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 Business News
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In Mexico, Ladies Ring in the New Year in Brand-New Underwear
 William Booth
A visitor here might be confused when suddenly, at the end of December, there appears in street stalls and market bins a mountain of underwear for sale. At subway stops, in grocery aisles, in department stores, it's all about ladies' undergarments, and always in the colors red or yellow.
MEX Banks to Charge Only One Fee for ATM Use
 The News
In 2010, the Bank of Mexico (Banxico) will inact a new regulation in order to prevent undue commission fee charges for ATM users.
Mexico’s Peso Rises, Heading for First Annual Advance Since 2005
 Eric Martin
Mexico’s peso strengthened, heading for its first annual advance since 2005, as initial jobless claims in the U.S., the nation’s largest trading partner, fell to the lowest level since July 2008.
Mexican Insurance Store Founder Provides Peace of Mind to Vacationers in Mexico
 PRWeb
In the insurance business for more than 32 years, Linden Gray's only focus is to protect American and Canadian drivers when they're behind the wheel in Mexico.
 In US, Crony Capitalism Unchanged
 The Real News Network
Robert Johnson: Only public money pushed the economy back from the cliff; it can all happen again.
INFONAVIT Housing Loans Not Affected
 Maria del Carmen Martínez
Despite the intense international economic crisis and the fall in GDP in Mexico, the National Workers Housing Institute Fund (INFONAVIT) closed this year with 450,000 new housing loans.
Mexico's Oil Output Falls in November
 MENAFN
A statement released by Petroleos Mexicanos, Latin America's largest oil producer, said that the company has pumped 2.553 million barrels of oil a day in November, AP reported.
Mexico's Economy Shows Encouraging Signs at Year End
 Xinhua
Mexico's economy showed encouraging signs at the end of 2009, with a falling unemployment rate and recovering exports, the Bank Group Scotiabank said on Sunday.
Mexican Stocks at Highest Level in More than 2 Years
Patrick Rucker
Mexican stocks rose to their highest level in more than two years on Thursday despite holiday-thinned volume, as the peso firmed on fresh positive U.S. economic data pointing to a strengthening recovery.
US Congress Raises Debt Ceiling to $12.4 Trillion
 Laurie Kellman
The Senate voted Thursday to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Barack Obama has promised to address next year.
Mexico Shopping Fever Just Illusion
 Jean Luis Arce
Mexican stores are packed with shoppers this Christmas, but slashed prices and big promotions mean cash registers are ringing up meager sales, underscoring a fragile recovery from a punishing recession.
Poll: Jobless Rate Slowly Recovers
 Reuters
Mexican unemployment likely fell slightly in November, according to a Reuters poll, with labor markets showing signs of recovery as the economy emerges from a deep recession.
New Year Brings Tax Increases in Mexico City
 Magnolia Velázquez
Next year will be a year of price increases across all Mexico City Government services. Increases won't only be limited to Metro fares and water services, but will be extended to include parking meter fees and vehicle ownership tax.
Cuba Travel Ban Costing U.S.
 Associated Press
U.S. tourism companies could take in at least $1.1 billion a year on trips to Cuba if Washington didn't ban most of its citizens from visiting the island, officials said Wednesday during a video conference with American tour operators.
Mexico Recovers from Flu, Financial Crisis
 Alexander Manda
The A/H1N1 flu outbreak and the world financial crisis battered Mexico's economy in 2009, but there are indications of a recovery in 2010 thanks to a rebound forecast for Mexico's main trading partner, the United States.
Mexico 2010 Inflation Seen at 5.04 pct - Cenbank Poll
Patrick Rucker
Private forecasts for Mexican 2010 inflation increased in December due to the impact of higher consumption taxes, a central bank survey showed on Friday.
Gold Coins to Bear the UN Logo
 Gold.org
The United Nations (UN) has licensed the minting of gold bullion coins bearing its logo to provide a "public option" world savings currency.
