ManattJones Global Strategies
September 8, 2008
News Briefs
August 25 - 31, 2008
Volume V, Issue 35

Energy | Trade & Investment | Banking, Insurance & Finance | Business & Industry | Automotive |
Construction & Infrastructure | Transportation | Telecommunications & Technology |
Farming & Agriculture | Hospitality & Tourism | Economy | Border & Migration |
Politics | Justice, Safety & Crime | Health & Science | Sports | Other


Energy

Sempra Inaugurates LNG Terminal In Baja California
August 28, 2008
San Diego-based holding company Sempra Energy inaugurated the first liquefied natural gas (LNG) terminal on North America's west coast. The USD 1.2 billion Energia Costa Azul terminal, located at Bajamar, near the tourist city of Ensenada, in the state of Baja California, will have a processing capacity of 1 billion cubic feet per day (bcfd) of natural gas and will pump the hydrocarbon to both U.S. and Mexican consumers.

Samsung Obtains USD 409.3 Million Contract
August 27, 2008
South Korean group Samsung's engineering subsidiary announced that it has been awarded a USD 409.3 million contract for a liquefied natural gas (LNG) terminal in the port of Manzanillo, in the state of Colima. In addition, Samsung said that the project is scheduled to be finished in 2011.

Pemex Launches Tender To Build Steam, Electricity Cogeneration Plant
August 28, 2008
Pemex launched a tender for the construction of the first large-scale steam and electricity cogeneration plant in the Nuevo Pemex Gas Processing Complex (GPC) located in the state of Tabasco. Pemex said that it will start its Electric Energy Cogeneration Program with the said facility. Pemex will be assisted by the Federal Electricity Commission (CFE) and expects the plant to provide its Pemex Gas y Petroquimica Basica division with a capacity to supply 55% of the Nuevo Pemex complex steam demand and meet the totality of its electricity requirements.

Legislators Agree On Methods To Discuss, Analyze Oil Sector Reform Proposals
August 28, 2008
Legislators from the Congressional commissions in charge of analyzing the oil sector reform proposals that were submitted by President Calderon, opposition parties and entrepreneurs have unanimously reached an agreement on a method to issue a ruling on the bills, on the 24 selected issues that will be discussed and analyzed, and on a calendar for the sessions. The ruling is expected to be ready in September.

FAP Presents Oil Sector Reform Proposal
August 25, 2008
Legislators from the leftist parties forming the Broad Progressive Front (FAP), which include the Democratic Revolution Party (PRD), the Labor Party (PT) and the Convergence Party, have presented their alternative oil sector reform bill, which consists of seven proposals. FAP's proposal calls for enhancing Pemex's refining capabilities, ending the subuse of idle petrochemical plants, establishing a national energy fund, and broadening and modernizing pipes, among other points, but always keeping the said activities under the government's control.

Entrepreneurs Submit Oil Sector Reform Proposal
August 28, 2008
The Business Coordinating Council (CCE) and the Centre for Private Sector Economic Studies (CEESP) have submitted their own oil sector reform proposal. CCE said that Pemex needs alliances with firms specializing in exploration and crude oil extraction in deep waters. CEESP proposed that an incentivized contracts system be included in the reform in order to allow private investment in the oil sector without privatizing operations at Pemex. Entrepreneurs demanded participation in the commercialization, transportation, distribution and storage of refined products, petrochemicals and refineries.

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Trade & Investment

Mexico Welcomes MIGA's Investment Promotion Instruments
August 28, 2008
Mexico has concluded its adhesion to the Multilateral Investment Guarantee Agency (MIGA) to promote more foreign direct investment (FDI). As a result, Mexico is now offering investors a variety of instruments that MIGA provides, such as investment guarantees, technical assistance, equity capital, and loans for foreign investment.

