July 2011

Gay rights activist murdered at home in Mexico City

Fox News Latino - A gay rights activist was murdered over the weekend at his Mexico City home, a Party of the Democratic Revolution, commission said. Christian Ivan Sanchez Venancio's killing was a hate crime, the commission said.


Fixed-rate sales dry up as investors in Mexican firms brace for rise in inflation

By Jonathan J. Levin and Andres R. Martinez

Sales of fixed-rate corporate bonds in Mexico’s local market are in their longest drought in six months as investors shun the securities on speculation the central bank will boost benchmark borrowing costs next year.

There have been no fixed-rate offerings in the past six weeks, the longest stretch since the period ended Jan. 21, while sales of floating-rate bonds from companies, including Banco Inbursa, surged more than three-fold this month to 9.7 billion pesos ($831.7 million), according to data compiled by Bloomberg.

Variable-rate bonds have accounted for 73 percent of this year’s 112 billion pesos of offerings, putting sales on pace for a record year.

While inflation is holding near a five-year low, traders are betting policymakers will raise interest rates from a record low as soon as April as the expansion in Latin America’s second-biggest economy accelerates.

A rebound in the U.S. economy, the destination for 80 percent of Mexico’s exports, will cause growth to pick up in its southern neighbor, fueling price increases, said Alonso Madero, who helps oversee $5.5 billion of debt at Corp. Actinver.

Most Mexican companies that sell floating-rate bonds in the local market lock in a fixed rate by using the swaps market, Deputy Finance Minister Gerardo Rodriguez said in an interview in New York last month.


Mitt Romney's roots run deep in Mexico

Washington Post - Three dozen of Mitt Romney's relatives live in a narrow river valley at the foot of Mexico's western Sierra Madre. Like Mitt, these Romneys are descendants of Miles Park Romney, who came in 1885 seeking refuge from U.S. anti-polygamy laws.


Sundance to start drilling at Pluton property

MARKETWIRE - Project operator Sundance Minerals and Excellon Resources have agreed to commence drilling at the Pluton property in Mapimi in Durango. Drilling will be carried by Major Drilling of Hermosillo.


Agents arrest local leader of Knights Templar

AP - Federal police have arrested a leader of the Knights Templar drug cartel in Michoacan. Security forces say Bulmaro Salinas Munoz, alias "El Men," 33, was arrested in Morelia, where he had allegedly been the cartel's local chief since August 2010.


Amex starting drilling an Nueva Escondido property

MARKETWIRE - AMEX Exploration has obtained all necessary permits and license for its drill program at the Nueva Escondida property in Sonora and drilling is expected to begin as early as today.


More than 100 arrested in human trafficking raids

CNN - Authorities in Ciudad Juarez arrested more than 1,000 people over the weekend in an operation aimed at cracking down on human trafficking. Raids in two dozen bars, hotels and boarding houses netted arrests of 500 men and 530 women.


Mexico City significantly cuts greenhouse gases

PRNewswire - Greenhouse gas emissions have been reduced by an accumulated 5.7 million metric tons in Mexico City since it began implementing its Green Plan in 2008. The reduction represents 82 percent of its target of reducing emissions.

Papayas from Mexico recalled for samonella

ValleyCentral.com - A McAllen produce company is recalling all its Blondie, Yaya, Mañanita, and Tastylicious Brand papayas because they could be contaminated with salmonella. The papayas were imported from Mexico.


12 migrants kidnapped 2 months ago are rescued

UNB - The Public State Safety Secretariat of Mexico said that twelve migrants who were kidnapped two months ago in the northeastern Mexican state of Tamaulipas were safely rescued by the federal police of Mexico.