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Energy
Weatherford Wins USD 870 Million Drilling Contracts
June 3, 2008
Pemex has awarded the Mexican unit of global provider of drilling and production technology and services, Weatherford International (WI), two drilling contracts worth USD 870 million for a drilling program in the Chicontepec basin, in what industry sources said were low bids that could undercut margins in the Mexican market. Oil-services firms have a history of charging higher rates in Mexico compared to other oil-producing countries because of stiff contract terms that limit the ability to incorporate cost overruns. The Chicontepec basin which should see it’s output double to 65,000 barrels a day between now and the end of the year as a 500-well program Pemex launched last year makes progress. Pemex expects output to top 500,000 barrels a day by 2017 at the basin, a main pillar in the company's strategy to replace traditional oil fields where output has already peaked.
Oil Experts Differ On Virtues Of Deepwater Spending
June 5, 2008
A national debate where oil geologists and engineers exchange views with lawmakers on a controversial energy reform bill currently unfolds in the Senate. The bill includes lower taxes and more flexible, incentive-based contracts for deepwater projects. All major political parties agree Pemex needs to act fast to reverse the troubling production trend, but diverge over where to focus spending. Some experts say Pemex should focus on the shallow waters of the Gulf of Mexico and new areas on land as it is cheaper and less risky. Others say the company should focus in deep water.
Mexico’s Oil Subsidies Surpass Public Education Budget
June 1, 2008
Experts and political analysts have criticized President Calderon’s subsidies to gasoline prices and called it a populist measure. Experts said that the Calderon administration destines USD 20 billion to subsidize gasoline prices, a figure that surpasses the Public Education Ministry’s (SEP) 2008 budget, which amounts to USD 16 billion. Analysts call Calderon’s measures populist as they would be implemented to avoid social unconformity and protests deriving from hikes in oil prices or the global food crisis, but would not address the problems’ roots. Experts criticized the current administration for implementing short-term policies based on subventions.
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Mining
Hochschild Fully Acquires San Felipe Project For USD 51.5 Million
June 5, 2008
Latin American silver and gold miner Hochschild Mining acquired joint venture partner Grupo Serrana’s stake at its existing San Felipe project, in the state of Sonora, for USD 51.5 million in cash. The project has total resources of 2.32 million tons and is expected to launch production in 2010. The firm signed a deal in 2006 with Grupo Serrana to gain a 70% stake by contributing funds for exploration and mine development. However, that agreement has been terminated following the closure of the deal to purchase the whole project. The project has silver, zinc, lead and copper.
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Banking, Insurance & Finance
President Calderon Calls For Lower Interest Rates
June 5, 2008
President Calderon said that his administration would like to see the central bank (Banxico) lower interest rates. President Calderon said Mexico's inflation was about the same as that of the U.S., while interest rates are much higher. While the U.S. Federal Reserve has cut interest rates aggressively since last September in response to the credit crunch and a sharp slowdown in economic growth, Banxico has held its overnight policy rate steady at 7.5% since last October, citing concerns about inflation pressures.
Mexico’s Insurance Sales Rise In 1Q
June 4, 2008
According to Mexico’s Insurance Association (AMIS), consumers acquired more insurance products during 1Q than compared to 1Q 2007. AMIS said that insurance sales grew 10% during the said period, from MXN 47.8 billion to MXN 52.6 billion. The insurance and surety regulator (CNSF) said that pension insurance was the sector that grew the most during 1Q to 19.7% regardless of the controversy derived from a new pension fund law that entered fully into effect in March. Data from AMIS showed that companies with higher sales during the said period are MetLife Mexico, GNP, ING, BBVA Bancomer and Banorte Generalli.
BBVA Bancomer To Sell MXN 5.08 Billion In Mortgage Bonds
June 5, 2008
Mexican-Spanish bank BBVA Bancomer has registered to make its third issuance of residential mortgage-backed securities for MXN 5.08 billion later this month in what will be the largest single issuance of its kind on the local market. BBVA Bancomer said the securities, which form part of a larger five-year MXN 20 billion program, will have a term of about 20 years. BBVA Bancomer's brokerage unit is managing the sale. To date, the bank has sold MXN 3.65 billion in mortgage bonds.
