Newsletter October 2013

Dear friends and colleagues,

Please receive our summary of business articles for this month.

With very best regards,

Armando Nuricumbo, CPA

IN FOCUS

Tax Changes in Mexico that May Affect Your Business

http://www.slideshare.net/nuricua/mexico-2014-tax-reform-passed-by-senate-oct-31-2013-final-27964327

GLOBAL ECONOMY

The Price of Precious: Conflict Minerals

http://ngm.nationalgeographic.com/2013/10/conflict-minerals/gettleman-text

Engines of U.S. Growth Hard to Find

http://www.marketwatch.com/story/engines-of-us-growth-hard-to-find-2013-10-27

Stocks Cap Biggest Rally in Two Years to Beat Bonds, Commodities

http://www.bloomberg.com/news/2013-11-01/stocks-cap-biggest-rally-in-two-years-to-beat-bonds-commodities.html

Spain's Outlook Revised to Stable by Fitch

http://www.bloomberg.com/news/2013-11-01/fitch-raises-spain-s-outlook-to-stable-affirms-bbb-rating.html

FINANCE AND ACCOUNTING

Be The Best Consultant Ever: 6 Things That Will Make You Great

http://www.forbes.com/sites/dailymuse/2013/11/05/be-the-best-consultant-ever-6-things-that-will-make-you-great/?utm_campaign=forbestwittersf&utm_source=twitter&utm_medium=social

More than 10% of S&P 500 Companies have Zero Effective Tax Rate 

http://www.usatoday.com/story/money/business/2013/10/23/big-companies-pay-no-taxes/2480281/

What Allstate's Swain thinks is Important in Fraud Prevention  

http://ww2.cfo.com/fraud/2013/10/allstates-internal-audit-chief-tackles-fraud/view-all/

MEXICO AND LATIN AMERICA

Resultados Índice Mexicano de Confianza Económica (IMCE IMCP-BURSAMETRICA) Octubre 2013

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

Reforma Fiscal ¿Oportunidad o amenaza? Centro de Opinión Pública UVM

http://opinionpublicauvm.mx/presentacion-estudio-reforma-fiscal-oportunidad-o-amenaza/

Cancelan 200 Empresas Mineras Canadienses Inversión en México

http://www.eluniversal.com.mx/finanzas-cartera/2013/cancelan-200-mineras-de-canada-inversion-en-mexico-959077.html

Brazil Pledges 20% Cut in State Bank Lending to Narrow Deficit

http://www.bloomberg.com/news/2013-11-01/brazil-to-reduce-bndes-lending-by-about-20-to-narrow-deficit.html

OTHER TOPICS

Lourdes Garduño, Ex-Directora del Museo del Objeto del Objeto

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

How Companies can Sabotage their Best Effort at Innovation 

http://blogs.hbr.org/2013/10/11-ways-big-companies-undermine-innovation/

Presentan Campaña "Great Britain"

http://www.quintanarooaldia.com/noticia/presentan-en-mexico-campana-great-britain/20999

SPONSOR

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

http://www.integrasofom.com/

WHAT TO DO IN MEXICO CITY

International Book Fair at the Arts National Center

http://filij.conaculta.gob.mx/

Opera: Giacomo Puccini's "La Boheme" at Bellas Artes

http://www.palacio.bellasartes.gob.mx/index.php/gruposa/oba

Baroque Organ International Festival: Oaxaca, Mexico City, Aguascalientes and Puebla

http://ammao.org.mx/

55° International Film Show

http://www.cinetecanacional.net/

KEY MEXICO STATISTICS 2013

(Source: Mexico Central Bank)

OCT / SEPT / AUG

Exchange Rate: MXN to USD

13.0067 / 13.1747 / 13.3415

Exchange Rate: MXN to EUR

17.7385 / 17.7858 / 17.6628

Exchange Rate: MXN to CAD

12.4642 / 12.7894 / 12.6374

Exchange Rate: MXN to GBP

21.1971 / 21.5909 / 20.9939

Country Risk (basis points)

172 / 177 / 189

Bolsa (IPC BMV)

41,038.65 / 40,185.23 / 39,492.37

Cetes 28d

3.38 % / 3.50% / 3.83%

Inflation

3.39 % / 3.46% / 3.47%

UDIs

4.987942 / 4.968770 / 4.950951

IMCE (Economic Confidence)

68.22 / 67.70 / 70.81

International Reserves (M USD)

$174,261.6 / $173,031.7 / $169,869.8

Graphical Summary of Key Mexico Statistics at:

 http://www.slideshare.net/nuricua/key-mexico-statistics-aug-oct-2013