Correspondent, Mexico
Mica's Feed
Jun 17, 2011

Grupo Mexico sues for seats on airport co. board

MEXICO CITY, June 17 (Reuters) – Miner Grupo Mexico is
pushing to obtain more seats on the board of Grupo
Aeroportuario del Pacifico (GAP), stepping up its fight to win
control of Mexico’s top airport operator.

Grupo Mexico has said the main reason for its interest in
GAP is to strengthen its infrastructure arm. The miner wants to
boost its weight on GAP’s board after announcing its intentions
to acquire more than 50 percent of the airport company’s
shares.

Jun 14, 2011

Airport operator GAP jumps after Grupo Mexico bid

MEXICO CITY (Reuters) – The shares of Mexico’s Grupo Aeroportuario del Pacifico (GAP) jumped on Tuesday after mining and infrastructure company Grupo Mexico said it wants to buy up to 100 percent of the airport operator’s stock.

Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research, Stock Buzz), which has steadily been buying shares in GAP (GAPB.MX: Quote, Profile, Research, Stock Buzz)(PAC.N: Quote, Profile, Research, Stock Buzz) since last year, said late on Monday it wanted to increase its current 23.5 percent stake through a public offering.

Jun 1, 2011

Mexico’s Pemex sues US firms over fuel smuggling

MEXICO CITY, June 1 (Reuters) – Mexico’s state-run oil
company Pemex is suing 11 U.S. companies for buying up to $300
million of fuel stolen by drug gangs and smuggled across the
U.S.-Mexico border, court documents showed.

Pemex’s [PEMEX.UL] exploration and production (PEP) unit
filed the suit on Sunday in a U.S. district court in Texas,
claiming some of the companies conspired with Mexican criminals
to forge documents and smuggle the hijacked natural gas
condensates.

Jun 1, 2011

Mexico’s Pemex sues US companies for buying smuggled fuel

MEXICO CITY, May 31 (Reuters) – Mexico’s state-run oil
company Pemex is suing eleven U.S. companies for buying up to
$300 million of fuel stolen by drug gangs and smuggled across
the U.S.-Mexico border, court documents showed.

Pemex’s exploration and production (PEP) unit
filed the suit on Sunday in a U.S. district court in Texas
claiming some of the companies conspired with Mexican criminals
to forge documents and smuggle the hijacked natural gas
condensates.

May 26, 2011

Surrealist painter Leonora Carrington dies aged 94

MEXICO CITY (Reuters) – British painter Leonora Carrington, one of the last surviving artists from the golden age of Surrealism, has died aged 94 in her adopted home of Mexico City, where she had lived quietly for decades.

Mexico’s national arts council said Carrington died on Wednesday night in the Mexican capital. Local media reported she died of pneumonia.

May 23, 2011

Colombia shifts from drugs to food in farm expansion

BOGOTA (Reuters) – Colombia plans to nearly double agricultural land growing crops for food and biofuel, part of a new investment boom in the country as violence ebbs from a decades-long internal conflict fueled by drug profits.

The idea is to transform the vast eastern plains, dotted for years with illicit coca plantations, into the country’s bread basket in a push to bring down food prices and boost revenues from agricultural exports.

May 11, 2011

Colombia peso debt yields fall,inflation seen lower

BOGOTA, May 11 (Reuters) – Yields on Colombia’s
peso-denominated benchmark government TES bonds due July 2024
fell to 8.199 percent at auction from 8.332 percent at the
previous April 27 auction, traders and the government said on
Wednesday.

The peso-denominated Colombian Treasuries, known in
shorthand as TES, are the second largest source of revenue for
the government after tax collection and in the auction on
Wednesday other yields also dropped.

May 10, 2011

Files from Colombia’s FARC rebels show ties to Chavez

BOGOTA (Reuters) – Colombian leftist guerrillas may have tried to assassinate rivals of Venezuela’s President Hugo Chavez and trained his supporters in urban warfare, an analysis of thousands of seized rebel documents showed on Tuesday.

The study of the files seized during a 2008 raid on a rebel camp inside Ecuador also showed that the Revolutionary Armed Forces of Colombia (FARC) contributed some $400,000 to Ecuador’s President Rafael Correa’s election campaign.

May 3, 2011

Key political risks to watch in Colombia

BOGOTA, May 3 (Reuters) – Tussles over President Juan
Manuel Santos’ reform agenda, an ongoing guerrilla and drugs
war, peso appreciation and delicate ties with neighbors
Venezuela and Ecuador are key risks to watch in Colombia.

REFORMS AND ROYALTIES

Since coming to office in August, Santos has pushed an
ambitious set of reforms ranging from adjusting the management
of oil and mining royalties to overhauling the health system
and government finances. Already Colombia’s fiscal performance
during the global economic crisis and Santos’ promises to deal
with deficits prompted Standard and Poor’s to grant the country
investment grade, and other credit agencies will likely soon
follow. [ID:nN11250209]

Apr 29, 2011

Colombia central bank ups growth view, hikes rate

BOGOTA, April 29 (Reuters) – Colombia’s central bank raised
its 2011 growth forecast on Friday and increased interest rates
for the third time this year but did not take any new measures
to curb the strength of the country’s currency.

Latin America’s fifth-biggest economy is among regional
economies such as Brazil, Chile and Peru that have raised
interest rates to fight inflation spurred by higher fuel and
food costs.

    • About Mica

      "I cover commodities and general news in Mexico and Central America and as part of the team in Latin America reported on the outbreak of swine flu, a coup in Honduras and the earthquakes in Haiti and Chile. Before Mexico, I was based in Guatemala for two years."
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