|
Energy
Pemex Earnings Up 43.8% On Oil Exports To U.S.
November 13, 2008
According to figures from the U.S. Department of Commerce (DOC), Pemex’s earnings were up by 43.8% – or approximately USD 9 billion – during the first nine months of the year when compared to the same 2007 period due to increased sales to the U.S. The DOC said Pemex obtained USD 29.7 billion between January and September this year from oil exports to the U.S., up from the USD 20.6 billion it gained in the same 2007 period. However, Pemex’s oil exports to the U.S. during the first nine months of the year were 308 million barrels, down from the 377 million barrels it exported during the like 2007 period.
SHCP To Revise Mexico’s Fuel Prices’ Policy Once They Equal U.S. Prices
November 12, 2008
According to the Finance and Public Credit Ministry (SHCP), the government will revise the country’s fuel prices’ policy once they reach U.S. prices. SHCP said that Mexican crude oil prices have fallen to USD 43 per barrel, down from USD 132 per barrel in July. At the same time, the peso (MXN) has lost an important percentage of its value against the dollar (USD), which helped maintain the oil prices’ stable gap.
Pemex Prepares 35 Services Contracts For 2009
November 13, 2008
Pemex is preparing 35 multimillion pesos contracts for exploration and production to be put to tender in 2009 and which will feature bids from the world’s most important oil companies. The contracts call for exploration and production in deep waters off the Gulf of Mexico and the Chicontepec basin; they are part of the new contracting scheme put in place by the oil sector reform and which contemplates cash payments and incentives for the firms that win the tenders.
Schlumberger, OFS Servicios Win Pemex Contract
November 10, 2008
Pemex Exploracion y Produccion (PEP) said it has awarded a MXN 35.6 million contract to oil services firms Dowell Schlumberger de Mexico and OFS Servicios to estimate the country’s sea area’s oil production and reserves. Works are expected to last 731 days and begin in late November.
back to top
Trade & Investment
INEGI: Gross Fixed Investment Rises In August
November 11, 2008
According to the National Statistics Institute (INEGI), Mexico’s gross fixed investment rose 3.7% in August from the year-ago period. Spending on equipment and machinery grew 10.2%, of which investment in domestically produced items rose 10.6%. Expenditures on imported equipment and machinery climbed 10.1%. Construction investment declined 0.9%. According to seasonally adjusted figures, gross fixed investment slipped 1.79% in August when compared with July.
back to top
Banking, Insurance & Finance
AMFE Sees Tighter Credit Conditions In 2009
November 11, 2008
According to the Mexican Association for Specialized Financial Entities (AMFE), Mexico’s non-bank financial entities will likely pull back on lending next year amid rising loan defaults and slower economic growth. AMFE said sector lending will likely grow between 12% and 15% this year, down from the 25% to 30% observed in previous years, and below its original forecast of between 18% and 20% made in February.
SHCP Agrees To Closure Of American Express Bank’s Representation Office
November 12, 2008
The Finance and Public Credit Ministry (SHCP) has published in the official gazette (DOF) the authorization it awarded American Express Bank (Amex) to close its representation office in Mexico as Standard Chartered Bank has acquired all the social capital representative shares from Amex.
HSBC Completes Divestiture Of Stake In Financiera Independencia
November 14, 2008
Mexican microfinance lender Financiera Independencia announced that U.K.-based HSBC Overseas Holdings has completed the divestiture of its ownership stake in Independencia. Independencia’s controlling shareholders have informed the company that they have acquired the remaining 46,319,132 shares that HSBC still owned after the amortization process took place. After completing the transaction, the controlling shareholders of Independencia have increased their stake to 82.31%.
Senators Seek Solutions To Reductions In Workers’ Pension Savings Accounts
November 14, 2008
The Senate’s Political Coordination Board has decided to begin a parliamentary debate aimed at finding solutions to the drop in Mexico’s workers’ pension savings accounts. Legislators stated that the said accounts have registered losses amounting to MXN 64 billion during the last 36 months. Pension regulator Consar said that the losses are due to the circumstances but do not really affect workers who will use the funds in the long term and not immediately.