Allianz Acquires Stake In Fondika Mutual Fund Firm
June 4, 2008
German insurance and banking group Allianz said that it has acquired a minority stake in Mexican mutual fund distributor Fondika as part of its strategy to boost its financial services offering aimed at consumers. Fondika started operations in 2003 and is one of a handful of local firms specialized in distributing third-party mutual funds to individual investors. The new company, Allianz Fondika, currently sells 211 mutual funds on behalf of 14 fund operators, including Prudential Financial and JP Morgan Chase. Allianz Fondika has about 7,500 accounts and MXN 1.4 billion in assets under custody.
Compartamos Bank In Pact With Oxxo Store Chain
June 3, 2008
Mexican micro-finance bank Banco Compartamos said it signed an agreement with fellow convenience store chain Oxxo by means of which Compartamos’ clients can pay their loans at Oxxo stores. Compartamos said that the alliance follows a four-month pilot test in the state of Veracruz. Oxxo, run by Mexican brewer Femsa, had 5,636 stores at the end of 1Q. Compartamos specializes in small loans to low-income individuals and small businesses.
Banco Del Bajio Sees Growth In Small Business Loans
June 4, 2008
Mexican bank Banco del Bajio expects to grow its loan portfolio close to 30% this year as it taps demand by the country's small businesses for credit. Guanajuato-based Banco del Bajio, one of Mexico's top 10 banks with MXN 56.12 billion in assets at the end of March, has carved out a lucrative niche in recent years lending to small- and medium-sized businesses in the central and western regions of the country. The bank operates in 21 states and 43 cities; its performing loan book grew 23.8% on the year to MXN 44.22 billion at the end of 1Q led by commercial and mortgage lending.
SCJN To Protect Owners Of Stolen Cards
June 5, 2008
The Supreme Court (SCJN) said that consumers will now be able to refuse and contest charges to their credit cards that they do not acknowledge as theirs. Credit card users will be allowed to contest the charges of cloned or stolen cards even before having filed a theft or loss report. The measure will be applied throughout the country and banks will have to answer for charges from lost and misused cards, and from stolen cards.
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Business & Industry
Q-Cells To Invest USD 3.5 Billion In Mexico
June 6, 2008
German high-performance solar cells producer Q-Cells will invest up to USD 3.5 billion in a new thin-film module production plant in the state of Baja California to supply U.S. and Latin America markets with a new generation of solar panels. The investment, which will be the German group's first in the Americas and is thought to be one of the biggest private investments in Mexico this year, could create 4,500 new jobs for highly trained workers. Most of the production from the first 25-50 megawatt phase of its facility is set to go to the U.S. Eventually, however, Q-Cells expected to produce between 400-600 megawatts of panels by 2010 from its Mexicali plant, much of which would be sold both in Mexico and the rest of Latin America.
Marti Planning To Invest MXN 800 Million
June 6, 2008
Mexican sportswear and sport accessories retailer Grupo Marti (GMarti) will invest close to MXN 800 million in nine Sport City clubs and 16 shops within the next 15 months. In each sport club, the Group will invest between MXN 53 and MXN 64 million; while in each of the seven Nike stores, and the nine Marti stores planned, they estimate a USD 1 million investment. These investments will add to the MXN100 million to be spent in the construction of Sport City College, which they expect to inaugurate in the summer of 2009. Sport City Executive, which will provide services to 2,500 partners in Mexico City, will be added to the Sport City brands.
Alsea Buys 75% Of Domino's Pizza Chain In Colombia
June 4, 2008
Mexican fast-food restaurant operator Alsea said it acquired 75% of Dominalco, which operates Domino's Pizza franchises in Colombia. Alsea said the acquisition expands its presence in the five biggest economies in Latin America and increases the number of its establishments outside Mexico to 121. Alsea also has 935 establishments in Mexico, including Domino's Pizza, Starbucks Coffee shops, and Burger King Restaurants. In addition, Alsea said that it has opened its first Starbucks Coffee store in Argentina, and that it was not able to close its proposed acquisition of casual dining chain Italiani's because the "original terms and timetables" were not met.
