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Energy
PRD Legislators End Congress Protest; Congress Sets Agenda For Oil Debates
April 25, 2008
Legislators from leftist Democratic Revolution Party (PRD) protesting an oil reform proposal ended a two-week congressional sit-in after ruling conservatives from the National Action Party (PAN) and their centrist allies from the Institutional Revolutionary Party (PRI) offered a broad debate on the issue. The Senate's Energy Commission has agreed on a time frame for a series of national debates on energy reform starting May 13 and ending July 22. The reform looks to bolster Mexico's sagging oil industry by offering incentive-based oil service contracts and opening the refining industry to private capital. Detractors accuse the government of trying to privatize the industry.
Thousands March In Mexico City To Protest Oil Reform
April 27, 2008
Thousands of white-clad demonstrators marched in Mexico City (DF) to protest a government bill to partly allow private investment in Pemex, as lawmakers blocked the measure from reaching a vote. Organized by the Oil Defense Movement, the demonstration was headed by former DF mayor and presidential candidate Andres Manuel Lopez Obrador (AMLO), who, in a speech, said President Calderon's plan "violated the spirit and letter" of the Constitution. Obrador said the demonstration kicked off "the second phase of the civil resistance" against the reform bill passage.
Pemex Publishes 1Q 2008 Production Report
April 21, 2008
Pemex published its production report for 1Q of 2008. the company yielded a daily average of 2,911,000 barrels of crude oil, a 7.8% fall relative to the same period last year. it reached a new record high of natural gas extraction of 6,586,000,000 cubic feet daily, a 13.2% increase from the same period last year. The average per barrel price of Mexican crude oil was USD 83.1, a USD 35.4 increase relative to the same 2007 period. Exports fell 12.5% relative to the same period last year, however, export earnings increased 54% relative to the like 2007 period to a total of USD 11.337 billion. An average of 334,500 barrels of gasoline was imported daily.
Banxico Governor Suggests Selling Oil Reserves To Shore Up Debt
April 24, 2008
According to statements made by the Governor of the Bank of Mexico (Banxico), Guillermo Ortiz, to the Treasury Commission of the Senate, Pemex could sell oil reserves to lower its debt load. A simulation exercise conducted by the government in 2006 revealed that up to USD 40 billion could be generated by selling some of Pemex's reserves. Ortiz expressed that Banxico would be very pleased with a hypothetical situation in which the government would seek to buy between USD 30 billion and USD 40 billion worth of Pemex's foreign reserves. Banxico's most recent statistics show that Pemex's international reserves reached USD 84.386 billion on 18 April 2008.
Schlumberger To Deploy Six New Gas Rigs To Burgos Basin
April 23, 2008
Oil services firm Schlumberger said it will move six drilling rigs into Mexico's Burgos basin in the second quarter under a contract with Pemex. Over the past year, Schlumberger has taken on a massive drilling program in the Chicontepec oil basin and in the southern region under project management contracts with Pemex, expanding its role in the Mexican market. The company is also looking at two new drilling contracts for Chicontepec that are expected to kick off in mid-2008. Schlumberger has drilled 1,000 wells in the Burgos area to date.
U.S. Analyzes Inclusion Of Mexico In California Alternative Energy Project
April 24, 2008
According to an official from Imperial County, California, the U.S. is analyzing the possibility of including the Mexicali Valley, Mexico in an alternative energy project. The project seeks to produce 42,000 MW per day in the upcoming years by taking advantage of the region's climatic features to produce solar, geothermic and aeolian energy. The project currently produces 400 MW of geothermic energy in the Imperial Valley and intends to increase its capacity by at least 2,000 MW. Cerro Prieto's facilities in the Mexicali Valley, in the state of Baja California generate 700MW daily. Phoenix-based Sterling Energy Systems and Irish investors announced they will begin building the world's largest solar energy generation plant just across the U.S.-Mexico border, with an initial investment of USD 1 billion. Works are expected to end in 2011 and the facility would generate 900 MW per day.