Bansefi To Sell National Lottery Bills
November 13, 2008
Mexico’s savings bank Bansefi has signed a collaboration agreement with the National Lottery, by means of which the latter will be able to sell its products and services through the bank. Bansefi and the National Lottery are uniting efforts to make the most of both institutions’ capacity to increase the coverage of the services they provide throughout the country.
back to top
Business & Industry
Anheuser Shareholders, U.S. Antitrust Authorities Approve Takeover By Inbev
November 12, 2008
U.S. brewer Anheuser-Busch’s (AB) shareholders overwhelmingly approved the proposed USD 52 billion takeover by Belgian-Brazilian peer InBev. More than two-thirds of the Budweiser brewer’s shareholders voted, with 96% voting in favor of the deal. In addition, InBev gained U.S. antitrust approval for the deal after agreeing to sell its Labatt USA subsidiary. Under a deal reached with the U.S. Justice Department, InBev will sell the Labatt USA business and associated licenses in order to buy the maker of Budweiser and other beers. Meanwhile, Mexican brewer Grupo Modelo (GModelo), in which AB holds a 50.2% stake, has not made any announcement regarding the deal yet, which it said it opposed earlier this year.
Campari Acquires Destiladora San Nicolas Tequila Maker
November 11, 2008
Italian alcoholic beverages producer Campari announced it has acquired Mexican tequila maker Destiladora San Nicolas for approximately USD 17.5 million. In addition, Campari said it would also obtain Destiladora San Nicolas’ USD 10 million debt. Destiladora San Nicolas has a total sales volume of 50,000 boxes of tequila bottles.
Littelfuse Starts Operations At Its Piedras Negras Facility
November 12, 2008
U.S. circuit protection products maker Littelfuse said it has started operations at its USD 15 million facility at Piedras Negras, in the state of Coahuila. Littelfuse said its new plant will create 480 direct jobs. Littelfuse said earlier this year that it plans to move its semiconductor assembly and test operation from Mexico to Wuxi, China, over two years.
back to top
Automotive
AMIA: Auto Production, Exports Rise In October
November 11, 2008
According to data from the Mexican Automotive Industry Association (AMIA), the country’s automobile production rose 8.1% in October to 214,589 units when compared to the like 2007 period. Meanwhile, Mexico’s car exports in October increased by 15.5% and amounted to 167,497, up from the 144,970 vehicles that were exported in October 2007. Mexico’s car exports to the U.S. rose 8% to 116,944 units. However, Mexico’s domestic car sales fell 14.3% to 83,306 during October, down from the 97,180 units that were sold during the same month last year.
INA, SE Analyze Plan To Substitute Autoparts Imports
November 13, 2008
Mexico’s National Autoparts Industry (INA) and the Economy Ministry (SE) said that they are analyzing a plan to allow the substitution of the country’s autoparts imports by as much as USD 18 billion in order to address the sector’s production decrease. INA said that Mexico’s autoparts manufacturers’ production value is expected to fall between 5% and 7% this year.
Leoni Invests USD 200 Million In Durango Plant
November 11, 2008
Global provider of wiring system solutions and cable assemblies for the automobile industry Leoni has opened a new USD 200 million plant in the state of Durango. The facility is expected to create approximately 1,000 jobs during a first stage, but the firm estimates that it will have hired over 2,000 workers by 2010. The plant will provide its products to several car makers and features General Motors as one of its main clients.
back to top
Construction & Infrastructure
IADB To Lend Mexico USD 1.2 Billion For Infrastructure, Public Works
November 13, 2008
The Inter-American Development Bank (IADB) will lend Mexico up to USD 1.2 billion to help state and municipal governments finance investments in infrastructure and public services. IADB said it has approved the first loan for USD 350 million under the 10-year credit line, which will be executed by Mexico’s infrastructure development bank Banobras. The 20-year loan has a 5-year grace period and an interest rate based on the London Interbank Offered Rate. Banobras will use the funding to supply medium- and long-term loans and credit guarantees as well as technical assistance to state and municipal governments and to public services providers.