Colombian Pyramid Scheme Mastermind Gets 30 Years
 Associated Press
A man whose pyramid investment scheme bilked fellow Colombians out of hundreds of millions of dollars has been sentenced to 30 years and eight months in prison for a money-laundering conviction.
AeroMexico Named “Best Airline in Mexico” for 4th Consecutive Year
 AeroMexico
For the fourth consecutive year, AeroMexico, the global airline of Latin America, has been selected as the “Best Airline in Mexico” for 2009 by the readers of Business Traveler magazine.
Drug Money 'Saved the Banks from Collapse' During Global Crisis, Claims UN Drugs and Crime Chief
 Anny Shaw
Antonio Maria Costa, head of the UN Office on Drugs and Crime, told the Observer that there were signs that some banks were rescued by billions of dollars that 'originated from the drugs trade and other illegal activities.'
American Casino
 The Real News Network
Andrew Cockburn co-producer of the documentary "American Casino" talks about the sub-prime crash.
Leftist Latin American Bloc to Begin Using Its Own Virtual Currency, the “Sucre”
 Associated Press
Members of a leftist bloc of nine Latin American nations said Saturday they plan to use a new currency dubbed the “sucre” for trade among themselves starting in January.
Bayer Admits GMO Contamination is Out of Control
 Greenpeace International
Bayer has admitted it has been unable to control the spread of its genetically-engineered organisms despite 'the best practices to stop contamination.'
Join the Gay Real Estate Directory
 Saffron Trail
We need knowledgeable, professional gay or gay friendly real estate agents, brokers, mortgage lenders, home appraisers, insurance agents, and home inspectors, home security, pest and termite control experts, professional painters, home decorators and stagers and so much more, who would look forward to serving our gay community.
GAP Arranges Financing for Capital Investments at Four Airports
 Comtex
Mexican airport operator Grupo Aeroportuario del Pacifico S.A.B. de C.V. (GAP) has arranged an additional credit line for four airports, the company said this week.
Slim Says Now Is Good ‘Moment to Invest’ in Mexico
Peter Millard
Billionaire Carlos Slim, who controls Mexico’s biggest wireless and land-line phone companies, said now is a good time to invest in the country because of its low interest rates, a favorable exchange rate, and government policies that promote fiscal stability.
Mexican Tycoon Slim Supports Carstens Nomination
 Noel Randewich
Mexican tycoon Carlos Slim said on Thursday he supports the nomination of Finance Minister Agustin Carstens to head the central bank and dismissed concerns about the bank's independence.
Carstens to Head Central Bank of Mexico
 The News
President Felipe Calderon on Wednesday nominated Finance Sec. Agustin Carstens to head the central bank of Mexico (Banxico), a widely expected move that the Senate will vote on.
U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak
 Dan Levy
U.S. homeowners have lost about $5.9 trillion in value since the housing market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com.
BBVA Teams Up with Mexican Convenience Stores
 Noel Randewich
The Mexican unit of Spain's BBVA said on Tuesday it is partnering with bottling company FEMSA to let clients make cash deposits and pay their credit cards at the drink maker's convenience stores.
Mexico Shuts Down Canadian Mine
 Shannon Montgomery
A Canadian mine in Mexico has been shut down over environmental concerns, while new details are emerging about how three men arrested in the death of a vocal anti-mining activist are connected to the Calgary firm.
Mexican Airport Operator GAP Reports 2.9% Decline in November Passenger Traffic
Comtex
Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (GAP) reported on Monday that total passenger traffic at its airports in November 2009 fell by 2.9% compared to the same month last year.
Mexico's Banks Seen Lending 15 Pct More Next Year
 Noel Randewich
Mexican bank lending is likely to expand 15 percent next year, led by business credit and mortgages as the economy recovers from a recession, the country's bank regulator said on Monday.
IRS Sells Indian Tribe's Land to Settle Debt
 Chet Brokaw
The Internal Revenue Service last week auctioned off a large swath of land owned by an impoverished Indian tribe to help pay off more than $3 million in back taxes, penalties and interest - a sale the tribe says is illegal under federal laws protecting Indian land.
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