DR-CAFTA Textile Cumulating Provisions Entered Into Force For Mexico
August 28, 2008
The U.S.-Dominican Republic-Central America Free Trade Agreement (DR-CAFTA) textile cumulating provisions, allowing textile products originating in Mexico to be used to manufacture woven apparel in Central America and the Dominican Republic, and then exported to the U.S. duty-free, were implemented on August 15. Implementation of this clause will promote regional production and create new synergies and opportunities for the textile and apparel industries in North and Central America.

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Banking, Insurance & Finance

SHCP Awards Housing Credit Insuring License To AIG
August 26, 2008
U.S. insurer American International Group (AIG) announced that the Finance and Public Credit Ministry (SHCP) awarded its AIG United Guaranty subsidiary a license to operate as a housing credit insurer. AIG United Guaranty will now be able to provide the housing credit insurance product directly to financial intermediaries, such as banks and single purpose financial entities (Sofoles).

Scotiabank Mexico Signs Exclusive Guarantee Agreement With EDC
August 27, 2008
Export Development Canada (EDC) and Canadian bank Scotiabank's Mexican unit announced an agreement through which EDC will guarantee Scotiabank Mexico loans in Mexico to either importers of Canadian goods and services or subsidiaries of Canadian companies operating in Mexico. Under the agreement, EDC will guarantee up to 75% of the loan amount, to a maximum of USD 5 million. This is the first guarantee agreement that EDC has signed with a financial institution in Mexico.

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Business & Industry

Nuevo Leon Ministry: FEMSA's Venezuelan Operations Could Face Expropriation
August 25, 2008
According to the state of Nuevo Leon's Economic Development Minister, Mexican conglomerate Fomento Economico Mexicano (FEMSA) should sell some assets of its Venezuelan operations in order to avoid possible expropriation by the Venezuelan government. The Minister said that FEMSA should see Cemex's recent expropriation by Venezuelan President Hugo Chavez as an example and act in a preemptive way. The Minister also noted that in case of an expropriation, FEMSA should seek federal and not local assistance in eventual negotiations with Venezuela.

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Automotive

ArvinMeritor Dedicates Manufacturing Facility In Nuevo Leon
August 26, 2008
Global supplier of integrated systems, modules and components to the motor vehicle industry ArvinMeritor dedicated a new USD 30 million manufacturing facility in the Cienega de Flores municipality, in the state of Nuevo Leon. The 400,000-square-foot facility will produce bevel gearing and front nondrive steer axle assemblies for U.S. and Canadian truck OEM assembly plants. The components also will support other U.S.-based ArvinMeritor assembly sites.

Michelin Scraps USD 740 Million Plant In Mexico Plan Due To Demand Slowdown
August 26, 2008
French tire producer Michelin scrapped plans for a USD 740 million second plant in Mexico due to slow demand for tires in North America. Michelin had said in August 2007 that it would build a plant in the state of Guanajuato to supply the North American market.

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Construction & Infrastructure

Venezuela: Cemex Agrees To Hand Over Cement Plants
August 27, 2008
Venezuelan President Hugo Chavez said his government has reached a deal allowing it to take full control of Mexican cement producer Cemex's local plants as the firm does not seem interested in maintaining a minority share in its cement factories. Chavez did not provide any details on what his government might pay Cemex to assume a majority stake in its three Venezuelan cement plants, 30 smaller concrete plants and shipping terminals. Chavez said officials negotiated an agreement with Mexico's ambassador in Venezuela allowing Venezuelan authorities to begin operating the facilities.

Grupo Del Blanco Signs Agreement With Federal Development
August 27, 2008
Mexican provider of construction materials for urban and housing projects Grupo Del Blanco announced a strategic alliance with U.S. developer Federal Development. Grupo del Blanco said that the association will facilitate projects attracting important amounts of investment to Mexico, starting with the Real del Monte Golf & Resort in northern Mexico City. Investment for the housing development and the golf course alone is estimated to amount to approximately USD 500 million.