Cemex Hires Five Banks To Refinance Debt
November 14, 2008
Mexican cement maker Cemex said it has hired five banks to refinance part of its debt, which amounts to USD 6.6 billion and needs to be paid by the end of 2009. Cemex said it will negotiate new bilateral loans to replace existing facilities and amend certain syndicated loans. It warned the operations might, in some cases, require majority consent from its creditors. The banks are Banco Bilbao Vizcaya Argentaria (BBVA), Citigroup, HSBC Holdings, Royal Bank of Scotland Group, and Banco Santander.
back to top
Retail
Retailers’ October Same-Store Sales Drop 4.2%
November 13, 2008
Mexican Retailers Association (ANTAD) said same-store sales at member establishments fell 4.2% in real terms in October from the year-ago month as consumer confidence slipped. ANTAD, which represents major supermarket operators, department stores and other retailers, said that total sales grew 3% from October 2007 to MXN 59.4 billion with 11.4% more floor space than a year ago. Total sales for the first 10 months of the year were MXN 589.5 billion, up 6.8% from the like 2007 period.
Comercial Mexicana’s Creditors File Lawsuits Against It
Novemer 12, 2008
Creditors of Mexican retailer Comercial Mexicana (Comerci), which include Banamex, Santander, Goldman Sachs, Barclays, Merrill Lynch and JP Morgan, have filed lawsuits against the company at a U.S. court for payment suspension. Comerci said it has been notified about the lawsuits and said it expects new announcements in the short term. Comerci’s debt amounts to USD 2 billion and the company expects to sell some of its assets next year to meet its financial obligations.
back to top
Transportation
Southwest Airlines Enters Agreement With Volaris
November 12, 2008
U.S. low-cost airline Southwest Airlines has entered an agreement with Mexican peer Volaris to provide service to Mexico by 2010. Under the agreement, each carrier will be able to take customers and baggage to their final destination across the border. Customers will also be able to use Southwest’s Web site to book existing Volaris flights starting in 2009, before the codeshare agreement goes into effect.
Irizar Mexico, Grupo Estrella Blanca Sign Bus Provision Agreement
November 12, 2008
The Mexican subsidiary of Spanish bus maker Irizar and Mexican bus transportation company Grupo Estrella Blanca (EB) have signed an agreement under whose terms Irizar Mexico will provide 600 luxury autocars to EB within two years for an undisclosed amount. The buses will be produced at Irizar’s Mexico facility, located in the state of Queretaro.
back to top
Telecommunications & Technology
Legislators Expect To Vote On Opening The Telephone Sector To Foreign Firms
November 11, 2008
According to the president of the Lower House’s Economy Commission, legislators might vote on an initiative to open the country’s fixed telephony sector to foreign firms before the end of Congress’ current period of ordinary sessions. Under the initiative, foreign firms’ participation in Mexico’s fixed telephony sector might be expanded to 100% from the current 49%.
CFC Rules America Movil Could Be Subject To More Regulation
November 12, 2008
The Federal Competition Commission (CFC) has ruled that Mexican mobile telephony provider America Movil could be subject to more regulation to prevent abuse of power over consumers. The CFC said America Movil’s Telcel network wields "substantial power" in Mexico due to its massive market share. Meanwhile, America Movil’s CEO Daniel Hajj said the company does not use abusive practices and that it understands CFC’s reasoning. Hajj added that they will review the decision and reply in due time.
Telmex Rivals Are Cautious On Next Year
November 12, 2008
Rivals of Telmex are taking a cautious view of 2009 after turning in mixed 3Q results. Axtel has virtually put a freeze on subscriber growth because of start-up problems with its new network based on wireless broadband technology WiMax. At the same time, Maxcom lowered its forecast for Capex next year to between USD 65 million and USD 70 million from between USD 120 million and USD 130 million. Axtel and Maxcom have struggled to compete with Telmex, which enjoys vast economies of scale, a strong balance sheet, and up until the end of 2006, a dovish regulatory environment.
