The Poultry Site - Mexico is currently facing the worst drought on record in 70 years. Out of 31 states, about 19 have been affected. Significant losses for both grain and livestock production are anticipated.
Bloomberg - Mexico’s international reserves fell to $147.9 billion in the week ended Feb. 10, the nation’s central bank reported on its website. The reserves registered a net decrease of $194 million, the central bank said.
Bloomberg - Mexican production of cars and light trucks reached 202,701 units in January, a 1.2 percent increase from the same month a year earlier. Exports of vehicles fell 4.1 percent last month to 158,342 units.
By Associated Press
Mexico’s Roman Catholic Church drew fire Tuesday for releasing a set of voting “guidelines” for the faithful ahead of the July 1 presidential elections.
All religious groups in Mexico are banned from engaging in electoral politics, or supporting or opposing any candidate or party. The guidelines published by the Archdiocese of Mexico on its web site appear to closely skirt the restriction.
But the issue is a sensitive one in Mexico, where harsh anti-clerical laws sparked the 1926-1929 Cristero war, an uprising by Roman Catholic rebels against Mexico’s secular government in which tens of thousands of people died. While loosened in the 1990s, many restrictions on church activities in Mexico remain.
By Carlos Manuel Rodriguez
Barclays, BlackRock Inc. and Deutsche Bank are vying to tap as much as $9.3 billion in Mexican regulated pension assets that are poised to invest in commodities following regulatory changes.
Mexican pension funds, the nation’s largest institutional investors with 1.57 trillion pesos ($123.5 billion) under management, are allowed from this year to invest as much as 10 percent of assets in commodities. The funds known as Afores, barred from such investments since the system was privatized in 1997, allocated most of their holdings to Mexican debt markets.
“We’ve seen globally a great deal of interest in this phase” when pension funds start to invest in commodities, Philippe J.J. Comer, head of commodity structuring for the Americas in Barclays, said in an interview from New York. Mexico’s pension assets are important for commodity asset managers because they’re “going to grow quite significantly.”
Afores may hire investment banks to manage funds, according to regulations published Dec. 7. Pension funds may invest from 5 percent to 10 percent of some of their portfolios in commodity-linked securities and use a larger percentage of assets to buy stocks, under the revised rules.
Mexican pension funds have been wooed by firms such as Barclays, BlackRock and Schroders to manage some of their assets, said Sergio Mendez, who manages 200 billion pesos as money manager at Afore XXI Banorte.
Spokesmen for Deutsche Bank and Schroders didn’t respond to requests for comments.
Sentido Comun - Donaldson, a filtration solutions company, inaugurated a new air filter and fluid plant in Aguascalientes with an investment of $17 million. The new plant will create over 1,000 jobs and manufacture more than 19 million products.
Sentido Comun - Scientists from the National Institute for Forestry, Agriculture and Livestock have developed olive groves in the desert of Sonora with yields of 10 tons per hectare.
Bloomberg - Urbi Desarrollos Urbanos, Mexico’s third largest homebuilder by sales, said 2011 revenue was 16.3 billion pesos ($1.276 billion) to 16.5 billion pesos, or 9 percent to 10 percent higher than the previous year.