New Dinosaur

RINCON COLORADO, Mexico (Reuters) - Scientists have discovered a new species of plant-eating dinosaur in Mexico whose large neck frill and three giant horns helped it attract mates and fight predators on a jungly beach 72 million years ago.

Mexico's Coahuila desert -- now rocky and cactus-filled -- was once covered by ocean where dinosaurs of all kinds thrived along the coast and hid from a giant relative of the fierce predator Tyrannosaurus rex.

Paleontologists say they have found evidence of a new species here related to the Triceratops, known to have the largest head of any animal ever to have walked the earth.

The new species is slightly smaller at around 23 feet (7 meters) than most Triceratops, but its three-foot-long (0.9 meter) horns were just as big. Holes in its neck frill would also have set it apart.

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Importance: While the archaeological study is scientifically intriguing, it has present day relevence as scientists will be using the information they uncover about these creatures' reactions to rising sea levels to predict the behaviors of current day wildlife.

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Drug Lord Arrest

Mexican police have arrested a US citizen accused of being a key figure in a major drug cartel based in the border city of Tijuana.

Gustavo Rivera Martinez was responsible for the logistics of smuggling drugs to the US and laundering the proceeds, Mexico's interior minister said.

He is wanted by the FBI and the US Drug Enforcement Agency which offered a $2m (£1m) reward for his capture.

Mr Rivera Martinez would be sent back immediately to the US, officials said.

"This individual is one of the criminals most sought after by the DEA and FBI," said Mexican Interior Secretary Juan Camilo Mourino.

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Importance: This arrest puts another dent in the Arellano Felix drug cartel. The measures taken against drug trafficking have been helpful in taking out this cartel at least; however, other cartels are gaining momentum, and the government still has a lot ahead of it before it achieves the freedom from drug crime and violence that it seeks.

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Bargaining for Lead Paint.

Mexican President Felipe Calderon said his government is in talks with China to reach a settlement over tariffs on Chinese textiles and other products currently as high as 1,000 percent.

The negotiations were disclosed by Calderon today at a gathering of textile industry executives in Mexico City.

In December, Mexico announced a plan to keep duties on Chinese textiles, toys and shoes while it reviews the imports for possible unfair trade practices. The tariffs, in place since 1993, don't meet World Trade Organization rules. Mexico said last year that it is allowed to keep the import duties while it completes the review.

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Importance: Calderon is trying to save the Mexican citizens money which is good, and he's optimistic about the talks. Now the only problem is he's bargaining for Chinese products that recently have not been on th good side of the news.

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Cow Trouble?

Mexico and the U.S. Department of Agriculture are negotiating a trade agreement that would presumably pave the way for the export of U.S. breeding stock, according to the Texas Department of Agriculture.

The announcement comes on the heels of a trade agreement last week that includes breeding stock between Mexico and Canada.

The action prompted Texas Agriculture Commissioner Todd Staples to block some Canadian cattle from passing through the state's export facilities and into Mexico.

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Importance: The U.S. seems to think that they have the right to sell Mexico cattle. The last paragraph is pretty funny because Staples says he believes in free trade, but it must also be fair trade. It's people like Mr. Staples who want to have "free" trade, but only if he benifits that keeps the world of socialism turning.

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GDP Increase?

March 11 (Bloomberg) -- Mexican President Felipe Calderon said changes to the methods used to calculate economic growth will be ``beneficial'' and ``probably surprise'' analysts.

Mexico's economy may reach $1 trillion, narrowing the gap with Brazil, Latin America's biggest economy, because of a change in the way output is calculated, according to Citigroup Inc.'s Banamex unit and UBS Pactual. The statistics agency may announce the changes as soon as this month.

The revised GDP figures may show that last decade's efforts to sell state-owned businesses, sign free-trade accords and facilitate financing in the local market for private companies provided a greater spark to growth than prior numbers had indicated, said Alfredo Thorne, head of Latin America research for JPMorgan Chase & Co. in Mexico City.

``This will start a lot of debate and comparison with other countries in the region,'' said Sergio Luna Martinez, director of economic research at Citigroup Inc.'s Banamex unit in Mexico City.

Under the changes, economic growth will be based on the composition of the economy in 2003, instead of 1993, Calderon said. Industries such as telecommunications will probably be given greater weight, while the agriculture industry will be pared back, Thorne said.

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Importance: So Mexico's GDP has increased...or at least it has on paper, as the only change that has been made is the way their are calculating the statistic. Nevertheless, economic growth is always good and other sources indicate that production and exports are doing well this month in Mexico.

Assessment Complete

Mexico U-23 soccer team ice cold in Frisco

With Olympic qualifying on the horizon, Mexico's under-23 team closed the warm-up portion by sticking to a peculiar, chilling trend: not scoring.

Mexico played Finland to a scoreless draw Thursday in front of a crowd of 11,780 at Pizza Hut Park. It was Mexico's fifth and final match before beginning CONCACAF Olympic qualifying next week.

Mexico, which scored two goals in its first match against Chile on Feb. 19, failed to score on offense for the fourth consecutive game under coach Hugo Sanchez.
Only hours before the game, the Pizza Hut Park pitch was buried by about four inches of snow. Despite the frigid conditions, Mexico showed promise on offense and a solid passing game while setting up shots at Finland's midfield.

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Importance: coming soon...

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Mexico's new justice

The Mexican Congress has approved an overhaul of the country's judicial system, which is so rife with corruption, caprice and ineptitude that many doubted such a day would ever come. The reforms require a constitutional amendment to take effect, meaning they must be ratified by 17 of Mexico's 31 states. If the overwhelming support of legislators is an indicator, they should pass with ease.