Mobile Operators: Mexico’s Wireless Subscribers Reach 75.7 Million
November 14, 2008
According to figures provided by Mexico’s mobile telephony operators, the country’s wireless subscribers rose to 75.7 million at the end of September, up from approximately 64.6 million in the like 2007 period. Telcel, the local unit of Mexican mobile telephony giant America Movil, said in its 3Q earnings report that its subscriber base grew 14.5% year-over-year to about 54.4 million. Telcel’s market share, however, fell to 71.8%, from 73.6% at the end of September 2007 due to competition from Movistar, the local unit of Spain’s Telefonica, who expects to reach more than 23 million wireless subscribers by the end of next year.
Telmex, MVS Enter Strategic Alliance
November 14, 2008
Telmex and Mexican satellite TV provider Multivision (MVS) announced they entered a strategic alliance whereby MVS will provide its services but they will be charged for in Telmex’s telephone bills. In early October, both firms had announced that they were working along with U.S. digital media equipment company EchoStar on the final details on the deal that would allow MVS to offer cheaper services by charging for them through Telmex’s bills.
back to top
Media & Entertainment
Grupo Mexico’s CEO Acquires Cinemex
November 11, 2008
German Larrea, CEO of Mexican miner Grupo Mexico (GMex), has purchased movie theatres operator Cinemex through – his Entretenimiento GM subsidiary – from AMC Entertainment, jointly owned by Apollo Advisors and a subsidiary of JP Morgan Chase, for an approximate amount of USD 237 million.
back to top
Hospitality & Tourism
Tourism Private Investment Reaches USD 4.3 Billion Record High
November 13, 2008
According to Mexico’s Tourism Ministry (SECTUR), private investment in the country’s tourism sector amounted to a USD 4.3 billion record high between January and September. The figure is 29.4% higher than the like 2007 period’s results. SECTUR said that the mentioned amount is equivalent to 30% of the country’s expected private investment in the tourism sector during the current administration, which was set at USD 20 billion.
back to top
Economy
Lower House Approves 13.1% Increase In 2009 Government Spending
November 13, 2008
Finance and Public Credit Minister Agustin Carstens praised legislators for passing a 2009 budget that will increase government spending 13.1% in real terms, and called the move ”a key piece in the anti-cyclical strategy”. The Lower House of Congress overwhelmingly passed the MXN 3 trillion spending portion of the 2009 budget in general terms, although legislators were still discussing some fine points. It is an increase, including about MXN 44.5 billion in infrastructure spending.
Finance Minister Says Oil Hedges Protect 2009 Government Budget
November 13, 2008
Finance and Public Credit Minister Agustin Carstens said the Ministry spent USD 1.5 billion on crude hedges earlier this year to protect the federal government’s revenue in 2009 from the recent slide in oil prices. The government started buying the hedges in July, when oil prices peaked. The hedges are currently worth USD 9.55 billion. Mexico said it has hedged all of its oil exports for next year against a price of oil below USD 70 a barrel.
Calderon At G-20 Summit: Market Is Not Enough To Regulate Economy
November 10, 2008
President Calderon said during his attendance at the Group of 20 (G-20) major world economies summit in Washington, that world leaders should come up with a coordinated, global rescue plan to try to head off a global recession. Meanwhile, Finance and Public Credit Minister Agustin Carstens said leaders of the world’s emerging economies need a bigger say in guiding the global financial system.
Peso Hit By Economic Fear, Banxico Sells USD 85 Million In Foreign Reserves
November 11, 2008
Mexico’s peso (MXN) fell sharply and stocks sank on worries that a deepening downturn in the U.S. could push Mexico into recession. The peso lost 1.84% to MXN 13.06 per dollar (USD) as investors shunned riskier assets, broadly lifting the greenback against currencies worldwide. The central bank (Banxico) auctioned USD 85 million in currency markets to support the peso. which fell a day after Fitch Ratings lowered the country’s sovereign credit rating outlook to "negative" from "stable.” Meanwhile, the benchmark IPC stock index fell 1.79% to 19,662 points.
