August 2010
Only 17 of 71 Bicentennial projects completed
Reforma - Although state governments announced with great fanfare 71 infrastructure works that would be built to commemorate the Bicentennial, only 17 have been completed. The remainder are under construction, suspended or no information was available.
China imports of Mexican minerals rise 10%
Maquila Portal - Export of Mexican minerals to China increased almost 10 percent and amounted to $1.13 billion in 2009. China, the second purchaser of Mexican minerals, has only two mining projects in Mexico, while Canada ranks first with 74 projects.
Delphi shifting Anahuac operations to Saltillo
Maquila Portal - Because of damages caused by Hurricane Alex, Delphi is closing its cable and component assembly plant in Anahuac, putting about 700 employees out of work, and shifting operations to Saltillo, where it plans a plant expansion.
Polaris is shifting work from Wisconsin to Nuevo Leon
Maquila Portal - Polaris Industries announced it will transfer its operations from Osceola, Wisconsin, to the municipality of Apodaca in Nuevo Leon, where they will invest $55 million to start producing ATVs and SUVs by March or April 2011.
Frida and Diego are on new 500-peso bill
El Universal - The Bank of Mexico on Monday put into circulation a 500-peso bill designed to thwart counterfeiters that is adorned with the portraits of Mexico's reknown artists Diego Rivera and Frida Kahlo.
Electricians pact with LyFC is terminated
Milenio.com.mx - The Federal Board of Conciliation and Arbitration notified the Mexican Electricians Union (SME) that its labor relations and collective bargaining agreement with the former Luz y Fuerza del Centro has been terminated.
Two investor groups said to be willing to rescue Mexicana as GAP sues and passengers scramble
Submitted by mexbiznews on Tue, 08/31/2010 - 4:25amFrom La Jornada and Reuters
Two very strong groups of investors are interested in rescuing Mexicana Airlines, Secretary of Communications and Transport Juan Molinar Horcasitas revealed on Monday as the country's airport operators are feeling the pinch from Mexicana and its Click and Link subsidiaries cancelling flights.
At a press conference with Tourism Secretary Gloria Guevara, Molinar vowed that Mexicana will fly again if adequate financial, administrative and operational conditions are achieved.
Without revealing the two groups of investors, he said the government will give them legal certainty but no tax incentives.
Airport operator Grupo Aeroportuario del Pacifico, or GAP, appears most impacted by Mexicana's suspension because the three airlines generate 17 percent of its revenue. Today, Tuesday, the company initiated legal procedures against Mexicana to recover money it is owed, according to Milenio. Banamex also downgraded GAP shares from buy to hold.
How the drug war is pushing cartels into human trafficking
Submitted by mexbiznews on Tue, 08/31/2010 - 3:13am
The Christian Science Monitor
Most drug trafficking news in Mexico, horrific as it might be, slips out of the public consciousness the following day.
But the massacre of 72 migrants in northern Mexico last week, the worst known mass killing since Felipe Calderón took office in December of 2006 declaring war against organized crime, has sparked debate about the vulnerabilities of migrants traveling through Mexico to the United States.
It also confirmed what the government and analysts have claimed for some time: that criminal gangs are increasingly diversifying their illicit activities.
Stocks, peso, bonds fall on U.S. worries
Dow Jones - Mexican stocks fell Monday, along with the peso and local government bonds as disappointing U.S. economic data added fuel to investor concerns about the recovery. The stock market's IPC index fell 1.2 percent or 373 points to 31,383. The peso closed at 13.14, its weakest level since May.
Mexico City woos same-sex honeymooners
CNN - As more governments approve same-sex marriage laws, Mexico City officials are hoping to attract a growing part of the tourism market: gay honeymooners. The city has opened an office catering to gay tourists that is described as the first of its kind in Latin America.
www.cnn.com/2010/TRAVEL/08/31/mexico.same.sex.honeymoon/
