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Sempra Is Cleared to Build LNG Project Near Ensenada
October 30th, 2004
Source: Los Angeles Times
Sempra Energy said Friday that it had won a high-stakes race for approval to construct North America's first West Coast liquefied natural gas terminal. It would begin building the project in early 2005 at a seaside location north of Ensenada. The Sempra terminal will be on the receiving end of supercooled liquefied natural gas supplied by BP and Royal Dutch/Shell Group from Russia's Sakhalin Island and Indonesia. The Baja plant will re-gasify the LNG and deliver it to the U.S. and México by pipeline. Environmentalists and homeowners oppose the project. Leading the charge is an association of 400 homeowners, most of whom are U.S. citizens at Bajamar, a housing development two miles of the proposed terminal site. They fear the project will pose a safety hazard. Environmentalists said Sakhalin gas production threatened the breeding grounds of Western Pacific gray whales, now numbering only 100.
A ChevronTexaco spokeswoman said the company was pursuing its plan to build an LNG terminal on the Coronado Islands opposite Ensenada. The project still lacks a key Mexican government permit.
Oil Companies Support Changes at PEMEX
November 2nd, 2004
Source: El Economista
Large oil companies with investments in México, including ChevronTexaco, British Petroleum, Shell, Petrobras and Exxon Mobil, have reacted positively to the appointment of Luis Ramírez Corzo as the new PEMEX general director, but they also asked for continuity in the firm's projects, so stated the head of the National Association of the Chemical Industry (ANIQ). Also, the president of the Energy Commission said that this designation was a sign of the need to grant PEMEX management autonomy and to create a regulatory body so that decisions are made by the board and not by the government. ANIQ asked Ramírez Corzo for expansion works in the petrochemical complexes, like the continuation of Cangrejera, Morelos, and of the Fenix project.
Muñoz Leos, PEMEX’s CEO, Asked to Resign
November 2nd, 2004
Source: Chicago Tribune & Reforma
Raul Muñoz Leos, the first executive from the private sector to run México's state-owned oil company, turned in his resignation Monday after battling lawmakers over opening the industry to international investment.
Muñoz Leos will be replaced as chief executive of Petroleos Mexicanos by Luis Ramírez, PEMEX's head of exploration and production, said a spokesman for Mexican President Vicente Fox, who declined to comment as to why Muñoz Leos stepped down, but he said his leadership had deteriorated and, as a result, he was no longer able to lead such an institution under so many suspicions.
New PEMEX Head Brushes Off Corruption Allegations
November 2nd, 2004
Source: Reuters
The new head of Mexican oil monopoly PEMEX was forced to deny corruption allegations on his first day in the job on Tuesday, after local News Magazine Proceso said he was a partner in the Molducar firm that rented buildings to PEMEX under advantageous terms and that PEMEX paid US$5.7 million on repairs to said buildings. Ramírez said he resigned the company in 2001 after accepting an offer to work at PEMEX and that the media allegations were false.
The media allegations were the latest blow for PEMEX, which is trying to shed a reputation for endemic corruption and dirty wheeling and dealing.
Mexican Giants Looking To Move in on Panamanian Market
November 3rd, 2004
Source: El Economista
Carlos Slim, president of Grupo Carso, L. Zambrano, president of Cemex, Bernardo Quintana, president of ICA, and R. Salinas Pliego, president of Grupo Salinas, are some of México's most important entrepreneurs who will accompany President Vicente Fox today on his two-day trip to Panama with the aim of participating in the extension of the Panama Canal, which is expected to involve investment of around US$5 billion. Fox and recently elected Panamanian leader, Martín Torrijos, will sign a Reciprocal Investment Agreement that will be the basis for a free-trade agreement between the two nations.
