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Nayarit authorities reclaim US $2.7B in stolen beachfront land

By
MND Staff
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Aerial view of lo de marcos, nayarit, mexico, showcasing the stunning coastline, crystal-clear turquoise waters, sandy beach, and lush green vegetation
All told, just over 9.6 million square meters of land on the Riviera Nayarit coast was recovered, according to the Federal Attorney General's Office (FGR) and the Nayarit Attorney General's Office. (Shutterstock)

Authorities announced on Tuesday that more than 9 million square meters of beachfront land in Nayarit has been recovered, years after it was illegally appropriated from the state and sold.

All told, just over 9.6 million square meters of land on the Riviera Nayarit coast was recovered, according to the Federal Attorney General’s Office (FGR) and the Nayarit Attorney General’s Office.

Nayarit Attorney General Petronilo Ponce
At a press conference on Tuesday, Nayarit Attorney General Petronilo Ponce Arellano said that 359 bank accounts connected with the illicit land appropriation scheme had been seized. (Rogelio Morales/Cuartoscuro)

The land — in locations including Nuevo Nayarit, Bucerías and Sayulita — was wrongfully taken from the state of Nayarit and sold off during the governorships of Ney González Sánchez (2005-2011) and Roberto Sandoval Castañeda (2011-2017), according to officials. The two ex-governors, and other former officials, are accused of benefiting from the sale of the land.

Nayarit Governor Miguel Ángel Navarro Quintero told a press conference on Tuesday that 93% of the land that was illegally privatized during the governorships of González and Sandoval has now been recovered. He said that the land was taken from the state via simulated legal procedures.

Navarro said that the estimated value of the recovered land is 50 billion pesos (US $2.7 billion). If all the land was completely cleared of vegetation and connected to public services, its value would be 100 billion pesos or more, he said.

The land was recovered during the so-called “Nuevo Nayarit Mega Operation,” which commenced in February 2022.

A ‘carefully planned’ scheme 

Nayarit Attorney General Petronilo Ponce Arellano said that ex-governors González and Sandoval — both of whom represented the Institutional Revolutionary Party (PRI) — as well as other former federal and state officials, and private citizens and companies, took part in an illicit scheme that involved appropriating land owned by the state.

Sandoval is already in prison, while González is a fugitive from justice. The former was sentenced to seven years in prison in September after he was found guilty of falsifying documents and appropriating a 58-hectare property in the coastal municipality of San Blas, Nayarit. Sandoval’s stay in prison could be extended if he is found guilty of additional land-related dealings from which he illegally benefited.

Former governor of Nayarit Ney González Sánchez
Former governor of Nayarit Ney González Sánchez, seen here in 2010, is a fugitive from justice. (Rodolfo Angulo/Cuartoscuro)

An Interpol Red Notice has been issued for González’s arrest. His whereabouts is unknown, although some reports have stated that he fled to Israel.

In addition to recovering more than 9 million square meters of coastal land during the Nuevo Nayarit Mega Operation, Ponce said that 359 bank accounts connected with the illicit land appropriation scheme have been seized.

The seized accounts held just over 7.2 billion pesos (US $393.5 million) and belonged to 45 people and 82 companies, he said.

Ponce also said that authorities obtained search warrants that allowed them to carry out raids at various public notary’s offices allegedly linked to the illicit land appropriation scheme.

During the raids, “alterations in registry books and official documents” were detected, he said. Ponce said that the alterations confirmed “the existence of a carefully planned scheme to simulate legal acts and strip the state of assets of great value.”

Gabriel Camarena Morales, a legal advisor for the Nayarit government, said that 90% of the people involved in the appropriation and illicit sale of public land have signed compensation agreements and thus avoided criminal charges.

Investigations are ongoing 

Cristina Reséndiz Durruti, a prosecutor with the FGR, said that investigations into the land appropriation scheme are ongoing. She said that family members of González and Sandoval and companies linked to the two men are under investigation.

Reséndiz noted that warrants have been issued for the arrest of González on various charges, including embezzlement, document forgery and influence peddling.

Ponce said that the investigations date back to February 2022, when the Nayarit Attorney General’s Office received a complaint against the two ex-governors and other former officials. The complaint was filed by the trustees of the Fideicomiso de Bahía de Banderas (Fibba), a government trust that manages public land in the municipality of Bahía de Banderas, which adjoins Puerto Vallarta, Jalisco.

González and Sandoval are among a large group of former governors of Mexican states who have been accused of — and in various cases convicted of — corruption. They include Javier Duarte of Veracruz, Roberto Borge of Quintana Roo and César Duarte of Chihuahua.

