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Energy
Debates On Oil Sector Begin; Poll, Opposition Show Aversion To Privatization
May 13, 2008
A series of debates on the future of the oil sector formally got underway. The debates will include opinions from experts, politicians, academics and representatives of civil society. The first discussions started in the Senate with speeches by leaders of the country's three major political forces (the ruling National Action Party (PAN), the opposition Institutional Revolutionary Party (PRI) and the left-wing Democratic Revolution Party (PRD)) and other participants on the "principles that should rule the reform." An opinion poll by Consulta Mitofsky suggested that support for reforms depends on the outcome of the debates, set to continue through July 22. In the nationwide poll, 36% thought the bill should be passed and 43% thought that it shouldn't.
President Calderon Proposes Tax Reductions For Pemex
May 14, 2008
President Calderon submitted to Congress proposed changes in tax rules for Pemex in order to promote development in deepwater reserves and in the Chicontepec basin, where exploration and production costs are higher. However, it wasn't clear how much of a tax break would be allowed. The proposal comes in addition to the energy reform which is currently the subject of a broad series of public debates being organized by the Congress.
Leftists Submit Alternative Proposal To Reform The Oil Sector
May 16, 2008
The leading figure of Mexico’s left and former presidential candidate Andres Manuel Lopez Obrador (AMLO) has put forward an alternative to right-wing President Calderon's controversial plan to overhaul the oil sector. AMLO is urging that Pemex be allowed to retain more of its earnings instead of expanding partnerships with the private sector, as the President's proposal envisions. Lopez Obrador also calls for the creation of an anticorruption oversight body within the company. AMLO’s suggestions were presented by Claudia Sheinbaum, his former campaign adviser, during the second debate session on oil sector reform.
Sempra Energy To Begin Construction Of Aeolian Park In Baja California
May 12, 2008
San Diego-based holding company Sempra Energy announced that it has reached the required agreements with land owners in the Rumorosa region, in the state of Baja California, to begin the construction of a 250MW aeolian park. Sempra Energy is currently waiting to obtain the operation permits in order to move forward with the project. Capex in the project was estimated to be of some USD 400 million in June last year, when Sempra agreed to acquire the assets. The proposed 250MW Rumorosa Wind Power project would generate power from as many as 125 wind turbines to be installed, and is expected to be operational by mid-to-late 2010.
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Trade & Investment
Former President Salinas Accuses U.S. Of Noncompliance With NAFTA
May 12, 2008
Former President Carlos Salinas de Gortari criticized the U.S. for allegedly failing to fully comply with the North American Free Trade Agreement (NAFTA). Salinas said that the obstacles set by the U.S. to prevent Mexican trucks from driving deep inside the U.S. increase trade costs. Salinas also mentioned high transaction costs due to security issues deriving from a deficient infrastructure. In addition, Salinas said that the North American Development Bank (NADBANK) has failed to serve as a resource provider.
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Banking, Insurance & Finance
New York Life Insurance Seeks Expansion In Mexico
May 14, 2008
The Mexican arm of U.S.-based New York Life Insurance, Seguros Monterrey NYL, said it could start selling insurance to a broader customer base as early as next year as the company looks for growth opportunities beyond its traditional market of more affluent consumers. The decision by Seguros Monterrey NYL to expand its business to include lower-middle-class and working-class Mexicans was the product of a strategic review that is underway at the company. Seguros Monterrey NYL is one of Mexico's biggest life insurers by premiums.
Su Casita To Start Banking Operations In 2009
May 15, 2008
Mexican mortgage lender Hipotecaria Su Casita said that its niche bank could begin operations in 2009. Su Casita announced that it will submit an operation application to the National Banking and Securities Commission (CNBV) as soon as the pending ruling on niche banks is published. Su Casita said it expects to receive authorization from the CNBV to operate its niche bank by year’s end. Hipotecaria Su Casita is a single-purpose financial entity (Sofol) which specializes in mortgage lending.
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Business & Industry
Q-Cell To Invest EUR 320 Million In New Solar Panel Facility
May 14, 2008
German high-performance solar cells producer Q-Cell announced that it will invest about EUR 320 million in a new solar panel facility in Mexicali, in the state of Baja California. Investment in the Mexicali plant was allocated after Q-Cell’s sales in the U.S., Canada and Mexico amounted to EUR 53 million in 2007, a figure equivalent to a 214% increase at annual rates. Q-Cell’s total sales in 2007 amounted to EUR 858.9 million, a figure that represents a 59.2% increase compared to the 2006 results. Q-Cell provides solar cells for over 80 clients in 40 countries, mainly in Germany, Spain, China, the U.S. and France.
