Saturday, May 17, 2025

Mexico City street has highest commercial rents in Latin America

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Avenida Masaryk, high-rent district.
Avenida Masaryk, high-rent district.

A street in Mexico City’s swanky Polanco district has the highest commercial rents in Latin America, according to a report by an international real estate firm.

The study Main Streets Across the World by real estate services company Cushman & Wakefield found that average annual commercial rents on Avenida Presidente Masaryk are US $1,011 per square meter.

Renting a small 50-square-meter space on Masaryk would cost US $4,212 a month.

Named after the first president of Czechoslovakia, Tomáš Garrigue Masaryk, the avenue is home to luxury brand boutiques and high-end restaurants among other businesses that cater to the well-heeled.

Masaryk ranked as the 13th most expensive street on which to rent a commercial space in the Americas and the 37th among those studied by Cushman & Wakefield in 67 cities around the world.

Masaryk, left, and the street that bears his name.
Masaryk, left, and the street sign that bears his name.

Despite the high ranking, commercial rents have actually fallen almost 6% on the street compared to last year, while across Mexico rents have “generally been edging down in the last year as a result of weaker demand, particularly at the luxury end of the market,” the report said.

Causeway Bay in Hong Kong has the highest commercial rents in the world followed by Fifth Avenue in New York, New Bond Street in London, the Champs-Élysées in Paris and Via Montenapoleone in Milan.

Causeway Bay rents average $28,216 per square meter per year, almost 28 times higher than those paid on Masaryk. A 50-square-meter shop would rent for $117,500 a month.

In Latin America, the second and third most expensive streets for commercial rents were in Bogotá, Colombia, and São Paulo, Brazil, respectively.

The cheapest rents among the 67 cities studied were in Dar es Salaam, Tanzania, where a 50-square-meter commercial space can be rented on the city’s most expensive shopping strip for $870 a month.

Source: El Financiero (sp), De10 (sp) 

Large tumors found in sea turtles in Sinaloa; pollution a likely cause

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One of the turtles with large tumors.
One of the turtles with a large tumor.

Two adult green sea turtles caught off the coast of Sinaloa within a week of each other were found to have very large tumors.

A marine biologist at the National Polytechnic Institute (IPN), Alan Zavala Norzagaray, said it was not the first time tumors have been found on turtles of this species, but those found previously were smaller.

Multiple tumors ranging in size from 0.1-40 centimeters were found on the turtles’ fins, skin, tissues, heads, cloaca and upper and lower shells.

He said the cause of the tumors is not known for certain, but the most likely explanations are pollution and climate change.

Researchers are running tests on the two turtles and will keep them indefinitely.

Zavala said that concentrations of contaminants on the coasts of the Pacific Ocean and the Gulf of Mexico are high. This exposes the turtles to harmful pollutants when they come ashore to lay their eggs.

Aside from pollutants like plastics and other garbage, Zavala suspects that agrochemicals, heavy metals, organochlorides and other chemical waste could also be to blame.

Source: El Universal (sp)

Pirates have attacked 16 cargo vessels a month this year in Gulf of Mexico

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Drilling platforms and cargo ships are targets of pirates in the gulf.
Drilling platforms and cargo ships are targets of pirates in the gulf.

Pirate attacks in the southern part of the Gulf of Mexico have increased fourfold in just two years, triggering calls for the navy to bolster its presence in the area.

Between January and September, there was an average of 16 attacks per month on cargo ships off the coast of Ciudad del Carmen, Campeche, and Dos Bocas, Tabasco, according to the International Transport Workers’ Federation (ITF).

In 2017, there was an average of four pirate attacks per month while last year the monthly average increased to 12.

Merchant marine data shows that there were 167 attacks on ships and oil platforms in the Gulf of Mexico between January and September but not a single arrest was reported in the period.

Pirates typically steal whatever they can get their hands on including the belongings of crew members as well as ships’ communication and navigation systems, which are later sold on the black market.

The increase in pirate attacks poses a risk to energy sector investments, warned the Ciudad del Carmen president of the Business Coordinating Council.

“This could cause future foreign investments in the energy sector to be canceled because entrepreneurs look for peaceful areas where their resources are protected . . .” Alejandro Fuentes Alvarado said.

ITF Latin America inspector Enrique Lozano Díaz told the newspaper Reforma that pirates have also attacked Pemex oil platforms in the Cantarell field, located 85 kilometers off the coast of Ciudad del Carmen.