With reports from El Universal, La Jornada and Milenio

Intense solar storm brings rare northern lights to Mexican skies

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MND Staff
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UNAM photo of northern lights
The rare sight as far south as Mexico was the result of a solar storm that sent particles into the Earth's atmosphere. (UNAM/X)

Residents of the northern state of Nuevo León witnessed an exceptional sighting of the aurora borealis on Tuesday, the result of an intense solar storm. 

The Astronomical Society of Nuevo León confirmed the unusual event, explaining that it was the result of intense solar activity monitored in the preceding days and that they would “be on the lookout for the possibility of it happening again on Wednesday.”

The storm was most visible in the municipality of García, where residents were able to appreciate reddish, greenish and purple lights in the sky thanks to the town’s low levels of light pollution.

Images of the event quickly went viral on social media, along with messages of amazement from those who witnessed it.

According to reports from the National Meteorological Service (SMN) and astronomical observatories, geomagnetic activity this week reached high levels due to a G4 solar storm, one of the most intense in recent years. These conditions made the phenomenon visible in various parts of the Northern Hemisphere, including northern Mexican states such as Chihuahua, and Coahuila, besides Nuevo León.

The spectacle was also visible in the United States, including Oklahoma, Washington State, Tennessee, Iowa, Idaho and South Dakota. 

Experts explained that the Northern Lights are produced by the interaction of charged particles from the sun with the Earth’s magnetic field. Although this phenomenon is usually visible in regions near the poles, such as Canada or Norway, during periods of high solar activity it can extend to lower latitudes, as happened on this occasion.

While extremely rare in Mexico, this is not the first time that northern lights have been spotted in our country. 

In 1789, residents of Mexico City and other areas such as Guanajuato, Veracruz, San Luis Potosí, Puebla, Guadalajara, Zacatecas and Oaxaca reported seeing the aurora borealis. The phenomenon caused astonishment and even fear, as it was not well understood at the time.

Similar sightings happened again in 1859, during the famous solar storm known as the Carrington Event, and again in 2024, when a very intense geomagnetic storm formed auroras borealis in the skies of Michoacán, Querétaro and Mexico City.

With reports from NMás and Vanguardia

Industrial activity in Mexico is down nearly 2% this year

By
MND Staff
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The construction sector recorded the largest declines in both month-over-month and annual terms in September. (Victoria Valtierra/Cuartoscuro)

A decline in industrial activity in Mexico that began months ago continued in September, according to official data.

The national statistics agency INEGI reported on Tuesday that industrial activity declined 0.4% in September compared to August and 3.3% in annual seasonally-adjusted terms.

It was the fourth consecutive month-over-month decline and the seventh consecutive downturn in annual terms. In month-over-month terms, industrial activity has only increased in two months this year: February (3%) and May (0.5%).

INEGI’s industrial activity data measures the output of Mexico’s manufacturing, mining, construction and electricity/water/gas sectors.

The construction sector recorded the largest declines in both month-over-month and annual terms in September. Activity in that sector declined 2.5% in September compared to August and 7.2% compared to the same month of 2024.

Activity in the manufacturing sector — which is easily the largest contributor to Mexico’s overall industrial output — increased 0.2% in September compared to August, but declined 2.3% in annual terms. The year-over-year decline was the largest in more than five years.

Activity in the mining sector increased 0.7% in September compared to August, but declined 3.2% in annual terms.

Activity in the combined electricity, water and gas sector increased 0.4% in September compared to the previous month, but declined 0.2% annually.

Industrial activity declined 1.8% in the first 9 months of 2025 

INEGI also reported that industrial activity in Mexico declined 1.8% in the first nine months of the year compared to the same period of 2024. It was the first decline in the January-September period since 2020, when the COVID pandemic and associated restrictions ravaged the Mexican economy, including its industrial sectors.

Mexico Industrial Production

Source: tradingeconomics.com

If the 11.4% decline in industrial activity in the first nine months of 2020 is excluded, the downturn between January and September of 2025 is the worst result since 2009.

In the first nine months of 2025, activity in the mining sector fell 8.4% annually, while the construction sector recorded a 2.7% downturn. Within the construction sector, activity related to civil engineering projects declined 26.7% compared to the first nine months of 2024. The significant decline is closely related to a reduction in government spending on infrastructure projects.

Activity in the combined electricity, water and gas sector declined 1.1% annually between January and September, while the manufacturing sector recorded a 0.5% downturn.

Within the manufacturing sector, activity related to the production of “transport equipment,” including vehicles, declined 4.9% annually in the first nine months of the year.

Since early April, light vehicles made in Mexico have faced a tariff when exported to the United States. The U.S. imposed a tariff on medium- and heavy-duty trucks this month, but U.S. content in such vehicles made in Mexico is exempt from the duty, as is the case with U.S. content in light vehicles.

