Archive for the ‘Mexico’ Category

Inicia operaciones el Fondo Mexicano del Petróleo

| September 30th, 2014 | No Comments »
Milenio Diario

Ciudad de México

El secretario de Hacienda, Luis Videgaray anunció que a partir de este martes queda constituido el Fondo Mexicano del Petróleo, que contribuirá a la estabilidad de las finanzas públicas en el largo plazo.

A través de este fondo se busca dar transparencia al manejo de los recursos que deriven de la renta petrolera, además de dar certeza a las futuras generaciones de que en el futuro estará garantizado el desarrollo.

Además de anunciar la creación del Fondo Mexicano del Petróleo, el secretario de Hacienda anunció la creación de tres instrumentos cuyo objetivo es acercar a los pequeños ahorradores a las oportunidades inversión que representa la reforma energética.

Participación de Banxico

La constitución del Fondo Mexicano del Petróleo demanda la participación del Banco de México al ser el fiduciario.

El titular del banco central, Agustín Carstens, dijo que es estimulante ser el fiduciario en cumplimiento de un mandato constitucional.

El banco central, ... Read More

Slim Enriches Himself With Breakup He Resisted: Corporate Mexico

| September 30th, 2014 | No Comments »

By Ben Bain

Carlos Slim, the billionaire who successfully protected a telecommunications monopoly in Mexico for more than two decades, scored one of his biggest financial windfalls by finally giving into the government.

Shares of Slim’s America Movil SAB (AMXL) have soared 24 percent this quarter, the biggest gain in five years, as the company said in July it would sell assets worth about $17.5 billion amid a push by lawmakers and regulators to force competition on the country’s dominant phone companies and broadcasters. The stock’s advance was almost four times the average for emerging-market telecommunications companies, data compiled by Bloomberg show.

Slim, 74, who owns 57 percent of America Movil, has seen his personal wealth jump $6.6 billion this year to $80.3 billion, gaining on the world’s richest man, former Microsoft Corp. co-founder Bill Gates. The son of a Lebanese immigrant, Slim built his fortune by buying the government-run telephone utility ... Read More

Mexico politician Braulio Zaragoza gunned down in Acapulco

| September 29th, 2014 | No Comments »

A regional Mexican political leader, Braulio Zaragoza, has been killed by gunmen at a hotel restaurant in the popular resort of Acapulco.

Mr Zaragoza was in a meeting with other politicians on Sunday morning when three gunmen approached his table and shot him several times in the back.

He was the leader of the conservative opposition National Action Party (PAN) in southern Guerrero state.

Several politicians have been targeted by drug cartels operating in the area.

Police say an investigation is under way but no arrests have yet been made.

Mr Zaragoza, 35, died before paramedics arrived at the El Mirador Hotel.

He was having breakfast with two local politicians before a meeting with regional leaders from his party in Acapulco’s port area.

Last week, a member of the Chamber of Deputies for the governing PRI party, Gabriel Gomez, was kidnapped south of the city of Guadalajara.

His burnt body was found a few days later ... Read More

Mexico Plans Roadshow to Promote Oil Bidding Round

| September 26th, 2014 | No Comments »
Wall Street Journal WSJ-01

By Juan Montes

MEXICO CITY—Mexico’s government is starting meetings this week with local and foreign investors to promote the country’s first public oil tenders after opening its state-run energy sector to competition.

Top officials of the Energy Ministry are expected to meet Thursday with Mexican companies interested in participating at an event organized by the main business group CCE, said Lourdes Melgar, deputy minister for hydrocarbons, in an interview with The Wall Street Journal.

That meeting will be followed between now and the end of October by trips to Houston, New York and London to meet investment bankers, fund managers and senior executives at foreign firms.

An estimated $8.5 billion in annual investment will be needed in the next four years to develop the 169 blocks of reserves that are subject to bids. The roadshow is intended to explain firsthand the details of the ... Read More

Mexico to Take Part in UN Peacekeeping Missions

| September 25th, 2014 | No Comments »
ABC News

Mexican President Enrique Pena Nieto announced Wednesday that his country has decided to participate in U.N. peacekeeping missions again for the first time in decades.

That includes the possibility of sending military personnel, more than 60 years since the last time they were included on such missions.

“With this determination, Mexico, as a responsible actor, takes a historic step in its commitment to the United Nations,” Pena Nieto said.

He said Mexico “supports and values peacekeeping operations, a U.N. instrument that helps countries overcome conflicts and create conditions for lasting peace.”

Pena Nieto’s office said Mexico’s participation would happen gradually and could include both military and civilian personnel, including engineers, health workers, military and political observers and other specialists.

