In a world where tariffs and stock exchanges meet numbers and percentages, Mexico has just pulled off a move that's sent airport operators stumbling down a rabbit hole. A new tariff regulation has been announced, and it's got the aviation industry's shares on a rollercoaster ride that Alice herself would find bewildering.
Down the Rabbit Hole with Airport Tariffs
The government, like a curious Cheshire Cat, decided to team up with Grupo Aeroportuario del Sureste (Asur), Grupo Aeroportuario del Pacífico (GAP), and Grupo Aeroportuario Centro Norte (OMA) to create a new tariff regulation. And what's this regulation? Well, it's a tax of 9 percent of their gross income. Ka-ching!
But it's not all roses and daisies for our airport operators. The news hit them harder than a Mad Hatter tea party hangover. GAP's shares decided to tumble down the rabbit hole, losing 2.67 percent on the Mexican Stock Exchange. They're now worth 233.22 pesos, but don't ask the White Rabbit for any explanation – he's running late. Asur, on the other hand, stumbled and fell, losing 1.96 percent, making each share worth 381.67 pesos.
OMA, the sly fox in this story, managed to stay neutral. Its shares barely moved, with a meager 0.19 percent advance, now standing at 155.58 pesos. If you ask me, that fox knows something we don't.
So, what does all of this mean for the Mexican Stock Exchange, you ask? Well, it's like the Cheshire Cat decided to grin a little less wide. The BMV's main index fell by 0.95 percent, sliding beneath the mystical 49 thousand unit level. It's like we've entered a Wonderland of financial uncertainty.
But this regulation isn't just a blip on the radar. It's been more than two decades since the last time they tinkered with these tariff rules. It's like a new page in a storybook that's been stuck on the same chapter for ages. The Ministry of Infrastructure, Communications, and Transportation (SICT) wants everyone to know this is a significant step in the government's quest to improve airport concessions. Will it be a happy ending for all?
Texas Extends Its Fence, and Insecurity Gets a Makeover
Meanwhile, in a land far, far away, Texas Governor Greg Abbott extended his controversial wire fence along the border with Ciudad Juárez. This act of defiance isn't making friends with the Mexican government. It's like they're building their own Great Wall to keep out migrants from Ciudad Juárez, and no one is happy about it.
While airport tariffs and border fences play out, the National Institute of Statistics and Geography (INEGI) reveals an intriguing survey. Apparently, 61.4 percent of Mexico's population feels unsafe in their cities during the third quarter of 2023. It's a bit like a dark cloud hanging over a sunny day. But what's even more interesting is that the cities feeling the most insecure are the ones governed by the '4T' politicians. On the flip side, those governed by opposition parties or independents are having a good laugh at the insecurity ratings, with some as low as 15.8 percent. It's a tale of two cities, it seems.
Financing Fun and Fiscal Adjustments
Just when you thought the story couldn't get any weirder, Morena and its allies in the Chamber of Deputies are doing a jig with the Income Law. It's got resources worth a staggering 9 trillion 66 billion pesos, but the opposition is not amused. They're complaining about the 1.9 trillion pesos of debt expected in 2024. Morena's Beatriz Pérez is playing the humble card, admitting they'll need “additional financing” to complete their mega-projects. It's like trying to fit the Jabberwocky into a shoebox.
And if you thought that was bizarre, Morena and the Ministry of Finance and Public Credit (SHCP) have agreed to adjust the increase in the savings tax. A rate of 0.5 percent each year was decided instead of the mind-boggling 1.48 percent in the original proposal. It's like they're adjusting their hats to make them fit better. After all, the current withholding tax is a mere 0.15 percent, but the proposal was almost a 900 percent increase! Why, oh why?
Farewell to a Controversial Union Leader
In a twist worthy of a telenovela, Carlos Antonio Romero Deschamps, the former leader of the oil union, has passed away at 79. A controversial character in Mexican history, he was involved in the infamous Pemexgate scandal, a tale of union resources diverted for political gain. It's like a never-ending soap opera, with intrigue, politics, and piles of money.
During his 26-year reign, this union organization became a financial behemoth, receiving millions of pesos in support. In 2020, it received a staggering 6 million pesos a month, under clause 251 of the collective bargaining agreement, and another 1,200 million pesos per year for union dues. Pemex estimates they send around 300 million pesos annually to the union.
Gray Markets and Shady Cell Phones
In the realm of mobile phones, Samsung, Motorola, and ZTE have announced they'll block cell phones purchased in the “gray market.” But the plot thickens as the Federal Consumer Protection Agency (Profeco) and the Federal Telecommunications Institute (IFT) have asked them to stop the measure. It's like a standoff in a Wild West movie, with the regulators playing the sheriffs trying to maintain order.
They argue that the measure, as it stands, affects consumers' rights. Instead, they want the companies to form a working group to combat the gray market without harming consumers. It's like trying to find the right blend of spices for a spicy Mexican salsa.
The Case of Mario Aburto
Now, in a case that seems pulled from a legal thriller, the Attorney General's Office of Mexico City has challenged the annulment of the sentence handed to Mario Aburto, the confessed assassin of presidential candidate Luis Donaldo Colosio. After 29 years in prison, Aburto might be released earlier than expected. It's like a twist that leaves everyone on the edge of their seats, wondering what will happen next.
In Tulum, a dozen palapas in the Jaguar National Park went up in flames. The cause remains a mystery. It's like the park's own fire-breathing dragon had a go at it. Fortunately, no injuries were reported, and emergency services stepped in to tame the fire.
Police Chief's Tragic End
In another shocking turn of events, the director of the municipal police of Hidalgo, Lucio Juárez Lara, was shot and killed in broad daylight. A scene straight out of a gritty crime drama, with attackers surrounding the victim's car in a sinister showdown.
Finally, the Attorney General's Office of Mexico City has arrested José “N,” accused of aggravated rape and robbery. This man is related to a dozen investigations of sexual assaults, and his method involves social networking apps. A modern-day thriller where the criminal leaves digital breadcrumbs.
So, there you have it, Mexico's current affairs – curious twists, regulations, and a few burning questions. The Mexican Wonderland continues to enthrall, amaze, and baffle. What's next? Stay tuned for the next chapter.