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Financial Times
BP plans to open its first filling station in Mexico City next week
28 February 2017
BP is stepping on the gas in Mexico. On March 9, the British oil major plans to open its first filling station in Mexico City. The company — which won two deep-water exploration blocks last December in a tender in which it partnered with Statoil of Norway and Total of France — says it will grow its petrol station network organically, but a spokesman had no more details ahead of the official launch, writes Jude Webber in Mexico City. Mexico’s energy sector was closed to competition for nearly eight decades, with state-owned Pemex the only player in hydrocarbon exploration and production, as well as filling stations. The company’s green, white and red eagle logo is a fixture on filling stations nationwide. Mexico has more than 11,400 service station franchises staffed by uniformed attendants – getting out of your car and filling it up yourself is unknown here. Other gas stations have begun popping up, including Hidrosina, La Gas and OxxoGas, but so far there are no big...
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Financial Times
Banxico denies Fed swaps report
1st March 2017
Agustín Carstens, Mexico’s central bank governor, told a news conference the bank was “categorically” denying that it could seek a swap line from the Federal Reserve in case of liquidity problems, saying the bank had “never even thought of asking” for such a thing. His comment came after Bloomberg earlier reported sources saying it was considering seeking such a tool from the Fed in case of volatility in its currency. “I can say clearly and unequivocally that we are not in the process of asking for any credit line from any authority,” he said. The peso has strengthened to around 20 per dollar, in part because of the announcement of a $20bn foreign exchange hedging programme by Banxico, which will start with an auction next Monday for up to $1bn. The peso’s recent stability contrasts with its collapse immediately after the US election, in part because the peso is traded round the clock and widely used to hedge emerging market risk. Mr Carstens, who met...
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Financial Times
Mexico’s economy minister to meet US auto executives in trade push
2 March 2017
Ildefonso Guajardo, Mexico’s economy minister, will meet executives from Ford and General Motors in Detroit on Friday, as well as officials from two auto-parts companies with plants in Detroit and Mexico, as part of a visit designed to talk up the benefits of Nafta. Mr Guajardo, who was part of the team that negotiated the North American Free Trade Agreement that took effect in 1994, will also address the Detroit Economic Club on the subject of US-Mexican bilateral relations, relations between the state of Michigan and Mexico and the current situation and future of the free-trade pact, the ministry said in a statement, writes Jude Webber in Mexico City. It did not say whom the minister would meet or name the car-parts companies. President Donald Trump has vowed to revamp Nafta, saying the current deal is not in the US’ interests. According to Inside US Trade, a trade publication, Commerce secretary Wilbur Ross this week told Democrats on the House Ways and Means Committee that the administration would formally notify Congress that it intended to renegotiate Nafta “some time around March 15”. That will trigger a 90-day review period. However, that is supposed to be ...
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Money Week
Mexico will have the last laugh as Trump builds his wall
28 February 2017
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The Guardian
Missing 400-year-old Jewish manuscript to return to Mexico
2 March 2017.
The oldest Jewish document of the New World will be returned to Mexico in March, more than seven decades after it disappeared.
The document, a 1595 autobiography of Luis de Carvajal, is considered to be an important artefact showing Jewish life on the American continent but disappeared from Mexico’s national archives more than 75 years ago, according to the Mexican consulate in New York.
It resurfaced on auction markets in London and New York in 2015 and 2016, and was subsequently lent to the museum of the New York Historical Society by the Mexican government.
Spanish-born Luis de Carvajal was put on trial during the 16th-century Inquisition in Spain’s colony of Mexico, suspected of being a Jew. While in prison he began writing a memoir in which he called himself Joseph Lumbroso, or Joseph the Enlightened. He was from a family of “converso” Jews who ...
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Architects Journal
Women in Architecture Award winners announced
3 March 2017.
Two architects from Mexico have won the biggest accolades at this year’s Women in Architecture awards, held at Claridge’s today
Gabriela Carrillo, co-founder of TALLER Mauricio Rocha + Gabriela Carrillo, was named Woman Architect of the Year 2017, seeing off a shortlist that included Julia Barfield of Marks Barfield.
Meanwhile Rozana Montiel, also a Mexican architect and head of Rozana Montiel Estudio de Arquitectura, was announced as the winner of the Moira Gemmill Prize for Emerging Architecture.
Both women were praised by the judges for having ‘demonstrated excellence in design and a commitment to working both sustainably and democratically with local communities’.