The president’s office said there is no impediment in the constitution and no legislative change will be necessary. Mexican law gives the country’s Senate the power to authorize military deployments beyond the nation’s borders.

According to the ... Read More

More Than a Mexican Problem: How the US Can Adapt Plan Colombia to Mexico

| September 24th, 2014 | No Comments »
Small Wars Journal

By Michael Osborne

Sharing 1,933 miles of border with the United States, Mexico is a foreign policy concern for the US government based on its sheer size and proximity. Mexico is also a crucial trading partner with the US. In 2012, U.S. exports to Mexico accounted for 14 percent of overall U.S. exports and Mexico was the United States’ third largest supplier of goods imports.[1] According to the US Census Bureau, in 2012 Mexican-Americans accounted for nearly 11 percent of the US population. The US-Mexico border has more people cross it annually than any other border in the world. Given so many significant relationships, the strategic implications of Mexico’s security and stability are inherently obvious. Yet the US is inexplicably passive in regard to an enormous problem sitting right on its doorstep: the violence and growing power of Mexican drug cartels.

Since 2006, more than 60,000 people have been killed in ... Read More

How Mexico is reinventing the cocaine business

| September 23rd, 2014 | No Comments »
The Star

By Oakland Ross

If it was intended as a new source of illegal narcotics, then it did not amount to much — or certainly not on its own.

Measuring just 1,250 square metres, the plot of terra firma contained exactly 1,639 coca plants, which might have produced roughly 125 grams of pure cocaine — worth just $300 in the Andean highlands of South America, or about $5,600 at the wholesale rate in Toronto.

None of this matters, however, because the coca plants were not located in Bolivia, Colombia or Peru, which jointly produce about 95 per cent of the world’s cocaine.

Instead, those 1,639 illicit shrubs were discovered this month in a forest clearing near the town of Tuxtla Chico in the state of Chiapas in Mexico — and that, as they say in the narcotics trade, is una gran noticia.

Big news.

“It was just a question of time,” says Daniel Mejia, director of the ... Read More

Mexico Makes Route Tougher for Migrants

| September 22nd, 2014 | No Comments »
The New York Times


TIERRA BLANCA, Mexico — Soon after crossing from Guatemala into Mexico last week, the group of Honduran migrants spotted the police swarming the freight train known as “The Beast” that has dangerously but reliably ferried tens of thousands of people north, clumped atop and hanging off box cars.

So they walked through bushes and along riverbanks to avoid detection. And then they walked some more, 10 hours a day for several days, parched and so starved that they grabbed what fish they could from the streams and fruit from the trees.

“We were hungry so we took an orange from the tree, and the owners of the house behind it started shooting at us,” said José Antonio Alvarado, 22, resting here, 400 miles from the Guatemala-Mexico border, while he waited for a ... Read More

Mexico Has Reformed Its Energy Sector, Now What?

| September 19th, 2014 | No Comments »

By Dwight Dyer

MEXICO CITY – When Mexican President Enrique Peña Nieto signed into law the enabling reforms for his country’s energy sector last month, it marked the fulfillment of a campaign promise two years in the making. Although Mexico’s Congress last year agreed in principle to the reforms, the secondary laws passed last month actually define the parameters for the reshaped energy sector. Their passage is effectively the green light for private investors—both foreign and domestic—to enter the Mexican energy market.

So what happens next? A number of things all at once. The reforms themselves must be implemented and that means laying the ground rules and sign posts for private investment. Two days after Peña Nieto signed the enabling legislation, the National Hydrocarbon Commission announced which oil fields would be assigned to the state-owned oil company Pemex, which will retain the lion’s share of the country’s proven reserves, and by default ... Read More

U.S. Pushes Back Against Warnings That ISIS Plans to Enter From Mexico

| September 18th, 2014 | No Comments »
The New York Times

By Michael S. Schmidt

WASHINGTON — Militants for the Islamic State in Iraq and Syria have traveled to Mexico and are just miles from the United States. They plan to cross over the porous border and will “imminently” launch car bomb attacks. And the threat is so real that federal law enforcement officers have been placed at a heightened state of alert, and an American military base near the border has increased its security.

As the Obama administration and the American public have focused their attention on ISIS in recent weeks, conservative groups and leading Republicans have issued stark warnings like those that ISIS and other extremists from Syria are planning to enter the country illegally from Mexico. But the Homeland Security Department, the F.B.I. and lawmakers who represent areas near the border say there is no truth to the warnings.