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Transportation

President Calderon Opens Bidding For Punta Colonet Multimodal Terminal
August 29, 2008
President Calderon has opened bidding for the USD 5 billion multimodal port project at Punta Colonet, located on the Pacific coast, in the state of Baja California. Calderon said that upon completion, Punta Colonet will be able to handle 6 million 20-foot containers annually; the project will include construction of a dock for large-draft vessels and a railroad to connect the port to the U.S. Punta Colonet will be the entry point for much of the freight sent from Asia to North America. The project is expected to create some 80,000 jobs.

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Telecommunications & Technology

America Movil To Invest USD 200 Million A Year In Ecuador
August 25, 2008
Mexican mobile telephony provider America Movil announced plans to invest approximately USD 200 million annually in Ecuador during its 15-year contract as the company aims to boost mobile coverage in rural areas and bring newer technology to its more than 7 million subscribers. America Movil's local unit, Porta, represents a small percentage of the company's overall user base in Latin America. Earlier this year, America Movil agreed to pay the Ecuadorian government USD 480 million to hold on to the concession, which the government threatened to revoke.

Telefonica To Invest USD 40 Million In Veracruz
August 27, 2008
Spanish telephony provider Telefonica announced it will invest USD 40 million in order to broaden its wireless fixed telephony services in the state of Veracruz. Telefonica said that the investment is part of a cooperation agreement it has signed with the state's government, which seeks to provide wireless fixed telephony, localization systems supported by GPS and activating social programs.

Ericsson To Provide Microwave-Transmission Links In Mexico
August 26, 2008
Swedish telecomm solutions provider Ericsson announced that it has received an order for microwave-transmission links for high-speed mobile broadband from Mexican mobile operator America Movil's Telcel unit. Ericsson said it will provide Telcel with microwave transmission links for 2G and 3G/HSPA based on the Ericsson MINI-LINK TN solution. This is a turnkey project in which Ericsson will provide full customer, equipment and field support.

CANITEC Requests Asymmetrical Regulation For Telmex
August 26, 2008
The National Cable Television Industry Chamber (CANITEC) has called for authorities to avoid modifying Telmex's concession, a move that would allow the firm to offer TV services, without applying an asymmetrical regulation first. The Federal Competition Commission (CFC) will soon present a ruling on some companies' alleged dominance in the fixed telephony sector, which could allow the Federal Telecommunications Commission (Cofetel) to apply different regulation to the sector's players. CANITEC also announced it will soon present four complaints against Telmex for alleged dominance in other markets.

Mexicans To Use Cell Phones To Pay Stores, Taxis
August 25, 2008
Foreign and local banks said that Mexicans will be able to pay for small purchases such as restaurant meals and taxi rides using their mobile telephones. Mobile telephone operators Telefonica and Iusacell are teaming up with big banks such as Citigroup to launch the service, marketed at first toward technology-savvy teenagers. Cell phone users will be able to have their bank link their savings account to their telephone so they can make payments to participating stores, restaurants and taxis by sending a text message. Most big banks are participating in the service, but mobile giant America Movil's Telcel has yet to sign up.

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Farming & Agriculture

Mexican Meat Producers Criticize U.S. Government Over Import Ban
August 27, 2008
Mexico's meat producers criticized the U.S. government for banning meat imports from seven Mexican processing plants. Inspectors from the U.S. Department of Agriculture (USDA) in Mexico have removed a pork company, three beef processors and three meat canners from a list of over 50 authorized exporters of meat and poultry to the U.S. Mexican beef producers say U.S. authorities did not notify them of the decision or tell them why the companies' exports were banned. Mexican agricultural and trade officials said they do not plan any immediate retaliation to the U.S. decision.

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Hospitality & Tourism

Informal Hotel Industry Grows 150% In Three Years In Tourist Destinations
August 27, 2008
According to entrepreneurs from the hotel industry, informal hotels and the underground hotel industry in Mexico have grown 150% in the last three years. The businessmen noted that the informal supply of rooms in houses and apartments in tourist destinations amounts to half of the total supply of rooms in the sector. Meanwhile, quality certification associations have said that nine out of ten hotels that are registered with a five star category do not have the required documents to support the rating, nor does the Tourism Ministry (SECTUR) verify quality.

