March 2010
MEXBIZNEWS RESUMES PUBLICATION MONDAY Passion and traffic: Holy Week begins
By Daniel Hernandez
Los Angeles Times
It is the start of Semana Santa, or Holy Week, in Mexico, meaning a barrage of traditional Easter festivities and an exodus to Mexico's coasts or resort towns for city slickers with means.
Streams of automobiles fled the urban basin over the weekend for popular Semana Santa destinations such as Acapulco or Cuernavaca.
Thursday and Friday are official holidays, and authorities expect more residents to scoot out of town for the four-day weekend. (Like an unwanted holiday hangover, the Monday after Easter is often taken as a holiday as well). Conversely, tourism to Mexico City ticks upward during Holy Week, creating a disorienting state of emptiness in the city -- emptiness with seemingly more vehicular traffic.
For those remaining in town, the municipal government is once again opening up artificial beaches with pools.
By far, the marquee Semana Santa event in Mexico is the Passion held at the Cerro de Estrella in Mexico City's Iztapalapa borough, the most populous in the Federal District. It is considered among the biggest Passion representations in the world, drawing about 2 million visitors, with the biggest crowds showing up for Good Friday, when a local "Jesus" is crucified -- with real nails and real blood. This year will be the 167th Passion held there.
For a certain kind of jaded Mexican capitalino, however, the arrival of Semana Santa is not fondly looked upon. Writing in the daily Milenio, Juan Alberto Vazquez lists "What We Hate About Holy Week" (article is in Spanish). One thing he hates:
"That the newscasts, not having any news to share, gives us the same old stories about the beaches, the representation in Iztapalapa, and the same empty papal messages."
latimesblogs.latimes.com/laplaza/2010/03/semana-santa-mexico.html
Mexican states, cities receive additional funds
El Economista - In January, Mexican states and municipalities received additional 1.34 billion pesos ($10.93 million, 3.9 percent more than originally estimated, because federal tax collections were higher than than estimates made in 2009.
eleconomista.com.mx/finanzas-publicas/2010/03/30/estados-reciben-39-mas-participaciones
Mexico and Spain sign energy agreement
El Financiero - Mexico and Spain have signed a memorandum of understanding to strengthen bilateral cooperation in the area of hydrocarbons, electricity, energy planning, renewable energy, energy efficiency and nuclear energy.
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
Toy industry expects 4 percent growth this year
CNNExpansion.com - Mexico's toy industry is confident that after the recession, an authorization to increase imported toys will boost growth by 4 percent this year. The reforms push the maximum amount of toys that may be imported duty free from $50 million to $60 million.
www.cnnexpansion.com/economia/2010/03/29/sector-del-juguete-crecera-4-en-2010
Shops, hotels, restaurants along U.S. border fill during Holy Week
Submitted by mexbiznews on Tue, 03/30/2010 - 4:07am
CNNExpansion.com
Thousands of Mexican vacationers have begun crowding the shops and resorts in the communities of South Texas at the start of the Easter holiday period.
Border authorities point to "a busy week" ahead.
The wave of Mexican tourists every year during this holiday period represents a major injection of dollars to malls, parks, resorts, hotels and restaurants in border communities in the United States.
And now, Mexicans can buy more duty free. Recently the country's Tax Administration Service (SAT) expanded from $75 to $300 the amount on which duties and taxes are being dropped during the Easter period.
Kessel expects Supreme Court to back Pemex pacts
Bloomberg - Petroleos Mexicanos, Latin America’s largest crude producer, is likely to win a Supreme Court ruling allowing it to offer performance-based contracts to oil companies, Mexican Energy Minister Georgina Kessel said. The first tender might be offered this year.
MEXBIZNEWS RESUMES PUBLICATION ON MONDAY Passion and traffic: Holy Week begins in Mexico
Submitted by mexbiznews on Tue, 03/30/2010 - 3:35amBy Daniel Hernandez
Los Angeles Times
It is the start of Semana Santa, or Holy Week, in Mexico, meaning a barrage of traditional Easter festivities and an exodus to Mexico's coasts or resort towns for city slickers with means.
Streams of automobiles fled the urban basin over the weekend for popular Semana Santa destinations such as Acapulco or Cuernavaca.
Thursday and Friday are official holidays, and authorities expect more residents to scoot out of town for the four-day weekend. (Like an unwanted holiday hangover, the Monday after Easter is often taken as a holiday as well). Conversely, tourism to Mexico City ticks upward during Holy Week, creating a disorienting state of emptiness in the city -- emptiness with seemingly more vehicular traffic.
For those remaining in town, the municipal government is once again opening up artificial beaches with pools.
By far, the marquee Semana Santa event in Mexico is the Passion held at the Cerro de Estrella in Mexico City's Iztapalapa borough, the most populous in the Federal District. It is considered among the biggest Passion representations in the world, drawing about 2 million visitors, with the biggest crowds showing up for Good Friday, when a local "Jesus" is crucified -- with real nails and real blood. This year will be the 167th Passion held there.
For a certain kind of jaded Mexican capitalino, however, the arrival of Semana Santa is not fondly looked upon. Writing in the daily Milenio, Juan Alberto Vazquez lists "What We Hate About Holy Week" (article is in Spanish). One thing he hates:
"That the newscasts, not having any news to share, gives us the same old stories about the beaches, the representation in Iztapalapa, and the same empty papal messages."
latimesblogs.latimes.com/laplaza/2010/03/semana-santa-mexico.html
Femsa gets approval for sale of beer unit
Reuters - Mexico's FEMSA has gotten approval from the country's antitrust regulator for the sale of its beer business to Dutch brewer Heineken, the bottler said on Monday. FEMSA is selling its beer unit as it focuses on expanding its soft-drink and convenience store businesses.
Homex agrees to alliance with Indian builder
Reuters - Mexico's Homex, which specializes in mass-producing homes that sell for less than $40,000, said on Monday it intends to partner with Indian construction company Puravankara on new public housing projects in India. The first project being looked at will be in Chennai, a city in southern India.
Peso hits 17-month high, stocks at record
Reuters - Mexico's peso firmed to its strongest in more than 17 months on Monday and stocks closed at a record high as global fears about Greece ebbed and U.S data boded well for a recovery in Mexico's exports. The peso added 0.32 percent to 12.43 per U.S. dollar, while the IPC stock index closed up 0.81 percent to 33,416.10 points, its strongest close on record.
