Markets: 48hr interbank sell-rate on peso weakens 0.10% to 12.8993 per US$ in early trade Monday
Mexico Watch Intelligence Service
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17 August 2009
Editorial Jornada: 'Femicides' continue in Juarez, but futile militarization of narco-war has overshadowed that violence with other violence
Los Pinos Spends Hand Over Fist - In 1H, Office of the President overshot congressionally assigned budget by 37.5% to MXN1.3bln
Top Biz Story Reforma: Suppliers Bear Brunt Of Crisis - Big retailers pressure suppliers to lower prices, bear costs of crisis
Top Story Jornada: Ruling May Stoke Paramilitaries - Congressional committee warns release of Acteal accused could lead to more violence
Top Story Economista: Bureaucratic Spending Still Fat - Spending on federal delegations in states rose 235% from 2000 to present to MXN67bln
Top Story Financiero: Urgent: More Flexible, Competitive Economy - Chronic failure to pass new reforms created the gravity of current crisis
Top Story Excelsior: Opposition Creates Bloc Against New Taxes - PRI, PRD lawmakers vow to oppose Finance Ministry's bid for new taxes
Top Story Milenio: Top Bureaucrat Insurance Costs MXN10bln - Medical and retirement payouts cost govt 10bln pesos in 1H despite budget cuts
Top Story Cronica: Internatl Human Traffic In Minors Blamed On 'The Perfects' - Religious organization formed part of global network
14 August 2009
Markets: Stocks open lightly negative as Bolsa IPC index falls -0.47% to 28,024.30 in early trade Friday
Editorial Universal: Public investment curtailed raises questions: Where will future funds come from? Mexico needs to do something to grow
Top Story Universal: Budget Cuts Hit Anti-Crisis Plan - Highway project among hardest hit by recent federal adjustments
Editorial Jornada: While rest of world sees a bottom to recession, Mexico's problems are just getting going, thanks to budget crisis
Top Story Jornada: Ebrard Demands Use Of Idle Federal Funds - Mexico City mayor looks to discretionary spending, retirement pension funds
Top Story Reforma: Cuts Hit Public Works, Development - 20% reduction in state budget transfers hits public works, security, and development
Top Biz Story Reforma: Sugar Pushing Up Food Prices - Sugar hikes of 15-20% in past month feeding through to staples, sweets
Top Story Economista: Federal Transfers To States Exhausted Model: Senate - States can no longer depend of central government for budget
Top Story Financerio: Cutbacks, Debt, Pillars Of Public Finances - Drastic adjustments, higher taxes on dock for 2010, says Finance Ministry
Top Story Excelsior: MXN85bln Federal Budget Cutback Hits Infrastructure - Transport Ministry cancels public works projects on slashing
Top Story Milenio: IMSS In The Red For 1st Time - For the first time in history, Mexican Social Security Institute posts deficit: MXN4bln
Top Story Cronica: SCT Suspends Public Works Bids - After US$1bln budget cut, Transportation Ministry forced to suspend new projects
13 August 2009
Markets: Benchmark 48hr interbank sell rate for peso firms 0.59% to 12.8983 pesos per US$ in early trade Thu
Editorial Jornada: Lack of due process in Acteal case is a pretext; guilty are going free for political ties to PAN government
Top Story Jornada: Court Orders 20 Released In Acteal Killings- In historic decision, Supreme Court enjoins imprisonment of 26 of 54 accused
Editorial Universal: Supreme Court ruling to release falsely imprisoned in Acteal massacre case positive, but true culprits must be found
Top Story Universal: New Refinery To Hidalgo - 10 months after president announces new refinery, Tula, Hidalgo designated as project site
Top Story Reforma: Hidalgo Wins Refinery - State completes legalization of land buy for new site, Pemex says cheaper to build in Tula
Top Biz Story Reforma: FinMin Urges States To Securitize - Agustin Carstens advises states to place securities backed by future state funds
Top Story Financerio: No Fiscal Margin - Low tax revenue aside, tax collection among world's lowest, and reform promise is dim: Congress
Top Story Economista: National Governors Association Demands Federal Aid - Finance Minister meets w/states, promises to speed disbursement
