February 2012

L.A. Mexicans protest difficulty voting in elections

89.3KPCC - Activists and leaders from local Los Angeles Mexican organizations stood across the street from the Mexican Consulate holding protest signs, saying the Mexican government does not serve most potential voters who live outside the country.


Peso gains as debt concern eases

Bloomberg - Mexico’s peso rose for a second day as an improvement in European economic confidence buoyed the outlook for global growth and exports from Latin America’s second-biggest economy. The peso gained 0.4 percent to 12.8444 per U.S. dollar.


Stocks end higher on U.S. data, Euro zone

Dow Jones - Mexican stocks closed solidly higher Tuesday, as positive U.S. consumer confidence data and some hopeful signs coming out of the debt-laden euro zone helped ease risk fears. The IPC indexrose 0.6 percent to 38,021 points.


Lorena Ocho is keen for a part in 2016 Rio Olympics

By Carlos Calvo / Reuters

Former world number one Lorena Ochoa, who retired from the LPGA tour two years ago, wants to play a part for Mexico when golf returns to the Olympic Games after a 112-year absence at Rio de Janeiro in 2016.

"I can't see myself playing but I would like to be involved, either with the (Mexican Golf) Federation or as a coach, travel with the Mexican team," she said in an interview with Reuters.

Ochoa, who retired at the top having headed the LPGA rankings from April 2007 to May 2010, could also play a role in the Rio Games if she and Australian Greg Norman win the competition for the Olympic course design.


Pemex says interest is growing in Mexico's private oil contracts


Mexico's state oil monopoly Pemex said on Tuesday that private companies were showing significant interest in a second round of oil field operating contracts after an international road show to promote the projects.

On Jan. 19, the company published the rules for a second round of contracts expected to be awarded in the first half of 2012 to exploit 22 mature oil fields in northern Mexico.

The fields currently produce just 12,000 barrels of oil per day (bpd) but proven, possible and probable (3P) reserves are
approximately 220 million barrels oil, Gustavo Hernandez, a deputy director for exploration at Pemex, told a conference call
with investors.

The total prospective resources in the six areas is estimated at 1.672 billion barrels of oil equivalent, he said.

"We went on a road show, attending meetings in Dallas, Calgary and Houston two weeks ago and last week we went to Bogota in Colombia and Buenos Aires," Hernandez said.

"Many companies have shown interest in participating in this because we have included two offshore fields and four onshore fields," he said. The aim is to increase production by around 100,000 barrels per day (bpd) over the next three to four years.


High court upholds independence of Cofetel decisions

Sentido Comun - The Supreme Court of Justice's Office made a ruling in response to a request for an injunction that the Ministry of Communications and Transportation (SCT) has no power to review decisions taken by the Federal Communications Commission or Cofetel.


Private firms invest in 1,000 tourism projects in 2011

Sentido Comun - Private companies last year nvested about 3.72 billion pesos $289 million) to build more than 1,000 tourism infrastructure projects, reported the Ministry of Tourism.


Three companies offer miners 8% wage increase

Sentido Comun - Miners Mining Company, Minera El Porvenir and Mineral Cube reached an agreement to offer miners an annual wage increase of 8 percent, well above the expected inflation for this year of between 3.7 and 3.8 percent.


Supplies of trout sufficient for Lent

Sentido Comun - Mexico's Department of Agriculture reported that the annual availability of trout reaches 7,000 tons, thereby guaranteeing sufficient supplies for the Lent season.


BBVA Bancomer collects $54.3 million from bond sale

Sentido Comun - BBVA Bancomer, Mexico's largest bank, collected 700 million pesos ($54.3 million) from the sale of a bond bank for two years. The bond was rated AAA and Aaa by Moody's and Fitch Mexico.