Under the current system, based on Roman and Napoleonic codes, lawyers submit their cases in writing, and judges come to their decisions in secret. Under the new system, defendants would be granted the presumption of innocence, trials would be open to the public and lawyers would present oral arguments, among other welcome changes. Another provision, however, would permit organized crime suspects to be held for up to 80 days without being charged. This is particularly worrisome because Mexico's definition of organized crime is an illegal undertaking by three or more people. And trials for such suspects would still be conducted in secret. The potential for abuses and for a two-tiered justice system to emerge is enormous.

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Importance: This is a major change in the judicial system in Mexico. The proposition would move Mexico away from the Napoleonic code and towards a system much like the U.S. Defendants would be innocent until proven guilty and trials would be completely open to the public. However, it would be possible for someone to be detained for 80 days without charge. The amendment is most likely going to happen. The senate has already approved.

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Mexico Cuts Taxes

President Felipe Calderón announced a 60-billion-peso ($5.6 billion) package of tax breaks, utility-rates discounts and spending programs Monday to help Mexico's economy weather the slowdown in the U.S. economy.

Companies will get a 3 percent income tax break for the next five months and 10- to 20-percent electricity rate reductions, as well as credit from development banks and an increase in infrastructure spending to help them overcome the effects of what Calderón called “an adverse international environment.”

“Since last year, the economic performance of our principal trading partner (the United States) has show signs of deceleration,” Calderón said at a ceremony to announce the package. “The problems in its financial sector and housing market make its prospects for growth in 2008 not very encouraging.”

Importance: Mexico is basing itself off the U.S. which probably is not a good call, but no one can argue tax cuts. The Mexican citizens do need this.

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Oil Stays with the Government

Mexican President Felipe Calderon's plan to overhaul energy laws and allow private investment in the state oil monopoly lacks political support, a prominent opposition senator said.

Senator Francisco Labastida of the Institutional Revolutionary Party, an opposition group, said ``there's no chance'' that ``comprehensive reform'' will pass. He spoke in an interview today at the senate building in Mexico City.

Failure to open the oil industry may mark the biggest political defeat yet for Calderon, who managed to win support for cutting pensions and raising taxes since taking office in December 2006. Mexico, the third-largest oil supplier to the U.S., needs the help of foreign and private companies to halt a decline in crude output and reserves, Calderon has said.

Importance: Calderon has been getting a lot of what he wants recently, so it is nice to see him stopped in certain areas even if stopping him is keeping the socialist mark upon Mexico.

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Hi Ho, Hi Ho it's Off to Work We Go

They are hardly the conquistadors that tapped open gold veins centuries ago, but the world's miners have once again descended upon Mexico in search of new sources of precious metals.

Drawn not only by rich gold and silver deposits, but also a stable and easy-to-navigate regulatory regime, the rush to Mexico by foreign mining firms pushed the total value of the country's mining production to a record $7.2-billion (U.S.) last year.

Compare that to just five years ago, when the value of production totalled just $2.3-billion.

Importance: Mexico is getting a lot of commerce from these miners. How long will this last? Where will all this extra cash go? We will see...

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Oil Ad

Mexican President Felipe Calderon is using national television ads to overcome opposition to his plan to open the state oil monopoly to foreign investment, saying the nation needs outside help to get to crude in deep waters.

Forty-six percent of Mexicans polled by Reforma newspaper this week said they opposed Calderon's initiative, which the government says is the only way Mexico can halt a decline in oil output and reserves.

``Mexico has a great treasure, a treasure buried deep under the sea,'' a narrator says in the ad, which began to air last night. ``We need to get to it.''

Petroleos Mexicanos, the state oil company, lacks money and the technology to explore in waters deeper than 5,000 meters, where most Mexican deposits are, according to a government study.

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Importance: Televised persuasion...sounds like propaganda in action to me...but perhaps I am too harsh. All told, it is an interesting tactic to win support for the President's directive; as for its effectiveness, that's open for debate. The ad seems to have created more questions than helped to bulster confidence in the people. Regardless, the fact that Pemex is in need of some turn around legislation is evident.

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The following events may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous session.

Chile: The government announced temporary tax cuts yesterday to stimulate the economy as drought and high energy prices threaten to slow growth and stoke inflation.

Colombia: Fitch Ratings affirmed its outlook on Colombia's debt yesterday at BB+, the highest non-investment grade, with a stable outlook.

Mexico: President Felipe Calderon announced an economic stimulus package yesterday worth 60 billion pesos ($5.6 billion) to help protect the nation from a slowdown in the U.S., its biggest trading partner.

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Importance: Latin America tries to prepare for economic stability. Mexico's peso rises slightly against the dollar. I suppose things could be worse...

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Assessment Complete

Nahuatl Revived

MEXICO CITY – Mexico City mayor Marcelo Ebrard wants all city employees, from hospital workers to bus drivers, to learn the Aztec language Nahuatl in an effort to revive the ancient tongue, the city government said Friday.

Leftist Ebrard, seen as a possible presidential candidate in 2012, presented his government's development plan this week translated for the first time into Nahuatl.

“This publication is not just a symbolic act, it is the first step to institutionalizing the use of Nahuatl in the government,” his office said a statement.

The next step will be offering Nahuatl classes to city government officials, including the mayor and his cabinet, and distributing booklets about indigenous culture to 300,000 public servants, said Rosa Marquez who runs the program.

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Importance: This press for learning the Aztec language is an interesting step for minority rights. Recently Mexico has been hit by a lot of bad press concerning its emphasis, or lack thereof, on human rights. Perhaps this is the first sign of a reversal of this trend.

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