May 2011
Stocks gain on Greece but lose ground in May
Dow Jones - Mexican stocks ended higher Tuesday as Greece appeared to be moving toward a debt bailout, but local issues fell on the month on continuing concerns about the vigor of the U.S. economic recovery. The IPC indexrose 0.5 percent to 35833 points.
18 entities are vying for tourism conference
El Universal - A total of 17 states and the Federal District are vying for the seat of Tourism Tianguis 2012, Mexico's big tourism conference, each saying they offer their best attractions such as food, safety, historic sites and connectivity.
IMF candidate Agustin Carstens urges tough plan for the Euro zone if he heads organization
Submitted by mexbiznews on Tue, 05/31/2011 - 5:11amReuters
A non-European head of the International Monetary Fund could mean a tougher, more realistic action plan for the euro zone debt crisis, Mexican central bank chief Agustin Carstens said in newspaper interviews on Tuesday.
Carstens is the only declared rival to French Finance Minister Christine Lagarde in her bid for candidacy to lead the global lender.
"It would be appropriate to have a non-European because a pair of fresh eyes could see European problems with greater objectivity," Carstens told El Pais in a visit to Spain as part of a tour to campaign for the job.
In an interview with Expansion newspaper, he said he had more experience and authority than Lagarde.
Greece, Ireland and Portugal have received international bailouts to combat a debt crisis which threatens to swallow other peripheral euro zone countries. Meanwhile, economists fear Greece's sovereign debt levels are unsustainable.
The resignation of Dominique Strauss-Kahn has led to calls from developing countries to end the traditional European lock on the job.
"I think emerging countries have been faithful partners in the international economy in recent years and we should be recognized," Carstens told El Pais.
www.reuters.com/article/2011/05/31/us-imf-carstens-idUSTRE74U0TF20110531
Torex continues to find gold at Mexico project
Reuters - Canada's Torex Gold Resources, which resumed exploration at its Morelos gold project in Mexico earlier this month, said it continues to find high-grade gold mineralization at the project's El Limon deposit.
www.reuters.com/article/2011/05/30/torex-idUSL3E7GU1ED20110530
Drug gangs compete for bounty from human trafficking
Submitted by mexbiznews on Tue, 05/31/2011 - 4:13am
Global Post
Mexico has long been a trampoline for migrants from around the world trying to bounce over the Rio Grande into the United States. Now Mexico's drug gangs have become increasingly involved in the human trafficking business while the nation's prisons and police are under increased pressure from the crime wave.
Amid these conditions, the migrant issue has come to a boil in Mexico.
Immigration officials estimate that more than 300,000 undocumented foreigners pour through Mexico each year to try to sneak over the southern U.S. border.
Mexico, Argentina vow to boost relations
People's Daily - Mexico and Argentina, building on increasing trade and business links in the past few years, vowed Monday to further expand the scope of their bilateral relationship, signing a raft of agreements.
Teacher protecting kids in gun battle is honored
Fox News Latino - The Mexican government has honored kindergarten teacher Martha Rivera Alanis who became an Internet hit after a video showed her calmly leading children through a duck-and-cover drill as gunfire rattled outside their school in Nuevo Leon.
Mass arrests expose La Familia internal divide
In Sight - With Mexican security forces' arrest of 36 alleged members of the Familia Michoacana drug trafficking organization and the deaths of another 15, the rift between two leaders of the group has spilled into public view.
Slim's plans for TV in Mexico might be on ice for years
Submitted by mexbiznews on Mon, 05/30/2011 - 6:46am
Reuters
Mexican billionaire Carlos Slim might have to wait for years to enter his domestic television market now that the government has rejected his bid so close to next year's presidential election.
Slim must go back to the drawing board after the Communications and Transport Ministry said his fixed line phone giant Telmex, which dominates the market, had not yet met the regulatory requirements for a TV concession.
The rejection was the latest in a string of setbacks for the world's richest man, whose efforts to get into Mexico's TV market have been strongly opposed by the dominant broadcasters Televisa and TV Azteca.
Work is starting to get underway at Mexico's new Bicentennial refinery at Tula
Submitted by mexbiznews on Mon, 05/30/2011 - 6:36amBy Juan García Heredia
El Sol de Mexico
Work at Mexico's new Bicentennial refinery is scheduled to pick up full steam in June as perimeter fencing, relocation of irrigation canals, relocation of CFE pylons, recruitment of engineering for pipelines, technology licensing, and construction of access road and buildings get underway.
Furthermore, bidding for much of the work to be completed at the $9 billion project at Tula in the state of Hidalgo begins and continues throughout the rest of the year.
The Bicentennial refinery is the first new refinery in Mexico in over 30 years. It is scheduled to start operating with an output of 300,000 barrels of oil per day in 2015.
It already has sparked controversy, most notably with accusations of fraud and undue influence in the competition among states putting up land in order to be awarded the project, which is expected to provide considerable employment and development opportunities.
But questions also have been raised about as-of-yet-unresolved crude oil production issues facing Pemex and, perhaps most importantly, the global shift in policy direction toward reduced gasoline consumption.
A Pemex report, which Pemex CEo provided to the Mexican Senate last week, notes that hiring of engineering firms tor the pipelines will begin in June and that contracts for other parts of the project will continue throughout 2011.