A slowing economy 

The 1.8% year-over-year decline in industrial activity between January and September coincides with a broader economic slowdown in Mexico. The economy grew just 0.5% annually in the first nine months of the year, according to an estimate based on official data from Gabriela Siller, director of economic analysis at Banco Base.

Mexico’s economy shrinks 0.3% in Q3 as manufacturing industry weighs on growth

With regard to the outlook for industrial activity in Mexico, and economic activity more broadly, “the balance of risks remains tilted to the upside,” according to economists with the Monex financial group.

In a report, Janneth Quiroz and Rosa Rubio cited “the lack of sustained momentum in the industrial sector, the low levels of productive investment (machinery and equipment), and primarily trade tensions with the United States” among the factors that “could limit economic growth” in late 2025.

With reports from Milenio and El Economista

Did Mexico grant FIFA a full tax break for the World Cup?

By
MND Staff
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A giant 2026 World Cup ball was installed at the Terminal 2 entrance of the Mexico City International Airport (AICM) this week.
A giant 2026 World Cup ball welcomes travelers arriving at the Terminal 2 entrance of the Mexico City International Airport (AICM). (Andrea Murcia/Cuartoscuro)

Alone among the three co-hosts of the 2026 World Cup, Mexico has granted soccer’s global governing body FIFA a full tax exemption for the 40-day tournament involving 48 national teams. 

The U.S. and Canada, the other co-hosts, only agreed to specified tax benefits at the national, state and local levels.

Still nearly seven months out from the inaugural match, which will be held in Mexico City’s Estadio Azteca on June 11, the concession has caused consternation.

As a result of the agreement confirmed by Mexico’s Finance Ministry (SHCP) on Monday, FIFA and any companies it designates will be exempted from paying taxes during the 2026 World Cup matches held in Mexico City, Monterrey and Guadalajara. 

The stipulation has its origin in FIFA’s 2026 Revenue Law, which features transitional articles declaring that companies “participating in the organization, development and execution of activities related” to the tournament are exempt from paying taxes.

The SHCP’s proposal “releases all individuals and legal entities” covered by the Revenue Law from tax and administrative burdens.

The loss of potential tax revenue has caused a mild fuss in some corners, but politicians and tax experts have defended the accord as a good business decision.

The criticism comes from the fact that World Cup tourists buying merchandise, drinks or anything else from FIFA partner brands will not be contributing to Mexico’s tax revenues.

Sheinbaum emphasized this week that FIFA’s fiscal privileges will apply only to the activities essential for the organization and celebration of the event. (Daniel Augusto/Cuartoscuro)

Additionally, host countries typically suffer a financial deficit since they spend more money — investing billions in infrastructure, stadiums and preparation — than they earn, because the direct profits from ticket and marketing rights go to FIFA.

However, Mexican President Claudia Sheinbaum has brushed aside the negative comments, pointing out that her government has worked with FIFA to limit the terms of the 10-year deal that was signed in 2018 during the Enrique Peña Nieto administration. 

Sheinbaum said talks with FIFA have sought to avoid a disproportionate fiscal impact and ensure that the benefits are applied only to the activities essential for the organization and celebration of the event.

“The talks with FIFA aim to establish clear limits on the tax benefits originally agreed upon, ensuring that these are applied responsibly and under the direct supervision of the Mexican State,” an SHCP official told ESPN.

Whereas Canada granted customs and tax benefits primarily on the importation of goods and the U.S. forced FIFA to negotiate with each of the 11 venues to obtain tax benefits, Mexico was at a comparative disadvantage, tax attorney Miguel Ángel Rosas told ESPN. 

Rosas cited Mexico’s lack of modern infrastructure, saying: “The best way for Mexico to respond in order to host these types of events is to offer tax incentives.” 

This approach could benefit Mexico over time, he said, because “this could open doors for other international events to take notice.” 

Deputy Claudia Anaya concurred, saying that “connectivity between cities, highway infrastructure, logistics and maintenance of stadiums, airports, all of that” gives Canada and the U.S. a distinct advantage.

“So, yes, sometimes the one who has the least must offer the most in order to [participate],” she said. 

In the end, the original agreement — which the SHCP insists will not compromise tax collection or fiscal equity between national and foreign taxpayers — resulted in Mexico being granted the right to host 13 games instead of 10.

It is estimated that 1.5 million people will visit Mexico during the World Cup, with a projected economic impact of approximately US $3 billion.

With reports from ESPN, El País, Debate and El Economista

MND Local: San Miguel de Allende news roundup

By
Cathy Siegner
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Police offers dressed as catrinas in San Miguel de Allende
Recent Day of the Dead celebrations saw the whole of San Miguel de Allende come together. What else has been happening in town? (Cathy Siegner)

Before jumping into some recent news developments around the city, a brief pause is in order to reflect on the recent impressive observation of Día de Muertos here in the city. San Miguel was full of bright cempasúchil (marigold) flowers, creative face-painting, colorful ofrendas and excited visitors.