Direct TV Broadens Its Latin-American Orbit
November 1st, 2004
Source: Business Latin America
DirecTV Group is taking a series of steps to integrate its operations with Sky throughout Latin America. While the region’s two largest direct-to-home (DTH) satellite service operators were both essentially owned by Rupert Murdoch’s News Corp. after its purchase of DirecTV parent Hughes, the latest move virtually establishes a DTH monopoly in the region and creates far and away the largest pay-TV service operator in Latin America, according to Pyramid Research, a US telecoms consultancy. The DirecTV Group will own 100% of the newly named Pan-Americana operation, which will include Chile and Colombia while retaining a 43% stake in México and a 72% stake in Brazil.
México’s Televisa and Globo (Brazil) will represent the other shareholders in these two markets. Both media companies had been shareholders in Sky Latin America’s platforms. Already, DirecTV Latin America and Sky were the two largest pay-TV service providers in the region.
In México, DTG will retain the Sky name and will cease operating the DirecTV platform in that market.
TV Azteca Case Might Have Sequels
November 4th, 2004
Source: The Miami Herald
R. Salinas Pliego, chairman and majority shareholder of Mexican broadcaster TV Azteca, is awaiting the judgment of the U.S. Securities and Exchange Commission in a case that could have both wide ramifications for his company and for corporate governance in México. At issue is a 2003 debt transaction in which Salinas Pliego and a colleague made a profit of $218 million, allegedly at the expense of shareholders. Salinas Pliego denies wrongdoing and is due to present his version of events in the next few weeks. If the SEC opts to fine him the amount he gained, it would be interpreted as a warning to México's business establishment to pay much more attention to the rights of minorities. Sentiment towards Azteca worsened in May when two independent directors running its internal investigation, James Jones, former U.S. ambassador to México, and Gene Jankowski, former CBS chief executive, resigned.
The issue could have an impact on México's corporate establishment. Salinas Pliego is an entrepreneur who enjoys a good relationship with the federal government.
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U.S. Boosts a Trade Corridor
November 2nd, 2004
Source: El Universal
Missouri is pressing the Mexican Congress to support plans to create an important trade route between the Mexican coasts and the center of the U.S. Last week a group of Mexican legislators from the Congressional Transportation Commission visited that state to meet with civil employees and representatives of local businesses. The Missouri industries that include the Kansas City Southern Railway are seeking to transform Kansas City and St. Louis into land ports to connect North America with Asia through Mexican seaports and transnational trains.
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México’s Fox Visits Panama; Trade Talk Slated
November 2nd, 2004
Source: The Wall Street Journal
Mexican President Vicente Fox kicked off a two-day visit to Panama's capital Tuesday, during which he plans to talk trade with new President Martín Torrijos. The Foreign Secretary met Fox and the Mexican First Lady at the Tocumen airport. He said this country would use the Mexican Ppresident's short tour to "build much more solid relations with México." Fox agreed to visit Panama after Torrijos made México one of his first official stops after taking office Sept. 1. During Fox's visit, both leaders planned to sign an agreement promoting commercial investment between México and Panama. The two countries account for about US$400 million in trade per year. Torrijos also plans to urge Fox to remove Panama from México City's list of so-called "fiscal paradises," countries where relaxed fiscal control makes things easier for would-be money launderers.
Fox, the first foreign head-of-state to visit Panama during the Torrijos Administration, plans to meet with business leaders near the Panama Canal's Pacific opening and listen to several plans for possible expansion of the waterway.
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Contaminated Baby Food in México From The U.S.
November 3rd, 2004
Source: Reforma
A Texas District Attorney Justice’s investigation revealed that the company Milky Way Traders Inc. sent México what was supposed to be powdered milk for babies, which was contaminated with soil and flies. The investigation concluded that the company used cattle feed as the main ingredient to manufacture the formula. The Texas District Attorney requested the collaboration of Mexican health civil employees to seize the nutritional formula and to locate and punish the people responsible for its distribution.
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Cattle Sales Rise
November 4th, 2004
Source: Reforma
Exports to U.S. cattle breeders in México grew 45% from September 2003 to August 2004, compared to the previous period, said the director of economic studies of the National Cattle Confederation.
