|
Energy
SHCP: 2010 Oil Output At 2.5 Million B/D; Shortfall Contracts Exports, Spending
September 9, 2009
The Finance and Public Credit Ministry (SHCP) said while presenting President Calderon's 2010 federal budget
proposal to Congress that it sees crude oil production slipping to 2.5 million barrels per day (b/d) next year. SHCP
said the economic package was based on an average price for Mexican crude next year of USD 53.9 per barrel.
Meanwhile, the country's overall oil output shortfall, led by a plunge in former largest offshore field Cantarell's
production, is shrinking oil exports and is costing Mexico roughly USD 14 billion a year, compelling the government to
cut spending this year and propose a growing budget deficit for next year.
President Calderon Appoints New Head For Pemex
September 7, 2009
President Calderon appointed Jose Suarez-Coppel, a University of Chicago-trained economist and finance expert as
head of state-run oil major Petroleos Mexicanos (Pemex). Calderon thus replaces Jesus Reyes Heroles, a former
Energy Minister and Ambassador to Washington, who had run Pemex for the past three years.
PAN: Mexico Could Cut Taxes On High-Cost Oil Projects
September 9, 2009
According to legislators from the ruling National Action Party (PAN), Mexico's 2010 budget plan looks to cut taxes on
high-cost oil projects on land and in deep areas of the Gulf of Mexico in an effort to increase production. Details of the
budget plan released call for a drop in oil royalty taxes to between 15% and 20% for barrels produced at the
geologically complex Chicontepec basin and in deep waters. The lower house and the Senate must approve the tax
reforms before the government can implement them. The tax rates on these projects will continue to be adjusted in
coming years to take into account exploration and production costs.
Pemex Awards USD 464 Million Oil Exploration Contract To CGG Veritas
September 7, 2009
Pemex announced that it awarded a USD 464 million, five-year contract to French seismic engineering company
CGG Veritas (CGV) to search for oil in underexplored areas of the Gulf of Mexico. The contract involves taking over
75,000 square kilometers of three-dimensional seismic imaging to identify potential drilling sites in Mexico's deep
waters, where Pemex is only beginning to explore for oil.
back to top
Mining
Vedanta Launches New Bid For Bankrupt Asarco
September 11, 2009
London-based metals and mining major Vedanta Resources PLC announced that it renewed a bid to acquire
bankrupt miner Asarco LLC through its Sterlite Industries unit, raising its offer to USD 2.56 billion after a U.S. judge at
the Corpus Christi Federal Bankruptcy Court had recommended that Vedanta should not get the company and that
Asarco's assets should go to Mexican parent Grupo Mexico (GMex). GMex, which was locked in a bidding war for
Asarco with Vedanta, has offered about USD 2.47 billion to repay Asarco creditors and gain control of the Tucson,
Arizona-based copper mining firm.
ArcelorMittal: Strike At Lazaro Cardenas Mine Ends
September 8, 2009
Global steelmaker ArcelorMittal announced the end of a month-old strike over wages at its Lazaro Cardenas steel
plant, in the state of Michoacan. Workers will return to work at the plant later after walking out on August 8, halting
production at the complex. The firm and workers at the mine agreed on an 8% wage rise. The company used stocks
over the past month to meet client orders. ArcelorMittal has the capacity to produce 6.7 million tons of steel in Mexico,
with approximately 80% of that amount produced at the Lazaro Cardenas plant.
back to top
Banking, Insurance & Finance
CNBV: Mexico's Largest Banks' Balance Sheets Healthy In July
September 10, 2009
According to the National Banking and Securities Commission (CNBV), Mexico's largest banks kept their balance
sheets on solid ground in July despite loan defaults and a deep recession that weighed on their businesses. CNBV
said the banks all maintained capital adequacy ratios in excess of 10%, a measure of capital that shows how
prepared a bank is to weather losses. When a bank's ratio dips below 10%, CNBV requires it to come up with a plan
to raise its capitalization. Leading Mexican bank BBVA Bancomer, a unit of Spain's BBVA, had a capital adequacy
ratio of 15.11% in July, up from 14.95% in June.