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Automotive
GM Unveils Expansions At Northern Mexico Plant
June 5, 2008
U.S. automaker General Motors (GM) said it has increased its operations in the state of Coahuila with the opening of a new six-speed transmissions plant and expansion of an existing six-cylinder engines plant. The expansions, which will directly result in 875 new jobs, are the outcome of USD 1.36 billion that GM has invested in its complex in the city of Ramos Arizpe in the past year. GM said the new transmissions plant has the capacity to build about 1 million transmissions per year for several models. Annual production capacity at the engines plant will be increased by nearly 60% to 940,000 units per year.
GM Plans To Close Three North American Plants, Reviews Hummer's Future
June 3, 2008
U.S. automaker General Motors (GM) said it is closing three truck and SUV plants in the U.S., and Canada and that it will stop producing a model at a Mexico plant. GM said it will stop building the Chevrolet Kodiak medium-duty truck at its plant in the city of Toluca, in the state of Mexico (Edomex), in 2H. The plant, which produced an average of 2,500 of the trucks in 2006 and 2007, will continue its foundry operations and will also keep building engines and Chevrolet Silverado pickup trucks. GM said it does not intend to close any of its Mexican plants. GM also said the Hummer brand will be reviewed and potentially sold or revamped.
Auto Unions Agree To Salary Cuts
June 5, 2008
Mexican auto unions are taking a cue from U.S. labor leaders by offering two-tier hiring schemes and salary cuts that bring already low wages down to near-Chinese levels. Mexican wages are being pushed down and were apparently key to persuading Ford Motor to direct many of the 4,500 new jobs involved in building Fiestas to the Ford plant in Cuautitlan, on the outskirts of Mexico City. Union leaders at the plant said they had agreed to cut wages for new hires to about half of the current wage of USD 4.50 per hour. Starting wages at some plants in Mexico have been two-tiered, to as little as USD 1.50 per hour.
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Construction & Infrastructure
ICA Secures MXN 6.06 Billion In Financing For Road Project
June 4, 2008
Mexican construction company ICA said it secured long-term financing of MXN 6.06 billion for a road project in central Mexico. ICA said the loan is for the construction of a 36.6-kilometer stretch of the Nuevo Necaxa-Tihuatlan highway, a project it won last year in partnership with Spain's Fomento de Construccion y Contratas (FCC). The consortium won a 30-year concession to expand, maintain and operate the 85-kilometer toll road between Mexico City and the Gulf coast port of Tuxpan, in the state of Veracruz. Banco Santander, with the participation of Dexia and HSBC, structured the loan.
Bancomext Sells Chile Road Concessions For USD 553 Million
June 3, 2008
Mexican export development bank Bancomext said it sold two Chilean toll road concessions to Spain's Global Via Infraestructuras for USD 553 million. The concessions, Sociedad Concesionaria Autopista del Aconcagua and Sociedad Concesionaria Autopista del Itata, were put up for sale in January. The toll roads are in full operation and their concessions expire in 2020. Bancomext acquired the highways from Mexican construction company Grupo Tribasa, which restructured its debt several years ago and emerged from bankruptcy proceedings as infrastructure operator Pinfra.
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Transportation
Safran Inaugurates New Plant In Mexico
June 4, 2008
French provider of maintenance for aircraft parts Safran has inaugurated a new facility in the state of Queretaro. The Snecma America Engine Services facility will guarantee the maintenance of the CMF 56-5 engines for the A320 Airbus and it will begin working on the CMF 56-7B engine for the 737 Boeing in 2009. Safran, which already has six plants in the country, inaugurated three of them in one year. Safran’s new plant will create 200 direct jobs and the company already employs 3,800 people in Mexico.
Aeromexico Launches New Charter Airline; Mexicana Inaugurates Two Routes
June 4, 2008
Mexican airline Aeromexico said it has created a new carrier that specializes in charter flights. Aeromexico said the new airline, Aeromexico Travel, will offer passenger and cargo service using MD80 planes without fixed routes or itineraries. The charter line, based at the Mexico City International Airport, will operate across the Americas, serving tour operators, companies, sports teams and government agencies, among others. Meanwhile, Mexican airline Mexicana has also inaugurated two direct flights between Mexico City and both Calgary and Edmonton, Canada.
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Telecommunications & Technology
Mexico Needs USD 25 Billion To Develop Telecommunications Infrastructure
June 5, 2008
According to the National Development Funding Program 2008-2012 (PNFD) Mexico needs investment amounting to some USD 25 billion during the next four years in order to improve its lingering telecommunications industry. The government said that despite the telecommunications sector has grown at levels above those at which the gross domestic product (GDP) has grown, it still is below developed countries’ standards.
