Everybody’s heard about the economic growth of China, India, Mexico and Russia (well, at least, until recently). But it turns out that success has come with a big asterisk: These countries now are the biggest source of illegal money in the world, exporting $1 trillion a year in laundered funds, drugs, and under-the-table payments.
This is the dark side of the developing world, according to a new report by international corruption watchdog Global Financial Integrity (GFI). And it’s growing — by 10 percent a year.
Breitbart – Almost 200 Americans have been kidnapped in Mexico this past year; 79 of those kidnappings took place just south of the Texas border in the Mexican State of Tamaulipas, according to the FBI.
Golf Channel – Tiger Woods officially opened El Cardonal at Diamante in Cabo San Lucas, the first Woods-designed course to reach completion. Woods saw three prior designs – in Dubai, in Mexico and in North Carolina – all abandoned because of downturns in the economy.
Business Wire – InterGen says its Altamira Compression Station in Tamaulipas is now operational. The 40,000 horsepower station will transport up to 1.3 billion cubic feet per day of natural gas in Mexico’s pipeline system.
PRNewswire – From rich traditions and stunning historical sites to glittery New Year’s Eve celebrations and haute cuisine, Mexico City serves up a cultural escape to make spirits bright for any traveler.
NYT – Raúl Salinas de Gortari, the brother of former President Carlos Salinas de Gortari, has been cleared of charges of illicit enrichment, ending his two decades of legal battles over charges ranging from money laundering to murder.
The Guardian – Mexican federal authorities had real-time information of an attack on a group of student teachers by corrupt local police, but did nothing to stop the disappearance and probable massacre of 43 people, according to new evidence published by the news magazine Proceso.
Telesur – Mexico will send army troops to participate in one of the 16 UN peacekeeping missions in progress presently – part of the government’s efforts to step up its positive profile on the international stage.
NYT – Mexico is expected to name a special prosecutor to investigate corruption. That might be what the public demands. What it is getting is a prosecutor with little of the independence necessary to carry out the stated mission.
Bloomberg – Mexico’s top-performing fund manager says the country’s real-estate investment trusts will thrive as the peso weakens — partly because many commercial-building rents are collected in dollars.
EFE – Top energy officials for the United States, Mexico and Canada agreed to the outlines of a “new roadmap” by signing a 15-point agreement including the promise to exchange information and recognizing the need to work on energy security and environmental policies.