Mexican Peso, Stocks Jump After China Stimulus Plan
November 12, 2008
Mexico’s peso (MXN) firmed after China announced a plan to spend nearly USD 600 billion to shore up demand in the world’s fourth-largest economy. The peso firmed 0.67% to MXN 12.675 per dollar. World stock and commodity markets surged following China’s announcement of its plan, which was welcomed by global investors as the latest action by a government to stave off recession. Meanwhile, stocks jumped after the announcement; the benchmark IPC stock index rose 2.49% to 20,358 points in first trades.
ISR, IETU, VAT Contributions Fall 5.3%
November 12, 2008
According to the Finance and Public Credit Ministry (SHCP), the government’s earnings from the main taxes, including the value added tax (VAT), the flat corporate tax (IETU) and the ISR tax fell 5.3% during the first nine months of the year and were MXN 42.1 billion lower than estimated.
UNAM: Minimum Wage’s Purchasing Power Down 24.5%
November 12, 2008
According to a report by the National Autonomous University of Mexico’s (UNAM) School of Economy, the country’s minimum wage purchasing power fell 24.5% in almost two years, although wages rose 8.05% to MXN 52.59 in August from MXN 48.67 in December 2006. In addition, the entity said that the recommended alimentary basket’s (CAR) price has increased by 43.13% during the said period.
back to top
Border & Migration
U.S. Unveils USD 66 Million Mexican Consulate In Ciudad Juarez
November 10, 2008
U.S. State Department officials inaugurated a massive new consulate in Ciudad Juarez, in the state of Chihuahua. The USD 66 million consulate building, under construction since early 2006, has opened to the public. Consulate official Laura Dogu said the building has doubled capacity with more than 100 service windows and has made security improvements. The Juarez consulate is the world’s busiest, handling the most immigrant visas of any such facility. U.S. Ambassador to Mexico Tony Garza took part in the opening of the Consulate and praised cooperation between governments of both nations and said both must remain courageous in the fight against drug cartels.
CDPME To Submit Migratory Reform Proposal To Barack Obama
November 10, 2008
The Coalition for the Political Rights of Mexicans Abroad (CDPME) announced that it will submit an integral migratory reform proposal to U.S. President-Elect Barack Obama within approximately 30 days. Officials from the coalition said that the proposal will seek to institutionalize migration in the U.S., rather than only obtaining regularization for some migrants.
back to top
Politics
President Calderon Names New Interior Minister
November 10, 2008
President Calderon announced his appointment of lawyer and former legislator Fernando Francisco Gomez Mont as Mexico’s new interior minister to succeed Juan Camilo Mouriño, who died in a recent plane crash. Gomez Mont, a member of Calderon’s right-wing National Action Party (PAN), was chairman of the justice committee in the Lower House of Congress in 1991 and represented his party before the Federal Electoral Institute; he will now head the Interior Ministry (SEGOB).
PRI Consolidates Position As Country’s Widest Spread Political Force
November 10, 2008
The Institutional Revolutionary Party (PRI) obtained a new victory and won in the majority of municipalities of the state of Hidalgo, securing its sixth straight electoral triumph during the year. The party’s leader Beatriz Paredes said that the new success consolidates PRI’s position as the country’s widest spread political force. PRI won the majority of municipal elections that were held this year in the states of Quintana Roo, Nayarit, Guerrero, Coahuila, and twice in Hidalgo.