Telmex Confesses Inability To Provide Quality Triple Play Services
June 5, 2008
Telmex said it lacks the required capacity to provide triple play services with the same efficiency and quality than Cable TV providers. Telmex’s inability to efficiently provide triple play services is due to its limited infrastructure to offer the said services. Meanwhile, Telmex also said that the Federal Telecommunications Commission (Cofetel) is being politically and economically pressured to avoid changing the Telco’s concession and prevent it form offering TV services, despite Telmex’s alleged willingness to pay additional licensing fees.
Telmex Invests USD 27 Millon In New Data Center
June 6, 2008
Telmex invested USD 27 million in a data center on the outskirts of the Colombian capital Bogota. Telmex said the 7,200-square meter data center is the largest in South America. The data center generated 230 indirect and direct jobs. In the past two years, Telmex acquired six cable TV operators in Colombia and now controls about 56.5% of the country's market, with about 1.07 million customers. Last year, Telmex announced it would invest USD 340 million to upgrade its networks in order to offer its subscribers triple-play services.
Axtel Eyeing Alestra Acquisition; Starts Operations In Matamoros
June 6, 2008
According to JP Morgan Securities, Mexican fixed-line phone company Axtel is looking at buying long distance and corporate communications provider Alestra in what would be its second large deal in less than two years. The acquisition is expected to happen in the short to medium term, subject to price for the asset. Axtel consolidated its position as the country's number two fixed-line operator through the acquisition of long-distance carrier Avantel for about USD 516 million in late 2006. Axtel has begun operations in Matamoros, in the state of Tamaulipas, the first new city of the firm’s 2008 expansion program.
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Media & Entertainment
DIRECTV To Launch Azteca Mexico Exclusive Channel
June 5, 2008
Azteca Networks, the provider of Azteca America and DIRECTV, announced the launch of Azteca Mexico, a brand new 24-hour satellite-only channel to be aired through DIRECTV Mas in the U.S. Azteca Mexico will offer exclusive programming from Mexican broadcaster TV Azteca’s three Mexican networks: Channel 7, 13 and Proyecto 40 and will differ from programming viewers receive on broadcast network Azteca America. Azteca America is the U.S. unit of TV Azteca. Azteca Mexico will offer viewers programs in the U.S., many of which will be shown at the same time as they air in Mexico on TV Azteca.
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Farming & Agriculture
Cargill To Win MXN 1.2 Billion From Corn Subsidies
June 6, 2008
Canadian agricultural products maker Cargill will earn MXN 1.2 billion in six months as the government awarded a MXN 625 subsidy per ton of corn to firms that commercialize the grain. Cargill recently acquired 900,000 tons of corn through a contract. Several ministers and underministers agreed on a gradual increase on every ton of corn in order to guarantee the sufficiency of the grain and prevent hikes in tortilla prices.
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Hospitality & Tourism
AMPI: Mexico Leading Recipient Of Investment For Tourist Real Estate
June 4, 2008
According to figures from the Mexican Association of Professional Realtors (AMPI), Mexico is the leading recipient of investment in the tourism sector in Latin America and the Caribbean and has become one of the main recipients of the said investment in the world. AMPI said that there are 427 tourist developments in Mexico and that the sector grew 6% in 2007. According to figures, U.S. “Baby Boomers” represent a significant part of the said market; about 1 million U.S. citizens live in Mexico and one out of four Americans living abroad resides in Mexico.
Red Cross Officials Rescue 120 From Boat That Wrecks Off Cancun
June 8, 2008
Rescue workers saved the nearly 120 people aboard the catamaran Sea Star, which sank off the resort city of Cancun, in the state of Quintana Roo. The shipwreck occurred on the stretch of water between Cancun and Isla Mujeres in a reef area known as Punta Cancun. The boat, owned by Caribbean Carnival and with the capacity to carry 250 passengers, sank halfway in the water. An 18-year-old Texas woman was declared brain dead after suffering extensive injuries after the Sea Star sank. The cause of the accident is still under investigation, but officials say the vessel was carrying more people than allowed. The boat caused damages to 40 meters (130 feet) of reef in the Chital Grande area.