Banxico To Publish Information On Credit Card Interest Rates
September 11, 2009
The central bank (Banxico) announced that it will publish information on the effective interest rates of the country's
credit cards' to boost competition in the sector and in a bid to benefit credit card holders. Banxico said it will make the
information public through commercial banks and other financial intermediaries and expects the move will introduce
further competition by compelling credit card suppliers to lower their interest rates. Banxico's information indicated
that BanCoppel's credit card effective interest rate is the country's highest at the moment at 69.2%.
BMV May Sell Stake To CME Group
September 7, 2009
Bolsa Mexicana de Valores (BMV), which operates Mexico's stock exchange, said it was in preliminary talks to sell a
minority stake to CME Group, the world's largest derivatives exchange operator. BMV said the talks also revolved
around commercial agreements with CME Group, the parent of the Chicago Board of Trade. BMV added, however,
that no preliminary or definitive contracts have been signed and that it is still not certain that agreements will be
reached.
Inbursa Eyes Opening 400 Branches In 2010; To Enter Partnerships
September 7, 2009
Mexican bank Grupo Financiero Inbursa announced that it will seek to open 400 branches by the end of 2010 and
noted that they are currently building 300 offices across Mexico, in addition to the current 90 that are already
operating. In addition, Inbursa said it will enter into new partnerships or strengthen the existing ones with
correspondents, such as retailer Grupo Sanborn's or Telmex. Inbursa, Sanborn's and Telmex are owned by billionaire
Carlos Slim and his family.
back to top
Business & Industry
INEGI: July Industrial Production Falls 6.5% On Year
September 11, 2009
According to the National Statistics Institute (INEGI), Mexico's industrial output contracted much less than expected in
July from the year-ago month, and rose sharply from June in seasonally adjusted terms. INEGI said that industrial
production fell 6.5% from July 2008, a 12th straight month of year-on-year declines. But output rose 2.84% from June
in seasonally adjusted terms, indicating that the Mexican economy has probably seen the worst of its current
recession. Manufacturing fell 9.9% from July 2008 but rebounded 4.51% from June in seasonally adjusted terms.
Construction fell 5.3% in the year on sluggish housing and commercial building, and oil and gas output slid 4.3%.
Mining production surged 28.6%, while utilities—electricity, gas and water—rose 2% after posting a small gain in
June.
Calderon To Submit Initiative To Boost Competition
September 8, 2009
President Calderon announced that he will seek to boost competition in Mexico by sending an initiative to Congress
that would enhance the country's Federal Competition Commission's (CFC's) powers and attributions. The most
expected and important change would be allowing the CFC to sanction anticompetitive practices in more severe
ways, such as imprisoning executives who colluded in price fixing activities, among others.
Vitro Proposal Seeks Reduction On USD 1.22 Billion Bond Debt
September 10, 2009
Mexican glassmaker Vitro said that its debt restructuring proposal submitted last month to holders of USD 1.22 billion
in bonds called for a cut of more than 50%. Vitro defaulted on three series of bonds early this year after suffering
heavy losses on natural gas derivatives during the 2008 financial crisis. The default involved USD 300 million in 2012
notes, USD 700 million in 2017 notes, and USD 216 million in 2013 notes. Vitro said its proposal submitted in early
August to bondholders offered to replace the bonds with two issuances—one for USD 485 million in eight-year bonds
and a subordinated issuance for USD 75 million in nine-year bonds. The eight-year bonds would pay interest in cash
rising from 5% to 7% over the life of the bonds, and the subordinated bonds would pay 7% in cash or in kind. The
company said USD 300 million in other debt would be unaffected by the proposal.
back to top
Automotive
AMIA: August Auto Production, Exports, Domestic Sales Down On Year
September 8, 2009
According to the Mexican Auto Industry Association (AMIA), Mexican auto production and sales continued to fall
sharply in August from the year-ago month, although an improvement in U.S. demand limited the decline in exports
and output grew 23.5% when compared to figures from July. AMIA said production fell 34% from August 2008 to
134,501 units, while exports were down 22% to 111,263 units, and domestic sales fell 32% to 58,926 units. AMIA said
the drop in exports was smaller than in previous months, helped by the U.S. "Cash for Clunkers" program driving
demand for new cars.
