Prospera pone a México a la vanguardia del combate a la pobreza en AL

October 20, 2014

10/19/14 Impact.Mx

SecretariadedesarolosocialCon Prospera México se coloca a la vanguardia de América Latina en el diseño de estrategias de combate a la pobreza, reconocieron autoridades de los bancos Mundial (BM), Interamericano de Desarrollo (BID) y expertos del Woodrow Wilson Center y de la Brookings Institución. La Secretaría de Desarrollo Social (Sedesol) informó en un comunicado que durante la visita de su titular, Rosario Robles Berlanga, a esas instituciones, el director ejecutivo para México del BID, Juan Bosco Martí, destacó los beneficios del programa. Aseguró que Prospera tuvo excelente recibimiento de los expertos del BID, porque “no solamente tiene los elementos para trabajar en reducir la pobreza, sino los mecanismos para permitir a las personas insertarse en el mercado laboral y crear su propia riqueza”. El jefe de la División de Protección Social y Salud del BID, Ferdinando Regalia, recibió muy bien la explicación de Robles Berlanga sobre la inclusión productiva de las mujeres y la generación de empleos.

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Mexico Finds Many Corpses, but Not Lost 43

October 20, 2014

10/18/14 New York Times

guerrero

With borrowed shovels and pick axes, the farmers drove their battered pickup trucks to a series of suspicious clearings in the countryside, jumped out and started digging. “Hey, hey, it’s a spine,” one of the men, part of a citizen police patrol, called out last week, fishing out what appeared to be a piece of spinal column. Soon came other fragments — a rib? a knee bone? Five mass graves have already been discovered in the hunt for 43 students who disappeared last month after clashing with the local police — and another half dozen secret burial sites like this one are being tested to determine the origins of the remains inside.

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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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UPDATE 2-Banamex uncovers new $15 mln fraud in Mexican bank unit

October 16, 2014

10/14/14 Reuters

citigroupCitigroup Inc said on Tuesday it had uncovered a $15 million fraud at its troubled Mexican unit Banamex related to a security services company the bank operated. The company was originally set up only to protect Banamex board members and their families from kidnappers and other attackers, a person familiar with the investigation said. Citi said the company was also found to have been offering its services to third parties. The fraud was related to expenses claims submitted by the company to the bank, the person added.

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Citi’s consumer banking head plans to leave: WSJ

October 15, 2014

10/14/14 Reuters

citigroupManuel Medina-Mora, head of Citigroup Inc’s (C.N) consumer banking and chairman of the company’s troubled Mexico unit, is preparing to leave in the coming months, the Wall Street Journal reported, citing people with knowledge of the situation. Details of Medina-Mora’s departure were not finalized and could change, but he is expected to leave or announce his departure by early next year, the Journal reported.

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The Opening of Mexico’s Energy Sector

October 14, 2014

By Duncan Woodgas pipeline and gauge

When considering why the Mexican energy reform, which was signed into law in August, is such an important development, there are a large number of reasons to see this as a momentous change for Mexico and for North America. The reasons range from the political to the economic to the psychological, and include elements of both scale and content. What we are witnessing in Mexico is nothing more than both a paradigm shift in energy policy, and a revolution in the energy sector that rivals the nationalization of 1938 in terms of impact.

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Oceanografia Mediator Said to Deny Some Citigroup Claims

October 14, 2014

10/13/14 Bloomberg

The Mexican mediator in oil-services company Oceanografia SA’s bankruptcy has rejected at least 2 billion pesos ($150 million) of claims sought by Citigroup Inc. (C), said a person with knowledge of the matter. Citigroup had sought about 7.7 billion pesos of claims in the case, said the person, who asked not to be named because the findings aren’t public. The government-appointed mediator, Jose Antonio de Anda Turati, excluded some of the New York-based bank’s claims because it didn’t provide sufficient documentation to support them, the person said.

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