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Mining
International Unions Say Mexico Repressing Miners
April 23, 2008
International unions, including a leading U.S. labor organization, accused Mexican authorities of using violence to break up union strikes, including one at the Cananea copper mine, in the state of Sonora. The International Metalworkers' Federation said in a letter sent to lawmakers around Latin America, the U.S. and Canada, that the government is siding with the owners of the Cananea copper mine and the Lazaro Cardenas steel mill in labor disputes, and is using police to disperse strikers with rubber bullets and tear gas. The federation groups more than 200 unions. Workers at the Cananea mine have been on strike for eight months in a dispute that began over safety conditions but has been complicated by conflicts between the Mexican mining union's leader and mine owner Grupo Mexico (GMex).
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Trade & Investment
Calderon, Bush, Harper Defend NAFTA In Face Of Anti-Trade Sentiment In U.S.
April 21, 2008
President Calderon, U.S. President Bush, and Canadian Prime Minister Stephen Harper mounted a defense of the North American Free Trade Agreement (NAFTA) at the opening of the North American Leaders' Summit in New Orleans, pushing back against anti-trade sentiment. Trade between the U.S., Mexico and Canada has surged from USD 290 million a year to nearly USD 1 trillion a year since NAFTA began 14 years ago. However, in a slumping U.S. economy of lost jobs, trade has become a target of disaffected workers, unions and U.S. Democratic presidential candidates. President Bush said NAFTA has led to the creation of hundreds of thousands of jobs on both sides of the border, has offered more choices to consumers and has raised the quality of products.
Mexico Posts USD 636 Million Trade Surplus In March
April 23, 2008
The government announced that Mexico posted a USD 636 million trade surplus in March. The government said that foreign trade results were influenced in March by two factors: a strong monthly increase in the value of oil exports and the presence of Holy Week. Exports rose 15.7% from a year earlier to USD 25.062 billion, with oil-related exports up 57.6%. Non-oil exports were up 8.5%. Imports in March were USD 24.426 billion, up 10.8% over the same month in 2007. Of that, imports of intermediate goods were 9.8% higher and consumer goods imports were up 3.6%. Imports of capital goods rose 26.1%. Mexico's Holy Week holiday fell in March this year, rather than April the year before. Fewer working days in March meant fewer non-oil exports and fewer consumer imports.
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Banking, Insurance & Finance
BBVA Bancomer Announces Sale Of Its Mexico Properties
April 24, 2008
Spanish-Mexican bank BBVA Bancomer announced the sale of its main headquarters along with three other properties – all in Mexico City (DF) – in order to construct two new buildings in the Paseo de la Reforma avenue. The two new buildings are expected to cost more than USD 466 million. BBVA Bancomer expects to be fully relocated within the next four years.
S. Korea’s KEXIM Sells MXN 800 Million Bonds-Source
April 23, 2008
Export-Import Bank of Korea (KEXIM) sold MXN 800 million in 10-year senior unsecured bonds in a re-opening of a sale done in October last year. KEXIM priced the re-opened bonds at 100 basis points over the Mexican Treasury bond, or the equivalent of about 130-135 basis points over the dollar swap LIBOR. The deal re-visited a MXN 1 billion bond sale KEXIM did in October, which had been the first such transaction in the Mexican currency by a South Korean issuer. It was also the second bond sale by KEXIM in Mexico this year, after it sold MXN 1.2 billion in five-year bonds in January.
Senate Passes Article Compelling Insurers To Provide Basic Standard Products
April 23, 2008
Senators added article 39 to the General Law for Mutuality Societies and Insurance Institutions; the article compels insurers to provide basic and standardized products covering death, accidents, medic expenses, health and civil responsibility. The law awaits ratification by the Lower Chamber. The National Insurance and Deposits Commission, advised by the consumer protection agency Condusef and insurance institutions, will issue a sample of the adhesion contract that companies will have to use for each and every product. Insurance companies will have to report monthly to Codusef in terms of the tariff's they charge.
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Business & Industry
Cuervo, Corona Are Mexico's Most Valuable Alcohol Brands
April 22, 2008
According to U.K.-based market research company Millward Brown's 2007 Brandz Top 100 ranking's general list, Mexican Tequila brand Jose Cuervo is the world's third most valuable liquor brand and ranked first in worldwide tequila sales. Meanwhile, Mexican Brewer Grupo Modelo's Corona beer brand ranked fourth among the world's most valuable beer brands, following Budweiser, Bud Light and Heineken. Corona's value was estimated at USD 4.44 million, a figure 35% higher than compared to the 2006 report results. The increase is explained by U.S. consumers' approach to Latino culture.