Casa Saba To Buy Brazilian Pharmaceuticals Distributor
May 16, 2008
Mexican pharmaceutical products distributor Grupo Casa Saba said it has signed an agreement to buy Brazil's Drogasmil Medicamentos e Perfumaria for about USD 115 million. Saba said that the acquisition, its first outside of Mexico, is part of its expansion plans. The Brazilian pharmaceuticals market is the biggest in Latin America with sales of about USD 12 billion last year. Drogasmil operates pharmacies in Rio de Janeiro, Sao Paulo and Parana. Saba, which had sales of USD 2.4 billion in 2007, said it expects Drogasmil to be a platform to expand further in the Brazilian market.
CFC Seeks More Resources As Work Increases
May 12, 2008
The Federal Competition Commission (CFC) plans to ask the government for more financial resources as it tries to address competition issues in an economy dominated by a handful of large corporations. Eduardo Perez Motta, president of the CFC, said the agency's workload has outgrown its budgets. The CFC, which has a staff of 175 people, has a budget of MXN 172.4 million for 2008, up from MXN 159.6 million last year and MXN 153.5 million in 2006. The CFC's budget depends on the Finance and Public Credit Ministry (SHCP) and the Economy Ministry (SE). The CFC can apply fines of up to MXN 78.9 million in the case of a first-time offense, and as much as 10% of a company's total annual sales for a repeat offense.
Alcoa To Close Ops In Texas, Mexico; Cuts Head Count By 1,465
May 12, 2008
U.S. aluminum producer Alcoa said its Alcoa Electrical and Electronic Solutions unit will reduce its head count in Del Rio, Texas, and Puebla, Mexico, by a total of 1,465 as it plans to close its operations there by 3Q. Alcoa said that the shut down of its Mexican operations will affect 1,400 workers or about 10% of its workforce in Mexico. Alcoa said the move is driven by lower production demand and a change in its logistics process. Alcoa Electrical and Electronic Solutions produces electrical distribution systems and other products for the North American light and heavy vehicle markets.
Arca To Buy Second Coca-Cola Bottler In Argentina
May 16, 2008
Mexican Coca-Cola bottler Embotelladoras Arca said it has agreed to buy the Coca-Cola franchise in northeastern Argentina for an undisclosed amount. Arca’s acquisition would be its second in Argentina this year; the company said the two deals will make it the fourth largest seller of Coca-Cola products in that country by volume, and boost the Mexican company's overall volume sales by 24%. Arca said the Coke franchise in northeastern Argentina sold about 33 million unit cases in 2007.
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Automotive
April Auto Production Up 28.4% To 188,090 Units
May 12, 2008
The Mexican Automotive Industry Association (AMIA) said Mexico's auto production rose 28.4% in April from the year-ago month to 188,090 units, thanks to rising exports and a positive calendar effect. Exports rose 30.6% last month to 144,234 units, and domestic sales rose 10.8% to 83,103 units. Mexico's auto production, exports and sales posted declined in March because the month was shortened by the Easter holiday, which took place in April in 2007. AMIA said last month that April's numbers could see a positive impact from the calendar effect.
Toyoda Gosei To Open New Plant In San Luis Potosi
May 12, 2008
U.S. autoparts manufacturer Toyoda Gosei announced plans to install a new USD 12.5 million production facility in the state of San Luis Potosi. The facility will assemble automotive body sealing components, and is set to begin production in October 2008. The purpose of establishing the location is to create a structure that can accommodate the expected growth in Toyoda Gosei North America’s (TGNA’s) operations, including any future sales expansion in Mexico. The facility is established with an investment by TGNA, a capital subsidiary of Toyoda Gosei. The company name is Toyoda Gosei Automotive Sealing Mexico (TGASMX) and was officially established in April 2008. TGASMX plans on employing approximately 500 people by 2010.