City officials noted that the Jardín and other public spaces had been planted with marigolds, and that municipal cemeteries (except for San Juan de Dios, which is closed for conservation work) had been cleaned, painted, pruned and prepared for families to visit and decorate the graves of their departed loved ones.

Capping the weekend of celebration was Sunday night’s parade along a jam-packed route from El Cardo to the Jardin via Zacateros. Catrinas and catrines of all ages and descriptions were on hand, along with decorated horses, marching bands and even police officers with painted faces. It would be hard to imagine a more festive and well-attended event.

A long-awaited hotel opening

(Cathy Siegner)

After eight years of construction, the Marriott Cleviá hotel/residences near Luna de Queso on Josefina Orozco finally opened more of its doors in September after a limited soft opening in April. So far, 30% of the 74 total rooms are available, and 42 residences behind them are expected to be ready later on.

There is currently one restaurant and bar, a pool, meeting and event space and other amenities. Plans call for an additional restaurant to be added. The lobby is quite large and shows numerous designer touches, and it overlooks the bar and restaurant, courtyard pool and the building behind that where the residences are located.

According to an employee, the project had two separate owners during the long construction period, which considerably delayed development. The current owners are a Mexico-based group operating under a licensing arrangement with Marriott’s Cleviá Autograph Collection, which has certain guidelines about what must be offered on-site.

Rates range from around US $250 per night, using points through Marriott’s Bonvoy membership program, to $1,000 per night if the stay is during holidays and special occasions, such as Día de Muertos.

Reviews so far on the Marriott site are limited but nearly all positive about the design, layout, staff and food, although one called it a poor value and another noted potential once a few kinks are worked out.

Hotels are plentiful in San Miguel, but major projects keep coming. A very visible case in point is the Waldorf Astoria on El Cardo, which has pushed back its opening from spring of this year to sometime in 2027. It plans to offer 120 rooms and 24 residences and is being developed by Mexico City-based Skyplus Developments Corp.

Is a downtown restaurant closing?

(Cathy Siegner)

The popular Italian restaurant Vivali on Hernández Macías across from Bellas Artes has been closed for about a month for no ascertainable reason. There’s a padlock on the door, and someone at a nearby restaurant said she had no idea what’s going on. Nothing about a closure is posted on the door or the Facebook page, and the phone wasn’t being answered.

Since Vivali seemed to have a devoted and diverse clientele (and often live music), the situation has prompted questions. Speculation centers on lack of business, permit problems and/or the catch-all scapegoat of politics.

Whatever the case in this particular instance, restaurants come and go here all the time, while some simply relocate or decide to switch to only catering. Chances are Vivali is simply the latest in a line of ongoing business adjustments, but Mexico News Daily will update the situation if it changes.

National protest delays local bus

(Mexico Travel)

Readers may have seen the recent MND story about farmers setting up roadblocks in Guanajuato and other states and demanding government price supports and subsidies to augment inadequate market prices for their corn. Inflation, drought, extortion and violence have added to the tenuous situation.

While that’s a national story, there were localized impacts involving transportation disruptions and other inconveniences. At least one bus from San Miguel to Guanajuato never arrived in the state’s capital on Oct. 27 — the first day of the roadblocks — because it was said to be “stuck” on the highway in between. 

Finally, after the afternoon wore on with no explanation to those waiting, the company borrowed another bus from a different company, and passengers were able to depart for San Miguel about an hour-and-a-half later than scheduled. It was a small reminder that no locality is completely exempt from what happens on the national stage.

Cathy Siegner is an independent journalist based in San Miguel and Montana. She has journalism degrees from the University of Oregon and Northwestern University.

Homicides down 28% in 2025: Tuesday’s mañanera recapped

By
MND Staff
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Sheinbaum mañanera Nov. 11, 2025
Sheinbaum has attributed the decline in homicides during her presidency to the federal government's security strategy. (Victoria Valtierra/Cuartoscuro)

Security was a central focus of President Claudia Sheinbaum’s Tuesday morning press conference.

Security officials presented the latest data on homicides, arrests, firearm seizures and drug confiscations across Mexico.

Later in the press conference, Sheinbaum spoke about her personal security arrangements, a week after she was inappropriately touched by a man in the historic center of Mexico City.

Homicides down almost 28% in 2025 

Marcela Figueroa Franco, head of the National Public Security System, presented preliminary data that showed there was an average of 66.1 homicides per day in Mexico during the first ten months of the year.