Gruma Plans USD 200 Million Capital Increase
April 23, 2008
Mexican corn flour and tortilla maker Gruma said that it plans to raise USD 200 million in a capital increase; issuing 82.6 million new shares at USD 2.43 a share.
EGO Inaugurates First Mexico Plant
April 24, 2008
German domestic appliances' components manufacturer EGO inaugurated its first plant in Mexico, in the state of Queretaro. The new facility is expected to create 200 direct jobs within the next five years. EGO expects sales between USD 10 million and USD 15 million in 2009. The plant’s total production will be shipped to the U.S. during the first two years. EGO expects to supply clients such as Samsung and Mabe in the Mexican market by 2010.
Altos Hornos De Mexico Signs Supply Contract With Trinity Industries
April 22, 2008
Mexican steelmaker Altos Hornos de Mexico (AHMSA) signed a supply contract with U.S. manufacturer of heavy metal products Trinity Industries. The contract entails AHMSA supplying Trinity with 200,000 tons a year of special grade steel plating beginning June 2009 and ending June 2011, and includes the possibility of extending the contract beyond that period and increasing the shipments to 400,000 annual tons of steel plating. Trinity plans to use the steel plating to build wind energy turbine towers in its recently-inaugurated plant in the state of Coahuila.
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Automotive
Japanese Autoparts Manufacturers Explore Mexican Market
April 22, 2008
Representatives from 48 Japanese corporations from the autoparts sector are visiting Mexico to explore business opportunities. The president of the Japan External Trade Organization (Jetro), Yoshiro Hikota, emphasized on the interest of Japanese entrepreneurs in the Mexican market and announced meetings with federal and local governments' officials as well as with private sector executives to analyze potential businesses. Japanese autoparts producers such as Takata and NGK are already operating in Mexico. Takata opened a USD 20 million safety belt producing plant in Monterrey, in the state of Nuevo Leon; NGK announced last year a USD 11 million investment in a tile plant to supply the automotive sector.
Sensor Cables Automotive Announces Bankruptcy
April 22, 2008
The Mexican subsidiary of German harnesses manufacturer Sensor Cables Automotive announced bankruptcy. The company, which had a plant in the state of Queretaro and employed 400 people, exported all of its production to the U.S. Part of the causes leading to its closure include the contraction in the U.S. automotive market.
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Housing & Mortgaging
Su Casita Sells MXN 1.9 Billion In Mortgage Bonds
April 21, 2008
Mexican mortgage lender Hipotecaria Su Casita said that it has sold nearly MXN 1.9 billion in mortgage bonds in its first issuance of the year. Su Casita said the bonds were placed in three series and the issuance was oversubscribed by 2.8 times. Proceeds from the placement will be used to finance about 6,524 mortgages for low- and middle-income housing. Since late 2003, home finance companies, banks and federal housing fund Infonavit have sold nearly MXN 72 billion of mortgage-backed securities on the local market to fund their lending operations.
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Construction & Infrastructure
Cemex Announces USD 1.6 Billion Investment Program
April 25, 2008
Mexican cement maker Cemex announced investments of USD 1.6 billion this year to expand its operations by building new plants in the U.S. and Mexico, as well as new lines of cement production at its facilities in Spain and Panama. Cemex said that investment in Mexico will rise to USD 450 million for the construction of new factories in the states of Sonora and Puebla, which will increase the company's cement production capacity by more than 6 million tons per day. The chairman of Cemex, whose chief market is the U.S., said that he foresees no improvements in that economy this year, nor in the first four months of 2009. In Mexico, its second biggest market, Cemex hopes for greater dynamism in the construction sector thanks to public works.
Edomex Awards Concession To Build Second Level On Periferico Freeway
April 22, 2008
Spanish construction firm OHL was awarded a concession by the government of the State of Mexico (Edomex) to build a second level on the Periferico Freeway from Toreo Cuatro Caminos to the Mexico-Queretaro Highway. OHL beat bidding competitors Inbursa and ICA by obtaining 70.5 points over its competitors' 68.6 and 40.20, respectively. Officials from the state's Transport Ministry said that among the advantages OHL offered to build the said road was that work will be carried on between 11 P.M. and 05 A.M. to avoid worsening traffic jams. The first phase of work is expected to begin in August and end in the same month 2010; it is expected to cost MXN 3.9 billion. The second phase of works will cost MXN 11 billion.