“There is no credible intelligence to suggest ... Read More

AT&T Signals Interest in Mexico as Carlos Slim Unloads Assets

| September 17th, 2014 | No Comments »
Wall Street Journal WSJ-01

By Thomas Gryta

A top AT&T Inc. executive said the company is open to acquisitions in Mexico, where the telephone giant controlled by former partner Carlos Slim is planning to sell assets.

América Móvil has said it would sell off parts of its sprawling operations to cut its market share to below 50% from about 70% to avoid a regulatory crackdown, creating a rare opening for an acquirer to get a foothold in the country.

AT&T’s attention is focused on closing a $49 billion deal for satellite broadcasterDirecTV. But Chief Strategy Officer John Stankey said Mexico is a fast-growing market of interest to the company and that AT&T has the management depth and balance sheet to do other deals if opportunities ... Read More

Why are the Sinaloa Cartel the World’s Most Powerful Gangsters?

| September 16th, 2014 | No Comments »
International Business Times

By Lewis Dean

The FBI landed a blow to the world’s most powerful gang last week when it seized $100m (£62m) from the feared Sinaloa drugs cartel.

Nearly 1,000 officers took part in the major Los Angeles takedown in an attempt to destabilise the Mexican racket.

At one location during the operation on Wednesday 10 September, FBI agents seized nearly $3m in cash and searched dozens of businesses in the city’s trendy fashion district alleged to have laundered money for Mexican drug cartels.

Crimes the cartel are accused of – including drugs trafficking, hostage taking, and money laundering in Los Angeles and elsewhere in the US and Mexico – built former gang leader Joaquin “El Chapo” Guzman a $1bn fortune and in 2012 a berth at number 63 in Forbes magazine’s The World’s Most Powerful People list (in 2013, he dropped to 67).

But, despite his vast empire, the net was closing in on the man dubbed Chicago’s Public Enemy ... Read More

Here Comes Mexico’s Energy Revolution

| September 15th, 2014 | No Comments »
The National Interest

By David Goldwyn

Over the past year, the eyes of the energy world have been on Mexico. Energy companies, investors, and other stakeholders have been waiting for the liberalization of Mexico’s energy industry, which has been closed to private investment since 1938. With the landmark passage of Mexican energy reform in August, that wait is finally over. Mexico is now on a path toward energy transformation.

The twenty-one laws signed by President Enrique Peña Nieto on August 11 do more than just turn last year’s constitutional reforms into groundbreaking legislation that will open up new energy frontiers for Mexico and its people. Much has been written about the fact that, for the first time in seventy-six years, private companies will be able to participate in oil and gas exploration and production. The legislative infrastructure of the reforms is robust and should make Mexico a competitive destination for upstream investment. Larger investment flows ... Read More

Honduran city’s violence adding to immigration surge

| September 15th, 2014 | No Comments »
Philly Inquirer Logo

By Michael Matza

SAN PEDRO SULA, Honduras – Shot twice in the face by two men on bicycles as he changed a car tire, Omar Gabaretta, 34, died Sunday and was brought to the morgue in this steamy city, which has the world’s highest homicide rate.

On Monday, his cousin Claudia, 28 and pregnant, went there in a red pickup with a simple, black-painted coffin to claim his body. Distraught and not eager to talk, she said she did not know why her cousin, a machinist, was killed. He was the first in his family to die violently, she said, and he now is part of a familiar story.

Violence, corruption, unemployment, grinding poverty, and a crop-destroying drought are among the factors that fueled this summer’s surge of illegal immigration to the United States by Central Americans. The largest group – including thousands of unaccompanied minors – came from Honduras.

It is not hard ... Read More

US Targets Mexico’s Sinaloa Cartel, Seizing $100 Million in Cash

| September 15th, 2014 | No Comments »
Latin American Herald Tribune

LOS ANGELES — In a major takedown in Los Angeles, nearly 1,000 federal, state, and local law enforcement officers seized approximately $100 million in cash, arrested nine subjects, and searched dozen of businesses in the city’s downtown fashion district alleged to have laundered money for Mexican drug cartels.

The ongoing investigation—three indictments have been unsealed — is specifically aimed at the Sinaloa Cartel and its activities, including narcotics trafficking, hostage taking, and money laundering in Los Angeles and elsewhere in the U.S. and Mexico.

In one case, the cartel used a fashion district business to funnel ransom payments related to a kidnapped U.S. citizen who was held hostage and tortured by cartel members in Mexico.