“Pirates travel in two or more boats with powerful outboard motors,” he said.

“[There are] up to seven individuals in each boat,” Lozano added, explaining that the pirates make specific plans for each ship or oil platform they intend to attack.

Most recently, pirates attacked an Italian ship that provides services to oil drilling platforms in the Gulf of Mexico.

Two crew members were injured in the November 12 attack, which came eight days after a group of armed pirates robbed workers on the Independencia oil platform in the Gulf of Mexico. The attack triggered an international alert for the region, Lozano said.

“In addition to weapons, pirates use hooks to climb onto ships and platforms. They always operate in the early morning, they know that crew members don’t use firearms due to international regulations so they board with complete safety,” he said.

“The criminals steal . . . self-contained breathing apparatuses and expensive equipment as well as copper and pipes . . .”

In light of the increasing number of attacks, Ciudad del Carmen business owners have urged the navy to increase patrols in the southern part of the Gulf of Mexico.

The merchant marine has submitted a report about piracy in the Gulf of Mexico to both houses of Congress and is also calling for the navy to send more ships to deter and respond to criminal activity at sea.

Source: Reforma (sp) 

Pulque and barbacoa on the menu this weekend in Mexico City

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Lamb barbacoa and pulque on the menu this weekend.
Lamb barbacoa and pulque on the menu this weekend.

Savory, slow-roasted lamb and pre-Hispanic agave tipple will be on the menu this weekend at the 2019 Barbacoa, Pulque and Artisans’ Fair in Mexico City.

Regional producers will offer their best lamb barbacoa recipes, roasted either in above-ground or traditional pit ovens, as well as the accompanying consomé, a rich, clarified broth.

There will also be lots of antojitos (snacks) such as quesadillas, tlayudas, pork tacos, the sauce-drenched and grilled sandwiches called pambazos, elote (roasted corn) and the spicy soup made from beef stomach called pancita.

To wash all this down, festival attendees can grab a gourd full of pulque, a drink made from fermented agave syrup that dates back to before the conquest. Also on the menu will be curados, pulque that is flavored with ingredients such as lime, coconut, mango, pineapple, tomato and oats.

Although pulque has a very low alcohol content, those who must abstain can still try a cup of the sweet aguamiel, the raw agave syrup before fermentation.

As if all that weren’t enough, there will be traditional candies, ice creams, crepes, flan, cakes and gelatin for dessert, as well as lots of folk art booths to browse in between courses.

Now in its fourth year, the fair is a free family event held November 15-17 from 10:00am-8:00pm each day. The location is in the southwest of the city, at Calle del Rosal 2, in the borough of Magdalena Contreras.

Source: El Universal (sp)

Ghost towns in Chihuahua: most people have left, thanks to the narcos

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Welcome to Las Varas.
Welcome to Las Varas.

Violence by organized crime has turned two communities in Chihuahua into veritable ghost towns.

Confrontations between the Sinaloa and Juárez cartels have driven out entire families from the towns of Nicolás Bravo and Las Varas in the municipality of Madera.

“Go look and you’ll see, there’s no one in the streets,” Nicolás Bravo resident Abisail Bojórquez Solano told the newspaper El Universal.

Sitting alone on a bench across the street from the abandoned police station, Bojórquez told reporters that the violence has driven out most people from the town, and that those who remain live in fear.

“Some they chase out, some they kidnap. They burn people’s houses down and say ‘Get out.’ The ones they don’t want they take and disappear them,” he said.

Abisail Bojórquez doesn't see peace coming any time soon to Nicolás Bravo.
Abisail Bojórquez doesn’t see peace coming any time soon to Nicolás Bravo.

Narcotraffickers have driven out the town’s mayor and town council members. There is no longer a local police force, and state police only carry out random surveillance.

Nicolás Bravo is an example of what federal security official Leonel Cota Montaño spoke of when he warned in October that the country’s municipalities are defenseless against organized crime.

Bojórquez said that cartel members drive around town in pickup trucks dressed as soldiers and carrying military-grade weapons.

“The truth is [that we’re afraid]. Before it gets dark, everyone is already in their houses, at six, seven in the evening,” he said, adding that he sees no solution to the problem and doesn’t believe peace will come back to Nicolás Bravo.

The same situation can be found in the nearby community of Las Varas, where the scars of a raid on the state police barracks on June 24, 2018 are still visible. The attack left two officers dead, a patrol car burned and the barracks completely destroyed.

