Fox News Latino - The death toll from the Apodaca prison riot in northern Mexico has risen to 44, a security official said, making it the Mexican penitentiary system's most violent episode in five years.
Variety - A booming subscriber base, more channels and a film industry that is growing in depth and quality are conspiring to turn up the heat on regional pay TV sales for Latin American pics at this year's Guadalajara Film Market.
Reuters - Mexico drew in a record $31.65 billion of investment into its local-currency debt in 2011, the central bank said, as global investors sought refuge from Europe's crisis.
By Jonathan Roeder and Nacha Cattan
European nations, struggling to end their debt crisis, should look at Latin America’s triumph over decades of financial crashes as a blueprint for resolving their woes, said officials at a summit of the world’s biggest economies in Mexico.
Mexican President Felipe Calderon used the two-day summit of Group of 20 finance officials to urge policy makers to follow his country’s example and take decisive action to prevent turmoil in Europe from further hurting global economic growth.
Latin America has so far proven resilient to global volatility after countries, including Brazil and Mexico, cut spending over the past two decades.
In contrast, European nations are still trying to halt contagion more than two years after Greece’s debt crisis emerged. The International Monetary Fund forecasts Latin American economies will grow 3.6 percent in 2012, three times the expected pace for advanced nations.
Luis Tellez, chief executive officer of Bolsa Mexicana de Valores, the nation’s stock exchange, said Europe isn’t acting fast enough to staunch the damage.
“While Europe took years to make decisions, we made decisions with the U.S. and the IMF in two months,” said Tellez, who was chief of staff to then-President Ernesto Zedillo during the Tequila crisis that followed devaluation of the peso in 1994.
Bloomberg - Morgan Stanley, owner of the world’s biggest brokerage, is setting up a fixed-income group in Mexico as part of its expansion in Latin America. The addition of the fixed-income team follows the bank’s move to trade stocks on the Mexican exchange.
Reuters - The International Monetary Fund flagged higher oil prices as a rising threat to the global economy on Friday, urging policymakers to keep a close eye on western tensions with Iran, which is facing punitive measures against its crude supplies.www.reuters.com/article/2012/02/24/us-g20-oil-idUSTRE81N1DH20120224
Sentido Comun - Liverpool, Mexico's largest department store chain, announced that this year will invest 9 billion pesos ($700 million) to open eight department stores, shopping malls and various extensions and remodel existing stores.
Sentido Comun - New president of the National Chamber of the Tequila Industry, Eduardo Orendain, said the group asked authorities to regulate the word "agave" as a trademark. Over 80 percent of so-called agaves do not meet certification standards.
Sentido Comun - AeroMexico announced that as of March 9 will offer a new flight between Mexico City and Bogota that will operate on Thursdays, Fridays, Saturdays and Sundays. It will also offer a second daily flight to San Jose, Costa Rica.
Sentido Comun - Representatives of those opposed to the construction of the Piedra Larga wind farm began negotiations with Spanish firm Renovalia Energy to resolve what opponents considered violations of land rights in the Isthmus of Tehuantepec.