The figure represents a decline of 27.9% compared to the daily average in 2024.

Figueroa highlighted that the decline in homicides compared to 2018 — when former president Enrique Peña Nieto was in office for the first 11 months of the year — was 34%.

32 fewer murders per day in October than in the final month of AMLO’s presidency

At the start of her presentation, Figueroa reported that the average daily homicide rate in October was 37% lower than the average rate in September 2024, the final month of Andres Manuel López Obrador’s presidency.

There was an average of 54.5 homicides per day last month, according to preliminary data, whereas the daily average was 86.9 in September 2024.

“In October 2025, 32 fewer homicides were recorded per day than in September 2024,” Figueroa said.

Sheinbaum has attributed the decline in homicides during her presidency to the federal government’s security strategy, based on four key tenets, including the strengthening of intelligence and investigative practices and the enhancement of coordination between the different levels of government.

1 in 9 murders in Mexico this year was committed in Guanajuato 

Figueroa presented data that showed there were 20,096 homicides across Mexico in the first 10 months of the year.

Just over half of those murders — 10,265 or 51% of the total — occurred in just seven states:

  1. Guanajuato: 2,229 murders were committed in the Bajío region state between January and October. The figure accounts for 11.1% of all homicides in the period. Guanajuato has led Mexico in homicides in recent years. A number of organized crime groups operate in the state, including the Santa Rosa de Lima Cartel and its main rival, the Jalisco New Generation Cartel.
  2. Chihuahua: 1,527 homicides, accounting for 7.6% of the total between January and October. The northern border state’s largest city, Ciudad Juárez, is among Mexico’s 50 most violent municipalities.
  3. Baja California: 1,465 homicides, accounting for 7.3% of the total. This state’s largest city, Tijuana, is also among Mexico’s 50 most violent municipalities.
  4. Sinaloa: 1,432 homicides, accounting for 7.1% of the total. Rival factions of the Sinaloa Cartel have been engaged in a bloody war in the state for over a year.
  5. México state: 1,328 homicides, accounting for 6.6% of the total.
  6. Guerrero: 1,152 homicides, accounting for 5.7% of the total.
  7. Michoacán: 1,132 homicides, accounting for 5.6% of the total. The federal government on Sunday presented “Plan Michoacán for Peace and Justice,” a 57-billion-peso (US $3.1 billion) initiative that the government devised in response to the murder of the mayor of Uruapan on Nov. 1 and general insecurity in the state.
protest Morelia
Morelia was the site of a large protest last week demanding an end to the violence in Michoacán and accusing the state and federal governments of not protecting Carlos Manzo, the slain mayor of Uruapan. (Castro/ACG/Cuartoscuro)

Murders have declined in 26 of 32 states 

Figueroa also reported that homicides declined in 26 of Mexico’s 32 federal entities between January and October compared to the same period of last year.

Zacatecas recorded the largest decrease, with murders declining 70.5%.

Three other states recorded year-over-year reductions above 50%. They were:

  • Chiapas: -58.7%
  • Quintana Roo: -57.3%
  • Nuevo León: -56.3%.

Among the other states that recorded a decline in homicides between January and October were the two most violent ones. Murders fell 13.9% in Guanajuato and 10.7% in Chihuahua.

The six federal entities where homicides increased in annual terms in the first 10 months of the year were Sinaloa, Campeche, Veracruz, Baja California Sur, Hidalgo and Nayarit.

37,000 arrests in 13 months

Federal Security Minister Omar García Harfuch reported that 2,300 people were arrested in October for allegedly committing high-impact crimes, such as murder, kidnapping and extortion.

Since the current government took office on Oct. 1, 2024, a total of 37,000 people have been arrested for allegedly committing such crimes, he said.

The security minister didn’t say how many of those people have faced trial and been convicted of the crimes they allegedly committed. It is common for suspects in Mexico to remain in prison for extended periods of time before facing trial.

García Harfuch also reported that authorities have seized almost 300 tonnes of drugs over the past 13 months, including more than 4 million fentanyl pills, which are manufactured by Mexican crime groups with precursor chemicals illegally imported from China.

He said that 18,981 firearms were confiscated in the same period, and 614 methamphetamine laboratories were dismantled by the army and navy.

García Harfuch said that the arrests and seizures of drugs and weapons “have had a direct impact on the reduction of the crime rate, which is reflected in a 37% decrease in the daily homicide average between September 2024 and October 2025.”

Sheinbaum: ‘Nothing is going to happen to me’

A reporter noted that Sheinbaum was sexually harassed last week — three days after the mayor of Uruapan was killed — and subsequently asked the president what role the army and the federal Security Minister play in ensuring her safety.