back to top
Housing & Mortgaging
Infonavit To Raise Lending In 2010; Enters Partnership With Banamex
September 10, 2009
Mexican government-run housing fund Infonavit announced that it aims to increase the number of mortgage loans it
makes in 2010 from this year's estimated half million. Infonavit said that the 2010 goal for loans will be set in
December. In addition, Infonavit and Citigroup's Mexican unit Banamex said they are extending the "Infonavit Total"
cofinancing program to include loans to higher earners, with credits of up to MXN 1.2 million and no limit on the value
of the home. Infonavit and Banamex said they expect around 60,000 home loans to be made under the program in
the coming months, for up to MXN 30 billion.
back to top
Construction & Infrastructure
Cemex Starts Global Equity Offering To Pay Debt
September 8, 2009
Mexican cement and building materials maker Cemex announced that it started a global equity offering as it seeks to
raise capital to pay down its heavy debt load. Cemex said it is offering USD 1.8 billion in 1.2 billion CPO shares, or
their equivalent American Depositary Shares (ADRs), and up to 180 million additional CPOs or equivalent ADSs to
cover overallotments. Cemex said it expects 900 million of the CPOs or equivalent ADSs to be offered in the U.S. and
other foreign markets, and 300 million in Mexico. Cemex completed a debt rescheduling agreement with bank and
private placement noteholders last month that extends payments on USD 15 billion through February 2014. The
agreement calls for Cemex to raise at least USD 1 billion in equity by next June to avoid higher costs on the
refinanced debt.
Conagua Issues Tender For 25-Year, Wastewater Treatment Contract
September 10, 2009
State water commission Conagua announced that it will issue a tender for wastewater treatment services for the next
25 years in Mexico City. The contract includes the removal and final disposal of solid waste material generated by the
plant and power cogeneration under a multiannual mode at a fixed price with public investment and recoverable
private participation. Rules and registration for the tender are due by the end of the month.
back to top
Retail
Wal-Mart De Mexico Raises 2009 Store-Opening Plan To 270
September 9, 2009
Wal-Mart de Mexico (Walmex), the Mexican subsidiary of U.S. retailer Wal-Mart, announced plans to open 270 stores
this year, 18 more than it initially planned as it prepares to benefit when the economy recovers. Walmex said the
growth plan calls for it to speed up its store openings, with 177 in the last four months of the year. That number will be
the highest in the firm's history for such a short period. Walmex expects that the economy will remain difficult this year
and next, but has a positive medium- and long-term outlook.
Comercial Mexicana To Start New Round Of Debt Talks
September 7, 2009
Mexican debt-ridden retailer Comercial Mexicana (Comerci) announced that it will meet with representatives of a
group holding around USD 200 million in defaulted bonds as it starts a new round of negotiations to restructure its
debt pile. Comerci defaulted in October after derivatives bets soured. It has been tangled in tough negotiations with
creditors seeking a way to pay back its debts without selling key assets or giving up ownership. Comerci has offered
to pay all creditors a total of USD 1.535 billion, in a mix of cash from ongoing operations, notes guaranteed with
nonkey assets and convertible bonds. But creditors claim the retailer owes them more than USD 2 billion.
back to top
Telecommunications & Technology
COFETEL: Telecommunications Activity Up 11% In 2Q
September 7, 2009
According to the Federal Telecommunications Commission (COFETEL), activity in Mexico's telecommunications
industry expanded 11% in the second quarter of 2009 but at its slowest pace in seven years, although continuing to
race ahead of the overall economy. COFETEL said its sector index rose 11% from 2Q 2008, amid a sharp slowdown
in mobile growth and a drop in domestic and international long-distance call traffic. The sector performed better than
GDP, which fell 10.3% year on year in the quarter. COFETEL added that the country had 20.5 million phone lines in
operation at the end of June, up 2.4% from a year earlier. There were 19.1 lines per 100 inhabitants.
Telmex Says Investment Down On Lack Of Coordination, Legal Uncertainty
September 7, 2009
Mexican fixed telephony provider Telmex said that it has lowered its investments in infrastructure for
telecommunications and third-generation (3G) services due to the lack of a coordinated plan between the government
and the firm and due to legal uncertainty deriving from measures such as the government's Fundamental Technical
Interconnection and Interoperability Plan (Plantefin or PTFII). PTFII requires Telmex to make changes to its current
operations in a move that would damage the firm's interests, but which is a necessary step for the latter to be
awarded an enlarged concession allowing it to provide TV services. Telmex's current investment fell to MXN 8 billion
from MXN 12 billion at the beginning of the year. Meanwhile, President Calderon's 2010 budget proposal considers
changes to the telecommunications sector that will allow further foreign investment and boost competition in a market
where Telmex's share is 80%.
