Newsletter August 2013

Dear friends and colleagues,

Please receive our summary of business articles for this month.

With very best regards,

Armando Nuricumbo, CPA

IN FOCUS

Mexico Unveils Latest Plan for Tax Reform

http://www.independent.co.uk/news/world/americas/mexico-lines-up-tax-reform-with-leftist-lean-president-enrique-pea-nieto-raises-income-tax-but-not-vat-in-latest-shakeup-8807483.html

GLOBAL ECONOMY

U.S. reportedly Seeks Advice on Oil Impact of Syrian attack 

http://www.reuters.com/article/2013/08/30/us-syria-crisis-oil-idUSBRE97T00K20130830

Worst of Crisis over for Asian Emerging Markets

http://www.bloomberg.com/news/2013-09-02/worst-is-over-for-asia-s-emerging-markets-nomura-s-ashley-says.html

Euro-Area Manufacturing Expands on Surge in Italy, Spain

http://www.bloomberg.com/news/2013-09-02/euro-area-august-factory-output-expands-faster-than-estimated.html

FINANCE AND ACCOUNTING

Currencies in Emerging Markets Plummet 

http://www.reuters.com/article/2013/08/19/us-markets-emerging-idUSBRE97I0UY20130819

Switzerland and U.S. Reach Tax Deal 

http://dealbook.nytimes.com/2013/08/28/switzerland-close-to-tax-deal-with-u-s/?_r=1&

U.S. bank industry profits hit record $42.2 billion in second quarter

http://www.reuters.com/article/2013/08/29/us-financial-regulation-earnings-idUSBRE97S0O520130829

MEXICO AND LATIN AMERICA

Canadá fortalece su Presencia Minera en México

http://eleconomista.com.mx/industrias/2013/08/22/fortalece-canada-presencia-minera-mexico

S&P cautious on Mexico tax plan, eyes possible upgrade

http://in.reuters.com/article/2013/09/09/us-mexico-economy-idINBRE98818X20130909

Brazil, Mexico ask U.S. to explain if NSA spied on presidents

http://www.reuters.com/article/2013/09/02/us-usa-security-brazil-mexico-idUSBRE9810B620130902

Entrevista con Marcos Raposo, Embajador de Brasil en México

http://www.aapaunam.mx/Revista/REV-A5-VOL5-Abril-junio/Marcos_Raposo_EmbajadorBr_Rev_Abril_Junio2013.pdf

Resultados Índice Mexicano de Confianza Económica (IMCE) Agosto 2013

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

OTHER TOPICS

Good Leaders Listen and Stay Positive 

http://www.businessnewsdaily.com/4991-effective-leadership-skills.html

Hidden Risks for Enterprises as they move to the Cloud 

http://www3.cfo.com/article/2013/8/risk-management_anderson-kill-cloud-computing-cyber-risk-microsoft-google-amazon-rackspace-salesforce

HR's Strategic Role is of Growing Importance to CFOs 

http://businessfinancemag.com/hr/global-expansion-has-cfos-concerned-about-hr

SPONSOR

¿Buscas una excelente opción para adquirir tu automóvil en arrendamiento?

http://www.integrasofom.com/

WHAT TO DO IN MEXICO CITY

Exhibition: El Rock en México. 1955-2010

http://elmodo.mx/

Exhibition: Mexico through Photography, 1839 - 2010

http://munal.mx/micrositios/fotografia/

World Press Photo at the Franz Mayer Museum

http://www.chilango.com/cultura/nota/2013/08/28/el-world-press-photo-2013-llega-al-franz-mayer

KEY MEXICO STATISTICS 2013

(Source: Mexico Central Bank)

AUG / JUL / JUN

Exchange Rate: MXN to USD

13.3415 / 12.8464 / 13.0279

Exchange Rate: MXN to EUR

17.6628 / 17.0266 / 17.0236

Exchange Rate: MXN to CAD

12.6374 / 12.4922 / 12.3609

Exchange Rate: MXN to GBP

20.9939 / 19.7581 / 20.0660

Country Risk (basis points)

189 / 171 / 206

Bolsa (IPC BMV)

39,492.37 / 40,837.88 / 40,623.30

Cetes 28d

3.83% / 3.88% / 3.82%

Inflation

3.47% / 4.09% / 4.63%

UDIs

4.950951 / 4.947882 / 4.952064

IMCE (Economic Confidence)

70.81 / 73.52 / 71.94

International Reserves (M USD)

$169,869.8 / $168,247.4 / $166,376.6

Graphical Summary of Key Mexico Statistics at:

http://www.slideshare.net/nuricua/newsletter-agosto-2013-26003335

"Better late than never. But never late is better."