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Construction & Infrastructure
Infrastructure Fund Approves Projects Worth MXN 7.28 Billion
May 12, 2008
The Finance and Public Credit Ministry (SHCP) said that the newly created National Infrastructure Fund (FNI) began operations after approving five projects worth a total of MXN 7.28 billion. In its first meeting, the fund's technical committee approved a highway project, the construction of three water treatment plants and a project to improve cities’ water and drainage systems. All of the projects will be financed through a combination of private and public funds, with public investment amounting to slightly more than half the total expected investment. President Calderon said the government plans to channel some MXN 270 billion through the fund during the next five years for transportation, water, port and environmental projects.
CANACEM: Opening Of U.S. Cement Industry To Benefit Mexico
May 13, 2008
The head of the National Cement Chamber (CANACEM) Osmin Rendon said that the opening of the U.S. cement sector in April 2009 will benefit Mexican producers rather than hurt them. Rendon stated that the said opening will boost foreign currency and fiscal contributions, as there will be an increased demand for Mexican cement which is internationally known for its high quality. Rendon said that a three-year agreement between the U.S. and Mexico that limited imports of Mexican cement to the U.S. to 3 million tons per year will end in March 2009. Mexico’s cement production in 2007 amounted to 38.8 million tons, of which 36.6 million tons were for the local market and 99% of the rest was exported to the U.S.
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Telecommunications & Technology
CFC Authorizes Televisa’s Acquisition Of Cablemas
May 14, 2008
The Federal Competition Commission (CFC) authorized Mexican broadcaster Televisa’s acquisition of a 49% stake in cable TV company Cablemas after Televisa met all the requirements the CFC had established to allow the transaction’s completion.
However, the CFC said that Televisa must offer, on a nondiscriminatory basis, its audiovisual contents to any restricted TV provider that would require them. In addition, Televisa must allow restricted TV providers to broadcast open TV signals it carries.
Verizon Business Gets Approval To Deliver Communications Services In Mexico
May 14, 2008
U.S. telecommunications provider Verizon Communications' Verizon Business unit received government approval to directly deliver advanced communications services in Mexico. Verizon had been delivering services to Mexico through partnerships with local telecommunications providers. Verizon has established a new operating company, Verizon Business Mexico, and is in the final stages of deploying multiprotocol label-switching nodes to support private and public IP services.
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Media & Entertainment
Televisa Seeks Court Protection Against Electoral Reform
May 16, 2008
Mexican broadcaster Televisa followed peer TV Azteca’s steps in seeking court protections (“amparo”) against a recently passed reform to the Federal Code for Institutions and Procedures (Cofipe), which prevents individuals from purchasing televised ads and spots for political parties. Televisa sought court protection as it considers the reform to Cofipe to be unconstitutional. TV Azteca was recently fined by the Federal Electoral Institute (IFE) after it suspended the transmission of the monthly five-minute programs each political party was awarded by law.
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Hospitality & Tourism
Mexico To Begin Returning Value-Added Tax To Tourists
May 15, 2008
The Tourism Ministry (SECTUR) said that in June the government will begin returning value-added tax (IVA) to tourists on purchases made while visiting Mexico. SECTUR said the Tax Administration Service (SAT) has granted concessions to Premier Tax Free, Global Refund Mexico and Yvesam Retornos Munidales to process the rebates. The return of IVA, which is 15% on most goods, will be made to tourists leaving the country via airports or seaports who can show proof of purchases for at least MXN 1,200. The program will start at the airports in Mexico City, Cancun, Guadalajara, Los Cabos and Puerto Vallarta. Other destinations will be gradually added to the list.
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Border & Migration
MPI: Six Thousand Soldiers Serving In The U.S. Army Are Mexican
May 14, 2008
According to the Migration Policy Institute (MPI), a total of 6,188 Mexicans serve in the U.S. military forces, a figure representing 9.5% of the total immigrants who participate in U.S. military operations. According to the U.S. Department of Defense (DOD), a total of 65,000 immigrants (both noncitizens and naturalized) serve in the U.S. military forces, a figure equivalent to 5% of the total number of soldiers, of which 11,182 are women. Mexico is the second country in number of citizens in the U.S. military forces, second only to the Philippines.
U.S. Sedates Immigrants For Deportation Without Medical Reason
May 14, 2008
According to information gathered by the Washington Post, including medical records, internal U.S. immigration documents and interviews with people who have been drugged for deportation, the U.S. government has injected hundreds of foreigners it has deported with dangerous psychotropic drugs against their will to keep them sedated during the trip back to their home country. The government's forced use of antipsychotic drugs in people who have no history of mental illness includes dozens of cases in which the "pre-flight cocktail," as a document calls it, had such a potent effect that federal guards needed a wheelchair to move a slumped deportee onto an airplane. Repeatedly, documents describe immigration guards "taking down" a reluctant deportee to be tranquilized before heading to an airport.
