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Articles in November, 2002 issue of Internet Securities

• PAN proposes taxing sectors that are currently exempt.
• Maxcom grows, but not enough.
• Afores administrate 28.4 million individual accounts.
• Mining production drops 10% in Jan-Aug.
• Differences over war with Iraq do not affect U.S.-Mexico trade.
• CCE will not accept payment in kind from Canacintra.
• Cemex's luck changes after buy recommendation from UBS Warburg.
• Banco Azteca opens 4,600 Guardadito accounts on first day.
• Deputies move to eliminate luxury tax.
• Greater mobile phone density in northern states.
• Structural reforms will have little impact on FDI.
• Third time may be a charm in sale of Cintra.
• Govt. dependencies need to coordinate IT investments better.
• Treasury: Financial requirements of public sector equal 43% of GDP.
• Underground economy holds significant weight, reported CEESP.
• 2003 budget is insufficient, say business leaders.
• Tractebel to invest more than US$200mn in Mexico.
• TV Azteca wins partial victory in CNI case.
• AHMSA seeks agreement with creditors after shareholders assembly.
• Seven British companies interested in airport project.
• Security and Agriculture officials complain that budget funds are insufficient.
• Banxico reports 71.8% of companies operate without bank credit.
• Bank for International Settlements opens Mexico City office today.
• Increase in salary credit will hit companies hard.
• Govt. proposes that 20% tax on fructose-based beverages be maintained.
• Treasury Commission begins working on Income Law proposal.
• Mayan Riviera will be "most important tourism region in the world".
• Pemex appoints company to design document for auction of petrochemical facilities.
• IMF wants to push 'temporary bankruptcy' plan to offset global crises.
• Infonavit to grant 300,000 housing loans in 2003.
• Ford to invest US$1.8bn in Sonora plant.
• GFNorte to issue 1.5bn pesos to strengthen itself against risk.
• Mexican-French trade increasing modestly.
• Manpower says Mexico top in employee loyalty.
• VW confident that Beetle Cabriolet will boost 2003 production.
• Labor Reform bill put on the backburner.
• Televisa eyes investment fund business.
• Fitch rates Union de Credito Progreso at "BB-(mex).
• Five states decide against taxes.
• Mexico to become main exporter of Volvo buses.
• 60.1% of Mexican firms' credit received from banks.
• Mexico imports nearly half its food.
• Nokia ready for 2003.
• S&P rates 1.5bn-peso Cemex issue at "mxA-1+".
• Gigante and PriceSmart announce inauguration of two stores.
• Fed Govt. announces elimination of subsidies on water.
• Nafin has attended 167,000 small firms so far in 2002.
• OECD: Mexican economic growth to recover less than 5% in 2003.
• BBVABancomer: Mexico will only grow 6% if inflation is lower than 3%.
• Treasury to face deluge of lawsuits against luxury tax.
• Coffee industry on high-wire.
• Derbez presents competition program for footwear industry.
• Satmex: "We have not requested rescue".
• Cinemex refuses to up prices.
• Volkswagen rules out hiring new staff before 2004.
• Retail and wholesale sales drop in September.
• S&P rules out impact on Telecom rating from purchase of telephone licenses in Brazil.
• Merrill Lynch: 2003 Budget 2003 will be passed on Dec. 15.
• Analysts awaiting interest rate hike to soothe rising inflation.
• No renegotiation of Nafta, says U.S.
• HSBC to enter money order market in Mexico.
• Treasury could obtain 3 billion pesos per year with tax on LP gas.
• Pemex reports 2.6% increase in gas production between Jan-Oct.
• Electricity Undersecretariat: CFE not able to finance investments alone.
• House prices fall because of drop in employment.
• Bital expects to grant 56,000 automobile credits during 2002.
• Pemex to control corruption in bidding processes.
• Employment in maquiladoras falls 13.6%.
• TV companies move into financial market.
• Savia continues to negotiate extension of debt repayments.
• Tourism to generate income of US$8.4bn for 2002.
• Federation owes 14bn pesos to states.
• GAM confident of winning appeal against expropriation of sugar mills.
• Coincident index contracts.
• PAN insists on taxing food and medicine.
• IPAB to transfer 5 billion pesos to HSBC per year in interest.
• Mortgage loans to take off in 2003.
• Televisa denies preferential treatment for PRI.
• Nocturnal works to renovate runway start at Mexico City's international airport.
• Rangel says austerity will continue until tax reform is passed.

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