A challenge for Mexican president as parents wait for news of missing students

October 16, 2014

10/16/14 The Christian Century

mexico-securityIn fact, in his nearly two years in office Peña Nieto has rarely spoken about violence—an issue that consumed President Calderón’s agenda, including a public crackdown on organized crime and drug cartels. The former president’s approval rating wavered as he often found the media message spinning out of his control. Pena Nieto has taken a markedly different approach, at least publicly. “The conversation about organized crime changed significantly when Enrique Peña Nieto took over,” says Duncan Wood, director of the Mexico Institute and the Wilson Center for International Scholars, a Washington-DC-based think tank. Peña Nieto has deemphasized security as a feature of the “Mexican reality,” and focused on the country’s economic potential, Wood said.

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Headlines from Mexico

October 16, 2014

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1. Authorities have found 6 additional mass graves in Iguala, making it a total of 19 graves to date. The community police who has been in search of the missing students came across the recent discovery. According to nearby residents, this is an area where it is common to see armed men, dark cars and hear screams at night.

Read More: El Universal

2. Su rabia tambien es la nuestra – Their rage is also ours – a collection of photos depicting the growing uncertainity in Iguala, Guerrero and the massive protests that have been occurring.

Read More: La Jornada

3. Nothing will ever be the same after the disappearance of the 43 students. Jose Narro Robles from the Universidad Nacional Autonoma de Mexico warned that violence is being silenced and combated with more violence, affecting not the ones responsible for perpetuating violence but harming those who are innocent.

Read More: La Jornada

4. The council members of Iguala evacuated their offices in fear of a possible protest. This would not be the first time that protests of this magnitude takes place for in April of 2013 parts of the offices were destroyed.

Read More: Excelsior

 


Missing Mexico students: Iguala eyewitness account

October 16, 2014

10/15/14 BBC News

Grave photo credit Kelly DonlanThe search continues in Mexico for 43 students who have been missing since 26 September following clashes with the police. Omar Garcia is one of the students who witnessed the deadly clashes in which six people died. Here he describes what he saw that evening and what he thinks may have happened to his 43 fellow students. We were coming from the center of Iguala and the police started to follow us.

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Don’t Mess With Saudis in Oil Bear Market Global Shakeout

October 16, 2014

10/16/14 Bloomberg

energy - oil barrelsLower oil prices may lead to less of a bonanza for Mexico as it ends a 76-year-old state oil monopoly and opens up to private investment, according to Marco Oviedo, chief economist in the Latin American country for Barclays Plc. The nation is set to hold its first round of auctions next year for oil production contracts that’s forecast to attract nearly $13 billion of investment a year through 2018, according to the Energy Ministry. It will also offer joint ventures with state-owned Petroleos Mexicanos. “Mexico is going to have a very, very important round-one bidding process in just a few months,” Marcelo Mereles, a former Pemex executive who’s now a partner at EnergeA, an energy consultant, said in a phone interview from Mexico City. “ The lowered oil prices could cause bidders to be less aggressive and or shy away from investing in Mexico immediately.”

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Citigroup’s Mexico Unit Fined $2.2 Million Over Loan Controls

October 16, 2014

10/15/14 Bloomberg

finance-market_dataCitigroup Inc. (C)’s Mexico subsidiary was fined 30 million pesos ($2.2 million) by the nation’s bank regulators, which faulted the firm for inadequate controls and making loans that violated lending rules. The regulator known as the CNBV announced the penalty in an e-mailed statement today. Banamex said in a separate statement that it paid the sanction and is working on corrective measures. Citigroup, the third-largest U.S. bank, said in February that it had discovered the Banamex unit had made bogus loans to Oceanografia, forcing the New York-based company to cut previously reported earnings for 2013 by $235 million. Banamex had advanced funds to Oceanografia secured by promises that state-run Petroleos Mexicanos would repay the bank for work the oil-services firm performed.

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Mexico’s Peso Tumbles to Weakest Since February on U.S. Outlook

October 16, 2014

10/15/14 Bloomberg News

Mexican pesoMexico’s peso fell to the weakest since February as concern that the global economy is slowing fueled a selloff in emerging-market currencies. The currency dropped 0.6 percent to 13.5315 per dollar today in Mexico City, the weakest on a closing basis since Feb. 3. Yields on fixed-rate peso bonds due in 2024 dropped five basis points, or 0.05 percentage point, to 5.76 percent, according to data compiled by Bloomberg. The peso’s drop was the second-most among major currencies. A report showed retail sales in the U.S., which accounts for about 80 percent of Mexico’s exports, fell a greater-than-expected 0.3 percent in September. An index of manufacturing in the New York area fell this month to its lowest since April.

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Atco Seeks Partners for Mexico Projects in Energy Opening

October 16, 2014

10/15/14 Bloomberg

Energy -electricity_transmission_linesAtco Ltd. (ACO/X) is looking for partners in Mexico as it positions itself to tap the $5 billion in pipeline and power projects to be offered as part of the country’s energy industry opening. The Calgary-based company has been in talks with as many as eight prospective partners as state-owned Comision Federal de Electricidad prepares to auction projects through 2015, James Delano, who heads Mexican operations, said in an interview yesterday. “We didn’t come here to work alone,” Delano said at his Mexico City office after Atco agreed to build a $50 million pipeline in its first venture in the country. “It’s important for us to work with someone who knows the country well.”

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