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Articles in February, 2003 issue of Internet Securities

• Pemex revenues rise 13% y/y in 2002.
• SHCP: 51% of income will be collected in first half of year.
• Growth in Telcel client base slowing down.
• German business conference in may will be opportunity to form contacts.
• Private sector criticizes Fox.
• Banrural bankruptcy would increase fiscal deficit to 1.2%.
• CNI to seek advertisers to help recover.
• Treasury reports that states had 20bn peso shortfall in shared federal revenues.
• First agricultural talks ready for Thursday.
• Competitiveness plans must be implemented quickly.
• Bartlett warns of future power cuts.
• Private sector lobbying for reforms stalled.
• Economic problems will accentuate depreciation of peso says CEESP.
• Voluntary Redundancy Fund ready for use.
• Ford, DaimlerChrysler and GM issue debt for US$73 million.
• January inflation 0.40%; lowest in 33 years.
• Long war in Iraq will affect exports.
• CFE saves 700,000 barrels of oil per year with Puebla geothermal power plant.
• Rural development spending to rise 18.5%.
• Pemex will be forced to restrict natural gas sales.
• Pemex and Schlumberger sign anticorruption accord.
• Tourism activity rebounds.
• Mexico was top destination for cruises in 2002.
• Unilever enters US$250mn fabric softener market.
• Travel agencies expect compensation for drop in commissions.
• Rubber workers union accepts 3% salary raise.
• Former U.S. official pressures Mexico for support against Iraq.
• World Bank says solidity of Mexican economy will limit effects of war.
• More U.S.-Mexico water problems expected.
• Disney and Delta team up to bring Mexicans to Orlando.
• Telcel unchallenged by Telefonica.
• Passenger flow in Aeroportuario Centro Norte airports rises 7% in January.
• Free Trade Agreement expected with Japan this fall.
• 530,000 homes to be built in Mexico this year says Canadevi.
• Bidding begins on service contracts in gas sector.
• U.S. Ambassador says Bush will not punish Mexico.
• Transnationals interested in natural gas service contracts.
• Telefonica Moviles gambles on GSM network in Mexico.
• New oil terminal in Progreso close to opening.
• Telefonica Moviles to invest more than US$500 million on GSM.
• U.S. farmers open to reconsideration of Nafta.
• CIDE criticizes Mexican backwardness is telecommunications.
• Rural Mexico needs long-term vision.
• IFE ready to rule on Pemexgate scandal at end of March.
• Garcia de Alba named undersecretary for small and medium businesses.
• Telefonica Moviles de Mexico gets US$100-million loan.
• Mexico receives US$7.31bn in money orders in Jan-Sept.
• BBVA-Bancomer: 70% of Mexican rural workers live in poverty.
• S&P takes note of need for infrastructure.
• Capital of credit unions shows increases.
• MaxiGas will help companies convert to natural gas.
• SanLuis sales drop, but debt restructuring concluded.
• Retail and wholesale sales down in December.
• Reserves could be used to reduce debt.
• Santander to be de-listed from Mexico City Stock Exchange.
• Court rejects Thermogas appeal against Tractebel licenses.
• IMEF: political uncertainty not only factor in peso's decline.
• Banxico concerned about exchange rate volatility.
• Peugeot to decide this year whether to build Mexico plant.
• Treasury: Seasonal factors responsible for variations in employment.
• Govt. to take U.S. before WTO over cement exports.
• Banrural channels 3.8bn pesos to productive agriculture projects.
• Encouraging financial figures for start of Feb.
• Nafin to implement support program for government suppliers.
• Mexico has macroeconomic stability, but minimal growth.
• OHL to construct highway system in Mexico City.
• Treasury lost 60% of lawsuits against taxes in 2002.
• TV Azteca-Canal 40 conflict will soon be back in court.
• IEPS revenues insufficient in 2002.
• Cananea strike ends; Grupo Mexico concedes to miners' demands.
• Telmex workers demand 10% salary raise.
• Mexico temporarily suspends bean imports.
• Macroeconomic stability not enough to attract investment.
• Carstens says government has not abandoned fiscal reform.
• Natural gas program concludes distribution stage.
• Fox asks rural groups not to distance themselves from discussion.
• SanLuis says insolvency proceedings have not begun.
• Financial intermediaries seek right to expand.
• INEGI reports nil industrial growth in 2002.
• Corporacion Geo expects income to grow 8-10% for 2002.

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