and colleagues,

Please receive our summary of business articles for this month.

I hope you will find this material useful.

With very best regards,

Armando Nuricumbo, CPA

Finance. Business Development. Strategy.

Nuricumbo + Partners

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IN FOCUS

Mexico, a "Beautiful Country" With a "Poor" Reputation

http://www.forbes.com/sites/doliaestevez/2013/07/02/mexico-a-beautiful-country-with-a-poor-reputation/

GLOBAL ECONOMY

Business Activity in U.S. Cools More Than Forecast

http://www.bloomberg.com/news/2013-06-28/business-activity-in-u-s-cooled-more-than-forecast-in-june.html

Who will get credit for Britain's economic turnaround?

http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/

The rise of smart beta

http://www.economist.com/news/finance-and-economics/21580518-terrible-name-interesting-trend-rise-smart-beta?frsc=dg%7Ca

FINANCE AND ACCOUNTING

The Proper Way to Hire Financial Staff  

http://www.accountingtoday.com/news/do-not-make-easy-to-be-an-employee-at-your-firm-67241-1.html

Hiring in Emerging Markets Challenges CFOs 

http://blogs.wsj.com/cfo/2013/06/21/cfos-say-recruitment-in-emerging-markets-is-their-top-talent-challenge/?mod=wsj_cfohome_cforeport

CFOs Unhappy with Big 4; Only Half would recommend Auditor 

http://www3.cfo.com/article/2013/6/auditing_pwc-ernst-young-kpmg-deloitte-big-four-audit-fees

MEXICO AND LATIN AMERICA

Brazil seeks U.S. response to alleged spying on citizens

http://www.reuters.com/article/2013/07/07/us-brazil-espionage-snowden-idUSBRE9660ER20130707

Mexico Offers Credit Help for Builders Struggling With Shift

http://www.bloomberg.com/news/2013-06-29/mexico-offers-credit-help-for-homebuilders-struggling-with-shift.html

Coca-Cola Femsa Targets Brazil Expansion with Fluminense Deal

http://www.bloomberg.com/news/2013-06-29/coca-cola-femsa-targets-brazil-growth-with-fluminense-purchase.html

Resultados IMCE Junio 2013

http://imcp.org.mx/publicaciones/indice-mexicano-de-confianza-economica-junio-2013#.UdsuKhYo7-c

OTHER TOPICS

Entrevista con Suichiro Megata, Excelentísimo Embajador de Japón en México

http://www.aapaunam.mx/Revista/REV-A4-VOL4-AbrilJun/Shuichiro_Megata_Embajador_Japon.pdf

3 Steps to Taking your Leadership to the Next Level 

http://smartblogs.com/leadership/2013/06/19/how-leaders-can-move-past-their-places-of-comfort/

WHAT TO DO IN MEXICO CITY?

Roma-Condesa: 111 years of history

http://elmodo.mx/exposiciones/roma-condesa-2/

Bistro Charlotte: Small, cozy Bistrot with amazing food in heart of Polanco

http://www.chilango.com/restaurantes/polanco/bistro-charlotte

Juana in a Million: Winner of the Fringe First Edinburgh Festival

http://angloarts.mx/evento.php?id_evento=1108

Impulsos Modernos. Pintura en México 1840-1950

http://www.mexicoescultura.com/agenda_cultural.php?idac=32081&idec=55007&tipo=xml&tipo_tema=A&tabla=A&bus=3#Ancla

KEY MEXICO STATISTICS 2013

(Source: Mexico Central Bank)

JUN / MAY / APR

Exchange Rate: MXN to USD

13.0279 / 12.8035 / 12.1456

Exchange Rate: MXN to EUR

17.0236 / 16.6330 / 15.8816

Exchange Rate: MXN to CAD

12.3609 / 12.3609 / 12.0467

Exchange Rate: MXN to GBP

20.0660 / 19.6861 / 19.1734

Country Risk (basis points)

206 / 154 / 149

Bolsa (IPC BMV)

40,623.30 / 41,588.32 / 42,263.48

Cetes 28d

3.82% / 3.71% / 3.76%

Inflation

4.63% / 4.65% / 4.25%

UDIs

4.952064 / 4.962344 / 4.971524

IMCE (Economic Confidence)

71.94 / 73.83 / 74.62

International Reserves (M USD)

$166,376.6 / $167,487.8 / $167,135.8

  Graphical Summary of Key Mexico Statistics at:

 http://www.slideshare.net/nuricua/key-mexico-statistics-april-june-2013

"Choose a job you love, and you will never have to work a day in your life." - Confucius