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México Stocks Rise as Bush Victory Seen Likely
November 3rd, 2004
Source: San Diego Union Tribune
Mexican stocks rose on Wednesday morning to an all-time intraday high as investors bet that U.S. President George Bush has been reelected and the peso gained slightly. Many equities investors in México and abroad welcomed Bush's lead in the tightly contested election, as he is generally seen as more friendly to business than the Democratic challenger, Sen. John Kerry. The IPC benchmark stock index traded up 0.38% to 11,654 points after hitting an all-time high of 11,719, with steel maker Hylsamex and cement producer Cemex leading the way. Gains were broad, with 25 stocks advancing versus 11 declining.
Mexican stocks, largely boosted by rosy third-quarter corporate earnings, have rallied almost 20% since mid-August. México's peso gained 0.30% to 11.4100 per dollar, adding to a gain of 0.74% the day before as the dollar lost ground against major currencies like the euro as investors awaited an election verdict.
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New $1,000 Pesos Bill Issued by Banco de México
November 5th, 2004
Source: La Jornada
The Banco de México will issue a new $1,000 pesos bill as of November 15th, made with cotton substrate and 7 security marks. According to the Director of Programming at the Central Bank who was in charge of presenting the bill, this initiative does not anticipate greater inflation in the near future or a loss in value of the nation’s currency.
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Despite Months of Protests, Wal-Mart-Owned Store Opens Near México's Pyramids
November 5th, 2004
Source: San Diego Union Tribune
A Wal-Mart 3-hectare store quietly opened its doors Thursday less than a mile from the ancient temples of Teotihuacan, despite months of protests claiming the sprawling complex was an insult to Mexican culture. The store celebrated the opening with fireworks, and had refused to publicize a date for its opening, but news spread by word of mouth.
Wal-Mart is now México's biggest retailer after buying up numerous Mexican chains in recent years, including companies like Aurrera. They said that only minor vestiges of the ruins were found under the site's parking lot. The store is visible from atop one of the two pyramids crowning the site.
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A Call For Justice for Slain Women
November 1st, 2004
Source: The Miami Herald
Caravans carrying activists traveling from as far as Canada arrived Sunday in Ciudad Juárez, demanding that authorities find those behind a string of unsolved killings of women since 1993 in this border city. They departed from Toronto, Seattle, Boston, Minneapolis and Laramie, Wyoming, and visited 56 cities in the U.S. and Canada. Each caravan stopped at churches, universities and community organizations, accompanied by some of the victims' mothers, who gave talks about their daughters' deaths and a struggle for justice. The organizer of the caravans is the director of the México Solidarity Network, who said “Enough is enough.”
Still, prosecutors appear no closer to solving most of the killings, and families of the victims describe official efforts as futile probes that have been tainted by inept and corrupt police officers.
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Hundreds Gather for U.S.-México Mass to Remember Migrants Killed Trying to Cross Border
November 2nd, 2004
Source: San Diego Tribune
About 400 people separated by a chain link fence that divides México and the U.S. gathered Tuesday for a mass to remember migrants who died trying to sneak across the border. Roman Catholic bishops from Ciudad Juárez, and their counterparts from Texas and New México led the sixth binational Day of the Dead mass at the border between Anapra, a poor Juárez neighborhood, and Sunland, New México. "This fence was not made by God," said Bishop Ricardo Ramírez of Las Cruces, New México. "And just like the Berlin wall fell, this fence too will be torn down."
Human rights activists say more than 3,100 people have died along the border since 1994.
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Arizona Approves Anti-Immigrant Amendment Rejected by México
November 3rd & 4th, 2004
Source: El Financiero & El Universal
Yesterday a drastic no-immigration law, Proposal 200, was approved in Arizona, called “Protect Arizona Now.” It will force Arizona’s government officials to denounce undocumented people to the federal authorities once they are detected in that territory. If they didn’t, they could be sent to jail. According to the measure, all the inhabitants of the state will have to identify themselves and prove their citizenship in order to have governmental services.
The government of México regretted the approval of the Proposal, because it is discriminatory and limits access to fundamental services such as education and health.