Top Story Excelsior: Refinery Goes To Hidalgo - Viability and cost lead Pemex to opt for Tula over Guanajuato site for gasoline refinery
Top Story Milenio: 20 Accused in Acteal Massacre Freed - On Supreme Court ruling that human rights, due process violated, released from jail
12 August 2009
INEGI: Jun seasonally adjusted, annualized IP/Construction 10.36% v. -14.72% in May -- annual trend rate -0.59%
INEGI: Jun seasonally adjusted, annualized IP/Manufacturing -13.79% v. -29.24% in May -- annual trend rate -9.25%
INEGI: Jun seasonally adjusted, annualized IP/Gas, Water, Power 3.82% v. -16.70% in May -- annual trend rate 0.85%
INEGI: May GFI Machinery & Equipment Indicator -48.6% v. -50.6% in Apr -- Annual trend at -22.6% in May
COREX: INEGI: May GFI M&E Domestic Indicator -61.0% v. -33.1% in Apr -- Annual trend at -23.6% in May
Markets: Peso weakens 0.1% in midday trade Wed to 13.0233 per dollar at 48hr sell rate; closed Tue at 13.0075
Top Story Reforma: Whisteblowing Ignored; Chapo Flees - Federal authorities ignored leads on most-wanted narco Joaquin El Chapo Guzman
Editorial Universal: Fiscal crisis means new taxes, but country does not need mini-reform; time now to close tax holes for big corporations
Editorial Jornada: Drastic fiscal news not news to finance authorities; govt obviously covered up fiscal crisis until after July elections
Top Story Jornada: Carstens: Mexico In Financial Shock - More debt, taxes needed to bridge fiscal gap in 2010; tough decisions called for
Top Biz Story Reforma: Industrial Production Falls 11% In 1H09 - IP declines 10.7% in 1H09, worst for similar period since 12.1% in 1983
Top Story Economista: Fiscal Gap In 2010 Of 2.5% of GDP - Finance Minister warns Senate Mexico faces worst fiscal crisis of 30 yrs in 2010
Top Story Excelsior: 2010, No Money, No Options - Finance Minister predicts record fiscal deficit of MXN308bln as oil production levels fall
Top Story Milenio: Future Is Here, Finances In Shock: FinMin - Carstens sees record fiscal gap, austere 2010 fiscal spending budget
Top Story Cronica: Taxes To Cushion Oil Fall - Finance Minister says 2010 budget should have new taxes to halt worst fiscal shock in 30yrs
11 August 2009
Top Story Excelsior: Narcos Are The Human Rights Offenders: Obama - US president defends Calderon's HR record, says narcos are true culprits
Top Story Milenio: Cartel Planned Calderon Assassination - After arrests, seizure of US$30mln, Sinaloa Cartel hatched plan to kill president
Top Story Cronica: Obama Backs FCH On Human Rights - At Nafta Summit President Obama says Calderon running drug war respecting human rights
10 August 2009
Markets: Bolsa IPC up 0.45% at close Mon at 28,305.32 v. open of 28,179.80 -- range 28,034.63 - 28,364.55
Markets: Peso weakened 0.32% at close Mon at 48hr sell rate of 12.9420 v. open of 12.9010 -- range 12.8945 - 12.9750
Top Story Universal: Calderon, Obama Agree To Modernize Border - Mexico, US, and Canada agree to cooperate on trade, environment, security
Editorial Jornada: The trilateral Nafta summit in Guadalajara did not tackle any of the pressing issues; rather it was a display of inertia
Top Story Jornada: Issues At Trilateral Summit Stuck - Immigration, human rights, not receiving attention, agreement among Nafta partners
Top Story Reforma: Narcos Enlist AFIs - 4 of 10 agents that quit the Federal Agency of Investigation (AFI) have joined organized crime gangs
Top Story Financerio: Investors Pull Back From Mexico - With the economy stagnating, global investment not flowing into country: Invex
Top Story Economista: PRI Will Control Lower-House Committees - The PRI will control the majority of the 44 committees to influence budget
Top Biz Story Reforma: Free Trade Accords Little Help - To emerge from crisis, FTAs do little; pacted with countries in crisis too
Top Story Excelsior: Monitor Failed: IFE - Electoral institute says US$28mln system to track electoral spots on air fails to monitor airtime
Top Story Milenio: More Counternarcotics Training, Asks Calderon Of Harper - President asks Canadian prime minister for police training aid
Top Story Cronica: Conditions Not There For Migration Reform - Mexican ambassador to US says conditions do not exist for US policy overhaul
