October 2011

Canadians, Mexicans to pay $5.50 to enter U.S.

CBC News - Canadian and Mexican travellers are once again going to have to swallow a $5.50 tax if they enter the United States by air or sea. Canada and Mexico had been exempt from the fee since 1997 under Nafta.

www.cbc.ca/news/politics/story/2011/10/24/pol-us-ticket-tariff.html

Princess Cruises returns to Puerto Vallarta, Mazatlan

USAToday - Rodolfo Lopez Negrete, chief operating officer of the Mexico Tourism Board, says tourism officials are "obviously very happy" that Princess Cruises is returning to Puerto Vallarta and Mazatlan on sailings from California in 2012.

travel.usatoday.com/cruises/post/2011/10/princess-cruises-mexico-puerto-vallarta-mazatlan/557092/1

Homex 3rd Q profit falls on exchange losses

Dow Jones = Mexican home construction company Desarrolladora Homex said Monday that its net profit fell in the third quarter from a year earlier as exchange losses offset gains in revenue and operating cash flow.

online.wsj.com/article/BT-CO-20111024-717153.html

Mexico posts third consecutive trade deficit

Dow Jones - Mexico posted a third consecutive trade deficit in September and swung into negative territory for the first time year-to-date, as petroleum imports grew sharply compared with September 2010, and oil exports grew more moderately.

www.nasdaq.com/aspx/stock-market-news-story.aspx

Thousands affected by flooding in southeast

Irish Weather Online - Several rivers in southeastern Mexico spilled over their banks in recent days. The Usumacinta River alone damaged homes and croplands in multiple cities, and isolated rural areas by washing out roads.

www.irishweatheronline.com/news/environment/flood/thousands-affected-by-flooding-in-mexico/42976.html

Peso closes firmer as risk appetite returns

Dow Jones - The Mexican peso closed Monday sharply firmer against the U.S. dollar as investors returned to the market on hopes that a credible euro-zone debt solution could be reached this week. The peso closed at 13.3695 to the dollar.

online.wsj.com/article/BT-CO-20111024-715961.html

Stocks close higher on Euro-zone hopes

Dow Jones - Mexican stocks closed higher Monday on positive signals from Europe about a plan being negotiated to help resolve the region's sovereign-debt crisis. The IPC indexgained 0.7 percent to 35,266 points.

online.wsj.com/article/BT-CO-20111024-716379.html

U.S. agents are infiltrating narco-trafficking groups across Mexico

By Ginger Thompson
The New York Times

U.S. law enforcement agencies have significantly built up networks of Mexican informants that have allowed them to secretly infiltrate some of that country’s most powerful and dangerous criminal organizations, according to security officials on both sides of the border.

As the United States has opened new law enforcement and intelligence outposts across Mexico in recent years, Washington’s networks of informants have grown there as well, current and former officials said.

They have helped Mexican authorities capture or kill about two dozen high-ranking and mid-level drug traffickers, and sometimes have given American counternarcotics agents access to the top leaders of the cartels they are trying to dismantle.

Typically, the officials said, Mexico is kept in the dark about the United States’ contacts with its most secret informants —- including Mexican law enforcement officers, elected officials and cartel operatives -— partly because of concerns about corruption among the Mexican police, and partly because of laws prohibiting American security forces from operating on Mexican soil.

“The Mexicans sort of roll their eyes and say we know it’s happening, even though it’s not supposed to be happening,” said Eric L. Olson, an expert on Mexican security matters at the Woodrow Wilson Center.

www.nytimes.com/2011/10/25/world/americas/united-states-infiltrating-criminal-groups-across-mexico.html

Bicycles are rolling into fashion in Mexico City

By David Agren / Special for USA TODAY

Vendors and a few die-hard enthusiasts riding their bikes on the Mexican capital's traffic-clogged streets used to make up the entire cycling contingent in this city where cars rule the road.

But cycling is on the increase in many Mexico City neighborhoods and has even become fashionable among the middle and upper classes, who had always looked down on bike riding as the conveyance of the poor.

Mexico's attempts to promote bicycle riding as an alternative to cars might explain why biking has surged in popularity and public acceptance in recent years.

www.usatoday.com/news/world/story/2011-10-24/biking-surges-mexico-city/50897802/1

Pemex to drill in deep waters of Gulf of Mexico

FXStreet.com - Mexico’s state owned Petroleos Mexicanos, also known as Pemex, intends to explore deep waters exploration in the Gulf of Mexico, estimating that the sites could contain up to 3 billion barrels of oil.

www.fxstreet.com/fundamental/market-view/whats-going-on-in-the-oil-market/2011/10/24/