Mexico City Announces Construction Of New High Speed Toll Roads
April 22, 2008
Mexico City's (DF) mayor Marcelo Ebrard announced that work for the construction of two new high speed toll roads – Supervia Tunel Reforma and Supervia Poniente – will begin in October, once a bidding winner is declared. Ebrard said that investment in the project will amount to MXN 18 billion by the end of the year. Work is expected to be concluded within two and a half years and bids will be received until October. The DF government will be a partner in the project but resources will be totally provided by the winning bidder.
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Transportation
Airbus Sees Mexico Needing 500 New Planes To 2026
April 21, 2008
European aircraft maker Airbus, controlled by EADS, said that Mexican airlines will require 500 new planes with more than 100 seats in the 2007-2026 period, given growing demand and fleet substitutes. Airbus vice president for Latin America, the Caribbean and Spain, Rafael Alonso, said that planes for Mexico would cost around USD 35 billion and would represent about a third of the total demand for the region, which would be around 1,450 aircraft. Alonso predicted that Mexico's fleet of planes with more than 100 seats would hit 680 planes in service by 2026, up from 233 aircraft in 2006, driven by economic growth and tourism.
Toluca Airport Selects GE Security's CTX 9400 Explosives Detection System
April 24, 2008
U.S. Conglomerate General Electric's security and life safety technologies business unit, GE Security, announced that the company's Homeland Protection business has sold two advanced technology CTX 9400 explosives detection systems (EDS) to the Toluca International Airport (TLC) in the State of Mexico (Edomex). The CTX 9400s, when deployed, will reportedly help ensure that Toluca's passengers benefit from the latest and most advanced CT-based EDS technology available in Mexico. It will help TLC optimize security and improve operational efficiencies. Financial details of the sale were not disclosed.
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Telecommunications & Technology
Iusacell Concession Expires, Could Cost USD Millions To Renew
April 21, 2008
Mexican mobile company Iusacell's wireless telephony concession expired last year and it could cost the company hundreds of millions of dollars to renew it. Tension between the administration of President Calderon and Iusacell-Unefon is centered on renewing the said concession. Sources and analysts say Iusacell's sister company Unefon, also controlled by Ricardo Salinas Pliego, received permission from former president Ernesto Zedillo to postpone payments for the concession it bid on and won. Unefon, merged with Iusacell, is claiming it should be allowed to keep USD 45 million it was paid by the government for having been charged a late fee related to the postponed payment for its concession. Iusacell-Unefon claims it is still owed an additional USD 4.5 million plus interest, but the Communications and Transport Ministry (SCT) refuses to pay the said amount and has launched an investigation regarding the legality of the USD 45 million payment.
Axtel Seeks Satellite Television Concession
April 21, 2008
Mexican telecommunications company Axtel is requesting a satellite television broadcasting concession from the government. Speculation suggests Axtel may have already received a green light from telecommunications authorities to launch its satellite TV service. Axtel now boasts EBITDA in excess of USD 400 million, which it is using to support its petition before the Communications and Transport Ministry (SCT) for a satellite television broadcasting concession. Axtel is evaluating possible equipment suppliers and has already begun to offer pay TV services via its alliance with cable provider Cablemas.
MVS Obtains Satellite Television Concession
April 22, 2008
Mexican telecommunications and media company MVS Comunicaciones has obtained a satellite television concession from the government. MVS will compete with Mexican broadcaster Televisa's satellite television subsidiary Sky, which up until now had been the only satellite TV provider in the country. MVS has not yet revealed the identity of its DTH partner but rumors suggest the company has been in discussions with Echostar, which offers the Dish Latino system, and with AT&T subsidiaries.