Court Upholds Moderate Leftist Ortega’s Victory As PRD Leader
November 12, 2008
The Federal Electoral Court ruled that moderate leftist Jesus Ortega won the election for the leadership of the Democratic Revolution Party (PRD) that was held in March. Ortega and rival Alejandro Encinas had accused each other’s supporters of vote-buying, intimidation and ballot-stuffing in elections. A long dispute followed after the election as no candidate agreed to rulings by corresponding authorities naming the victorious candidate. Ortega proposed an important office within the party to Encinas who did not accept. The entire process became an embarrassment to the party.
back to top
Justice, Safety & Crime
President Calderon: Mexico Makes Important Achievements In Combating Drugs
November 12, 2008
President Calderon said Mexico has made "important achievements" in fighting drugs under the current administration. Calderon stated that some 43 tons of cocaine have been seized in the littorals of the country since his government took office in December 2006. In addition, Calderon vowed to continue his efforts in fighting organized crime, mostly the powerful drug cartels, the kidnapping rings and corruption, which are considered the country’s most serious domestic security issues.
Colombian President Says Mexico Will Win Drug War
November 10, 2008
Colombian President Alvaro Uribe predicted that his Mexican counterpart Felipe Calderon’s efforts to combat the increasingly violent drug war that is wracking Mexico would be successful. Uribe did not say how Mexico would win its drug war, but he and Calderon discussed security and energy issues, as well as the significance of growing Asian markets, and U.S. policy under a newly elected President Barack Obama. Calderon and Uribe met as the latter attended a business conference in Monterrey, in the state of Nuevo Leon.
Baja California Governor Asks U.S. To Cease Arms Flow Into Mexico
November 13, 2008
Jose Guadalupe Osuna Millan, governor of the state of Baja California, said that U.S. officials should increase their efforts to prevent weapons from being exported into Mexico. Osuna Millan told hundreds of political and business officials from across the state that the U.S. should take a more aggressive approach to preventing southbound arms trafficking across the border. The gathering of regional leaders, featuring the five mayors in Baja California, included the signing of the Accord for Security, Justice, and Social Harmony in Baja California.
Local Daily: Executions Surpass 4,000 So Far This Year
November 11, 2008
According to figures from a local daily, the amount of crime-related executions in the country has surpassed 4,000 cases so far this year. The total amount of execution-style murders in all of 2007 was 2,621, or equal to 65% of the current homicide toll. Figures from the newspaper indicate that executions during President Calderon’s administration, which started in 2006, amount to approximately 6,624.
Gunmen Abduct, Release 27 Farm Workers In Sinaloa
November 15, 2008
Gunmen abducted 27 farm workers in the La Guajira farm near Culiacan, the capital of the state of Sinaloa. Kidnappers arrived at the site in 15 luxury SUVs and roused more than 100 workers from their sleep, selecting 27 of them to be taken hostage. The captives were all men, ranging in age from 16 to 61. However, authorities said that 21 have been released. According to the released peasants, they were not mistreated in any way. Authorities have not said who the kidnappers were or why they kidnapped the workers. Little information is known since the farm workers have said they are afraid to give any details and have refused to talk to the press.
Argentina Denies Mexican Sinaloa Cartel Has A Presence In That Country
November 14, 2008
The Argentine government categorically denied that Mexico’s Sinaloa drug cartel is operating in their country after reports said that operatives from the Mexican criminal organization were arrested there. Authorities indicated that there were only "two individuals with Mexican passports," who were arrested in possession of 753 kilos (1,659 pounds) of cocaine.
State Police Major Killed In Ciudad Juarez
November 16, 2008
Authorities said that unidentified individuals gunned down a State Investigations Agency (AEI) major assigned to Ciudad Juarez, in the state of Chihuahua, which is across the border from El Paso, Texas. Major Jose Manuel Sanguines, the regional coordinator of the AEI’s investigations unit, was shot to death while driving his official vehicle. Sanguines’ killing came a day after municipal police Captain Miguel Carlos Herrera Gonzalez, 45, was shot numerous times and killed. Herrera Gonzalez was in charge of security in the Delicias district of Ciudad Juarez.