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Economy

SHCP: Mexico's January-July Budget Surplus MXN 91.6 Billion
August 29, 2008
According to the Finance and Public Credit Ministry (SHCP) Mexico registered a budget surplus of MXN 91.6 billion in the first seven months of the year as higher tax and oil income covered a boost in spending. The surplus was 31% smaller than the MXN 127 billion in the first seven months of 2007.

Mexican Current Account Deficit Widened In Second Quarter
August 26, 2008
According to the central bank (Banxico), Mexico's current account deficit widened in the second quarter due to a decline in remittances sent home from workers abroad, as well as to an increase in interest payments and repatriation of foreign profits. Mexico's current account deficit for the three months through June rose to USD 2.02 billion, versus USD 1.49 billion in the first quarter.

Peso Maintains Annual 7.5% Revaluation Against The Dollar
August 28, 2008
According to the central bank (Banxico), the Mexican peso (MXN) has maintained a 7.5% revaluation against the dollar (USD) during the year. The Mexican currency appreciation is backed by the USD 10 billion that have entered Mexico as foreign investors have been acquiring government bonds and keep demand for pesos rising.

Mexico's Peso Ends Weaker On Governor Of Banxico's Comments
August 28, 2008
Mexico's peso (MXN) closed sharply weaker against the dollar (USD), amid a drop in oil prices and comments by the Governor of the Bank of Mexico (Banxico), Guillermo Ortiz, that inflationary pressures from commodity prices are coming to an end. The peso was quoted in Mexico City closing at MXN 10.2310 per USD, its weakest close since mid-July.

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Border & Migration

ICE: Nearly 600 Detained In Mississippi Plant Raid
August 27, 2008
Agents from the U.S. Immigration and Customs Enforcement (ICE) led the largest single workplace immigration raid in U.S. history at the Howard Industries transformer plant in Mississippi. ICE detained 595 immigrants of which about 100 were released for humanitarian reasons. About 475 other workers were transferred to an ICE center in Jena, Louisiana. Those detained were from Brazil, El Salvador, Germany, Guatemala, Honduras, Mexico, Panama, and Peru. The raid has caused panic among Hispanic families in Mississippi.

U.S., Mexican Authorities: Hundreds Of Mexicans Deported From U.S. Every Day
August 24, 2008
According to U.S. governmental figures, hundreds of Mexicans are expelled from the U.S. every day. Sometimes as many as 700 Mexicans leave the U.S. on a daily basis. They include farmers, construction workers, prisoners, nannies, children, and entire families. According to the Mexican government 18,249 youths under 18 were sent back to Mexico by the U.S. in the first six months of this year. Those numbers may include youths detained more than once. U.S. immigration authorities say they do not keep figures on minors.

Edomex To Receive 63,000 Local Migrants This Year
August 23, 2008
According to figures from the State of Mexico's (Edomex’s) State Population Council (Coespo), approximately 62,718 Mexicans from other states will migrate to Edomex in 2008. Although the figure is lower when compared to 2007 results, the state keeps attracting citizens from other central Mexican states. Coespo said that in 2005, 63,777 people established themselves in any of the state's 125 municipalities. The Federal District, Puebla, Veracruz and Morelia are the cities providing more newcomers to Edomex.

Report: Number Of Hispanics In U.S. Schools Doubles
August 26, 2008
According to a report by the nonpartisan research group Pew Hispanic Center, the number of Hispanic students in U.S. public schools is increasing rapidly and nearly one-fifth have difficulty speaking English. The number of Latino students nearly doubled from 5 million in 1990 to about 9.8 million in 2006. As a result, 20% of U.S. public school children are now Hispanic. About 70% of the Latino students speak a language other than English at home, and 18% speak English with difficulty.

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Politics

President Calderon Presents Presidential Report To Congress
September 1, 2008
President Calderon presented his second presidential report to Congress via Interior Minister Juan Camilo Mouriño. The 1,060-page report, divided into two parts, does not convey any political message besides assuring Mexican citizens that "the country's transformation is going on the right path.” In addition, Calderon has begun appearing in several open TV spots to address short messages to the nation, replacing the former speech presidents had to give as they presented their written report on September 1.