Iowa Immigration Raid Leads To 390 Arrests; U.S. Agents Target Meat Processor
May 13, 2008
U.S. federal immigration agents raided a northeastern Iowa meat processing plant, arresting at least 390 people and holding many of them at converted fairgrounds. A U.S. government official said that the raid of the kosher meatpacking Agriprocessors Inc. plant in Postville was the largest such operation in U.S. history and had been planned for months. The raid was aimed at seeking evidence of identity theft, stolen Social Security numbers and illegal immigration. Immigration and Customs Enforcement (ICE) officials said that the plant had about 900 workers before the raid. Most of the 314 men and 76 women arrested were from Guatemala and Mexico, but some were from Ukraine and Israel. ICE officials wouldn't comment on whether company officials could face criminal charges.
Study Says Foreigners In U.S. Adapt Quickly
May 13, 2008
A study sponsored by the New York think tank Manhattan Institute showed that immigrants of the past quarter-century have been assimilating in the U.S. at a notably faster rate than did previous generations. In general, the longer an immigrant lives in the U.S., the more characteristics of native citizens he or she tends to take on. The report shows that the capacity of the United States to assimilate new immigrants is strong. However, although immigrants who arrived as children tend to be nearly identical to their U.S.-born counterparts, apart from their lower rates of citizenship, those who come from Mexico are less assimilated and have higher incidences of teenage pregnancy and incarceration. A major reason for these disparities in assimilation levels may be the high percentage of Mexican immigrants who are in the U.S. illegally.
Cuban Migrants Land In Mexico After 17 Days At Sea
May 12, 2008
Authorities detained 14 Cuban migrants who, in an attempt to reach Florida, crammed aboard a rickety sailboat that drifted ashore in Mexico near the Belize border. The migrants, 12 men and 2 women, spent 17 days at sea and were severely dehydrated when they landed; two of them had to be hospitalized. The migrants said they drank urine with sugar in their efforts to survive. The tip of Mexico's Yucatan Peninsula near Cancun is only 120 miles (190 kilometers) southwest of Cuba. But the migrants landed in Xcalak, a town near the border with Belize more than 180 miles (300 kilometers) south of Cancun.
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Politics
Latin America-E.U. Summit Focuses On Food Prices, Trade, Climate Change
May 16, 2008
Leaders from Latin America, the Caribbean, and Europe concluded a one-day summit in Lima, Peru. The meeting featured calls for action on higher food prices globally, which have threatened to reverse poverty gains in many Latin American countries. The leaders also promised to improve trade ties, although smaller countries like Bolivia insisted that "fair" trade safeguards needed to be put into place before moving ahead on agreements. Another core issue in the summit was climate change, which was highlighted as a priority for the E.U. because it is related to poverty and more vulnerable people, and has an impact on the economy. In the framework of the summit, President Calderon met with counterparts and representatives from Argentina, Chile, Finland, Poland, the Netherlands, Bolivia, and Peru, among others.
Mexico, Germany To Intensify Economic, Political Exchanges
May 18, 2008
As visiting German Chancellor Angela Merkel met with President Calderon, Germany and Mexico agreed to enhance political dialogue, economic and trade activities, as well as bilateral exchanges in technology, culture and science. Calderon and Merkel also discussed international issues, including relations between Latin America and Europe. The two leaders emphasized the importance of maintaining efficient multilateral cooperation and appreciated the common stand of their two nations on protection of international peace and safety, promotion of human rights and international cooperation for development.
PRD Appoints Substitute President As Electoral Conflicts Remain Unresolved
May 16, 2008
The Democratic Revolution Party’s (PRD) National Securities Commission (CNG) validated the appointment of Guadalupe Acosta Naranjo as general substitute president of the PRD, while the conflict between the two candidates for the party’s presidency, Jesus Ortega and Alejandro Encinas, is resolved. PRD’s CNG also validated the appointment of Martha Dalia Gastelum as general substitute secretary of the PRD. However, the appointments were criticized by both Ortega and Encinas as they blame the CNG and the party’s Technical Electoral Commission (CTE) for the current fractures and crisis within it.