The pervasive nature of violence in the area was made apparent by a statement by one Las Varas resident who preferred to remain anonymous.

Things are quiet in Nicolás Bravo.
Things are quiet in Nicolás Bravo.

“Oh yes, very scary. I was cutting hair and we heard a helicopter . . . and shortly after we heard shots, but we didn’t think it would be much,” she said.

However, once the fighting intensified, she knew it was more serious than she had thought.

“A bit later it became more intense. It got real bad, the fighting was really loud, and the children were really scared. We will never forget that day.”

Days later, a confrontation between members of the La Línea and Nueva Gente cartels at the edge of town lasted 10 hours and killed 20 gang members from both sides.

Investigators found evidence of the use of assault weapons, hand grenades and .50-caliber rifles.

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For many families, it was the last straw. They abandoned their homes and fled.

“We are never calm, there is never peace. We always live with fear, we can’t shake off the fear. It’s something that sticks with you, I think,” said the Las Varas resident.

Source: El Universal (sp)

Bank cuts benchmark interest rate; weaker peso predicted to follow further cuts

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mexican currency
Economists predict peso will gradually weaken.

The central bank cut its benchmark interest rate on Thursday in a move that was predicted by economists, who expect the bank to continue monetary policy easing in 2020.

Leading economists forecast a weaker Mexican peso as a result.

The Bank of México cut the interest rate by 25 basis points to 7.5%.

Seventeen of 26 economists surveyed by Bloomberg predicted that the bank would cut its benchmark rate by 0.25% to 7.5% at today’s meeting. The other nine anticipated a 0.5% cut to 7.25%.

The bank made quarter-point cuts at its last two meetings after inflation dropped and the economy continued to slow.

Further rate cuts could diminish the appeal of the peso because they put a dent in its carry trade appeal. Carry trade is a strategy in which investors borrow currency in markets where interest rates are low and buy in markets where they are higher.

The strong performance of the peso since President López Obrador took office is mainly due to demand for the currency generated by its carry trade appeal, Bloomberg said.

Among the world’s major economies, only Argentina, where the economy is in crisis, and Turkey currently have a higher real interest rate (the difference between the interest rate and the inflation rate) than Mexico. A decrease in inflation to the central bank’s target of 3% has left Mexico’s real rate at 4.73%.

If the Bank of México benchmark interest rate continues to fall as predicted, Mexico’s real interest rate will also fall and purchasing pesos will become less attractive to investors, causing the currency to weaken.

“We believe the peso will depreciate gradually for the rest of the year and into 2020 as the carry advantage of the peso erodes,” said Banorte economist Juan Carlos Alderete.

He predicted a 6% interest rate at the end of next year and an exchange rate of 21.3 pesos to the US dollar.

The most recent survey by Citibanamex showed economists predicting on average a 6.5% rate at the end of 2020 and an exchange rate of 20.07 to the dollar. Early on Thursday, the peso weakened 0.55% to 19.46.

Bloomberg said the “debate among economists and strategists isn’t whether the peso will depreciate, but how weak it will become.”

While López Obrador has lauded the strength of the peso since he took office, a weakening of the currency due to monetary policy easing could actually help his government grow the economy because it would make Mexican exports more competitive.

Any economic expansion would be welcome news for the government after growth of just 0.1% in the third quarter, 0.0% in the second and a contraction of 0.3% in the first.

The ailing economy coupled with concern about the government’s policy agenda is affecting investor confidence in Mexico.

The Bank of America Merrill Lynch November survey showed that 77% of investment fund managers in Latin America believe that Mexico will lose its investment grade credit rating.

The figure is the highest since January when the survey first asked fund managers to offer an opinion about the outlook for Mexico’s sovereign rating.

Almost six in 10 fund managers said that government decisions represented a risk to the economy, while 23% expressed concern about the impact on Mexico of a slowdown in the United States.

The possibility of new U.S. tariffs on exports, another cut to Pemex’s credit rating and non-ratification of the new North American trade deal were also cited as risks albeit by just 8%, 4% and 4% of those polled, respectively.

Carlos Capistrán, the Bank of America’s chief economist in Mexico, told the newspaper El Financiero that data shows that investment has dropped significantly in real terms in 2019. Policy “uncertainty is one of the main factors” that has caused investment to fall, he said.

