Mexico Court Ruling to Shine Light on Executive Wrongdoings

05/23/2018 The New York Times

Image result for suprema corte de justicia mexico

MEXICO CITY — Mexico’s Supreme Court has struck a blow to those who would like to bury news about alleged wrongdoing by executives and others punished for breaking securities laws, a step toward more transparency in the corporate world.

For years, accused violators of securities and banking laws in Mexico could hide behind lengthy appeals, during which regulators were barred from commenting on charges and investors were left in the dark about crimes such as insider trading.

But in a little noticed decision in February, the Supreme Court backed new powers given to the banking and securities regulator CNBV in 2014 to name violators.

Read more…

Advertisements

Protesters Shut Down Commercial Bridge Linking Mexico, Texas

05/21/2018 New York Times

laredoCIUDAD VICTORIA, Mexico — At least 200 demonstrators blocked a major commercial bridge between Mexico and Texas on Monday to protest the disappearance of dozens of people in the border city of Nuevo Laredo, snarling traffic in both directions into the night.

The protest began around 9:30 a.m. at the bridge, which is used exclusively by cargo trucks traveling between Tamaulipas state and Laredo, Texas, and was still going late Monday.

Thousands of trucks make the crossing each day, and long lines of tractor-trailers backed up along the highway.

Demonstrators were protesting what they consider a weak response by authorities to 43 complaints filed with prosecutors over disappearances in Nuevo Laredo.

Read more…

36 local candidates have been assassinated in Mexico. And the election is still 2 months away.

05/20/2018 The Washington Post

electionsMEXICO CITY — This election season has been the most violent in Mexico’s recent history, with 36 candidates killed since September, and dozens of other politicians and campaign officials slaughtered.

That macabre statistic has created a fresh challenge for the country’s political parties: They are now trying to fill dozens of  candidacies left open by the assassinations.

“There are some positions that no one wants to contest right now,” said Eduardo Guerrero, a security expert at Lantia Consultores in Mexico City. “It’s something that we’re seeing in several states in the country.”

Read more…

Mexico Journalist Fired Over Retweet Seen to Incite Violence

05/06/2018 The New York Times

people phone smartphone technology using westerner white wireless hand finger close up product design writing nail

MEXICO CITY — Mexico’s largest media company severed ties with a prominent journalist Sunday after he came under fire for retweeting a message seen as inciting violence against the country’s front-running presidential candidate.

Televisa’s news division said in a statement that it was ending its relationship with Ricardo Aleman effective the same day and canceling his program “La Mudanza” on Foro TV.

Aleman confirmed the separation via Twitter and also said Channel 11 was shutting down another show he hosts, “Despertador Politico.”

Read more…

Headlines from Mexico

untitled

1. The Mexican economy expanded 2.4 percent in the first quarter of 2018, compared to the same period last year, driven mainly by primary activities, according to the National Institute of Statistics, Computer Science and Geography (INEGI). Compared to the last quarter of 2017, Mexico’s Gross Domestic Product grew 1.1 percent from January to March 2018, the Institute added.

Read more: Reforma, Excelsior, Milenio, Jornada

2. The Mexican Central Bank revealed that remittances to Mexico from the United States rose by 3.96 percent in March. Mexicans living in the United States set an all-time record for the month of March, sending USD$2,620.58 million to their families.

Read more: Forbes, Milenio, El Financiero, Excelsior

3. The Mexican Commission for the Defense and Promotion of Human Rights estimates that the number of people forced to flee their homes due to violence between 2006 and 2017 amounts to 329,917. The displaced individuals have fled the states of Guerrero, Sinaloa, Chihuahua, Chiapas, and Oaxaca.

Read more: Reforma, Jornada, El Economista, El Financiero

4. After being accused of orchestrating a murder, the Mayor of Tlalquitenango, Enrique Alonso Plascencia, has been released from prison. Judge Alejandra Trejo concluded there was not enough evidence to prosecute. Alonso Plascencia was accused of being the mastermind of a murder carried out by seven people, detained on April 20 and believed to be members of Los Rojos, a criminal organization.

Read more: Excelsior, Reforma, Jornada, Milenio

5. Teachers affiliated with the National Educational Workers Coordinator have organized labor stoppage in states like Chiapas, Oaxaca, and Michoacan. They are marching and blocking public areas and demanding a roundtable discussion with the Federal government in order to repeal the education reform.

Read more: Excelsior, Reforma, El Universal, Jornada

Mexico presidency frontrunner should decide quickly on airport if elected -adviser

04/27/2018 Reuters

Image result for amlo

MEXICO CITY (Reuters) – Mexico’s presidential frontrunner Andres Manuel Lopez Obrador should decide quickly on whether to scrap a new Mexico City airport if he wins the July 1 election, a top adviser said on Friday.

The leftist candidate, who has led opinion polls for months, has threatened to scrap the $13 billion project on the eastern flank of the city, arguing it is tainted by corruption and will be too expensive due to its technical and geological complexities.

Javier Jimenez Espriu, Lopez Obrador’s pick to head the transport and communications ministry, said the airport, which is being built on the bed of the former Lake Texcoco, must be subject to a thorough audit to asses its viability.

Read more…

Headlines from Mexico

untitled

1. The net profit of Pemex rose 29 percent in the first quarter of 2018 compared to the same period last year, due to the appreciation of the peso and the performance of financial derivatives. However, Pemex reports a 6.3 percent drop in crude oil production.

Read more: Reforma, El Universal, El Economista, El Financiero

2. The Attorney General of the State of Jalisco said that the three missing cinema students were murdered and dissolved in acid in the municipality of Tonalá. Two members of the Cartel Jalisco Nueva Generación, who are believed to be responsible, have already been detained. Student protests in Guadalajara have asked for the resignation of Governor Aristóteles Sandoval and for an independent international commission to conduct the investigation.

Read more: Excelsior, El Universal, Jornada, Milenio

3. President Enrique Peña Nieto met with Prime Minister Angela Merkel in Germany. They inaugurated the Hannover Fair, and celebrated the agreement reached on the modernization of the Free Trade Agreement Mexico has with the EU.

Read more: El Financiero, Excelsior, El Economista, Jornada

4. The Mexican peso fell to its weakest level in more than four weeks on Monday. Due to the appreciation of the dollar amid investor concerns about the prospect of trade and economic activity globally, the peso hit a low of 18.74 per dollar.

Read more: Milenio, Expansion, El Universal, Excelsior

5. The process to eliminate the judicial privilege extended to public officers has been hampered. The Senate detected at least five areas of improvement in the bill drafted by the Chamber of Deputies. Senators argue that the bill is missing the specification of the crimes for which the president may be tried and which ministerial and judicial authorities may proceed against the Executive.

Read more: Milenio, Excelsior, Reforma, El Economista