Markets: Peso was flat in midday trade Mon at 48hr sell rate of 12.96 v. Fir close of 12.96 - firmed 0.7% -- Fri range 12.91 - 13.24
Markets: Bolsa IPC up 0.62% in midday trade Mon at 28,354.93 v. Fri close of 28,179.55 - up 1.36% -- Fri range 27,802.41 - 28,306.00
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09 August 2009
Top Story Excelsior: Nafta Summit To Focus On Crisis - 3 nations won't touch Nafta renegotiation, will focus on anti-recession coordination
Top Story Universal: Nava To Lead PAN; Divisions Persist - Following 5hrs of intense debate, natl council elects Cesar Nava interim head
Top Story Milenio: Nava Wins PAN Presidency 88% - Warns PAN councilors he will not seek to win elections at any cost, PAN values come first
Top Story Jornada: International Prices Of Basic Foods Rebounds - Corn, soy, wheat on rise; 06-08 increases drove 5mln Mexicans into poverty
Top Story Reforma: PAN Elects Nava - PAN Natl Council elects Cesar Nava president by vote of 290 for, 39 null, 19 abstentions, 23 absences
Top Story Cronica: No State Party, Says Nava - Saturday vote taps Cesar Nava president-elect of PAN party; promises autonomy from govt
08 August 2009
Top Story Universal: Cargo Haulers To Sue US - 4,500 members of National Cargo Transport Chamber to sue US for US$2bln for violating Nafta
Top Story Reforma: Water Wasted In Federal District... And It's Cheaper! - Federal District residents but have lowest H2O rates in Mexico
Top Story Jornada: "Freeing Acteal Prisoners Would Cover Massacre" - Supreme Court order based on lack of due process; victims sure of guilt
Top Story Cronica: Landbuyers Never Had Official Registry - Firm used by govt to acquire farmland for refinery never had formal operations
Foreign Affairs: US Senate confirmed nominee Carlos Pascal as new US ambassador to Mexico; Cuban-American nominated by Obama 2 months ago
Markets: Bolsa IPC up 1.35% at close Fri at 28,179.55 v. open of 27,803.37 -- range 27,803.37 - 28,306.00
Markets: Peso weakened 0.27% at close Fri at 48hr sell rate of 12.9570 v. open of 12.9225 -- range 12.9070 - 12.9700
07 August 2009
Banxico: Headline Consumer Price Index up 0.27% in Jul to 5.44% annualized v 5.74% in Jun; core inflation up 0.34% to 5.32% v 5.39% in Jun
Top Story Reforma: National Construction Industry Chamber To Be Audited - Role in contracts for school rehabilitation funds questioned
Editorial Universal: The ABC decision by the Surpreme Courts gives the sensation that change and justice sill really can occur in Mexico
Top Story Universal: Court Will Investigate IMSS Daycare System - Magistrates to inquire into fire tragedy, and the system as a whole
Editorial Jornada: It is laudable that the Supreme Court seek justice for parents of 49 dead in daycare fire; Acteal culprits enjoy impunity
Top Story Jornada: Court Ready For ABC Daycare Case - Supreme Court voted 8-3 to accept case, investigate possible negligence of authorities
Top Story Economista: Summit Agenda Empty - Canada, Mexico, US will arrive at North American leaders summit without common agenda
Top Story Financerio: Crisis Fades, But Recession Sticks Around - Recession hit bottom in the industrialized world, but not yet in Mexico
Top Story Excelsior: Supreme Court Agrees To ABC Inquiry - Will investigate to see if grave violations of individual rights were committed
Top Story Milenio: Supreme Court Agrees To Review ABC - In an about-face agrees to asign commission to investigate daycare fire for guilts
Markets: Bolsa IPC up 1.02% in early trade Fri at 28,085.27 v. Thu close of 27,802.41 - down 1.00% -- Thu range 27,786.33 - 28,275.31
Top Story Cronica: Guanajuato Goes From Tricks To Threats Against Farmers - Telephone threats called in against those mulling legal action
Markets: Peso firmed 0.9% in early trade Fri at 48hr sell rate of 12.93 v. Thu close of 13.05 - weakened 0.1% -- Thu range 12.98 - 13.24
06 August 2009
Markets: Bolsa IPC down 1.01% at close Thu at 27,802.41 v. open of 28,086.64 -- range 27,786.33 - 28,275.31
Markets: Peso weakened 0.43% at close Thu at 48hr sell rate of 13.0455 v. open of 12.9890 -- range 12.9750 - 13.0675
INEGI: Composite Indicators; Leading Index= 107.6 (2003=100) May vs. 108.6 points in Apr -- -0.92% on month