SNTE, SEP Sign Cooperation Agreement
May 15, 2008
The Education Worker's National Labor Union (SNTE) and the Public Education Ministry (SEP) reached an agreement to open the national education system and created the Alliance for Quality in Education, which would start operating at the beginning of the 2008-2009 term. SNTE and SEP committed to create a system to award all vacant positions in the educational system through contests to be coordinated by an independent organism. The Alliance includes the creation of different offices that will seek to guarantee the best results by students and teachers through evaluation systems for both and providing incentives.
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Justice, Safety & Crime
U.S. Lower House Approves Aid Package To Mexico
May 15, 2008
A USD 400 million counter-narcotics package to stem violence in Mexican border cities and curb the clout of drug cartels was approved by a U.S. Lower House committee despite fierce opposition on the political left and right. The House Foreign Affairs Committee passed the bill that would authorize U.S. officials to send equipment to Mexico, train Mexican police and military personnel and crack down on gun smuggling from the U.S. The full House later passed the so-called Merida Initiative on a 256-166 vote.
U.S.-Trained Forces Reportedly Helping Mexican Cartels
May 14, 2008
A U.S. Republican legislator told the U.S. Congress that as many as 200 U.S.-trained Mexican security personnel have defected to drug cartels to carry out killings on both sides of the border and as far north as Dallas. The renegade members of Mexico's elite counter-narcotics teams trained at Fort Benning, GA., have switched sides, contributing to a wave of violence that has claimed some 5,000 victims over the past 30 months, including prominent law enforcement leaders. Meanwhile, Mexican courts are giving stiff sentences to soldiers that defect to organized crime.
SSP Claims Advances In Fight Against Drug Cartels, Executions Surpass 4,000
May 12, 2008
Public Securtity Minister Genaro Garcia Luna has claimed significant advances in the fight against organized crime. Garcia Luna said that the recorded number of arrests, as well as seizures of arms, drugs and cash, since the beginning of the Calderon administration, were “without precedent.” However, drug-related murders have climbed to almost 1,200 so far this year – higher than during the same period for 2007 – and have surpassed 4,000 since President Calderon took office. At an event, President Calderon called on Mexicans to unite in the fight against drug gangs and organized crime: "We have to unite to confront this evil. Together we Mexicans have to definitively and categorically say, 'enough already.'"
Mexico Sends More Troops To Sinaloa To Fight Drug Gangs
May 14, 2008
The government sent 2,723 federal troops and police into the drug gang-plagued state of Sinaloa, where 2,000 soldiers had already been deployed, following a wave of police murders across the country in past weeks. Federal Attorney General Eduardo Medina Mora said that the government is seeking to destroy the powerful Sinaloa drug cartel, headed by Joaquin “El Chapo” ("Shorty") Guzman, Mexico's most wanted man. Medina Mora said that the last few weeks have been very violent in Sinaloa, with deaths and executions, with a bigger show of arms, brutality, and firepower. A group of 10 to 12 heavily armed threw grenades and opened fire on a police station in the town of Guamuchil, in Sinaloa, just one day after President Calderon sent the reinforcements to the said location.
Three Mexican Police Chiefs Seek Political Asylum In U.S.
May 14, 2008
A U.S. Customs and Border Protection (CBP) official said that three Mexican police chiefs have requested political asylum in the U.S. as violence escalates in the Mexican drug wars and spills across the U.S. border. According to the deputy commissioner of CBP, in the past few months the police officials have shown up at the U.S. border fearing for their lives. Meanwhile, other police chiefs such as Ciudad Juarez’s, in the state of Chihuahua, are submitting their resignations following the string of killings that included some of their top officers.
Police Say Beltran Leyva Brothers Ordered Murder Of Federal Police Chief
May 12, 2008
Federal officials have said that the Beltran Leyva brothers, linked to the Sinaloa cartel, ordered the killing of acting federal police chief Edgar Millan. Five people have been arrested and charged in the killing of Millan; investigators said the group that carried out the assassination was led by corrupt federal police officer Jose Antonio Montes Garfias, 41, who was arrested with several incriminating documents. Among them were lists of cars used by top commanders in the federal police and records of drug shipments in and out of Mexico City’s international airport.
