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Mexican officials have moved up the date for opening the country's market to imported fuels in an attempt to spur investment at a time when low oil prices have forced the government to cut spending.
President Enrique Pena Nieto said Monday during a visit to Texas that businesses will be able to begin importing gasoline and diesel as of April 1, rather than 2017 as previously planned. The opening was part of historic energy-sector reforms.
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FORBES
Forbes Travel Guide Announces Its 2016 Star Ratings
February 22, 2016
Forbes Travel Guide revealed its 58th list of Star Rating winners — the most in our company’s history. The new list includes the first star-rated properties in Paris, the French Riviera, Rome, Florence, Geneva, England’s Home Counties, Berlin, Bermuda, the U.S. Virgin Islands, Puerto Rico, Grand Cayman, Nevis, Barbados, the Dominican Republic, St. Martin, Cancun, San Miguel de Allende, Ixtapa, Zihuatanejo, Los Cabos, Iguazu Falls, Hangzhou and Taipei. For the past year, our team of professional incognito inspectors has traveled the world in search of the best hotels, restaurants and spas to add to your must-visit list.
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FORBES
Mexican President: ‘It Is Not The Time to Stop’ on historic Oil Reforms
February 22, 2016
Mexico needs big oil sector investments now in order to be ready to profit when crude prices inevitably turn.
In a keynote speech to kick off the 2016 annual IHS CERAWeek conference in Houston, Mexican President Enrique Pena Nieto emphasized his dedication to further spearhead the privatization of Mexico’s beleaguered oil sector, despite low oil prices. “It is not the time to stop. It is the time to move forward,†he said.
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France 24
Mexico to hold deep water oil auction in December
February 22, 2016
MEXICO CITY (AFP) - Mexico will hold a much-anticipated auction for deep-water oil projects in early December, the president said Monday, vowing to press ahead with the sector's opening despite falling crude prices.
The government held three other auctions for shallow-water and onshore contracts last year as part of a historic energy reform that opened the sector to foreign investors for the first time since 1938.
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THE HUFFINGTON POST
City's New Airport in a Lake
February 24, 2016
The collapse of oil prices and consequent loss of oil-related revenues have forced the government of Enrique Peña Nieto to considerably scale down its plans for grandiose infrastructure projects. However, one mega-project remains on drawing boards: a new international airport for Mexico City (referred to locally by its Spanish acronym, NAICM). As is the trend these days for any city with global aspirations, the futuristic design was drawn up a leading architect, in this case UK-based Norman Foster in partnership with Mexico's own Fernando Romero...
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THE GUARDIAN
Miguel Aguilar: the most politically significant player in MLS
February 24, 2016
A year ago Miguel Aguilar had just seen a dream come true.
After overcoming huge obstacles he was a professional footballer, picked in the first round of the MLS draft by DC United.
Twelve months on, with the US presidential race in full swing, he is one of the most politically significant sportspeople in the USA.
The 22-year-old is a rarely gifted player; an intelligent, two-footed, lightening streak attacker of devilish precision and deceptive strength. He enjoyed a quietly promising first professional season.
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GSMA
GSMA ANNOUNCES WINNERS OF THE 2016 GLOMO AWARDS
February 25, 2016
Barcelona: The GSMA today congratulates all winners of the 2016 Glomo Awards, which were announced during a series of ceremonies and live TV presentations throughout the week at the GSMA Mobile World Congress in Barcelona. Awards hosts TV presenters Suzi Perry and Ortis Deley revealed the winners on Mobile World Live TV and at the official awards ceremony, which took place on Tuesday, 23 February.
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THE GUARDIAN
Monarch butterfly migration to Mexico jumps after years of decline
February 26, 2016
The insects covered over three and a half times more wintering grounds than last season, as diminishing milkweed and illegal logging has disrupted movement.
Monarch butterflies have made a big comeback in their wintering grounds in Mexico after suffering serious declines, investigators said Friday.
The area covered by the orange-and-black insects in the mountains west of Mexico City this season was more than three and a half times greater than last winter.
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THE IRISH TIMES
A pint, a pizza & a game of chess: Board game cafes are coming
February 13, 2016
Blame geek culture or the desire for something different but in Toronto every major street has a board-game cafe, by Lynn Freehill-Maye
In walkable Toronto, every major street seems to offer a space for playing old-fashioned tabletop games, with drinks and snacks on the side. Several, like Castle Board Game Cafe near the University of Toronto, evoke dorm lounges with plain chairs and soft couches.
Shareable plates are a constant across the game cafes, but the drinks of choice vary....
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THE IRISH TIMES
AB InBev suffers in US ahead of SABMiller takeover.
February 25, 2016
Anheuser-Busch InBev, which is strengthening its position as the world’s largest brewer by buying SABMiller, reported lower than expected fourth-quarter earnings on Thursday as it suffered a declining US market share and margins.
The Belgium-based maker of Budweiser, Corona and Stella Artois forecast improved volumes and a better brand mix in its largest market, the United States, another strong year in Mexico, but economic challenges in Brazil and China.
AB InBev gave no new information on its planned $100 billion (€91bn) takeover of nearest rival SABMiller, saying it still expected the deal to close in the second half of this year.
Provisional sales
It has already arranged provisional sales of US and European brands to Molson Coors and Asahi respectively. Bond issues have also seen it secure funding for about $47 billion of the purchase price
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FINANCIAL TIMES
New chief faces big challenges at Pemex
February 26, 2016
Reeling from crushing losses and hammered by the oil price plunge, state-owned Pemex, Mexico’s biggest company, will unveil its turnround strategy on March 29 together with its 2015 results. Both will be painful.
Is Pemex bankrupt?
If Pemex were an ordinary company, not a pillar of the federal budget, the answer would be yes: at the end of the third quarter of 2015, Pemex reported total assets of $126bn, outstripped by $191bn in liabilities. ...
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FINANCIAL TIMES
Pemex to defer $3.6bn of investments
February 29, 2016
Pemex, Mexico’s state-owned energy company plans to defer $3.6bn of investments as it seeks to slash spending without eroding production further.
“I am fully convinced Pemex is facing short-term financial difficulties but clearly is an amply solvent company,†José Antonio González Anaya, who took over as chief executive of Mexico’s biggest company with a mission to turn it around, told a conference call with analysts ahead of 2015 results.
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