Amend automotive agreement Is expected to reach an agreement with Brazil on the Commerce of the automotive industry Mexico City (MAR/02/2012)-Mexico expected next week to reach agreement with Brazil on the renegotiations of a Treaty on trade in cars, which were complicated by the Brazilian demands to introduce import quotas to curb its trade deficit. The Secretary of economy, Bruno Ferrari, said that Mexico is willing to renegotiate under “terms of reciprocity”, and technical missions of the two countries will gather at Mexican land next week. “We would like to...

The budget revenue of the public sector were of 316.9 billion pesos The repeal of tax ownership, tax revenue decreasing 0.1 percent According to a preliminary report from the Secretariat of finance and public credit public finances and debt, if you exclude investment in Pemex, the public balance sheet presents a surplus of 18.8 billion pesos Mexico City (MAR/01/2012)-the Secretariat of finance and public credit (SHCP) reported that January 2012 public finances recorded a surplus of 3.6 billion pesos; While the primary balance was superavitario in 29.3 billion. According to a...

Resources will be allocated to work as the planning for disaster risk reduction. FILE It will benefit 3,000 rural indigenous communities It will support policies to strengthen the resistance to extreme situations, in particular due to climate change WASHINGTON, USA (MAR/01/2012)-the World Bank (WB) announced today the approval of a loan by $ 300 million, the first of its kind in support of policies to strengthen resistance to extreme situations, in particular because of climate change.   The loan will benefit 3,000 rural indigenous communities and help planning, disaster risk...

The Agency said that Mexico Santander was highly strategic. FILE Standard and Poor’s degrades the rating of 15 Spanish banks Because both banks are based on your individual credit quality In fact, noted the international rating agency, the individual credit profiles of both banks are superior to their respective sovereign ratings Mexico City (FEB/13/2012)-ratings for banks Santander in Mexico and Brazil are not affected by the recent decline in its matrix in Spain, Banco Santander S.A., pointed out & Standard Poor’s (S & P). “Our ratings of both...

According to the Agency the rating of the Bank BBVA fell from level and this could lead to new degradations in the medium term. FILE Among those affected are Santander, BBVA, Bankia and CaixaBank According to Fitch, the rating of Santander lost two steps, while BBVA, Bankia and CaixaBank dropped a level, most of them with negative Outlook MADRID, Spain (13/FEB/2012)-& Standard Poor’s credit rating agency downgraded Monday the note of 15 Spanish banks, including leaders in the sector, after having lowered the note by Spain on 13 January. Affected entities include the...

‘ Use the cards as means of payment ‘, which means to spend on what you have budgeted. FILE They suggest 12 financial purposes for the year that is about to start It is no good to eat grapes or use ‘chones’ yellow if lack of healthy financial habits, says (30/Dec/2011) Mexico City.-the National Commission for the protection and defence of the users of financial services (Condusef) recommended 12 effective actions to improve finances and start 2012 with the right foot. Through its ‘Financial education’ program, says that even though users put...

Infonavit published today in the Official Journal of the Federation the reforms its law. FILE Felipe Calderón signed Decree on reform of the law of Infonavit Approved Infonavit to return contributions workers SEE DECREE Provisions come into force tomorrow Friday It provides access to a second funding and that those who do not use their credits can withdraw the resources provided Mexico City (12/Jan/2012)-the Institute of the national of the Housing Fund for workers (Infonavit) published today in the Official Gazette of the Federation reform its law to provide, inter alia,...

The plan also includes an increase of more than 15% tourism revenues. EFE The Cuban economy will grow 3.4 per cent, said economy Minister, Adel Izquierdo The business plan for 2012, approved Friday by Parliament, envisages to save ‘some 120 million dollars in imports of food’ Havana, CUBA (23/Dec/2011)-the Cuban economy will grow 3.4% in 2012, despite having been this year below 3% expected, because of failures in the construction and Assembly for investment plan, estimated the economy Minister, Adel Izquierdo. “The gross domestic product (GDP) of Cuba will...

In the case of banks, the fines are improper payment of commissions. FILE Banxico fine Sofome and banks for opacity Sofome gaining ground on the financial market Sofome exceed the Bank as the most fined sector the Condusef Non-regulated Sofome outnumber banks in non-compliance Banking institutions have a total of 432 sanctions with value of 11.9 million pesos Mexico City (25/Jan/2012)-the amount of the fines imposed on the Mexican financial system, grew up 37.8 percent in 2011 compared with the previous year, period in which the Sofome have outperformed banking, reported...

The increase will be based on the production of new housing. FILE They estimate growth to 4.5% in the industry Developers expected that 2012 will be a year of Frank growth for the sector Mexico City (21/Dec/2011)-the recent reforms to the law of Infonavit will boost the real estate sector in the country, with growth to 4.5% in 2012, said the President of the Mexican Association of professionals real estate (AMPI) Mexico City, Alejandro Kuri.   In press conference, stressed that “2012 will be a year of French growth” for the real estate sector, despite the forecast...

You borrás said that the second mortgage has potential long term of between 1 and 2 million credits. It would allow beneficiaries to apply for another loan to buy a home It would grant of 490 to 530 thousand credits 2012 Reform law would raise up 17 per cent goal 2012 and extended range of investments in the housing finance agency MONTERREY, NUEVO LEÓN (NOV/30/2011)-the Infonavit, the greater in Mexico housing finance agency, plans to grant in the 2012 between thousand 490 and 530 thousand credits, one higher rank than expected for this year, which could also rise up to 17...

Leasing, loans on payroll and credit to all types of small businesses are the main niches of the Sofome. FILE Some 400 Sofome have registration in Jalisco The speed and proximity to provide a financial service to its clientele are comparative advantages that have facilitated the emergence and proliferation of the same GUADALAJARA, JALISCO (07/SEP/2011)-gradually gain space in the financial sector-financial corporations of multiple object (Sofome), for his great ability of attention to certain niches of the market of financing, such as leasing, loans on payroll or credit to all...

The rate of claim was 18 claims for each 100 thousand contracts of credit cards. FILE Collection management was one of the main causes that users submitted some controversy I claim Users came to the Agency to apply for legal technical assistance in their complaints Mexico City (20/Dec/2011)-Credit cards were the financial product with the highest number of complaints, disputes and attention to users, revealed the National Commission for the protection and defence of the users of financial services (Condusef).   He explained that 226 thousand 363 attention of multiple banking...