Telmex Announces Steady Tariffs Amid Tax Increases
September 7, 2009
Mexican fixed telephony provider Telmex announced that it will keep its tariffs steady and will continue implementing
its price reduction policy even after President Calderon's recently submitted 2010 budget proposal included a 4% tax
on telecommunications. Telmex has maintained basic fees virtually unchanged since 1991.
back to top
Media & Entertainment
Televisa Sees Flat 3Q Advertising Revenue
September 8, 2009
Mexican broadcaster Televisa said it expects advertising revenue to be flat in 3Q when compared with the like-2008
figure amid the global economic downturn. Televisa's broadcast television revenues, which are made up mostly of ad
sales, amounted to MXN 5.5 billion in the July-September period last year, helped by the summer Olympics.
Executives at the firm said it also expected to post flat revenue for full-year 2009, in line with previous forecasts.
BBVA: President Calderon's 2010 Budget Proposal To Affect Telmex, Televisa
September 8, 2009
According to Spanish-Mexican bank BBVA Bancomer, President Calderon's 2010 federal budget proposal's 4% tax
on sales of telecommunications products and services will affect broadcaster Televisa and fixed telephony provider
Telmex, as well as other competitors in the sector. The bank said the concerned firms will very probably transfer the
extra costs resulting from the tax to their clients, a move that will prompt consumers to cancel some contracts and use
alternative telecommunication services.
Calderon's Budget Proposal Adds Taxes On Cigarettes, Alcohol And Gambling
September 9, 2009
President Calderon's recently issued 2010 federal budget proposal includes special taxes on cigarettes, alcohol,
betting parlors and casinos in a bid to further increase contributions. The Finance and Public Credit Ministry (SHCP)
said that revenue from taxes on beer alone would increase 11.6%, or MXN 2 billion more than the current
contributions.
back to top
Farming & Agriculture
President Calderon Removes SAGARPA Minister
September 9, 2009
President Calderon announced the resignation of Agriculture, Livestock and Rural Development Minister Alberto
Cardenas and appointed his replacement, Francisco Javier Mayorga, who directed the said ministry under former
President Vicente Fox. Other top ranking officials who were removed were Pemex's director Jesus Reyes Heroles
and federal Attorney General Eduardo Medina Mora.
Thailand Says It Might Invest In Yucatan
September 7, 2009
Officials from Thailand's government and Ivonne Ortega, Governor of the Mexican state of Yucatan, met to discuss
and enter into cooperation agreements in farming, agriculture, trade and investment in a bid to improve the state's
economic development. Thai officials said that entrepreneurs from their country have shown interest in investing in
the state, as well as in exchanging technology and reinforcing bilateral trade, mostly in the agriculture sector.
back to top
Hospitality & Tourism
Holiday Inn Plans To Open 48 New Hotels In Mexico
September 7, 2009
U.S. hotel chain Holiday Inn announced plans to open as many as 48 new hotels during the next two or three years in
Mexico, without disclosing information on the approximate required investment. Of the new branches, 16 would be
operated under the Holiday Inn brand and 32 under the Holiday Express brand, adding to the 86 establishments the
company already manages in Mexico.
back to top
Economy
Banxico, SHCP: Economy Emerges From Recession
September 11, 2009
According to officials from the central bank (Banxico), Mexico's economy is pulling out of its deepest recession since
the 1930s but the recovery will be slow. In addition, Deputy Finance and Public Credit Minister Alejandro Werner said
Mexico's economic output in the third quarter will be greater than in the April-June period, marking the end of a yearlong
recession. Experts predict mild growth for the rest of 2009, but few economic indicators are available so far to
signal whether a recovery has begun.