Sheinbaum mañanera Nov. 11, 2025
When questioned about vulnerabilities in her security team’s preparedness, Sheinbaum downplayed any threats to her safety. (Victoria Valtierra/Cuartoscuro)

“The team that accompanies me is not from the Security Cabinet,” Sheinbaum said, referring to a group of federal officials that includes her defense, navy, security and interior ministers.

“It’s a team from Ayudantía,” she said, referring to a group of presidential aides.

“When I leave Mexico City, I travel in a vehicle that doesn’t belong to the Security Cabinet, but rather to the president’s team. And sometimes a National Guard vehicle accompanies [me] at a distance, protecting us,” Sheinbaum said. “This is the protocol we follow.”

After the reporter put it to the president that the members of the Ayudantía don’t have security experience, Sheinbaum responded:

“Nothing is going to happen to me, nothing is going to happen to me. And we made a decision to be close to the people. If there are situations of risk, [there is] an alert … [from the] National Intelligence Center, which says: ‘The president may be at risk.’ … Then we protect ourselves a little more. That is … [the protocol] we follow.”

The president added:

“I always accept the recommendations from the security minister, the defense minister, the navy minister. Sometimes they ask me to have more security, but we don’t believe it’s necessary. Now, if there is an alert from the National Intelligence Center, if they have any concern, they obviously tell me and we seek greater protection or we don’t go to that place [where the risk has been identified]. … In other words, I’m attentive [to the warnings I receive]. There is no irresponsibility in this.”

By Mexico News Daily chief staff writer Peter Davies (peter.davies@mexiconewsdaily.com)

Ratings firm S&P launches methodology tailored to Mexican market

By
MND Staff
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S and P Global Ratings displayed on mobile device
The new methodology is expected to boost transparency and make it clearer for issuers, structurers, agents and advisers to understand the main factors used to establish each evaluation. (Shutterstock)

The S&P ratings firm announced Monday that it will be fully implementing its national scale rating methodology in Mexico by basing how it assigns creditworthiness mostly on factors within the country. 

While S&P has been assigning ratings in Mexico for over 30 years, the adoption of new tools will help improve its ratings by gathering a more accurate understanding of the current conditions of the unique Mexican credit environment.  

“What we are doing is launching methodologies adapted to the reality of the national market,” S&P Global Ratings for Latin America’s commercial leader, María Pérez Cavallazzi, said in an interview.

 “The goal is to open opportunities for new companies to obtain ratings and, thereby, strengthen the country’s competitiveness.” 

The new approach will use localized criteria, including national regulations and the specific dynamics of the Mexican market. It is expected to boost transparency and make it clearer for issuers, structurers, agents and advisers to understand the main factors used to establish each evaluation.  

Using the name S&P National Ratings, the company’s strategy for Latin America — which includes Mexico, Brazil, Argentina and Uruguay — is to establish independent criteria for each country, which will help reduce dependence on global factors that do not necessarily reflect the reality of the domestic market. 

Research will be conducted by local analytical teams with a high understanding of each country’s economic context. 

 “This allows us to more accurately reflect the conditions in Mexico and adapt to changes without compromising the highest international standards,” Pérez said. 

An important feature of the national scale rating methodology is that its findings are not transferable. What is a factor in Argentina is not necessarily a factor in Mexico, and vice versa.

Mexico keeps BBB and BBB+ ratings

On Sept. 8, S&P Global Ratings announced it would be maintaining its “BBB” long-term foreign currency and “BBB+” long-term local currency sovereign credit ratings on Mexico, stating that the outlook remains stable. 

S&P expects Mexico’s public finances to stabilize this year despite low economic growth, following several years of prudent monetary policy and growing domestic capital markets. 

The Sheinbaum administration is expected to be pragmatic as it manages disputes between Mexico and the United States on trade, immigration and other matters to sustain economic stability, said S&P. 

The firm said that under the downside scenario, failure to reduce fiscal deficits fast enough, weaker public finances, and the risk of further extraordinary support to the state-owned oil company Petroleos Mexicanos and the Federal Electricity Commission could lead to a downgrade in the next two years.

Under the upside scenario, S&P could raise Mexico’s rating if effective political and economic management increases investment and raises Mexico’s low rate of per capita economic growth. 

With reports from El Financiero

Tec de Monterrey joins prominent Spanish universities to create binational eye health center

By
MND Staff
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tec de monterrey campus building
Through its TecSalud health system, Tec de Monterrey (officially the Monterrey Institute of Technology and Higher Education) will be working with the University of Oviedo in Oviedo, Spain, and the Fernández-Vega University Institute (IUFV). (Tec de Monterrey)

Tec de Monterrey, one of Mexico’s top universities, has joined forces with two prominent Spanish academic institutions to create a binational medical center focused on ophthalmology research and eye health in both countries.