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Economy
Remittances Fall 2.37% Year On Year In 1Q
June 2, 2008
The central bank (Banxico) said that the amount of money sent home by Mexicans living abroad fell 2.37% during the first four months of this year compared with the like 2007 period as the U.S. economic growth slowed. Remittances to Mexico, one of the country's top sources of foreign currency, totaled USD 7.3 billion during the period. However, remittances edged slightly higher in April from the year-ago month after slumping in March. Mexicans living abroad sent home USD 2.02 billion in April, 0.5% more than in April 2007 and up 3.6% from March.
Mexico May Consumer Confidence Hits Four-And-A-Half-Year Low
June 4, 2008
The National Statistics Institute (INEGI) said its consumer-confidence index fell to 94.2 last month from 97.8 in April and 107.3 in May 2007. It was the lowest reading for the index since November 2003. The index fell in all five categories, which deal with consumers' views of their personal economic situations and prospects, the country's economic situation and prospects, and perceived ability to buy big-ticket items. Consumers have been particularly affected by rising food prices, which were up 9.2%.
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Border & Migration
Immigration Prosecutions Hit New High, Illegal Crossings From Mexico Fall 15%
June 2, 2008
U.S. federal law enforcement agencies have increased criminal prosecutions of immigration violators to record levels, in part by filing minor charges against virtually every person caught illegally crossing some stretches of the U.S.-Mexico border. Before Operation Streamline, as the program is known, most Mexican nationals caught at the border were fingerprinted and returned to Mexico without criminal charges. Operation Streamline is now in place in parts of Texas and Arizona. U.S. federal officials credit the program and other measures for contributing to a 20% drop in apprehensions of illegal immigrants on the border in 2007, to 859,000. The figure is on track to drop an additional 15% this year.
Latino Immigrants Hit By Jobs Shortage
June 5, 2008
According to a report by the Pew Hispanic Center, Latino immigrants were especially hard hit over the last year by the slump in the U.S. construction industry, reaching 7.5% unemployment in the first three months of 2008. The loss of construction jobs by immigrants from Latin America contributed to a spike in unemployment among all Latino workers to 6.5%, compared with 4.7% unemployment for non-Latino workers. Job loss was particularly severe for Mexican immigrants, whose unemployment rate rose to 8.4% from 5.5% in 2007. Of 247,000 jobs lost by Latino workers in the construction industry in 2007, workers born in Mexico lost 152,000 jobs, or about 60%.
Domestic Workers In The U.S. Sue, Lobby, Organize For Workplace Rights
June 4, 2008
Last June, immigrant household workers at the United States Social Forum in Atlanta – a gathering of social activists – formed the National Domestic Worker Alliance to campaign for state and federal laws guaranteeing basic labor rights. The alliance, made up of 20 organizations from across the U.S., held the first ever national convention for domestic workers in New York City, where the host organization, Domestic Workers United, is pushing state lawmakers to sign a Domestic Workers' Bill of Rights. That legislation would be the first of its kind in the U.S.
Mexican Navy Detains 34 Cuban Migrants In A Yacht Near Cancun
June 7, 2008
The navy said it has detained 34 Cuban migrants who were in a yacht off Cancun's coast, in the state of Quintana Roo. Navy personnel found 28 men, four women and two children during a routine patrol near the resort. The migrants told authorities they left Cuba on a makeshift boat and while at sea were spotted by two men in a yacht who offered to take them to the U.S. Most Cubans who arrive in Mexico are released after being held 90 days at an immigration center.
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Justice, Safety & Crime
Merida Initiative Saved At 47th Mexico-U.S. Interparliamentary Group
June 9, 2008
U.S. legislators and their Mexican counterparts revived hope of approving a controversial U.S. aid package that would help embattled Mexican police fight narcotics traffickers at the two-day 47th Mexico-U.S. Interparliamentary Group meeting in Monterrey, in the state of Nuevo Leon. U.S. lawmakers offered to ease conditions tied to the USD 1.4 billion drug-fighting plan for Mexico and Central America after the Mexican government called it a threat to sovereignty. Mexico has rejected the so-called Merida Initiative because of a series of demands by the U.S. Congress that the aid be subject to monitoring and other conditions.