President Calderon Submits 2010 Federal Budget, Tax Proposals
September 9, 2009
President Calderon submitted his 2010 federal budget proposal to Congress and added suggestions to change tax
laws in a bid to increase the nation's funds. Finance and Public Credit Minister Agustin Carstens delivered the
President's proposal to lawmakers in the lower house of Congress and said that according to the document, spending
next year would be MXN 218 billion lower than the roughly MXN 3 trillion approved for this year. He said the 2010
proposal calls for a deficit of MXN 60 billion, equivalent to approximately 0.5% of GDP. The aim is to lower the deficit
to MXN 40 billion in 2011, and balance the budget in 2012. The austere budget proposal, which Carstens handed in
to an opposition-dominated Congress, comes as Mexico suffers falling tax collections from the country's deepest
recession in decades, and a drop in oil production and prices. Calderon's proposal also includes a series of tax
measures to confront falling revenue. It would raise the maximum income tax rate to 30% from 28%, lowering it again
after several years. It calls for new or higher taxes on beer, liquor, cigarettes, and gambling activities, a 4% tax on
telecommunications services, and also a 2% tax "against poverty" on consumer goods. It will also raise to 3% from
2% the tax on cash deposits in banks, while lowering the threshold for applying the tax to MXN 15,000 a month from
MXN 25,000. Calderon also proposed to slash spending on government bureaucracy. Meanwhile, several industrial
groups, such as the CANACAR, CONCAMIN, CMHN and COPARMEX have indicated that they do not support
Calderon's proposal for some new taxes. Opposition lawmakers have already started pointing out that a number of
suggestions on taxes are unlikely to be passed and surveys show that some 92.6% of Mexicans disapprove the new
proposals.
SHCP Cuts 2009 GDP Forecast; Economy To Contract 6.8%
September 8, 2009
The Finance and Public Credit Ministry (SHCP) said it expects gross domestic product (GDP) this year to contract by
6.8% from an earlier forecast for a 5.5% reduction, due mainly to a sharp drop in output in the first half of the year.
GDP in the first six months of this year plunged 9.2% as the impact of weak demand for exports rippled through the
economy, and an outbreak of influenza crippled certain sectors for weeks. SHCP said it expects GDP next year to
expand 3%.
back to top
Border & Migration
Texas Governor: Ranger Teams To Go To Texas-Mexico Border
September 11, 2009
Texas Governor Rick Perry announced that special teams of Texas Rangers will be deployed to the Texas-Mexico
border to deal with increasing violence because the federal government has failed to address growing problems
there. Perry added that the forces, dubbed "Ranger recon" teams, are the latest effort "to fill the gap that's been left
by the federal government's ongoing failure to adequately secure our international border with Mexico." In addition,
Perry earlier this year had asked U.S. Homeland Security Secretary Janet Napolitano for 1,000 National Guard troops
and renewed his call last month in a letter to President Barack Obama. The request is bogged down over who will pay
for the troops and how they will be deployed.
Migrants Demand That Obama Live Up To Campaign Promises; Ask For Reform
September 7, 2009
Approximately 1,500 immigrants demonstrated in the streets of Chicago to demand that President Obama live up to
campaign promises and boost an integral immigration reform during the first year of his administration. Demonstrators
were mostly Mexicans and were led by Anglican pastor Jose Landaverde. During the event, demonstrators carried
three symbolic coffins representing immigrants' deaths at detention centers, along the border and in the Arizona
desert.
SRE Expects 15,000 Agricultural Workers To Migrate To Canada
September 7, 2009
The Foreign Affairs Ministry (SRE) said it expects 15,000 Mexican agricultural workers to migrate to Canada this year
despite a recent visa requirement set up by that country for Mexicans wishing to enter its territory. SRE said that
according to its Temporary Agriculture Workers Report, migration from that sector's laborers will continue to increase
and added that some 13,470 workers have already benefited from Mexico's international labor agreements.
back to top
Politics
President Calderon Proposes Elimination Of Three Ministries
September 9, 2009
President Calderon proposed eliminating three government ministries as part of a federal austerity plan that will help
save money to better address the country's economic woes. Under Calderon's plan, the Tourism Ministry (SECTUR)
would be rolled into the Ministry of Economy (SE), the Public Function Ministry (SFP) would be reduced to a
comptroller's office and the Agrarian Reform Ministry's (SRA's) duties would be split between the Agriculture Ministry
(SAGARPA) and the Labor and Social Development Ministry (STPS). Calderon said employees' rights would be
respected, but gave no estimate on how many jobs might be cut. Calderon said that dropping the three ministries and
other austerity measures—which need Congress' approval—would save an estimated MXN 80 billion.
