International Business
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MEXICAN STOCKS
* Mexican stocks closed almost flat. Investors are nervous about rebel threats in the southern state of Chiapas to call off a cease-fire if the governor-elect for the state takes office today.
* Also keeping a lid on on market was a slight weakening of the Mexican currency. The spot dollar closed in Mexico City at 3.4495 from 3.4465 Tuesday.
* Telefonos de Mexico SA, Mexico’s largest telecommunications company, is currently negotiating a general rate increase of about 4%, but will cut the cost of international long-distance calls by between 5% and 15%, a newspaper said. Telmex will lose its monopoly on long-distance in 1997.
The Bolsa Index
Wednesday closes: 2,520.89
Sources: Dow Jones; Bloomberg Business News
SPOTLIGHT: IRELAND
The 1993 European currency crisis forced a 10% currency devaluation to keep Irish goods competitive. Other recent economic initiatives include reform of domestic industrial policy and a development plan--targeting investment in certain industries and job training to create 200,000 jobs over the next six years.
Sources: Bank of America; World Information Services
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