INEGI: Composite Indicators; Current Index= 95.7 (2003=100) May vs. 98.2 points in Apr -- -2.55% on month
Editorial Universal: Not just Acteal: system regularly fakes evidence, jails scapegoats; without due process, Mexico will never have justice
Top Story Universal: PGR Faked Evidence In Acteal Case - Supreme Court says at least 40 indigenous wrongly imprisoned for 11yrs for massacre
Editorial Jornada: A foreign govt chides Mexico on human rights abuses; Calderon policy of deploying military as police assures such abuses
Top Story Reforma: PRI Wins Congressional Seats... And MXN930mln - PRI will obtain larger share of federal funds for 2010 elections
Top Story Jornada: Funds For Merida Initiative Blocked - US Senator rejected State Department report on Mexican military human rights record
To Biz Story Reforma: Quotas Adjusted For Crisis - Private universities adopt strategies to retain students, gain market amid downturn
Top Story Financiero: Bureaucracy Destination Of Extra Income - Most of extraordinary revenue from oil boom of past 6 years grew government
Top Story Economista: Confidence In Economy Reborn - Consumer confidence in Mexican economy reached its highest level since September 2008
Top Story Economista: Water Cuts Crucify Businesses - Rationing forces companies to spend up to MXN30,000 to buy water from private sources
Top Story Milenio: Zelaya Finishes Trip Praising AMLO - Addressing group of leftist supporters, ousted Honduran president tips hat to AMLO
Markets: Bolsa IPC down 0.15% in early trade Thu at 28,040.20 v. Wed close of 28,082.63 - up 0.76% -- Wed range 27,646.89 - 28,169.64
Top Story Cronica: Guanajuato Admits To Cheating Farmers - Govt officials admits to tricking communal farmers into selling; calls it clever
Markets: Peso firmed 0.5% in early trade Thu at 48hr sell rate of 12.97 v. Wed close of 13.04 - firmed 0.8% -- Wed range 13.00 - 13.24
05 August 2009
REPEAT: INEGI: Jul Headline Consumer Confidence Index= 85.8 v. 82.8 Jun (2003=100) and 89.0 1-year ago Jul
INEGI: Jul Consumer perceptions of household welfare v. 12 months ago= 89.9 v. 87.2 Jun (2003=100) and 94.1 1-year ago Jul
INEGI: Jul Consumer perception of prospects for economy one year from now= 93.0 v. 90.3 Jun (2003=100) and 86.2 1-year ago Jul
INEGI: Jul Consumer perceptions of household welfare one year from now= 98.7 v. 92.7 Jun (2003=100) and 96.0 1-year ago Jul
Markets: Peso firmed 0.80% at close Wed at 48hr sell rate of 13.0385 v. open of 13.1430 -- range 13.0040 - 13.1650
Markets: Bolsa IPC up 0.73% at close Wed at 28,081.10 v. open of 27,876.65 -- range 27,646.89 - 28,169.64
Editorial Universal: Supreme Court arguments against launching inquiry in daycare tragedy are spineless; once again justice will not be done
Top Story Universal: "No Reason To Investigate Childcare Deaths" - Supreme Court rejects petition to launch inquiry into ABC daycare tragedy
Editorial Jornada: Honduran crisis is opportunity for Mexico to abandon neoliberal foreign policy bent of recent years, recover standing
Top Story Reforma: States Suffer Flu, Sit On Emergency Funds - Chiapas, Coahuila, Jalisco, Tabasco fail to disburse federal heath funds
Top Story Jornada: 1,165 Human Rights Complaints For Counternarctics Actions - Allegations of military, police abuse in war on drugs in 2009
Top Story Milenio: SSP Apologizes To Catholic Church - Federal Security Ministry apologized for raid on Michoacan church during narco mass
Top Story Financerio: Raising Tax Collection To 18% Of GDP, The Challenge - Tax revenue up MXN810bln pesos in past 8yrs - still insufficient
Top Story Economista: Comply With Tax Man Costs More - Cost of paying taxes up more than 60% since fiscal reform in 2007
Top Story Excelsior: Homebuilding Plunges - New home starts down 40%, Infonavit says -- collapse in new mortgage credits to blame
Top Story Cronica: FCH Backs Zelaya, Calls For Respect For Arias Plan - Calderon receives Zelaya in Los Pinos, supports his return to power
Markets: Bolsa IPC down 0.60% in early trade Wed at 27,703.75 v. Tue close of 27,869.92 - up 0.64% -- Tue range 27,586.45 - 28,015.19
Markets: Peso weakened 0.2% in early trade Wed at 48hr sell rate of 13.16 v. Tue close of 13.14 - weakened 0.1% -- Tue range 13.09 - 13.24
