Newsletter February 2014

Dear friends and colleagues,

Please receive our summary of business articles for this month.

With very best regards,

Armando Nuricumbo, CPA

I invite you to follow me on Facebook

IN FOCUS

US will stand with Ukraine: John Kerry

http://www.dw.de/kerry-us-will-stand-with-ukraine/a-17473349

Obama Renews Plea for IMF Resources amid Ukraine Loan Talks

http://www.bloomberg.com/news/2014-03-04/obama-renews-request-for-imf-resources-amid-ukraine-loan-talks.html

Consumer Confidence in U.S. Declines More Than Forecast

http://www.bloomberg.com/news/2014-02-25/consumer-confidence-index-in-u-s-decreased-to-78-1-in-february.html

Global Tax Agreement moves Forward; OECD Eyes Digital Transactions 

http://www.bloomberg.com/news/2014-02-23/g-20-agrees-to-automatic-tax-data-sharing-by-end-2015-oecd-says.html

Italy Unemployment Rises to Record High in Challenge for Renzi

http://www.bloomberg.com/news/2014-02-28/italy-unemployment-rises-to-record-high-in-challenge-for-renzi.html

GLOBAL ECONOMY

Change on the Board of Directors of Georg Fischer Ltd

http://www.georgfischer.com/content/gf/com/en/news/mediareleases/mediarelease/change-on-the-board-of-directors-of-georg-fischer-ltd.html

Resources Global Professionals to Present at Baird's 2014 Business Solutions Conference

http://ir.rgp.com/releasedetail.cfm?ReleaseID=823301

Consumers Lead Canada Growth to Faster-Than-Expected 2.9%

http://www.bloomberg.com/news/2014-02-28/consumers-power-canada-growth-rate-to-2-9-.html

India Growth Slows to 4.7% with Rebound Seen Hinging on Election

http://www.bloomberg.com/news/2014-02-28/india-s-gdp-growth-slows-as-interest-rate-increases-dim-outlook.html

China Retains 7.5% Growth Target for 2014

http://www.bloomberg.com/news/2014-03-05/china-retains-7-5-growth-target-for-2014-as-challenges-mount.html

FINANCE AND ACCOUNTING

European Officials Drop tax-disclosure Plans for Multinationals 

http://uk.reuters.com/article/2014/02/26/uk-eu-tax-law-idUKBREA1P1JV20140226

S&P 500 Extends Record as Treasuries Drop on Economy Data

http://www.bloomberg.com/news/2014-02-27/yen-holds-gain-on-ukraine-as-s-p-500-rises-to-record-high.html

Rising Revenue cuts U.S. Budget Deficit 

http://www.nytimes.com/2014/02/28/business/economy/federal-deficit-falls-to-smallest-level-since-2008.html?_r=0

Asian Stocks Rise as Easing Ukraine Concern Weakens Yen

http://www.bloomberg.com/news/2014-03-05/asian-stocks-rise-as-easing-ukraine-concern-weakens-yen.html

Treasuries Hold Losses as Ukraine Tension Eases Before Jobs Data

http://www.bloomberg.com/news/2014-03-05/treasuries-hold-losses-as-ukraine-tension-eases-before-jobs-data.html

MEXICO AND LATIN AMERICA

México y Canadá firman Acuerdos Económicos y para impulsar el Turismo

http://mexico.cnn.com/nacional/2014/02/18/mexico-canada-acuerdos-economia-turismo-transporte-plan-financiero

Britain to provide Mexico with $6.5 MN to Bolster Scientific Innovation

http://latino.foxnews.com/latino/lifestyle/2014/02/05/britain-to-provide-mexico-with-65-mn-to-bolster-scientific-innovation/

Mexico Takes over Oceanografia After Citigroup Alleges Fraud

http://www.bloomberg.com/news/2014-02-28/mexico-takes-control-of-oceanografia-as-citigroup-alleges-fraud.html

Maduro Urges Negotiations as Venezuela Death Toll Rises

http://www.bloomberg.com/news/2014-02-28/venezuelan-protests-mark-start-of-six-day-holiday.html

Brazil Economy ends 2013 on an Upbeat Note, boosting Rousseff

http://www.reuters.com/article/2014/02/27/us-brazil-economy-gdp-idUSBREA1Q19E20140227

OTHER TOPICS

Entrevista con E.G. Dereymaeker, Embajador de Bélgica en México

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

13 Traits of Thoughtful Leadership 

http://smartblogs.com/leadership/2014/02/26/how-do-you-convey-to-employees-that-you-are-a-thoughtful-leader/

What CFOs Should Look for when Choosing a Bank

http://ww2.cfo.com/credit/2014/02/beware-banks-much-debt/

4 Steps to Overcoming Resistance to Innovation 

http://www.management-issues.com/opinion/5738/how-to-get-your-ideas-adopted/

Smart Bosses hire People who offset their Weaknesses 

http://www.nytimes.com/2014/02/23/business/david-rosenblatt-of-1stdibs-on-teamwork-at-the-top.html

WHAT TO DO IN MEXICO CITY

1^st Season of the National Philharmonic Orchestra 2014

http://www.ofunam.unam.mx/interiores/programacion/programa7.html#p9

30^th Mexico Historic Downtown Festival

http://festival.org.mx/site/

Oferta de Restaurantes para Semana Santa

http://www.chilango.com/restaurantes/nota/2014/03/04/mariscos-para-la-cuaresma

Oscar Awarded “12 Years a Slave” at the National Cineteca

http://www.cinetecanacional.net/php/detallePelicula.php?clv=12664&Tit=Pel%EDculas%20en%20exhibici%F3n

Las Colecciones del Museo Nacional de Historia

http://www.castillodechapultepec.inah.gob.mx/colecciones/coleccion_2.html

KEY MEXICO STATISTICS 2014

(Source: Mexico Central Bank)

FEB / JAN / DIC

Exchange Rate: MXN to USD

13.2379 / 13.3769 / 13.0843

Exchange Rate: MXN to EUR

18.2590 / 18.1244 / 18.0079

Exchange Rate: MXN to CAD

11.9432 / 12.0149 / 12.3168

Exchange Rate: MXN to GBP

22.4783 / 22.3140 / 21.9648

Country Risk (basis points)

168 / 196 / 156

Bolsa (IPC BMV)

38,782.89 / 40,879.75 / 42,727.09

Cetes 28d

3.15% / 3.18% / 3.16%

Inflation

4.48% / 3.97% / 3.62%

UDIs

5.129269 / 5.100417 / 5.058731

IMCE IMCP BURSAMETRICA (Economic Confidence)

68.78 / 67.28 / 71.43

International Reserves (M USD)

$179,704.80 / $177,179.10 / $176,578.70 

Graphical Summary of Key Mexico Statistics at:

http://www.slideshare.net/nuricua/newsletter-febrero-2014

“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — everyday I’m learning something new.”
- Richard Branson