Through its TecSalud health system, Tec de Monterrey (officially the Monterrey Institute of Technology and Higher Education) will be working with the University of Oviedo in Oviedo, Spain, and the Fernández-Vega University Institute (IUFV), a universally admired center of ophthalmological research, teaching and treatment, also in Oviedo, where the center’s operations will take place.

Zambrano Hellion Hospital
The Zambrano Hellion Hospital is part of Tec de Monterrey’s extensive TecSalud system that represents the university in the new Spain-Mexico ophthalmology project. (Tec de Monterrey)

The center was promoted by José Antonio Fernández Carbajal, executive chairman and CEO of FEMSA, Mexico’s (and Latin America’s) largest bottler.

“The support of José Antonio Fernández Carbajal and his wife, Eva Garza, reflects their firm commitment to science, research and their Asturian roots,” the head of the Fernández-Vega University Institute, Professor Luis Fernández-Vega, said. 

According to the agreement, the center will develop high-impact international projects in ophthalmology and related areas of the health sciences. Furthermore, it lays the groundwork for collaboration in the areas of medical training, biomedical research and knowledge transfer between the two countries.

“We want the medical innovation and research center to be an institution of excellence in knowledge, in the generation of new ideas which translate into an improvement in visual health and in the quality of life of thousands of people in Spain and Mexico,” Fernández said. 

Under the motto “where research becomes health,” the new collaborative project will be developed along three main lines: academic exchange, joint research and entrepreneurship acceleration.

The first will promote scholarship and training programs for students and healthcare professionals in Mexico and Spain, in collaboration with the University of Oviedo. The second will foster joint research projects. The third, the Business Accelerator Project, will promote and consolidate science and technology-based companies.

signers of Tec de Monterrey-Oliedo accord
David Garza (far left), executive president of Tec de Monterrey, José Antonio Fernández Carbajal (second from left), CEO of FEMSA, and Ricardo Saldívar (second from right), board president of Tec de Monterrey, help display the recently forged binational agreement to improve the eye health of the people of Mexico and Spain. (Instituto Oftalmológico Fernández-Vega)

The Fernández-Vega Ophthalmological Institute was founded in 1886 and treats 100,000 patients annually for eye problems. It is dedicated to teaching ophthalmology and vision sciences, offering various postgraduate programs.

Meanwhile, TecSalud focuses on medical care, research, innovation and health education in Mexico. Founded in 1969, it comprises the School of Medicine and Health Sciences, the TecSalud Foundation and the San José and Zambrano Hellion hospitals, as well as specialty institutes and affiliated centers.

Mexico News Daily

Security Minister: Half of reported extortion lines are operating from prisons

By
MND Staff
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Exterior of CEFERESO 12 in Guanajuato
The security minister said that in the first quarter of 2026, the cell phone signals at 14 federal prisons and the 13 Mexico City prisons will be blocked. (Saúl López/Cuartoscuro)

Extortion attempts over the telephone commonly originate in Mexican prisons, Security Minister Omar García Harfuch noted on Tuesday.

Speaking at President Claudia Sheinbaum’s morning press conference, García Harfuch reported that 56% of the “telephone lines” that were used to make extortion attempts in recent months, and which were reported to the federal government via its 089 crime hotline, were located in 12 prisons.

Omar García Harfuch
García Harfuch also said on Tuesday that 33% of the almost 2,400 numbers known to have been used in recent extortion attempts have been “blocked.” (Victoria Valtierra/Cuartoscuro)

“To prevent this crime from being committed inside prisons and to protect citizens, joint intelligence actions, signal blocking, technological inspections, and supervision operations have been implemented,” he said. 

“For this purpose, signal jammers, advanced closed-circuit systems, motion sensors, security scanners, and technology are being installed in federal penitentiaries,” García Harfuch added. 

The security minister said that 33% of the almost 2,400 numbers known to have been used in recent extortion attempts have been “blocked,” including by removing or changing antennas at two prisons in Tamaulipas, and by implementing a “total block” on “3G and 4G services” in Santa Martha Acatitla, a Mexico City neighborhood where men’s and women’s prisons are located.

“In the first quarter of 2026, the [cell phone signals at] 14 federal prisons and the 13 Mexico City prisons will be blocked,” García Harfuch said.

He also said that since the national strategy against extortion began in July, federal authorities have carried out “revisions in the 275 penitentiary centers” across Mexico.

“Modems, telephones, chips, drugs and weapons have been seized in these revisions,” García Harfuch said.

Prisoners have been making extortion calls in Mexico for years. In 2023, the newspaper Reforma reported that 10,000 extortion calls per day were being made from Mexican prisons, resulting in significant earnings for “gangs of inmates.”