Capistrán said that monetary policy easing could stimulate the economy but predicted that it wouldn’t lift GDP growth above 1% next year.

The Bank of America is forecasting 0.0% growth this year and 0.9% in 2020.

Source: Bloomberg (en), El Financiero (sp) 

Cold front brings chest-deep sea foam to Tabasco town

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Sea foam invades Villas Sánchez Magallanes in Tabasco.
Sea foam invades Villas Sánchez Magallanes in Tabasco.

A town on the coast of Tabasco was inundated with sea foam during an unusual weather event on Wednesday.

Residents of Sánchez Magallanes were forced to vacate their homes when the chest-high foam invaded the streets near the port town’s beaches.

In a video of the event, caused by the high winds and waves of Cold Front No. 12, a man is seen carrying a woman through the foam after it surrounded her home.

“They’re taking out a woman who was trapped in the foam . . . she was evacuated from her home . . .” said the woman who shot the video.

The video also showed the intense winds caused by the front, which produced gusts of up to 60 kilometers per hour and three-meter waves in Tabasco.

Chest-deep sea foam in Tabasco on Wednesday.
Chest-deep sea foam in Tabasco on Wednesday.

Sea foam is generated by the waves’ agitation of water containing high concentrations of dissolved organic matter. As the water is churned by the waves, resilient bubbles formed. In this case they were blown onto land by strong winds.

The phenomenon occurred on Wednesday morning but by 12:30pm, Tabasco Civil Protection officials reported that the foam had subsided.

The agency also announced that samples of the foam had been collected to be examined by experts.

The National Water Commission (Conagua) reported that the cold front hit northern Mexico on Wednesday, and would make its way down to the center, east and southeast of the country.

It will bring low temperatures and heavy rains to states from Chihuahua and Nuevo León down to Puebla, Tabasco, Oaxaca and Chiapas. Meteorologists have also predicted hailstorms in some areas.

With as much as 150 millimeters of rainfall expected in many areas, authorities have warned residents to keep abreast of weather conditions and take precautions, as the precipitation is likely to cause flooding and rivers to overflow.

Mexico City residents have been warned for two days in a row now to be prepared for cold weather in the early morning. A yellow alert was issued in the boroughs of Álvaro Obregón, Cuajimalpa, Magdalena Contreras, Milpa Alta, Tlalpan and Xochimilco to warn that temperatures would drop to 4 to 6 C between 5:00am and 8:00am for a second day.

Source: Infobae (sp)

200 donkeys retired from garbage collection in Coacalco

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horse-drawn cart
It's out with the old ways in Coacalco . . .

The use of donkey and horse-drawn carts to collect trash officially came to an end in Coacalco, México state, on Tuesday after the municipal government put 40 new garbage trucks into operation.

More than 200 cart drivers who have long collected garbage in the municipality north of Mexico City will no longer be allowed to operate, said Mayor Darwin Eslava.

He said citizens demanded the removal of animal-drawn carts from the streets of Coacalco after expressing concerns about the treatment of the animals for many years.

“In the coming days, there will be a council meeting at which we’re going to ban” animal-drawn vehicles, Eslava said.

In the first instance, burreros (donkey drivers) will be a given a warning to leave Coacalco if they are seen operating on the streets, the mayor said. If they reoffend their animals will be taken away from them.

garbage truck
. . . and in with the new.

“We have an agreement with the people at the Otumba donkey sanctuary,” Eslava said.

He added that the cart drivers will be offered alternative employment by the municipality.

The local government signed an agreement to lease the garbage trucks for the next two years at a cost of 40 million pesos (US $2 million) annually. They will provide service to the entire municipality, where about 500 tonnes of trash are generated every day.

The government previously had the capacity to collect garbage in only 70% of Coacalco while the cart drivers provided service in the remaining areas.

Eslava said garbage collection will be free for Coacalco residents and that new drivers will also be prohibited from receiving tips.

Local authorities are also planning to put a waste sorting system in place to encourage residents to recycle.

Source: El Universal (sp), La Prensa (sp) 

In water disputes, what to do if authorities can’t be counted on to fix it?

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water

A few days ago it was discovered that the LeBarón family of Chihuahua was at the center of a longstanding dispute over water.

The claim by a nearby farmers’ group was that the family had been drilling illegal water wells on their property for years, the result being much less water to go around for the surrounding properties and communities. 

It is still unknown if this has anything at all to do with the ghastly and horrendous murders of many of the family’s children and several of its women.