Markets: Bolsa IPC up 0.64% at close Wed at 27,869.92 v. open of 27,692.48 -- range 27,586.449 - 28,015.189
Markets: Peso weakened 0.02% at close Wed at 48hr sell rate of 13.1380 v. open of 13.1350 -- range 13.0885 - 13.1440
04 August 2009
Editorial Universal: Senate committee with oversight of National Human Rights Commission and tasked with selecting new president hasn't met
Dengue Outbreak Reaches Central Mexico - No deaths reported, but authorities have declared and epidemiological alert as new cases crop up
Editorial Universal: Children with sun damage to eyes after being forced to play symphony for Education Minister latest shameful incident
Top Story Jornada: Electoral Magistrates Earn MXN4mln/yr - 7 magistrates of Federal Electoral Tribunal enjoy plush salaries, benefits
Top Story Reforma: Residential, Industrial Power Rates Hiked - Due to higher fuel costs, rates increased 13% for industry, 5% for households
Top Biz Story Reforma: US Car Sales Improve - Cash For Clunkers program sparked improvement in July; big three show month-to-month gains
Top Story Excelsior: 12% Of Mortgages In Bad Debt Portfolios - Non-bank mortgage lenders see unpaid housing loans swell
Top Story Economista: Govt Seeks To Cut Paperwork - Pledges to reduce from 34 days to 2 hours and 5 steps the process to open new business
Top Story Financerio: Fall In GDP Has Yet to Find Bottom - Consensus forecast calls for -10.2% in Q2, -6.4% in Q3, -3.0% in Q4, survey finds
Top Story Milenio: Church Criticizes Raid - Clerics complain after federal agents burst in on mass in Michoacan, nab La Famila gang members
Markets: Peso weakened 0.2% in early trade Tue at 48hr sell rate of 13.16 v. Mon close of 13.13 - firmed 0.5% -- Mon range 13.09 - 13.24
Markets: Bolsa IPC down 0.09% in early trade Tue at 27,667.84 v. Mon close of 27,692.48 - up 2.40% -- Mon range 27,074.00 - 27,803.15
03 August 2009
Markets: Bolsa IPC up 2.28% at close Mon at 27,692.48 v. open of 27,074.06 -- range 27,074.000 - 27,803.150
Markets: Peso flat at close Mon at 48hr sell rate of 13.1300 v. open of 13.1300 -- range 13.0850 - 13.1444
INEGI: Producer Confidence Index (PCI) 37.55 points in Jul vs. 35.93 points in Jun (>50 manufacturing generally expanding, <50 contracting)
Editorial Universal: Mexico may have the largest human rights public structure in the world -- but it lacks all-important credibility
Top Story Universal: CNDH Called 'Expensive, Useless' - NGOs, international orgs say National Human Rights Commission costly, ineffective
Top Story Jornada: 60 Children Suffer Damage To Eyes In Symphony For Education Minister - Retinas, corneas burned by sun during event
Top Biz Story Reforma: Injunctions On Countervailing Duties Rain Down - Decree that imposed punitive duties on some US imports being fought
Top Story Reforma: Country Suffers Lack Of Water - Mexico's main cities have a water shortage; 18% less per capita on average than 2000
Top Story Economista: Structural Factors Undermine Telecom - Instability, regulatory uncertainty, and economic crisis have slowed IT growth
Top Story Financiero: States, Municipalities To Securitize Funds - States, munis may securitize federal funds on Bolsa by banding together
Top Story Excelsior: Banxico Defends Power Subsidies - Central bank defends government policy of discounting electricity rates in summer
Top Story Cronica: Farmers Tricked Into Selling Land For Guanajuato Refinery - State allegedly used fake company, profit-sharing promises
Top Story Milenio: Oil Pipeline Tapping In 30 States: Pemex - Stealing fuel from Pemex pipelines is lucrative, low-risk, and spreading
02 August 2009
Top Story Universal: Crisis Forces Federal District To Slim Bureaucracy - Capital govt orders salary cuts for 20k workers, hiring freeze
Top Story Jornada: Hikes In Electricity Rates May Create Social Disturbances: Senate - Leftist senators say hike in power, fuels dangerous
Top Story Reforma: Domestic Tourism Boosted By Crisis - Despite sector's foreign woes, more Mexicans are traveling in country due to crisis
Top Story Cronica: Tourism Revenue Down By Half - Tourism revenue in 2009 will hit US$7.6bln v US$12.2bln in 2008, congressional study says