The use of mobile phones by prisoners is supposed to be banned, but enforcement of the law is lax in many cases.

Among the ways criminals seek to extort money is by telling innocent citizens over the telephone that one of their family members has been kidnapped.

“This type of [extortion] call is the most common and the most aggressive, as it threatens direct violence,” wrote academic José Isabel García Requenes in a paper titled “Extortion in Mexico.”

“The criminal indicates that he has kidnapped a family member or close person and threatens to kill or harm them. In some cases, the voice of the alleged abductee can even be imitated through a recording. … Large amounts of money are asked for and a payment period is imposed,” wrote García, an academic at the Autonomous University of Zacatecas.

Criminals also call business owners to demand regular payments known as derecho de piso (or cobro de piso).

Government has received more than 80,000 reports of extortion since July 

García Harfuch said that the government, via its 089 hotline, has received 83,800 calls from people reporting extortion since the national anti-extortion strategy was launched in July.

He said that 8,682 of those calls — “in other words 10% of the total” — related to acts of extortion that were successfully committed.

Those reports were referred to state-based prosecutors’ offices, García Harfuch said.

Authorities launch national strategy against extortion to tackle a pernicious and widespread crime

“We appreciate the public’s trust in making these reports and contributing to numerous investigations that have allowed us to apprehend those responsible for this crime, and to block the [telephone] numbers [they used] almost immediately,” he said. 

García Harfuch said that between July 6 and Nov. 3, a total of 478 people were arrested across 22 states on charges of extortion.

Reported cases of extortion have declined in recent months 

Earlier in Sheinbaum’s press conference, the head of the National Public Security System, Marcela Figueroa Franco, reported that there were 27.45 reported acts of extortion in October, a 14% decline compared to July, when the national anti-extortion strategy began.

However, the vast majority of acts of extortion and attempted extortion are not reported, mainly due to fear of reprisal. According to Francisco Rivas, general director of the National Citizens’ Observatory, more than 99% of acts of extortion committed in Mexico are not reported to authorities.

With reports from La Jornada 

Daily production at Dos Bocas surged 87% in September

By
MND Staff
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Olmeca refinery
The Olmeca, or Dos Bocas, refinery produced 270,000 barrels of gasoline per day in October, according to Energy Minister Luz Elena González, after producing 195,000 per day in September, making for two straight strong months. (@RefineriaDosBoc/X)

Energy Minister Luz Elena González said the new Olmeca refinery in the state of Tabasco produced 270,000 barrels of gasoline per day last month, making it the most productive refinery in the country.

If that still unofficial October figure is borne out when Pemex releases official results for October, it would mark the second straight strong month for Olmeca, more commonly known as Dos Bocas, after a slump in July and August. 

Luz Elena González
Energy Minister Luz Elena González (left) prepares to address Congress last week, where she revealed an encouraging preliminary figure for Dos Bocas’s production in October. (Cuartoscuro)

Pemex’s official September data indicated that Olmeca processed just under 195,000 barrels of crude oil per day that month, an 87.5% increase over August, and 20,000 barrels more than its top production level set in June, but still second in production to the Miguel Hidalgo refinery in Tula in the state of Hidalgo. 

Speaking to Congress as part of the government’s annual State of the Nation hearings last week, González defended the controversial refinery as “a strategic and beneficial investment for the country.”

Striking a positive chord, González echoed the Oct. 24 testimony delivered by Víctor Rodríguez, director of state oil company Pemex, insisting that the Olmeca refinery is fully operational and will continue to increase production.

This prediction is good news for Pemex after the US $20 billion refinery finally started processing crude oil last year, two years after it had been formally inaugurated by then-President Andrés Manuel López Obrador.

González told lawmakers that the Olmeca refinery processed more than 270,000 barrels of gasoline per day in October. Though she provided no official figures, González said Dos Bocas surpassed the Tula Hidalgo refinery as Mexico’s most productive. 

The nation’s seven refineries processed a total of 949,800 barrels of crude oil per day in September, in the following proportions: Tula Hidalgo, 26.1%; Dos Bocas, 20.5%; Salina Cruz (Oaxaca), 15.2%; Cadereyta (Nuevo León), 10.3%; Cd. Madero (Tamaulipas), 9.6%; Minatitlán (Veracruz), 9.6%; Salamanca (Guanajuato), 8.5%.

Dos Bocas and Tula were the only refineries operating above 50% of their capacity. While the refinery in Tula was operating at 78.8% capacity in September, Dos Bocas — designed to refine 340,000 barrels per day — is processing just over 57% of this capacity.

For his part, Rodríguez said Pemex expects to soon increase the refining capacity of Dos Bocas to a maximum of 320,000 barrels per day.

With reports from La Jornada and El Financiero

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