I personally suspect that criminal gangs set on generally sowing terror and cementing their power among even the most influential families are responsible for the massacre.

That said, when “the family denied any wrongdoing” regarding the alleged hundreds (and perhaps thousands) of water wells they drilled on their ranches, it makes me wonder how many friends they had among the surrounding communities, and whether having those friends would have made a difference regarding their fate.

After all, there are plenty of examples of organized crime acting as a shadow state, “exacting justice” on behalf of communities in their own gruesome ways. This is always the danger in our current state of affairs: where real, legitimate authority is absent, opportunities for stepping into the vacuum are plentiful.

In a country in which it’s clear that the rule of law is not something anyone can count on, the authorities can’t be relied on to prevent or solve either kind of crime; not those of rich families exploiting natural resources simply because they can and it’s beneficial to them, and not the murders of said rich families either.

(I hope it goes without saying that I do not approve of the murders as retribution for any crime. I do think, however, that the desperation over water and the lengths people are willing to go to in order to control it are very much worth discussing.)

So let’s talk about water. In my rainy city in the cloud forest (Xalapa, Veracruz), I don’t have running water in my modern, centrally-located home at least a couple of times a month. I’m forever fighting with the water company, which sends bills month after month that make it look like I’m filling an Olympic swimming pool every day — as if I even had that kind of water pressure!

Comparably, I have it easy. There is almost always water available, and I don’t have to call an expensive water truck to bring water to fill up my tank.

In places like this that receive plenty of rainwater each year, there should be less pressure to pump water throughout the city. The technology to harvest rainwater exists, and valiant efforts have been made to ensure that homes most in need — especially in Mexico City — have that technology installed first.

Other places, like the vast deserts of the north that cannot count on a steady supply of rainwater, have a harder time. Out of necessity their water comes from wells that are dug down to natural aquifers. Rain harvesting might put a dent in things for the little rain they get, but is not the kind of radical solution that it is in other places.

In these areas, water is scarce, and to whom that water arrives first and in what quantities can be a difficult issue.

“The family denied any wrongdoing” [in relation to water wells]. Okay, but what does that mean exactly? People know they can’t count on fairness. There’s always a conflict between someone’s “right” to have an equal share of a basic right like water and someone else’s “right” to “make a living.”

So when some kind of unfairness is threatening ones livelihood, whats to be done if the authorities cant be counted on to fix it? How, as a society, do we deal with injustice when no institution can actually solve it or enforce the rules that are already there?

There are plenty of places in Mexico where large companies and factories, expensive resorts, and yes, the land and businesses of wealthy families, have all the water they need, even when scarcity in the area is a problem.

Those who live in surrounding areas often go without, or have to figure out other solutions to the unequal distribution.

Like many of Mexico’s problems, our water crisis can only really be addressed by fixing the issues that make the distribution so problematic in the first place. If water really is a human right, then it’s time to step up.

Sarah DeVries writes from her home in Xalapa, Veracruz.

Highway paved with recycled plastic is world’s first

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This pavement is made with thousands of used water bottles.
This pavement is made with thousands of used water bottles.

The world’s first highway paved partially with recycled plastics has been inaugurated in Guanajuato.

The four-kilometer stretch of pavement is located on the highway that connects the municipalities of Irapuato and Cuerámaro. The project utilized as much as 1.7 tonnes of reclaimed plastics, or the equivalent of 425,000 plastic packaging units, according to Dow Plastics Technology Mexico.

The asphalt was created by a consortium of companies including Dow, Vise, Surfax, Lasfalto and Omnigreen, and its application in the highway system was supported by the federal Communications and Transportation Secretariat (SCT).

“This new technology not only offers a possible solution to the management of plastic waste, it also theoretically prolongs the life span of highways by 50% compared to conventional asphalt,” said Dow in a press release.

“The advantage of using recycled plastic products is that they can be used on all types of highways, not only in high-performance products, which can extend the life span of any paved road,” the company added.

Dow Mexico’s commercial director of packaging and specialty plastics, Paula Sans, emphasized the use of plastics in a circular economic model, in which they can be used more than once.

“Showing that we can build highways out of modified high-performance asphalts that utilize recycled plastic is a step forward toward developing applications based on a business model of circular economy . . .” she said.

Dow said it plans to carry out more pilot projects with the modified asphalt in order to be able to use the technology on a large scale.

Sources: Forbes México (sp), El Financiero (sp)