U.S. DNC: Obama To Work Closely With Latin American Countries
August 28, 2008
The U.S. Democratic Platform that was unanimously approved by the Democratic National Convention (DNC) announced the commitment of the party's presidential candidate, Barack Obama, to work closely with Mexico, Brazil and Colombia. The Party announced Obama's project to cooperate with the said countries in order to efficiently address issues such as drug trade, poverty and immigration. In addition, Obama has appointed Puerto Rican Federico de Jesus as communications director for Hispanic media in an effort to gain votes from the sector.

Poll Evaluates Politicians' Performance, Results Worsen
August 25, 2008
According to a poll by a local daily, results regarding the perception on President Calderon's performance have worsened. The poll indicated that 11% of those interviewed believe the country will improve its economic situation under the Calderon administration, down from the 37% that had that perception in February 2007. Results in other areas such as security, health and education show the same trend. Politicians were graded by those interviewed; Calderon was graded below seven, and only the governor of the State of Mexico (Edomex) was graded between 7.5 and 8.

Mexican Politician Rincon Gallardo Dies At 69
August 30, 2008
Gilberto Rincon Gallardo, a former socialist presidential candidate who gained respect in Mexico for defending the rights of the disabled, gays and other marginalized groups, has died. He was 69. Rincon Gallardo, born with shortened arms as the result of a congenital birth defect, was the head of the National Council for Preventing Discrimination. A government statement said he died in Mexico City but did not give a cause of death. President Calderon praised Gallardo's work for the rights of the disabled and his contribution to the democratic development of Mexico.

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Justice, Safety & Crime

Juan Camilo Mouriño, Michael McConell Meet On Security Issues
August 26, 2008
U.S. Director of National Intelligence Michael McConell traveled to Mexico and met with Interior Minister Juan Camilo Mouriño to discuss issues on the bilateral security agenda. Both officials were accompanied by staff members from the U.S. and Mexico and evaluated joint security efforts such as the Merida Initiative aid package. Mouriño and McConell agreed to make the implementation of the aid more dynamic and at a hasty pace.

U.S.-Mexico Border Tightened On Drug Cartel Warning
August 25, 2008
U.S. Customs and Border Protection (CBP) said that security is being heightened along the southern U.S. due to a threat that warring Mexican cartels may send hit men into the U.S. Law enforcement officials would not discuss specific security measures being taken at the ports of entry along the border or in the city of El Paso, but confirmed that they received credible information that drug cartels in Mexico have given permission to hit targets on the U.S. side of the border.

Crime Rises In Mexico Despite Increase In Security Budgets, Police
August 25, 2008
The Public Security Ministry (SSP) reported that the number of crimes committed in Mexico between 2006 and 2007 rose 8.6%. Reported kidnappings soared about 45% in the past five years. Arrests, however, fell in the past decade, and only about 26% of investigations are ever completed. SSP's budget has doubled since 2000 to MXN 19.7 billion, while the Attorney General's Office (PGR) budget increased about 94% over the past ten years to MXN 9.3 billion. In addition, police units have grown, and amount to 516,000 officers, or 4.8 officers for every 1,000 inhabitants.

Hundreds Of Thousands March Against Violence In Mexico
August 31, 2008
Hundreds of thousands of people took to the streets in more than 70 cities across Mexico to demand an end to the violence unleashed by organized-crime groups. White-clad marchers ended their protest in Mexico City (DF) during the evening by lighting candles and singing the national anthem. Exact figures on the number of people who turned out for the protest in DF were not available but media outlets estimated that the crowd totaled some 150,000 people despite the rain. President Calderon is receiving anticrime proposals from the 14 civic groups who led the march.