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Media & Entertainment
KW Entertainment Launches New TV Channel
April 23, 2008
Multimedia company KW Entertainment, along with 24 Mexican investors including Luis Lauro Gonzalez, Gerardo D' Nicolas and Jose Romano del Valle, launched the new KW TV channel. Initial investment in the channel amounted to USD 10 million and transmission will begin in the second week of May through cable TV. The project is sponsored by Mexican brewer Grupo Modelo, housing company Homex, milk and dairy products manufacturer Grupo Alpura and credit card terminals provider Boletazo. KW TV will begin broadcasting TV series and movies from BBC, CNN, Al Jazeera and Sony, among others, but will also start producing its own shows and programs in the short term.
Grupo Clarin Ordered To Pay USD 19 Million To Atlantida-Televisa For Plagiarism
April 24, 2008
Argentine media group Grupo Clarin was ordered to pay USD 19 million to Mexican broadcaster Televisa's publishing company Editorial Atlantida in reparation after having been found guilty of plagiarism. The case initiated during the last decade, when Editorial Atlantida was going to launch a magazine named "Genio"s, for children, which was cancelled when the team of journalists and illustrators quit without formal notice. Sources went on to say that all of them went to work at Grupo Clarin's newsroom and a few months later the group launched the same magazine, without changing the first draft cover that had been prepared in Editorial Atlantida. The report added that "Genios" sold in its first issue some 400,000 copies and currently has a 60% market share.
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Hospitality & Tourism
Private Investment In Mexico Tourism Up 39% In 1Q
April 24, 2008
The Tourism Ministry (SECTUR) said that private investment in Mexico's tourism industry rose 39% in the first quarter of 2008 to USD 2.1 billion. Domestic investors provided 51% of the capital, while the rest came from foreign investors – mainly from the U.S. and Spain. States receiving the most investment included the northern border state of Sonora, the Pacific coastal state of Sinaloa, and the Caribbean coastal state of Quintana Roo, respectively. Foreign private investment in the tourism sector has surpassed USD 5.5 billion in the past 16 months.
SECTUR Inaugurates Six Tourism Infrastructure Projects
April 25, 2008
Tourism Minister Rodolfo Elizondo attended the inauguration of six tourism infrastructure projects in the state of Campeche, which include the Golf Marina, Spa Resort; the new Holiday Inn; the beginning of construction of the Westin Hotel at the Campeche playa project; the beginning of construction of a hotel for the One Hotels brand; and the beginning of construction of the Campeche Exposition Center and the Ciudad del Carmen Convention Center.
U.S. Retirees Prefer To Live In Mexico
April 27, 2008
According to a U.S. researcher, U.S. pensioners are increasingly choosing to live out their retirement in Mexico. One of the reasons U.S. retirees like Mexico is that the cost of living is lower, plus they feel integrated and can find multiple occupations in tourist attractions. U.S. retirees have an average annual income of USD 25,000 and generate important revenue for Mexico.
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Economy
Mexico's Inflation Rate Hits 4.53%
April 25, 2008
The Bank of Mexico (Banxico) said that rising food and energy prices boosted Mexico's inflation rate to an annualized rate of 4.53% in the first half of April, its highest level in nearly three years. The increase was greater than analysts had predicted and is well beyond the 3%-3.5% target that Banxico would like to maintain. Nagging inflation fears make it unlikely that the bank would trim interest rates to bolster the economy amid a global slowdown.
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Border & Migration
Calderon, Bush, Harper Jointly Reopen Mexican Consulate At New Orleans
April 21, 2008
President Calderon, U.S. President Bush and Canadian Prime Minister Stephen Harper jointly reopened the Mexican Consulate in New Orleans, the city where the North American Leaders' Summit was held. The office shut down in 2002 as a cost-cutting measure. In his remarks, Calderon lauded the contributions of his countrymen both in New Orleans and elsewhere, saying that families of Mexican origin contribute hundreds of USD billions annually to the U.S. economy.
President Calderon Hears Immigrant Leaders' Concerns At Dallas Conference
April 24, 2008
President Calderon met with immigrant groups' leaders to hear their concerns at a conference in Dallas, Texas. Groups that expressed their concerns to President Calderon include the Service Employees International Union, one of the largest labor groups in the U.S., headed by Eliseo Medina; and the American and Mexican Anti-Discrimination Alliance. The conference's core issue was finding ways to become organized in order to defend immigrant workers – both legal and illegal – in the U.S. Medina urged the advisory council of the Mexican government's Institute for Mexicans Abroad to organize, to vote and to push for an overhaul of the U.S. immigration laws. President Calderon called himself "an ally who is indefatigably on the side of the Mexicans in the U.S."