U.S. Drug Czar Warns Aid To Mexico At Risk
June 4, 2008
White House drug czar John Walters urged the U.S. Congress not to "sabotage" relations with Mexico and pass a USD 1.4 billion anti-narcotics package to help crush drug cartels. Congress has scaled back the so-called Merida Initiative, a three-year plan to provide Mexico with aircraft, equipment and training to fight drug traffickers. The Senate version includes amendments aimed at protecting human rights, but which Mexico says would require constitutionally unacceptable changes to its laws. Mexico calls the conditions an infringement on its sovereignty.
Mexico Asks World Court To Block Executions In U.S.
June 5, 2008
Mexico appealed to the International Court of Justice (ICJ) in The Hague to order the U.S. not to proceed with the executions of any of the 51 Mexican citizens sitting on U.S. death rows. The Foreign Affairs Ministry (SRE) said Mexico is also asking the ICJ for clarification of the court's 2004 decision instructing the U.S. to "review and reconsider" the death sentences handed down to the 51 Mexicans who were denied their right to consular notification. The most urgent case is that of Jose Ernesto Medellin, who is scheduled to be put to death in Texas in two months for the 1993 rape and murder of two teenage girls.
Observers Fear The Army Deployment Could Hurt Democracy; Civil Institutions
June 3, 2008
Although the Mexican army has been able to quiet drug violence in some hot spots, political observers say the deployment of thousands of soldiers could undermine civilian institutions and jeopardize Mexico's evolving democracy. Critics say the military lacks the training and sensibilities for such work, and fear it will trample on the rights of ordinary Mexicans. The army, with its low salaries and high desertion rate, also could prove as vulnerable to corruption as police, who often have acted as hired guns for smugglers. Almost everyone agrees that there are few good alternatives to the army unless the government can improve the overall professionalism of the police, at least at the federal level.
U.S. Drug Officials Nab Record Amounts Of Cocaine
June 5, 2008
The director of the U.S. Office of National Drug Control Policy, John Walters, said U.S. authorities seized a record 316 metric tons of cocaine in 2007. The seizures, he said, have led to a 21% jump in the price of cocaine and a 10% drop in the purity of the drug. Walters spoke at Fort Bliss, just outside El Paso, during meetings with The Interdiction Committee, a multi-agency committee focused on stopping the flow of drugs into the U.S. In addition, U.S. top drug interdiction officials credited Mexico's increasing cooperation with helping force drug traffickers to raise their prices and try new smuggling methods.
Court Sentences Ex-Governor To 36 Years In Prison On Drug Charges
June 5, 2008
A federal court sentenced Mario Villanueva, the former governor of the state of Quintana Roo from 1993 to 1996, to 36 years in prison for fomenting drug trafficking. The court’s decision overturns an earlier ruling that had imposed six years on lesser charges. Villanueva is also fighting extradition to the U.S. on charges he helped traffickers ship drugs to the U.S. market. The former governor was released last year after serving six years in prison but was immediately re-arrested on the extradition request.
Mexico Captures Most-Wanted U.S. Sex Offender
June 7, 2008
U.S. Ambassador to Mexico Antonio Garza said that convicted pedophile and the U.S. most wanted sex offender, Jon Savarino Schillaci, was arrested by the National Immigration Institute (INM) and the police of Michoacan. Schillaci was deported and now is in the custody of U.S. authorities. Garza noted that the 36-year-old Schillaci is wanted on charges on evading justice, sexual abuse and distributing child pornography, including while he was in hiding in Mexico.
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Sports
Eriksson Takes Over As Mexico Coach
June 3, 2008
Former England manager Sven-Goran Eriksson was named Mexico’s coach the day after leaving Premier League club Manchester City. Eriksson parted company with Manchester City after leading them to a respectable ninth place in the English Premier League. The owners of the Mexico’s 18 first division clubs, who make up the Mexican federation’s national teams committee, approved the 60-year-old Swede’s appointment. Eriksson was initially the third choice behind Atletico Madrid's Javier Aguirre, who led Mexico at the 2002 World Cup, and Portugal's Brazilian coach Luiz Felipe Scolari.
Argentina Beats Mexico 4-1; Mexico Beats Peru 4-0
June 8, 2008
Argentina beat Mexico 4-1 in a friendly game, inflicting a defeat upon the North American nation in its first game since Sven-Goran Eriksson was appointed as coach. Former England manager Eriksson was only in the stands for the game; he will assume control later this month, and saw Argentina score three goals in the opening half hour to take a grip on the contest. A few days later, Mexico beat Peru 4-0 in a friendly game, with two goals from Fernando Arce in the first 29 minutes.
