July 2010
IMSS is accepting court cuts to worker pensions
Reforma - The Mexican Social Security Institute (IMSS) has decided to abide by the Supreme Courts decision that cut the pensions of a half million Mexican workers who are retired recently or will retire in the coming months and years. As of now, a worker can receive only 17,238 pesos ($1,362) a month.
www.reforma.com/negocios/articulo/568/1134369/
Grupo Mexico to restart Cananea production in Sept.
El Semanrio - Grupo Mexico said it plans to restart copper production at the Cananea mine in September after a more than two-year dispute with union miners. The company plans to reach a capacity of 180,000 tons at the Sonora mine by February 2011.
www.elsemanario.com.mx/news/news_display.php
Union workers at Pemex get 4.9% wage hike
Sentido Comun - Unionized workers at Petroleos Mexicanos, the state oil monopoly, agreed to a wage increase of 4.9 percent plus 0.4 percent in performance bonuses. The company and union also signed an agreement that commits workers to a new level of productivity.
www.sentidocomun.com.mx/breves.phtml
Mexico City handles more cargo, fewer passengers
Sentido Comun - The International Airport of Mexico City reported a 26 percent growth in cargo operations during the first half of this year. However the number of domestic and international passengers declined by 0.6 percent to total some 11.7 million people.
Caja Tepic allowed to operate as savings and loan
Sentido Comun - The National Banking and Securities Commission approved the creation of a new savings and loan institution that will be known as Caja Tepic. Mexico now has 57 savings and loan companies, 38 financial companies, a confederation and 13 federations, which together serve more than 5.06 million people.
U.S. exports 146,000 tons of corn to Mexico
Sentido Comun - The U.S. Department of Agriculture said that 146,000 tons of corn have been exported to Mexico. Of that total, 30,000 tons are to be delivered in the 2009-2010 marketing year, which begins Sept. 1, and 116,000 tons for delivery in the business year 2010-2011.
Government is pursuing 22 cases of tax evasion
La Cronica de Hoy - Mexico's attorney general's office has opened 22 cases of tax evasion against outsourcing companies and their advisers for failure to pay more than 14 billion pesos ($1.1 billion) in taxes, of which only 336 million pesos ($26.52 million) has been recovered.
Bolsa's Tellez predicts upswing rest of year
La Jornada - Luis Tellez, president of the Bolsa Mexicana de Valores (BMV), said that according to the companies' financial results, the Mexican economy will perform better in the second half of the year. Most of the publicly traded companies, will expand, he said.
Banamex chief criticizes limits on fees
La Jornada - Grupo Financiero Banamex's director said Mexican financial authorities are going in the wrong direction in limiting bank charges. Enrique Zorrilla said competition between the banks in the most effective way to reduce the fees that are charged.
MAC donating cosmetics proceeds to women of Juarez
La Cronica de Hoy - The MAC cosmetic company pledged to donate the proceeds from a line of products launching Sept. 15 that were inspired by the deaths of hundreds of women in Ciudad Juarez and to support the fight against gender violence in Mexico.