The jury was particularly impressed with Carrillo’s Criminal Courts for Oral trials in Pátzcuaro, Mexico, which they stated ’skilfully answered a brief to design flexible spaces...
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Bloomberg
Credit Suisse Veteran Says ‘Very Major’ Currency Moves Over
3 March 2017.
Buy the pound. Don’t short the yen. Take profits on the ruble.
These are some of the views of Credit Suisse Group AG’s senior adviser, Robert Parker, who spoke in a phone interview from London this week. He joined the bank in 1982 and was previously vice chairman of its asset-management business.
Parker said the biggest moves in currencies are mostly over as elections in Europe and a likely retreat in global stock markets will make investors cautious about putting money into riskier investments.
“A lot of the very major moves have now taken place,” he said. “Foreign-exchange market volatility, which has declined, is probably going to stay fairly low.” He suggested investors need to be cautious on risk over the next three months.
The investment adviser’s comments come as a gauge of swings in global foreign-exchange markets fell this week and remains close to a three-month low. The euphoria surrounding U.S. President Donald Trump’s promised pro-growth agenda has run its course, and there’s scope for disappointment from his policies, Parker said.
Here is a selection of his views on various currencies:...
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The Economist
Using tourism to teach Mexicans about corruption
2 March 2017
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Financial Times
Mexican homebuilder settles SEC ‘fake homes’ fraud charges
3 March 2017.
Forget “smile, you’re on candid camera”. Mexican homebuilder Desarrolladora Homex has agreed to settle charges after the US Securities and Exchange Commission used eye-in-the-sky satellite images to allege it faked more than 100,000 home sales in a $3.3bn fraud. The commission said in a statement Homex – at one time one of Mexico’s top homebuilders – had reported revenues for the homes in its financial statements from 2009-11 but “the SEC used satellite imagery to help uncover the accounting scheme and illustrate its allegation that Homex had not even broken ground on many of the homes for which it reported revenues”, writes Jude Webber in Mexico City. The SEC alleges that Homex inflated the number of homes sold in those years by approximately 317 per cent and overstated its revenue by 355 per cent – or $3.3bn – and says the results Homex reported contained figures that were “almost completely made up”...
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Bloomberg
Norman Foster on Taking the Torture Out of Flying
2 March 2017
Cities have leveled mountains and dredged harbors for architect Lord Norman Foster and his airports. His firm, Foster + Partners, has designed them for Beijing, Hong Kong, London, Panama City, and Amman, Jordan. Soon the firm—which also recently designed the London headquarters of Bloomberg LP—will add Mexico City to its list of air terminals. That hub, conceived in partnership with the Mexican architect Fernando Romero, isn’t scheduled to be completed until 2020, but the renderings adorning kiosks in the existing airport show a building that resembles a spaceship. It will be a feat of engineering: The largest space under its Buckminster Fuller-esque glass ceiling spans more than 170 meters, or 558 feet.
Reached by phone in Madrid, Foster talked with Bloomberg’s James Tarmy about what separates a good airport from a bad one and, more important, what travelers can expect from the airport of the future...
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Excelsior
Atrévete a cambiar!
by Duncan Taylor
6 March 2017
Este miércoles 8 de marzo, en Reino Unido celebraremos el Día Internacional de la Mujer con la campaña (Atrévete a cambiar)
#BeBoldForChange.
Desde que este día se celebró por primera vez en 1911, el mundo ha presenciado cambios dramáticos en materia de derechos de las mujeres. Hay que reconocerlo: las mujeres compiten en condiciones cada vez más iguales en el ámbito laboral, político, social y educativo. Los mecanismos que buscan nivelar las desigualdades son cada vez más precisos y las sanciones por discriminación de género mayores.
Entonces, si tanto se ha logrado, ¿por qué todavía necesitamos un día especialmente asignado para recordar los derechos de las mujeres? Para mí la respuesta es bastante clara: aunque haya muchos avances que festejar, ni Reino Unido ni México han alcanzando una igualdad sustantiva de género.
Las mujeres de todo el mundo siguen enfrentando obstáculos diarios, construcciones sociales sobre lo que una mujer puede y debe hacer, dobles estándares, lenguajes excluyentes, sexismo cotidiano y micromachismos. Las mujeres siguen sin poder, muchas veces, alcanzar altos cargos...
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Aljazeera
Mexico expands legal help for its citizens in the US
5 March 2017
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