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Arts & Culture
Moctezuma Ruins Discovered In Mexico City
June 7, 2008
Mexican archaeologists have discovered structures they identified as ruins of the so-called Casas Nuevas (New Houses) of the Aztec emperor Moctezuma during excavations in Mexico City (DF). The National Anthropology and History Institute (INAH) said that the excavations were part of the restoration works for the National Museum of the Cultures (MNC) in the heart of the capital. The works were also carried out to investigate the bowels of the museum and corroborate historical information about ancient edifices remaining underneath the modern buildings, since DF is built over the ruins of Tenochtitlan, the Aztec capital that was the origin of Mexico City.
Archaeological Treasure Trove In Mexico City Drug Den
June 5, 2008
The National Anthropology and History Institute (INAH) said it found the complete burial of a child of about five years old accompanied by two "cajetes" – similar to deep-dish plates – and a necklace with three objects on it, one of them of polished obsidian in the form of a duck's head, a typical object found in the burials of Aztec children. The remains of the child are being examined by forensic anthropologists to determine its precise age and sex. The remains were found at a building in the marginal neighborhood of Tepito, which is the site of an important market for drugs, weapons and pirated goods.
Egypt Recognizes Mexico’s INAH
June 3, 2008
The government of Egypt recognized Mexico’s National Anthropology and History Institute (INAH) during the celebration of the 50th anniversary of the Mexican-Egyptian diplomatic relations. Egyptian authorities recognized INAH’s efforts in promoting the exchange of cultural heritage between the two Nations. The event was held at the National Museum of Anthropology, which hosted the “Isis and the Feathered Snake: Pharaoh Egypt/ Pre-Hispanic Mexico” exhibit.
Americas Society Recognizes Carlos Fuentes
June 4, 2008
Americas Society held its 28th Annual Spring Party at Cipriani Wall Street, located in New York City's Financial District. At the party, which was attended by some 600 prominent members of the international culture, business, and diplomatic worlds, Americas Society awarded gold medals to Mexican writer Carlos Fuentes and other guests for their contributions to the World’s culture.
Deutsche Oper Recognizes Mexican Composer
June 2, 2008
Berlin’s opera Deutsche Oper recognized Mexican composer Leonardo de la Rosa as one of the best Latin American contemporaneous composers and awarded him the Klang der Welt (Sounds of the World) prize during his work’s World premiere. Deutsche Oper has been awarding the Klang der Welt prize for 11 years to chamber music’s new talents worldwide.
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Other
Mexico Hit By Floods Following Tropical Storm "Arthur"
June 3, 2008
Nearly a thousand families in Mexico have been affected by floods after tropical storm Arthur weakened to a tropical depression while crossing the Yucatan peninsula. Thousands of residents of 982 families in about 20 rural communities in the state of Tabasco have been affected by the floods. No casualties have been reported. According to the National Water Commission (Conagua), the water levels of most rivers in Tabasco have decreased, except the Pichucalco River along the border with the state of Chiapas. The governor of Tabasco said the state had officially announced an emergency in May as the country heads into a season of tropical storms and cyclones.
Mexico To Monitor Sharks With Sonars To Prevent Attacks
June 5, 2008
Sharks will be monitored for their behavior off Mexico's Pacific coast to determine why they are swimming so close to land. Environmental officials said scientists will attach transmitters to the marine predators and track them by satellite. The operation comes after sharks recently killed two surfers and wounded a third in three separate incidents in less than a month near the southwestern resort of Ixtapa-Zihuatanejo, in the state of Guerrero.
Drunk Driver Kills Cyclist, Injures 9 Others In Mexico
June 2, 2008
A cyclist was killed and nine others injured when a drunk driver hit participants in a road race in the city of Matamoros, in the state of Tamaulipas. The driver, a U.S. citizen identified as 32-year-old Jesse Campos, hit the group of riders from the Camaleones cycling club at kilometer 12 of a race from Matamoros to Playa Bagdag. A 30-year-old rider was pronounced dead at the scene and the nine injured riders were taken to hospitals in Matamoros.
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