UN Secretary General Ban Ki-Moon Makes Official Visit To Mexico
September 10, 2009
United Nations (UN) Secretary General Ban Ki-Moon made a two-day official visit to Mexico to take part in the
organization's Public Information Department and NGO's 62nd Annual Conference. Ban Ki-Moon also met with
President Calderon to discuss issues from the global agenda, including disarmament and the nonproliferation of
weapons of mass destruction. In addition, Ban Ki-Moon congratulated President Calderon on his administration's
response to the A/H1N1 influenza outbreak last spring and on Mexico's international leadership amid the pandemic.
President Calderon's TV Program "Dialogo Ciudadano" Put On Air
September 7, 2009
President Calderon's "Dialogo Ciudadano" (Citizen Dialogue) TV program started airing on open TV channels 2 and
13, operated by Mexican broadcasters Televisa and TV Azteca, respectively. The objective of the initiative is to
transmit the answers President Calderon provides directly to citizens' questions on the government's performance
and on the state of the nation. In the first broadcast of the program, Calderon said he foresees overall economic
growth of 5% during his administration.
TEDF Invalidates Sodi's Victory On Excessive Campaign Expenditures
September 8, 2009
Mexico City's Electoral Court (TEDF) invalidated ruling National Action Party's (PAN's) candidate Demetrio Sodi's
victory for Miguel Hidalgo's municipality, as he surpassed the permitted campaign expenditures limits. TEDF said
Sodi's campaign spending exceeded the legal budget and amounted to MXN 1.620 million. Mexico City's Electoral
Institute (IEDF) said that as a consequence it will have to call for new elections, and prohibited the PAN's and Sodi's
participation.
back to top
Justice, Safety & Crime
President Calderon Replaces Federal Attorney General
September 9, 2009
President Calderon announced the removal of his longtime federal Attorney General Eduardo Medina Mora, one of
the key figures in his government's effort to bring Mexico's powerful drug cartels to heel, as the country's drug
violence continues to soar. President Calderon said, without providing further details, that he accepted the resignation
of Medina Mora and appointed Arturo Chavez, a former attorney general of Chihuahua, the country's most dangerous
state, as the new federal AG. The appointment requires the Senate's approval.
U.S. Ambassador To Mexico Carlos Pascual Calls For Joint Fight Against Crime
September 10, 2009
U.S. Ambassador to Mexico Carlos Pascual highlighted during an event at the Instituto Tecnologico de Estudios
Superiores de Monterrey (ITESM) University, the importance of cooperation between the U.S. and Mexico in fighting
drug trafficking. He also complimented the Calderon administration's efforts on fighting organized crime and
mentioned that the increase in violence is positive proof that the strategy is working.
Authorities Arrest Top Drug Cartel Operative
September 8, 2009
Authorities announced the arrest of Jose Rodolfo Escajeda, a.k.a. Rikin, who served as a top operative for the Carrillo
Fuentes drug trafficking ring. Escajeda is believed to be related to over 1,500 murders in Ciudad Juarez, in the state
of Chihuahua. The National Defense Ministry (SEDENA) said the arrest dealt a severe blow to the cartel and noted
that Escajeda was among the U.S. Drug Enforcement Administration's (DEA's) most wanted fugitives.
Bolivian Priest Hijacks Plane, Demands To Speak With President Calderon
September 10, 2009
Federal police officers raided an Aeromexico Boeing 737-800 airplane coming from Cancun, in the state of Quintana
Roo, at Mexico City's airport after it landed there and freed 104 passengers and 7 crew members after an unstable
Bolivian man threatened to blow up the plane unless he could speak to President Calderon to warn him about
impending doom. Officials said Jose Mar Flores Pereira, 44, is a Bolivian citizen who said he had lived in Mexico for
many years and that he was a Christian pastor that had spoken to God. Authorities noted that the man had a criminal
record in Bolivia for armed robbery, and was a recovering alcoholic and drug addict. A court ordered Flores Pereira to
be kept in jail during the investigation into sabotage and kidnapping charges. No one was hurt during the incident.
