Mexico Senate committees approves tax hike
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Mexico
Posted October 30th, 2009 at 3:12 pm
Mexico Senate committees approves tax hike
* Senate committees pass increase in value-added tax
* VAT hike may not be enough to stave off rating downgrade (Adds quotes from analyst and lawmaker, peso level)
MEXICO CITY, Oct 30 (mexico.vg) - Mexican Senate committees have approved a watered-down version of President Felipe Calderon's proposal to raise consumption taxes in order to reduce Mexico's dependence on its waning oil industry....
Mexican Government proposal to raise consumption taxes?
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Mexico
Posted October 28th, 2009 at 11:38 am
Senators from Mexico's main opposition party met for the third straight day on Wednesday to debate rejecting a government proposal to raise consumption taxes ahead of a deadline to pass the law.
Lawmakers from Senate committees were due to meet with Finance Minister Agustin Carstens following the meeting to discuss the proposal.
Senators from the centrist Institutional Revolutionary Party, or PRI, have spent the week mulling conservative President Felipe Calderon's proposal to hike taxes as ...
Mexico nabs “La Familia” leader who headed Michoacan operations
Police arrested a man Tuesday who they say headed the operations of the "La Familia" drug cartel in the western state of Michoacan. Abel Valadez Oribe, 32, was reportedly heading for a cockfight when police stopped his car and arrested him, authorities said. They said police were tipped to his whereabouts by several informants.
Police said that Oribe, known as "El Clinton," was allegedly the mastermind behind several murders, including the assassination last year of Salvador Vergara, the 33-ye...
Beer volumes in Mexico may recover, exports too
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Businesses
Posted October 26th, 2009 at 5:04 pm
Beer volumes in Mexico may recover, exports too
MONTERREY, Mexico, Oct 26 (Mexico Beer News) - Mexican brewer and bottler FEMSA is expected to post a 29 percent jump in third-quarter net profit on the back of solid soft drink sales and expansion from its Oxxo convenience stores.
four analysts forecast that FEMSA
(FMSAUBD.MX) (FMX.N) earned, on average, 2.604 billion pesos
($193 million) in the July-September period, compared with
2.020 billion pesos in the same quarter of last year.
"On...
Top Mexican cartel leader arrested, military says
Mexican soldiers have captured a top leader of one of the nation's most ruthless drug cartels, the government's military announced.
Carlos Adrian Martinez Muniz, identified as the No. 2 person for the Zetas drug cartel in the Monterrey area in northeastern Mexico, was arrested after officials received an anonymous tip, the nation's Ministry of Defense said Wednesday.
In addition to drugs and weapons, he was carrying deposit slips for up to 7,150 people, the ministry said....
Telecommunications giant Telefonos de Mexico SA
Mexico's Telmex: More computers could help profits. MEXICO CITY -- Telecommunications giant Telefonos de Mexico SA said Thursday that the only way to continue its gains.
Investments expected to increase amid rising competition.
Mexico's largest fixed-line telephone company, Telefonos de Mexico SA, said Thursday that it doesn't plan to change its guidance for capital expenditures of eight billion pesos ($619 million) in 2009 even after making heavy investments earlier in the year, accordin...
Juárez Cartel Loses Some Street Soldiers in Chihuahua
Members of Joint Operation Chihuahua captured three Juárez Cartel suspects while responding to incidents Oct. 8 and 9, the Mexican army said in a statement. Officials said Martinez Gordillo, Martinez Segura and Sierra said they killed people who belonged to the Joaquin "Chapo" Guzman cartel, including a group called "Gente Nueva" (new people), as well as members of the Mexicles and Artistas Asesinos gangs. The Guzman cartel is battling the Carrillo Fuentes Cartel aka Juárez Cartel for contr...
Ultimate Post-Divorce Vacation in Mexico?
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Tourism
Posted October 20th, 2009 at 2:37 pm
Our first thought was a post-divorce vacation. Turns out, we're not the only ones. The Grand Velas Resort in Mexico offered the Ultimate Divorce Vacation.
Velas Resort in Mexico offered the Ultimate Divorce Vacation last year, complete with a lavish spa treatments, ocean-side views, and a consultation with a jeweler on next steps for those engagement and wedding bands....
H1N1 Vaccine Tests in Mexico
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Mexico
Posted October 20th, 2009 at 1:20 pm
H1N1 vaccine, a tiny biotechnology firm, is turning the shortage into an opportunity. It says it will soon start clinical trials of its experimental vaccine for the 2009 H1N1 influenza in Mexico.
Any other year, Novavax's effort would have seemed like a long shot. Its vaccine is genetically engineered and produced in insect cells -- pretty different from producing shots in chicken eggs, as most vaccine makers now do. Regulators might have wanted more proof that the method could work. The M...
Mexico hopes for deep water oil production in 2014
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Oil
Posted October 16th, 2009 at 5:40 pm
Mexico's state oil company hopes to start deep-water oil production in the Gulf of Mexico by 2014.
Petroleos Mexicanos official Gustavo Hernandez says the company has found crude oil and gas in some of the 11 wells drilled in deep Gulf waters. He says the company, known as Pemex, hopes to start gas production in 2013....