Gunmen Kill Crime Reporter
November 14, 2008
According to authorities and news reports, Armando Rodriguez, veteran crime reporter in the border city of Ciudad Juarez, in the state of Chihuahua, was fatally shot as he left his home. Rodriguez worked for the newspaper El Diario. He was in a car with his young daughter when he was shot at least eight times by gunmen who fled and have not been captured. Rodriguez, 40, had written articles on the violence associated with narcotics trafficking.
back to top
Health & Science
Senate Approves Creation Of Mexico’s Space Agency
November 16, 2008
The Senate has unanimously approved the creation of Mexico’s Space Agency (AEXA), which will be a public and decentralized organism in charge of Mexico’s space policy. AEXA will be a part of the Communications and Transport Ministry (SCT) and will allow Mexico to be integrated to the space international community and will bolster scientific activity in the country.
Mexico Reinitiates Production Of Vaccine Against Poliomyelitis
November 14, 2008
According to the Health Ministry (SSA), the country’s production of a vaccine against poliomyelitis will resume and amount to 20 million doses this year, providing the required medical auto sufficiency to treat Mexico’s children. SSA said that Mexico is aiming at producing 100 million doses in the medium term for local use and to be exported to other countries. Production of the vaccine in 2009 is expected to be approximately 40 million doses.
Pharmaceutical Firms, Government Cannot Reach Deal On Medicines’ Prices
November 12, 2008
Mexico’s Medicines’ Prices Negotiation Commission and pharmaceutical companies have been unable to reach a deal on the prices of medicines Mexico needs to purchase for the 2009 period, as the firms say that given the current financial crisis, they are unable to award the discounts they gave between 2006 and 2008. The discounts amounted to 30% and were worth MXN 20 billion. The companies say they cannot award any reduction in current prices and the government says the laboratories’ offers are inadmissible. However, both parties say they continue working on a solution.
back to top
Arts & Culture
Carlos Fuentes Turns 80, Politicians, Intellectuals Pay Him Homage
November 11, 2008
Mexican writer Carlos Fuentes privately celebrated his 80 years, at the height of his intellectual capabilities and as an author who is looked up to in a country torn by violence, a circumstance that pervades his latest novel. There were several events to pay homage to the writer, which featured the presence of President Calderon, former Chilean President Ricardo Lagos, former Spanish Prime Minister Felipe Gonzalez, Nobel literature laureates Nadine Gordimer and Gabriel Garcia Marquez, and former UNAM chancellor Juan Ramon de la Fuente, among other political and intellectual personalities.
Mexican Actress Maria Elena Marques Dies At 82
November 12, 2008
Maria Elena Marques, the only Mexican woman to win an award for best actress at the biannual Venice film awards for the 1946 movie entitled La Perla, has died of a heart attack at 82. Marques, who was born December 14, 1925, died with her children Marisela and Miguel Torruco Marques at her side. She made her film debut in 1942 in Dos corazones y un tango, directed by Mario del Rio, in which she starred with Spanish actor Florencio Castello. She starred with some of Mexico’s cinema icons, including Mario "Cantinflas" Moreno and Maria Felix.
Distinguished Mexican Journalist Dies
November 13, 2008
Distinguished Spanish-born journalist Paco Ignacio Taibo I died in his adopted homeland of Mexico at 84. The reporter and writer’s wake was held all day long at his home in Mexico City’s Condesa neighborhood. Taibo was exiled from Francoist Spain in 1950 for his socialist activism. "El Jefe" (the boss), as everyone called him, including his sons Benito and Paco Ignacio II, in 2006 received the Great Cross of the Order of Civil Merit presented by the Spanish government. In addition, Taibo received a number of important honors, including one for his contribution to cultural journalism at the 2004 Guadalajara International Book Fair and Mexico’s National Journalism Prize last May.
back to top
Other
Mexico City Men 70 And Older To Be Given Free Viagra
November 14, 2008
In a health plan launched by Mexico City’s (DF) government, more than 100,000 elderly men in DF – where 70% of men above 70 years of age suffer erectile dysfunction – can get free treatment to stimulate their sex lives. Of the 430,000 senior citizens (men and women) cared for by institutes of health and social services in DF, 112,000 could benefit from this program. DF’s Health Ministry said that beneficiaries should first have a medical exam and if they are found to need treatment they will be given a maximum of four "blue pills" within a determined period of time.
back to top |