Authorities Arrest Six Judiciary Police Agents Linked To Kidnapping Rings
September 8, 2009
Federal police officers and personnel from Mexico City's attorney general's office arrested six judiciary police officers
belonging to the "El Niño" kidnapping ring, which is linked to the "Los Tiras" and the "Los Petriciolet" criminal groups,
which are held responsible for the abduction and murder of Fernando Marti and Alejandro Equihua, sons of two
wealthy businessmen. In addition, authorities said they have evidence that the larger Beltran Leyva drug trafficking
gang has infiltrated Mexico City's judiciary police to obtain information on federal police officers to execute them and
to provide protection to the Gulf Cartel to facilitate drug trafficking operations.
Police Arrest Teen, Accomplices In Killing Of Candidate And Family
September 8, 2009
Police arrested a 16-year-old boy and two young men for murdering Jose Francisco Fuente, an Institutional
Revolutionary Party (PRI) candidate for the state of Tabasco's local legislature, his two sons and raping and slaying
his 38-year-old wife. The attorney general of the state said the three told police they planned to burglarize the home
of the politician. Authorities noted that the boy, a neighbor of the family, was the crime's mastermind. Police added
that another teenage suspect was a security guard at the gated community in Villahermosa where Fuente, his wife,
and their 9- and 13-year-old sons lived.
Police Find USD 5 Million Cash In Containers
September 12, 2009
Authorities announced that they found at least USD 5 million hidden in a shipment of ammonium sulfate at the Pacific
coast port of Manzanillo, in the state of Colima. The Navy Ministry (SEMAR) said the bundles of cash were hidden in
large sacks of the granular chemical, most commonly used as a fertilizer. SEMAR added that the shipment was in two
freight containers bound for Colombia. Meanwhile, Colombian authorities also reported that they seized USD 11.3
million in cash hidden in a similar shipment from Mexico. Mexican traffickers buy cocaine in Colombia and often pay
cash for the drug. Colombian and U.S. authorities participated in the investigation.
back to top
Health & Science
Mexico, G7 Discuss Use Of A/H1N1 Vaccines
September 11, 2009
Mexico and the world's seven largest economies (G7—Canada, the United States, Japan, Germany, France, Italy
and Britain) agreed that the first doses of A/H1N1 influenza vaccinations should be given to pregnant women, health
workers and those with risky health conditions. European Union (E.U.) Health Commissioner Androulla Vassiliou said
all countries at the G7 talks "remain vigilant" to stop the spread of the virus as the fall and winter flu season
approaches in the northern hemisphere. Meanwhile, Mexico's Health Ministry (SSA) announced that 19.5 million
vaccines will begin being applied in Mexico in October, a measure expected to last until December.
back to top
Sports
Mexico Beats Honduras 1-0 In CONCACAF World Cup Qualifier
September 10, 2009
Mexico's national soccer team beat Honduran rival 1-0 in the latest game of FIFA's CONCACAF World Cup qualifying
phase with a penalty scored by Cuauhtemoc Blanco. The victory gave Mexico—which had made a stuttering start in
the final round of qualifying—15 points, one behind the United States with two matches remaining in the six-nation
final round. Mexico hosts El Salvador on October 10, and finishes its campaign at Trinidad and Tobago on October
14.
back to top
Environment
Rain Floods Mexico City Homes, Subway
September 7, 2009
Heavy rains flooded hundreds of homes in the Mexico City metropolitan area and turned streets into rivers that
dragged cars in their currents. Officials say the downpour briefly closed Mexico City's airport and swamped four
subway stations that were out of operation.
back to top
Other
La Caixa, Inbursa Create Social Development Foundation
September 11, 2009
Spanish bank La Caixa and Mexican peer Grupo Financiero Inbursa announced the creation of a joint EUR 53 million
foundation to promote and enhance social development in Mexico. The banks' joint effort will seek to promote
employment, boost initiatives in the health and education sectors and broaden cooperation in international
cooperation projects.
Mexico Presents Condolences For Death Of Norman Borlaug
September 12, 2009
The Mexican government presented its condolences for the death of U.S. scientist and Nobel Peace Prize winner
Norman Borlaug, considered as the father of the "Green Revolution," and acknowledged his efforts in working,
teaching and researching to fight hunger in Mexico and the rest of the world. Mr. Borlaug passed away in Texas.
back to top
|
