Grand-Am: McDowell to pull double duty in Mexico.
Grand-Am Daytona Prototype star Michael McDowell will have a busy weekend at the season finale in Mexico City next month, having landed an opportunity to race the Rocketsports Champ Car at the same meeting.
The 20-year old will link up with Paul Gentilozzi’s squad for the final two CCWS events in Surfers Paradise and Mexico City, driving the #31 Lola-Cosworth piloted until now by fellow American Ryan Hunter-Reay. McDowell will also continue to co-drive the Finlay Motorsports Daytona Prototype in Grand-Am’s Rolex Series, whose final round shares the bill with Champ Car in Mexico City 250 on 5-6 November.
“Michael came highly recommended to us by [Grand-Am team owner] Rob Finlay and others in the racing industry,� said Rocketsports boss Gentilozzi, “He shows great potential and the desire to learn to be competitive in anything he races. We are looking forward to the next two races to allow him to get comfortable with the car and crew in preparation for 2006.”
McDowell will test the #31 machine again at Putnam Park this weekend but, after a few hours running prior to the last Grand-Am round, was both amazed and awed by the performance of the Rocketsports car.
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Mexico City: Race report
In the inaugural trip south of the border for the Grand American Rolex Sports Car Series, a large and enthusiastic crowd saw Michael McDowell and Memo Gidley co-drive the No. 19 Finlay Motorsports BMW Riley to victory in La Gran Final de la Serie Rolex Sports Car at the Autodromo Hermanos Rodriguez in Mexico City. The first-time Rolex Series winners crossed the finish line ahead of Max Angelelli, who joined teammate Wayne Taylor in clinching the 2005 Daytona Prototype team and driver championships in the No. 10 SunTrust Pontiac Riley.
Fans were treated to close competition and
UPDATE 2-US cuts duty rate on Mexico cement maker Cemex
The United States said on Thursday it was cutting anti-dumping duties on Mexico's leading cement maker, a routine administrative move that could proceed a deal soon to end a 15-year fight over cement trade.
The U.S. construction industry has long battled to remove the duty, which they claim has contributed to shortages of cement in many U.S. states. That effort picked up steam after Hurricane Katrina rampaged across the U.S. Gulf Coast.
U.S. and Mexican negotiators held their latest round of the talks on the issue earlier this week in Mexico City
Mexico May Double Stock Listings in Five Years, Zorrilla Says
Mexico's new securities law may help double the size of the stock market within five years by encouraging more companies to list shares, an official at the bourse said.
The law, approved by Congress last week, makes it easier for smaller companies to sell shares and lowers the costs of taking on venture capital partners. It also increases the rights of minority shareholders, said Pedro Zorrilla, chief operating officer of the Mexican stock exchange in Mexico City. The exchange expects as many as 260 listings in five years from about 130
Mexico, Venezuela chiefs pull ambassadors
Mexico and Venezuela pulled their ambassadors from each other’s capitals Monday after the government of Venezuelan President Hugo Chavez refused to apologize for his remarks belittling Mexican President Vicente Fox.
Chavez, a frequent critic of U.S. foreign policy, last week called Fox “the puppy†of the Bush administration. When the Mexican government announced it would expel the Venezuelan ambassador if the Chavez government did not apologize within 24 hours, Venezuela responded Monday by ordering its ambassador home.
Mexico then recalled its ambassador to Caracas, with Fox saying: “We cannot allow people to offend our country.â€
The two countries fell
Team India to miss A1 GP Mexico race
Team India is all set to miss the next race of the A1 Grand Prix to be held in Mexico this weekend.
A1 Grand Prix was expected to find sponsors for the Indian team which had lost its backing of Sahara Computers a few days ago but apparently the plan has not worked out.
The team, including driver Armaan Ebrahim and manager Akbar Ebrahim, were slated to leave for Mexico today but did not take the flight following the development.
Armaan has subsequently headed to the United Kingdom to take part in the Formula
U.S., Mexico sign pact ending 16-year cement dispute
The United States and Mexico Monday formally ended a 16-year-old cement trade dispute, allowing increased imports of Mexican cement to help in the reconstruction of the U.S. Gulf Coast.
Top U.S. and Mexican officials signed an agreement allowing Mexico to export 3 million tons of cement annually to southern tier U.S. states over the next three years with an import duty of $3 per ton, down from more than $26 now.
The pact, which was reached in principle in January, also ends various legal challenges brought by Mexico. The dispute dates back
Mexico City: Jan Magnussen race report
Jan Magnussen raced to victory number 11 in 2005
Danish racing driver Jan Magnussen, newly crowned Danish racing driver of the year, rounded of his racing season with a victory in the Pontiac GTO.R in Grand-Am GT in Mexico together with Paul Edwards.
The victory gave Jan Magnussen a total of 11 victories this season in four different cars. Jan Magnussens victories include victory in GT1 for Corvette Racing at Le Mans and Petit Le Mans, 5 victories in Team DBA Toyota Corolla in DTC, victory in Clio Cup guest drive and three victories in
RMC buy to double Mexico's Cemex net profit
Mexico's Cemex, the world's No. 3 cement maker, is seen doubling its third-quarter net profit from higher sales in the consolidation of Britain's ready-mix concrete giant RMC and financial gains.
A Reuters survey of six analysts forecast, on average, a July-September net profit for Cemex of $783 million, up 117 percent from a year earlier.
The survey forecast that Cemex's (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research)
revenues will jump 114 percent in the quarter, largely boosted by income from its $5.8 billion acquisition of RMC, the world's largest ready-mix concrete maker.
Financial gains from
Mexico reimposes apple tariff
Mexico has reinstated tariffs on Red Delicious and Golden Delicious apples imported from the United States. The move affects exports from Washington, Oregon and Idaho, although the vast majority of the exports are from Washington. A few shippers are exempt from the tariff, but most shippers face a 44.67 percent rate.
In 2002, Mexico imposed a 46.58 percent tariff on Reds and Goldens, but temporarily lifted the tariff on May 27 while a new investigation was conducted into an anti-dumping complaint filed by Mexican growers in 1997.
The complaint alleged Northwest shippers were dumping apples at prices less
Mexico City: SunTrust Racing race report
SunTrust Team Clinches Daytona Prototype Championship and Tenth Podium Finish at Mexico City Finale
Mexico City, Mexico (November 5, 2005) -- The No. 10 SunTrust Pontiac Riley of Wayne Taylor and Max Angelelli achieved their goal of the season by being crowned the Grand American Rolex Sports Car Daytona Prototype team champion and co-driver champions.
Although the team's five victories and ten podium finishes in the 14-race series may have looked easy, it was far from it in the extremely competitive Grand American series. The fight throughout the season highlighted the No. 10 SunTrust team
