Sentido Comun – Magna International, a Canadian auto parts supplier, announced the opening of its new production plant for automobile seats in Allende in the state of Coahuila.
El Economista – Mexico rose 13 places in the global ranking among countries that have improved their fiscal practices. Companies in Mexico have a total tax rate of 51.7 percent of commercial profits and make an average of six tax payments a year.
Reuters – The Mexican government stopped the auction of five sugar mills, the last in state hands, after a judge granted an amaro to the former owners to temporarily suspend sale. The mills produce 10 percent of sugar in Mexico.
Dario – Between 8,000 and 10,000 members of the Federal Police will arrive in Oaxaca in the coming days to monitor the implementation of teacher evaluations next weekend.
Notimex – A group National Polytechnic Institute scientists detected the presence of fecal coliform bacteria in water purification systems being sold by small companies in Mexico City.
Razon – Leonardo Augustus Patterson, one of the biggest traffickers of archeological works worldwide, was sentenced in Germany to a year and three months in prison for selling to a citizen of that country a replica of a colossal Olmec head, which he presented as original.
The Mexican government ranks last in annual spending per student among the Organisation for Economic Co-operation and Development countries, according to a new report made public on Tuesday.
The OECD report, “Education at a Glance 2015,” also revealed that Mexico spends less then $4,000 per student compared to the OECD average of around $10,000.
The findings come despite seeing an increase in investment towards education as a percentage of the country’s GDP, which rose from 4.4 percent in 2000 to 5.2 percent in 2012.
The OECD survey went on to warn that inequalities in education produce serious consequences as on economic and social inequalities due to “its strong links to employment, earnings, overall wealth and the well-being of individuals.”
Reuters – A 5.5 magnitude quake hit Mexico City on Monday, according to the U.S. Geological Survey (USGS), shaking buildings and forcing office towers to be evacuated, although there were no initial reports of damage or injuries.
Weather Channel – Tropical Storm Sandra became the eighteenth named storm of the 2015 eastern Pacific hurricane season early Tuesday morning. Not only is Sandra one of the latest named storms on record, but it’s also expected to become an exceptionally rare late-season hurricane, and, while weakening, may limp ashore in Mexico this weekend.
Bloomberg – By most traditional economic gauges, little is going right today for Mexico. Growth is sluggish, oil exports are falling and credit markets have started to dry up. Yet beneath the surface, a surprising and little-understood transformation is ushering in one of the country’s most important developments in years: the peso’s age-old link with inflation has been broken.
AFP – Qatar’s ruler, Emir Sheikh Tamim bin Hamad Al Thani, arrived on Monday in Mexico City for talks with President Enrique Pena Nieto, a first by an emir since ties were established in 1975.
Vatican Radio – Mexican drug cartels are unchallenged in the criminal world, and their increasing heroin trafficking into the United States is causing grave problems, according to a report by the DEA and the US Department of Justice.
EFE – Despite the growing number of obstacles migrants come up against, the entry of Cubans from Central America across Mexico’s southern border in order to obtain a letter of safe-conduct that will allow them to reach the United States has increased over the past few weeks.
Airways News – Delta Air Lines tendered a cash offer for an additional 32 percent stake in AeroMexico, building upon its existing 4.1 percent ownership of the company and purchase options for an additional 12.7 percent ownership shared with a pension trust for Delta’s employees.
InSight Crime – Five Colombians were found dead in Veracruz, Mexico, in what initially appeared to be an organized crime-style killing, although one theory holds that they were targeted for participating in a loan collection scheme.
By Javier Blas / Bloomberg
Mexico is set to get a record payout of at least $6 billion from its oil hedges this year, according to data compiled by Bloomberg.
The Latin American country locks in oil sales as a shield against price declines through a series of financial deals with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. For 2015, Mexico guaranteed sales at almost $30 a barrel higher than average prices over the past year.
The 2015 payment, due next month, is set to surpass the record from 2009, when the Mexican government said it received $5.1 billion after prices plunged with the global financial crisis. The country’s crude has fallen by almost half over the hedging period so far this year. Crude sales historically cover about a third of the government budget.
“The windfall is huge,” said Amrita Sen, chief oil analyst at Energy Aspects Ltd., a London-based consulting company. “This gives Mexico breathing space.”
The Guardian – Federal officials said on Sunday another group of Syrian refugees – a family of three and two other men – had turned themselves in at the US-Mexico border at Laredo.
New York Daily News – Airline and security officials at Kennedy Airport let 150 passengers arriving from an international flight from Cancun leave the airport without going through customs.
Business Insider – On Friday, Mexican photojournalist Juan Carlos Landa was found dead in central Veracruz. The photojournalist’s killing comes less than three months after the slaying of fellow photojournalist Rubén Espinosa — who had fled Veracruz state for Mexico City just weeks before he was killed.
NYT – A dispute between Mexico’s government and the nation’s sports federations over how public money is spent and how athletes will be selected for the 2016 Olympics could result in Mexico’s being barred from participating as a team at the games.