U.S. To Replace Pilot Program Virtual Fence On Mexican Border
April 22, 2008
The U.S. government will replace its highly touted “virtual fence” on the Arizona-Mexico border with new towers, radars, cameras and computer software, scrapping the brand new USD 20 million system because it doesn't work sufficiently. The move comes just two months after U.S. Homeland Security Secretary Michael Chertoff officially accepted the completed fence from Boeing. With the decision, Customs and Border Protection officials are acknowledging that the pilot program to detect illegal immigrants crossing the U.S.-Mexico border doesn't work well enough to keep or to continue tweaking. The project is made up of nine towers along a 28-mile (45-kilometer) section of border straddling the border crossing at Sasabe, southwest of Tucson. DHS will put in about 17 new towers, some holding just communications gear, others featuring new cameras or new radars, at an undetermined cost.
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Politics
North American Leaders Conclude SPP Summit In New Orleans
April 23, 2008
President Calderon, U.S. President Bush and Canadian Prime Minister Stephen Harper concluded their two-day summit meeting in New Orleans, highlighting the benefits all three nations have gained from the North American Free Trade Agreement (NAFTA). President Bush said the trade agreement has been good for all three countries in North America and has created jobs and opportunities for U.S. citizens that outweigh any of its drawbacks. In this he was joined by the other North American leaders, who cited figures showing benefits to their nations. Both Prime Minister Harper and President Calderon also backed President Bush's argument for a trade deal with Colombia, saying that expansion of trade in the western hemisphere benefits everyone. Mexico already has its own trade agreement with Colombia and Canada is beginning talks aimed at creating an agreement.
Calderon Says Congress Seizure Ridiculous
April 22, 2008
President Calderon accused leftist legislators of making a laughing stock of themselves by blocking Congress to protest against the energy reform plan. Leftists seized podiums in both houses of Congress on April 10 to halt a government proposal to lower barriers to private investment in the oil sector, controlled by the state since 1938. "I deplore their attitude which only impoverishes their image," conservative Calderon said at the end of summit with his U.S. and Canadian counterparts in New Orleans. Leftist legislators have, however, already given up the seizure of Congress.
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Justice, Safety & Crime
Mexico, U.S. Sign Science, Technology Cooperation Deal For Security Issues
April 21, 2008
Mexico and the U.S. signed an agreement on cooperation in science and technology for security issues. The agreement was signed by Mexico's Interior Minister Juan Camilo Mouriño and U.S. Secretary of Homeland Security Michael Chertoff on the sidelines of the North American Leaders' annual summit. The aim of the agreement is to establish a framework to promote, develop and facilitate bilateral cooperation activities in science and technology and other national security issues. The agreement will enable both countries to share experiences in the application of technologies for the construction of biometric data, the processing of visa applications, the issuing of passports and records of entering and leaving the country. The agreement will also permit the participation of Mexican researchers and scientists in technological development projects in the U.S.
Army General Makes Explosive Accusations
April 25, 2008
In an extraordinary public airing of alleged police corruption, an army general has identified several law enforcement officers whose criminal activities include kidnapping, drug smuggling and operating protection rackets. General Sergio Aponte Polito offered details of specific cases and named more than one dozen officers, some of them high-ranking officials. Aponte, who heads the anti-drug offensive in Baja California, made the revelations in a letter published in a newspaper. The accusations, which cover two pages in the paper, touched off a firestorm of controversy. Legislators demanded the firing of every named officer; a business leader called for the resignation of the state attorney general; and Tijuana Mayor Jorge Ramos appealed for calm.
Thirteen Dead In Drug Cartel Shootouts In Tijuana
April 26, 2008
Massive running gun battles broke out between suspected drug traffickers on the streets of the border city of Tijuana, in the state of Baja California, killing 13 people and wounding 9. All of the dead were believed to be drug traffickers, possibly rival members of the same cartel who were trying to settle scores. Eight suspects and one federal police officer were injured, none gravely. The suspects are being held on suspicion of weapons possession among other possible charges. Police recovered 21 vehicles, many with bullet holes or U.S. license plates, and a total of 54 guns at various points in the city where the battles broke out in the pre-dawn hours.
