International Business
MEXICAN STOCKS
* The market fell slightly Wednesday ahead of today’s inauguration of President-elect Ernesto Zedillo, as some investors registered disappointment with Zedillo’s Cabinet appointments. The Bolsa index fell 4.82 points to 2,591.34.
* Traders said the market would have slumped more sharply if not for the fact that the state development bank Nafinsa stepped in to buy. On government orders, Nafinsa was apparently trying to offset selling triggered by Zedillo’s failure to include popular Finance Minister Pedro Aspe Armella in the new Cabinet. The Bolsa dropped as low as 2,570 early in the session.
Source: Times wire services
SPOTLIGHT: JORDAN
The economy has recovered from the impact of the 1991 Persian Gulf War. But unemployment is still almost 25% and the nation has a heavy debt load. The Jordanian government is betting that the peace treaty signed with Israel in October will bring much-needed foreign aid and investment.
Sources: Bank of America; World Information Services
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