Plastics News - The new head of Mexico’s plastics industry association - Asociación Nacional de Industrias del Plástico - is targeting Central and South America as export markets offering the greatest potential for growth for Mexican processors.
By Simeon Tegel / The Independent
When the conquistadors brought bullfighting to Mexico more than 500 years ago, few could have foreseen how popular it would become.
Today, the largest bullring in the world can be found in Mexico City, and the country is regarded as second only to Spain for the quality and number of bullfighters and bulls that it produces.
But all that could change today as legislators are set to vote on whether to ban the sport in the Mexican capital.
By Cyntia Barrera
Regulators are due to vote today, Monday, on one of Mexico's biggest antitrust cases, a $1 billion fine for tycoon Carlos Slim, which has been bogged down in court appeals and disputes for a year.
Federal competition commission Cofeco slapped Telcel, the cash cow of Slim's giant telecoms company America Movil, with the record sanction in April 2011 after ruling the company charged excessive prices to wireless and wireline competitors to connect to its network.
Telcel appealed the fine and even managed to ban Cofeco's President Eduardo Perez Motta from taking part in a second vote, where the agency will decide if it ratifies, drops or modifies the fine against Slim, the world's richest man.
Perez Motta got into trouble last year with comments he made about the agency's crackdown on Telcel.
The Slim company complained of unfair treatment by Cofeco's chief regulator, filing a motion that cut Perez Motta out of that second vote, which was originally expected in September.
Getting Slim to pay such a large sum would be a major victory for Cofeco, whose ability to enforce the rules in a country where many major industries are concentrated in the hands of a few powerful families is seen as weak.
Fox News - The Mexican government says it is tightening inspections and lowering maximum allowed weights for freight trucks after protests over deadly accidents involving double-trailer trucks. Independent truckers have protested.
Bloomberg - Mexico’s central bank kept its benchmark interest rate unchanged at a record low of 4.5 percent for the 26th consecutive meeting after inflation slowed and the outlook for economic growth improved.
Christian Science Monitor - Mexico's Senate has approved a bill to compensate victims of organized crime, a major demand of the peace movement led by poet Javier Sicilia. Under the law, the state will provide compensation of up to 934,000 pesos ($70,000) to victims.
Dow Jones - Mexican cement and building materials company Cemex said that an improved operating environment, particularly in the U.S., reduces the company's need to sell assets as it continues to carry a hefty debt load.
Dow Jones - Mexican broadcast and telecommunications company Grupo Televisa said that its net profit almost doubled in the first quarter of the year as double-digit growth in all lines of business was accompanied by lower financial costs.
Fox Business - Mexican bank Grupo Financiero Banorte said its net profit jumped 36 percent on the year in the first quarter to 2.46 billion pesos ($187 million), backed by double-digit growth in bank deposits and loans.