Army, Police Arrest 16 On Kidnapping Charges
April 22, 2008
The Public Security Ministry (SSPF) said the army and police arrested 16 people, including 3 former soldiers, on charges that they worked for a group that carried out kidnappings for the Gulf drug cartel. The arrests were made in the southern state of Oaxaca; the organization abducted owners and operators of nightclubs and demanded an average of some USD 95,000 in ransom for their release plus monthly payments of USD 5,000 to stay free. The security forces seized grenades, pistols, rifles, ammunition and vehicles from the suspects. In a separate operation, police dismantled another gang of kidnappers, known as "Los Jeremias," that had 9 members and was behind 2 murders and 27 abductions. Drug gangs seek new business to replace lucrative drug smuggling.
Judge Jails Canadian Woman For Five Years
April 26, 2008
A judge from Guadalajara, in the state of Jalisco, ruled that Canadian Brenda Martin was guilty of involvement in her boss' Internet scam and sentenced her to five years in prison. Martin, of Ontario, was also ordered to pay a fine of USD 3,420. The Canadian government dipped into its special fund for troubled Canadians abroad and loaned Brenda Martin money to pay the fine for her fraud conviction. Martin is currently seeking to be transferred to a Canadian prison. Martin worked as a cook for fellow Canadian Alyn Waage in the beach resort of Puerto Vallarta, in the state of Jalisco, but denies being involved in his multimillion dollar fraud scheme. Waage, who is serving a U.S. prison sentence, has sworn that Martin knew nothing about it.
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Arts & Culture
Guillermo Del Toro To Direct "The Hobbit"
April 24, 2008
Mexican filmmaker Guillermo del Toro was named to direct two movies based on the J.R.R. Tolkien book "The Hobbit" to build on the blockbuster success of "The Lord of the Rings" series. Plans to make a two-part precursor to "The Lord of the Rings" trilogy, based on Tolkien's three-volume follow-up to his "Hobbit" story, were announced in December after settlement of a bitter legal dispute cleared the way for the project. Del Toro, whose credits include "Pan's Labyrinth" and "Blade II," will move to New Zealand for the next four years to work on both "Hobbit" films with executive producer Peter Jackson, who directed all three "The Lord of the Rings" movies.
Mel Gibson Visits Mexican Prison, Reportedly To Scout Film Locations
April 27, 2008
Australian-U.S. actor Mel Gibson has visited a prison in Mexico's Gulf Coast state of Veracruz where local officials say he is scouting locations for a new movie. Veracruz's state cinema director says Gibson's team is looking for film locations although he says "there is no script" yet. Gibson has declined to explain what he is doing, jokingly telling reporters outside Veracruz's Ignacio Allende prison that it is hard for him to speak in front of microphones. Gibson filmed his 2006 movie "Apocalypto" in the jungles of Veracruz.
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Other
Mexican Official Fired After Report Of Missing BlackBerrys At U.S. Summit
April 25, 2008
A Mexican official has been fired from his job at the President's Office after allegations that he may have taken BlackBerrys belonging to U.S. officials at the North American Leaders' Summit in New Orleans. Rafael Quintero Curiel has been dismissed from his job as a press coordinator. The U.S. government says it is investigating the incident. Two of the phone and e-mail devices disappeared from a table outside a meeting room at the North American summit in New Orleans.
Quake Shakes Mexico
April 27, 2008
A moderate earthquake has rattled Mexico, but no major injuries or damages have been reported. The U.S. Geological Center has given the quake a preliminary magnitude of 5.8. It was centered 96 miles (154 kilometers) north of Acapulco, in the state of Guerrero. The quake caused office buildings to sway and sent many frightened residents into the streets of the capital, Mexico City (DF). Helicopters immediately clattered overhead searching for damage.
Fundacion Azteca Raises Funds For Homeless Children Rehabilitation
April 21, 2008
Mexican Conglomerate Grupo Salinas' non-profit arm Fundacion Azteca exceed their fundraising goals through their monthly Movimiento Azteca fundraising and awareness program, which was recently centered on at-risk children in Mexico. The total amount raised was over USD 1 million due to support from TV Azteca viewers and corporate sponsors. The funds will serve to rehabilitate an estimated 1,185 homeless girls.
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