MEXICO CITY (AP) – Mexico’s government congratulated U.S. authorities on Friday for action against Mexican companies and individuals alleged to be involved in laundering illegal drug profits.
President Vicente Fox’s spokesman, Ruben Aguilar, told a news conference the U.S. declaration was based on investigations within the United States – implying it did not violate Mexican sovereignty.
The U.S. Treasury Department on Thursday added 30 companies and individuals to a list of alleged drug trafficking organizations. It allows U.S. authorities to seize their U.S. assets and blocks any U.S. citizen and resident from dealing with them.
“The government of Mexico congratulates the U.S. government on its action,” Aguilar said, adding that it was “the attribution, the right and the obligation” of U.S. officials to hunt down money launderers.
“That’s what we’re dealing with in joint work,” he said. “That also is going to benefit Mexico to the extent that it closes spaces for laundering money.”
It was not clear if Mexican authorities were involved in the investigations of the 30 companies and people named, though Aguilar said, “Only through close, joint collaboration between the two countries are we going to be able to defeat organized crime.”
The list names companies allegedly linked to the groups officially termed “narcotics kingpins” by the U.S. government: the Arellano Felix group of Tijuana and the Arriola Marquez Organization of Chihuahua state.
The list of companies included a cattle business, Corrales San Ignacio, that had held a beef-slaughtering contract with Chihuahua city, capital of Chihuahua state.
Source: CNN
U.S. Treasury secretary lauds Mexico for strong macroeconomic policies
U.S. Treasury Secretary John W. Snow lauded Mexico on Thursday for instituting strong macroeconomic policies, saying that under the leadership of President Vicente Fox and Mexican Treasury Secretary Francisco Gil, "the finances of Mexico have improved dramatically."
Snow also said it would not matter to Mexico's economy if Fox's conservative government were replaced by a leftist administration next year as long as the new administration continues with "good (economic) policies."
In a joint news conference with Gil, Snow commended Mexico for being an economic leader in Latin America, saying "its voice is important
U.S. firms say Mexico boycott could backfire
U.S. lobbyists lashed out Wednesday at the Mexican Nothing Gringo campaign timed for May 1 to coincide with the Day Without Immigrants boycott in the United States.
The American Chamber of Commerce in Mexico said organizers are risking a backlash and foolishly targeting some of their best allies, since U.S. corporations have actively lobbied the U.S. Congress for immigration reform.
The chambers president said Mexicans refusal to buy American on May 1 could further polarize the debate and make reform supporters seem anti-American.
Migrants and their supporters in the United States are being encouraged to skip work
Steroid crackdown results in indictments in U.S. and Mexico
Federal officials on Thursday announced the indictments of 23 people and eight Mexico-based manufacturers of anabolic steroids on federal drug trafficking and money laundering charges.
The indictments are the result of a two-year investigation, dubbed "Operation Gear Grinder," that targeted Mexican companies that prosecutors say are responsible for more than 80 percent of the performance-enhancing anabolic steroids that are illegally smuggled into the United States.
John S. Fernandes, the top Drug Enforcement Administration agent in San Diego, said the operation was the largest steroid enforcement operation in U.S. history and that it should
California drug busts soar despite Mexico crackdown
Mexican drug cartels are sending ever greater quantities of narcotics through border crossings in southern California, despite a Mexican government crackdown and a bloody feud between rival drug gangs.
U.S. Customs and Border Protection sources said late on Monday that seizures of marijuana, cocaine, heroin and amphetamines at five border crossings in the state jumped nearly 50 percent to 140,384 pounds (63,677 kg) in the nine months to June over the same period a year earlier.
The surge comes despite a clampdown on drug gangs by the Mexican government, which has sent hundreds of troops
Bush vows to make U.S.-Mexico border more secure
President Bush rekindled a debate Monday in his own party, proposing a crackdown on illegal aliens at the Mexican border while allowing some undocumented immigrants to work in the United States.
"We are going to protect the border," Bush vowed in a speech at Davis-Monthan Air Force Base in Tucson, Ariz.
In his latest effort to shore up his conservative base, Bush insisted a crackdown would also prevent terrorists from entering the country. He wants 1,000 more border patrol guards, as well as cameras and listening devices, along the border.
But much to the displeasure
Thacher Proffitt's Mexico Office Announces New Partner Luis Enrique Graham
Thacher Proffitt & Wood LLP, a 150-year- old law firm, announced today that Luis Enrique Graham has joined its Mexico City office as a Partner, effective December 5, 2005. Luis Enrique will lead the litigation and arbitration department in Mexico. This increases the total number of attorneys in the Mexico City office to 24.
"We are delighted to welcome Luis Enrique to Thacher Proffitt," said Paul Tvetenstrand, the firm's managing partner. "He is an immeasurable asset to our Firm. We're one of the fastest growing law firms in
Mexican Coke firms fined for strong-arm tactics
Mexico's competition watchdog upheld on Thursday fines totaling almost $15 million against 15 Coca-Cola (KO.N: Quote, Profile, Research) bottlers and distributors for forcing shops to sell only their soft drinks.
The distributors, many owned by Mexico-based Coca-Cola Femsa (KOF.N: Quote, Profile, Research) (KOFL.MX: Quote, Profile, Research), the world's No. 2 Coke bottler, as well as the Coca-Cola Export Corp., owned by Coca-Cola Co. (KO.N: Quote, Profile, Research), were fined about $1 million each for insisting that stores in Mexico only sell Coke brand products and not competitors' drinks.
The Federal Competition Commission said the
MEXICO CITY, Aug 18 (Reuters) - Mexico's stock exchange said on Thursday it will not replace steel maker Hylsamex when it delists and cuts the company from the IPC index next week, further narrowing the market's already reduced breadth.
Acquisitions by big foreign players in Mexico in recent years have led to a string of delistings of blue-chip firms like cement maker Apasco, Bancomer bank and other financial groups, cutting into trading volume on the country's bourse.
Hylsamex, which Argentine firm Techint is buying for $2.25 billion, will be delisted from the market as of Monday, leaving only 34 stocks in the
Mexicos Urbi sells $150 mln in 10-yr bonds
Mexican homebuilder Urbi (URBI.MX: Quote, Profile, Research) on Monday said it has placed $150 million in 10-year senior bonds in the U.S. market.
Urbi, one of Mexicos largest house construction firms, said it planned to use proceeds from the 8.5 percent, 2016 maturing bond to refinance debt and fund other corporate activities.
The bonds, offered to institutional investors in the United States and other countries, have been rated BB by Standard and Poors and Fitch ratings and BA3 by Moodys.
More: today.reuters.com
Hillary wants to build a U.S.-Mexico fence first — and shes right
Apart from a well-chosen warning about criminalizing Jesus, Sen. Hillary Clinton hasnt waded too deeply into the details of the immigration mess. Until now.
In an interview Friday, she cited specific goals that could, and hopefully will, become the heart of bipartisan legislation that might actually fix this national crisis. A fence or a wall? Shes for it.
A two-step process, where our borders are secured before the 11 million illegal immigrants already here begin to get legalized? Shes for that, too.
The sudden crackdown by Washington on employers