Mexico Makes Biggest Drug Seizure Of 2008
May 16, 2008
The Defense Ministry (SEDENA) said that troops seized 1.2 tons of cocaine in an operation in the state of Campeche, the biggest drug seizure thus far this year. SEDENA said that the Mexican Air Force (FAM) detected and tracked a plane that had illegally entered Mexican air space and that landed at night on a clandestine air strip in Campeche. It said army personnel surrounded the area and set up checkpoints as part of the operation to locate the aircraft and its contents. A day earlier, thieves looking for pseudoephedrine, which is used to manufacture methamphetamine, stole 28 containers of antibiotics by mistake from the Mexico City airport's customs area.
Men Dressed As Federal Police Help Six Alleged Drug Hit Men Escape From Jail
May 17, 2008
A group of 20 men pretending to be federal police agents helped six alleged drug-trafficking hit men escape from the Duport-Ostion penitentiary in the port town of Coatzacoalcos, in the state of Veracruz. Prison officials told authorities that a group of men dressed as federal police and carrying official documents walked into the prison and said they had orders to move the six men to Mexico City. Prison officials said they discovered later that it was all a setup. Officials are searching for the fugitive prisoners, and authorities are investigating further to ensure no prison employees were involved in the escape.
Tijuana Doctors Launch Protest Against Violence Against Medical Professionals
May 15, 2008
Doctors at Tijuana’s public and private hospitals and clinics stopped seeing non-emergency patients to protest the rise in violence against medical professionals in the region. Doctors at Tijuana's General Hospital, one of the largest and best known medical facilities in the city, said they changed patients' appointments or attended to them before 8 a.m. when the four-hour protest began. Hospital operations returned to normal at noon. Medical professionals decided to stop seeing patients who were not in need of urgent care as a way to call authorities' attention to the violence. An estimate number of protest participants was not available.
PGR: Mexico Has Become A Producer Of Counterfeit Dollars
May 18, 2008
The Federal Attorney’s Office (PGR) said that Mexico has become a producer of counterfeit dollars and that it is an activity that has deepened the country’s public and national security issues. PGR did not disclose an estimate amount of the falsified dollars and said that the fake currency is produced by organized crime, mostly by cells that do drug trafficking and provide counterfeit identity documents. The director of security for the central bank (Banxico) said that in 2007, the bank received 211,415 fake bills and coins, which is 10.6% less than compared to 2006. Nevertheless, Banxico said that although the number of falsified currency items fell, the worth of fake money grew 31.3% compared to 2006, from MXN 38.3 million to MXN 50.3 million.
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Sports
Ochoa Lifts Others In Climb To Top
May 17, 2008
Time Magazine recently named Mexican golfer Lorena Ochoa one of the 100 most influential people in the world. Amongst the facts that led to such a recognition are the fact that Ochoa supplanted Swedish golfer Annika Sorenstam as #1 on the LPGA Tour and joined her as a Hall of Famer, but mostly that she has done much in an attempt to transform some of the most poverty-stricken areas of her native Jalisco. Ochoa, 26, fourth on the career LPGA money list with USD 11.9 million and earning a reported USD 10 million a year in endorsements, pledged her earnings toward her foundation and what has become La Barranca School in the outskirts of Guadalajara. La Barranca uses an experimental curriculum including music, theater, judo and other nontraditional tools to educate about 250 students.
Mexican President Of World Volleyball Federation To Retire After 24 Years
May 14, 2008
Ruben Acosta is stepping down after 24 years as president of the international volleyball federation (FIVB). The 74-year-old Mexican plans to retire at the FIVB congress next month in Dubai, two years before the end of his current mandate. Acosta was instrumental in promoting the growth of indoor volleyball as a global sport and getting beach volleyball onto the Olympic program. Acosta changed the rules of Volleyball to make it television-friendly and affiliated more nations (220) than any other Olympic sport.
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Arts & Culture
Charity Concerts Draw 380,000; Magnates Donate USD 200 Million
May 18, 2008
Almost 30 figures from the Latin American music scene performed before 380,000 people at twin concerts against child poverty sponsored by the Latin America for Solidarity Foundation (ALAS) in Mexico and Argentina, with Miguel Bose and Shakira, respectively, as the headliners. The alliance of Ibero-American artists, intellectuals and businessmen sought to raise awareness among the audience that 32 million children age 6 and younger live in poverty in the region. In Mexico City (DF), about 200,000 people filled the Zocalo, Latin America's largest plaza. Mexican billionaire and founding member of ALAS, Carlos Slim, who donated USD 200 million to fight poverty in Latin America, along with Howard Buffett – son of U.S. billionaire investor Warren Buffett – was also present at the DF event.
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