Reuters – Shares in troubled Mexican construction company ICA plummeted by more than a fifth on Tuesday to their lowest level in more than 13 years after it said it would enter a grace period on a bond payment.
Sentido Comun – Economists surveyed by the Bank of Mexico raised for the first time in 14 months their expectations for this year’s economic growth rate after the country performed better than expected in the third quarter.
Sentido Comun – Sukarne, a company that is a leader in the production and marketing of meat in Mexico, invested $32 million to open an innovation and research center that it hopes will improve its processes of quality analysis through the collection of scientific information.
Reuters – Mexico’s Cemex, one of the largest cement companies in the world, announced on changes to its management team, including the president in the United States, its biggest market.
Televisa – Two mummies from the Celaya municipal Pantheon and three coffins of the mummies of Guanajuato were taken without authorization to be exhibited in a tourist expo in Mazatlan, Sinaloa. Authorities are investigating.
CNNExpansión – Google began operations 10 years ago in Mexico and now celebrates the opening of new offices in the country in which more than 200 employees work fo the technology giant.
By Elijah Stevens / InSight Crime
Prisoners in Mexico are paying enormous fees for essential needs and physical security, a news report says, highlighting the role of prisons in fueling illegal markets, corruption, and organized crime.
Mexican prisoners are paying between $150 and $300 per month for basic services to survive throughout their sentences, according to the BBC. In order to receive essential human needs, including drinking water and bathing, as well as protection, prisoners across Mexico pay fees to prison guards, officials and other prisoners.
To have a place to sleep and a blanket, for example, prisoners pay around $6. Prisoners also have to pay for every change of their sanctioned uniforms — around $1.20 for each set. And in some prisons, inmates pay around $20 per day just to be counted on the official attendance list.
Communication with the outside world is also costly and difficult, as there are fees for phone cards as well as having a cellular phone, which can cost between $90 and $121. Additionally, families have to pay for visits, including individual fees for every door they pass through.
The profits from such fees are allegedly passed upwards to high-level officials, reported the BBC, although government officials deny this level of corruption.
National Post – Prosecutors in Sinaloa said that the burned-out vehicle found with two charred bodies inside was registered in the name of one of two missing Australians.
Reuters – Mexico’s state-owned oil company Pemex has entered into a partnership with Global Water Development Partners that aims to invest $800 million in water treatment infrastructure projects.
Quartz – Mexico City officials have an elevated idea about how to deal with the city’s hellish traffic: Hover over it. The city’s science, technology and innovation department unveiled a prototype of an aerial transportation system that would float over the sea of cars, potholes and street protests that regularly disrupt life in the enormous metropolis.
Reuters – Mexico’s largest construction company ICA on Monday said it would take a 30-day grace period in paying some $31 million in interest to holders of its bonds due in 2024.
Inquirer – Mexico has created a special unit to investigate the disappearance of 43 students last year, yielding to longstanding demands of irate parents who dismiss the government version of what happened.
Zacks – America Movil, the undisputed leader of the Mexican telecom market, recently won approval from Mexican telecom regulator setting prices the company can charge as its interconnection fees.
EFE – Mayor Miguel Angel Mancera inaugurated the Mexico City Metro’s Line 12, which has been plagued by construction problems and corruption allegations that led to the closing of several stations in 2014, over the weekend.
Sentido Comun – Inmobiliaria Vesta Corporation, a leading developer of warehouses and distribution centers in Mexico, will invest $44.4 million to build two industrial buildings for the production company propellers of windmills, TPI Composite, in Ciudad Juarez.
Sentido Comun – Grupo Aeromexico reached a multi-year labor agreement with the pilots of its regional and feeder subsidiary Aeromexico Connect.
Sentido Comun – Santa Fe Hotel Group estimates its total revenues will grow between 20 and 23 percent in 2016 compared to the end of reporting results this year. It expects to close 2015 with total revenues of 930 million pesos ($54.7 million dollars).
La Razon – A new finding at the Templo Mayor could represent the first step to find the site where the ancient Mexicans cremated Moctezuma I, Axayacatl and Tizoc. A tunnel has been discovered that opens into the right half of Cuauhxicalco, a circular structure where the chieftains were incinerated.