U.S. Drug Demand Threatens Mexico's Democracy
August 26, 2008
According to Daniel Ernesto Robelo from the U.S. Drug Policy Alliance, Mexico's violence and institutional corruption reveal how misguided and futile the recently approved USD 1.4 billion U.S. military aid package – known as the Merida Initiative – is. He said that pouring more money and guns into Mexico will only exacerbate the violence and corruption that are fueled by drug profits and further deepen a conflict that increasingly has civilian casualties. Instead, the U.S. should focus on reducing its own demand for drugs. Treatment has repeatedly been shown to be far more successful and cost-effective than supply-side approaches like military aid, eradication and incarceration.

President Calderon Calls Crime "A Cancer"
August 26, 2008
President Calderon has vowed to eradicate crime, calling it "a cancer." Calderon's comments in a national address came just hours after gunmen attacked police and soldiers in the Gulf coast state of Veracruz. The attack killed an army officer, a policeman and two kidnap victims. One of the gunmen also died in the attack, and two people were wounded. Calderon said 100 federal police, 62 soldiers and 5 navy personnel have been killed in the line of duty this year.

Army Proposes Death Penalty For Cops Linked To Drug Trafficking
August 25, 2008
Some army generals, who are experts in national security, have proposed the creation of a National Police that would have its own judicial system – as the army does – and the death penalty would be the punishment for police officers who have links with organized crime associations. The generals' proposal seeks to have military-like discipline for police officers in order to replace the army in the streets without having a gap in efficiency. The project, treating other public security issues, was sent to President Calderon.

Messages Hung Across Cities Accuse Government Of Protecting Drug Cartels
August 28, 2008
Several banners were hung across cities throughout Mexico accusing the government, including the President, and some army generals of protecting drug lords from the Sinaloa cartel in exchange for huge amounts of money. The messages were hung days after President Calderon, state governors, lawmakers, judges and civic activists unanimously approved the 75-point National Accord for Security, Justice and Legality to combat organized crime.

Dozen Decapitated Bodies Found In Southeastern Mexico
August 29, 2008
Twelve decapitated bodies were found in the state of Yucatan in what appeared to be a spreading of Mexico's brutal drug war to that tourist region. State prosecutor Jose Alonso Guzman said that an anonymous caller alerted authorities to 11 bodies outside the Chichi Suarez ranch, which is located near the city of Merida, Yucatan's capital. Another decapitated corpse was found in the town of Buctzotz, near Merida. Authorities did not indicate a possible motive for the killings but said the investigation will be carried out by the federal Attorney General's Office (PGR).

Mexican Mother Begs Kidnappers To Free Daughter
August 25, 2008
The mother of an 18-year-old girl kidnapped nearly a year ago is publicly begging for her release. Silvia Escalera's plea drew attention to abduction, just days before Mexicans marched against rising crime. Her daughter Silvia Vargas Escalera was kidnapped in September 2007. Speaking publicly about her abduction for the first time, the parents said they agreed to pay a ransom but then lost contact with the kidnappers. Escalera said before news cameras that the ransom offer stands.

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Health & Science

SCJN Refuses To Reverse Capital's Abortion Law
August 27, 2008
The Supreme Court (SCJN) indicated it will uphold a Mexico City (DF) law allowing abortion that has divided the country. Four of the 11 Supreme Court justices said during deliberations that they would vote against declaring the law unconstitutional and said that DF's local congress has the constitutional ability to pass such a law. DF's leftist government legalized abortion last year, allowing doctors to terminate a pregnancy in the first 12 weeks. The federal Attorney General's Office (PGR) and National Human Rights Commission (CNDH) appealed the law to the SCJN.

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Sports

President Calderon Honors Medalists From Beijing Olympics
August 29, 2008
President Calderon congratulated the country's medalists on their triumph in the Beijing Olympic Games. Calderon said when welcoming gold medalists Maria del Rosario Espinoza and Guillermo Perez, and bronze medalists Paola Espinosa and Tatiana Ortiz at his official Los Pinos residence in Mexico City, that "thanks to the performance of these four brilliant youngsters, Mexico advanced from the 59th place in Athens 2004, to the 36th in Beijing.” Calderon asked the athletes to help improve the country's sports system.