“The victim, who worked as a distributor for the Sinaloa Cartel, was kidnapped after 100 kilograms of cocaine he was supposed to distribute were seized by U.S. law enforcement,” said Bill Lewis, assistant director in charge of our ... Read More

U.S. Confirms ISIL Planning Infiltration of U.S. Southern Border

| September 10th, 2014 | No Comments »
The Washington Free Beacon


A senior Homeland Security (DHS) official confirmed to Congress on Wednesday that militants associated with the Islamic State of Iraq and the Levant (ISIL or ISIS) are planning to enter the United States via the porous southern border.

Francis Taylor, under secretary for intelligence and analysis at DHS, told senators during a hearing that ISIL supporters are known to be plotting ways to infiltrate the United States through the border.

“There have been Twitter, social media exchanges among ISIL adherents across the globe speaking about that as a possibility,” Taylor told Sen. John McCain (R., Ariz.) in response to a question about “recent reports on Twitter and Facebook of messages that would urge infiltration into the U.S. across our southwestern border.”

“Certainly any infiltration across our border would be a threat,” Taylor said, explaining that border security agents are working to tighten measures that would prevent ... Read More

US, Mexico, CentAm to look at child migration

| September 10th, 2014 | No Comments »
The Miami Herald

The attorney generals from the United States, Mexico, Guatemala, El Salvador and Honduras have agreed to form a high-level group to address the migration of unaccompanied children.

U.S. Justice Department spokesman Brian Fallon says in a statement that Attorney General Eric Holder met with his counterparts in Mexico City on Tuesday.

The attorney generals will form the group with prosecutors from each country, and will work on a strategy to handle the flow of child migrants. The group is to meet in the coming weeks.

Since Oct. 1, the United States has detained more than 66,000 unaccompanied child immigrants, mostly from Honduras, El Salvador and Guatemala. More than 66,000 additional immigrants traveling as families, mostly mothers and young children from Central America, have also been caught.

Click here for original ... Read More

Mexico’s Dubious Reforms

| September 10th, 2014 | No Comments »
The New York Times


MEXICO CITY — Many Mexican politicians are losing sleep lately pondering an enigma: How is it possible that the most important set of governmental reforms in decades has aroused so much enthusiasm abroad and yet so much rejection in Mexico? How is it that, while the groundbreaking reforms were approved by a two-thirds majority of Congress, ordinary Mexicans affirmed in a poll that they believe their country is moving in the wrong direction?

Some observers have compared the scope of Mexico’s reforms with American legislation to combat monopolies initiated by Theodore Roosevelt early in the 20th century. Roosevelt’s program put formal limits on the ownership of railroads, mines, oil resources, and steel and tobacco production. President Enrique Peña Nieto, in the 21 months he has been in office, has set limits on the ... Read More

Acusan a Santos de colaborar con la represión chavista al deportar a Lorent Saleh

| September 9th, 2014 | No Comments »
El Nuevo Herald


Representantes de la comunidad venezolana en Miami expresaron el lunes indignación por la decisión del gobierno colombiano de deportar a Venezuela a Lorent Saleh y a otro dirigente estudiantil, acusando al presidente de ese país, Juan Manuel Santos, de alinearse con un régimen ampliamente denunciado por sus violaciones a los derechos humanos.

Los dirigentes juveniles Lorent Gómez Saleh y Gabriel Valles Sguerzi, quienes están bajo custodia del Servicio Bolivariano de Inteligencia de Venezuela (SEBIN), fueron expulsados esta semana de Colombia, donde habían buscado refugio de la feroz represión que el régimen de Nicolás Maduro ha emprendido contra la disidencia.

Al explicar su decisión, el gobierno colombiano argumentó que Gómez Saleh había violado las leyes al emprender actividades proselitistas desde territorio colombiano.

Pero para algunos activistas venezolanos que residen en Estados Unidos, la decisión de Bogotá no es más que una muestra más de ... Read More

Mexican drug cartels are expanding their reach in Peru

| September 9th, 2014 | No Comments »
Global Post

LIMA, Peru — When police here unearthed nearly 8 tons of cocaine — a national record — hidden inside lumps of coal late last month, it was little surprise that two Mexican citizens were also arrested.

The brutal Mexican cartels that control the drug routes from remote Andean villages where raw coca plants grow to the world’s largest consumer market, the United States, are known to have been present in Peru since the 1990s.

Nevertheless, the haul found in a small seafront warehouse in Huanchaco, a fishing village known for its surfing on Peru’s northern coast, stood out for another reason: It was bound not for the US but, in two separate shipments, for Spain and Belgium.

“What is surprising is that this implies a change in the criminal map,” said Peru’s former anti-drug czar Ricardo Soberon. “For Mexicans to be running drugs from Peru to Europe, ... Read More

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