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Suspected Chief of Drug Cartel Assassins Arrested
October 31st, 2004
Source: The Chicago Tribune
Rogelio Gonzalez Pizana, leader of a shadowy group of assassins who work for the Gulf drug cartel, was arrested Friday in northern México after a gunfight with federal agents that left two suspects and one law-enforcement agent dead, México's attorney general announced. Mr. Gonzalez is also wanted in the U.S., where he is accused of threatening Drug Enforcement Administration agents at gunpoint in 1999.
Mexican agents and soldiers found a large arsenal of automatic weapons as well as grenades, pistols, bulletproof vests and three cars with Texas plates when they raided a bar in Matamoros. Mr. Gonzalez tried to escape in an armored Volkswagen, throwing grenades at agents and soldiers in his path. He was shot through the left side of the chest in the ensuing firefight.
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México City Mayor Faces Move to Lift His Immunity
October 31st, 2004
Source: The New York Times
Andres Manuel López faces a felony charge in a land dispute. Mr. López is not going down without a fight. He has accused congressional leaders and prosecutors in President Vicente Fox's administration of carrying out a political vendetta against him, which has been denied by the President. After the city expropriated the land for a road, the owner went to court and won an injunction, but prosecutors maintained that Mr. López's administration defied the order and carried on with the work. Mr. López denies the charge.
Federal prosecutors have asked the Mexican Congress to strip Mr. López of his immunity. That means the mayor would have to resign and stand trial on contempt-of-court charges. A trial would knock him out of the race for President because the Mexican Constitution bars anyone facing criminal charges from running for the nation's highest office.
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Fox: México, An Important Partner of U.S. and Canada
October 31st, 2004
Source: La Jornada, Milenio, El Universal & Reforma
It was finally understood by Canada and the U.S. that México is an important partner because it contributes to improving the competitiveness of North America and being able to face the development of other blocks and other economies in the world, assured President Vicente Fox after a work tour in Canada. Now we are looking forward to go deeper in the NAFTA to face the Asian block.
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Powell Confirms Visit to México
November 3rd, 2004
Source: El Financiero
Colin Powell, Secretary of State, confirmed his participation in the annual meeting of the Bi-National Commission U.S.-México, to take place in México and to be centered on migratory issues, integration and border security.
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Fox Congratulates Bush and Seeks Other Agreements; Other Latinos Dismayed
November 4th, 2004
Source: El Financiero, El Universal, La Jornada, Reforma & The Dallas Morning News
President Vicente Fox congratulated President Bush over the phone on his win Wednesday, but others in Latin America expressed both disappointment at Mr. Bush's reelection and confusion about the electoral system that delivered it. In a statement, Mr. Fox "stressed the importance of the bilateral relationship, mostly the immigration issues" and invited President Bush to make a state visit to México. Mr. Fox also made a pitch for immigration policy changes that would allow more Mexicans to work legally in the U.S. The Bush Administration has an outline for such changes that is supported by México.
The director of the Council on Hemispheric Affairs said that business could include not just possible changes on immigration policy but lowering U.S. farm subsidies that hurt Mexican farmers.
Across South America, he said, there is a deep dislike of Mr. Bush and the war in Iraq.
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Ally of a Top México Politician Loses Immunity From Charges
November 5th, 2004
Source: Los Angeles Times
Rene Bejarano, a close associate of the capital's mayor, was stripped of his congressional immunity Thursday for allegedly taking bribes of $52,000, but not before accusing federal legislators of a double standard, hinting that many had done the same thing. Authorities charged Bejarano with receiving illegal funds and abetting corruption, but could not arrest him while he enjoyed immunity as a sitting member of the capital's congress. Prosecutors had planned to collar him immediately after the vote, but were barred after a judge Thursday granted Bejarano an injunction. The ultimate destination of the cash is still unknown. Only 6 of 96 members of Bejarano & Lopez Obrador's party in the lower chamber voted against the measure to strip him of immunity.
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