Mexican Athletes Are Ready For The Paralympics
August 26, 2008
Mexican Paralympics athletes said they are sure they will return to Mexico from Beijing with good results. The athletes said before traveling to Beijing that they will put forth their best efforts during the competitions to bring gold medals to Mexico and to stay within the top countries at the Paralympics. However, the Mexican delegation may not win the same amount of medals it did before since the number of competitions was reduced and many athletes will not attend. Mexican Paralympics athletes won 24 medals in Athens 2004.

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Other

President Calderon Falls Off Bike, Breaks Shoulder
August 31, 2008
President Calderon's office said he fell off his bicycle and broke his left shoulder. The presidency says Calderon's recovery will take six to eight weeks. He has no plans to change his activities. Calderon was riding around the presidential compound as part of his regular workout when he slipped and fell. The 46-year-old president kept his appointments and met with civic leaders who organized an anticrime march that drew more than 100,000 frustrated Mexicans to the streets.

Mexican Catholic Church Protests Abortion In Mexico City
August 26, 2008
The Mexican Catholic Church and some civil associations have protested Mexico City's abortion law and the fact that the Supreme Court (SCJN) said that the city's Congress had the constitutional right to pass such a law. SCJN has started reviewing the law after it was appealed by the federal Attorney General's Office (PGR) and the National Human Rights Commission (CNDH).

Man, Horses Killed In Mexico Mudslide
August 26, 2008
A mudslide caused by heavy rains flooded an equestrian club in a Mexico City suburb, drowning at least 50 trapped horses and killing a night watchman. The victim, identified as 71-year-old Emilio Campos, was killed while trying to save the horses, which were in their stalls. Two other people injured by the mudslide in the upscale Bosques de las Lomas neighborhood were treated by paramedics. This was the most serious incident caused by the torrential rains that drenched Greater Mexico City.

Minor Damages Reported As Julio Weakened To Tropical Depression In Mexico
August 25, 2008
Tropical storm Julio weakened to a tropical depression after drenching the central section of Mexico's Baja California peninsula. Heavy rains fell on resort-studded southern Baja California as authorities evacuated more than 2,500 families living along riverbeds. Most have returned to their homes. The storm flooded streets, knocked over light poles and damaged shacks, but most damage was minor.

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*If you would like a full version of any of the articles included in this issue, please contact us so we can furnish you with the original. Please feel free to contact us at your convenience if you need further information or advice on a topic of your interest.

 

Sources

Sources: AFP, BBC Monitoring Americas, Bloomberg, Canada Newswire, The Canadian Press, The Chicago Tribune, Comisión Federal de Competencia, Companies' Press Releases, Compranet, Comtex News Network, Diario Oficial de la Federación, Dow Jones Newswires, El Economista, EFE, Excelsior, El Financiero, The Houston Chronicle, La Jornada, Latin America Advisor, Los Angeles Times, Milenio, M2 Communications, El Nuevo Herald, El País, PRNewswire, Reforma, Reuters, Stock Exchange Announcements, Thomson Financial News, United Press International, El Universal, The Wall Street Journal, The Washington Post, Xinhua News Agency.

Contacts

Editor
Rene Herrera

rherrera@manattjones.com
+52-55-5281-8297

Mexico City
Juan Casillas
jcasillas@manattjones.com
+52-55-5281-8297

John Bruton
jbruton@manattjones.com
+5255-5281-8297

Washington, D.C
Helen Wicecarver
hwicecarver@manatt.com
+1-202-585-6536

PLEASE NOTE: This newsletter summarizes recent developments and articles from other publications. It is not meant to express any opinion or advice, legal, consultative or otherwise. COPYRIGHT 2008 by ManattJones Global Strategies, LLC. All rights reserved. ManattJones Global Strategies, LLC, 11355 West Olympic Boulevard, Suite 100, Los Angeles, CA 90064. Phone: (310) 231.5660 Fax: (310) 312.4224; Web site: http://www.manattjones.com.

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