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Mexico probes governor over dam amid political clash MEXICO CITY: Mexico's federal authorities opened an investigation Wednesday into whether a governor illegally built a river dam on his family's ranch property that may have affected local water supplies.The accusations came amid a clash between federal officials and Sonora Governor Guillermo Padres, who said the allegations were a bid to discredit him over his complaints that authorities mishandled a devastating copper mine spill.David Korenfeld, director of the National Water Commission, said inspectors would check whether the ranch's owners had permits to build the dam and whether it has affected the city of Hermosillo and others in the northwestern state."(The commission) acts according to the law, whoever the owner may be," Korenfeld told a news conference, showing satellite images of the dam being built in 2011."If there are no permits, the dam's demolition will be ordered," he said.Padres, a member of the opposition conservative National Action Party, had voiced his ...

'Operation Fashion Police' nets drug millions in LA LOS ANGELES: Police staged mass dawn raids in Los Angeles on Wednesday, seizing at least $65 million in cash and funds allegedly linked to money-laundering for Mexican drug cartels.In what was dubbed "Operation Fashion Police, nine people were arrested as some 1,000 officers fanned out in the Fashion District in downtown Los Angeles, which one official called the "epicenter of narco-dollar money laundering."One business targeted in the huge crackdown was alleged to have laundered ransom ...
US Dems seek authority to equip, train Syria rebels WASHINGTON: Congressional Democrats were drafting legislation Wednesday that would authorize the US military to equip and train moderate Syrian rebels in an effort to reverse advances by the Islamic State (IS).Republicans have resisted the move, arguing President Barack Obama was trying to enact a "complicated policy change" without full congressional debate.Obama was scheduled to address the nation later Wednesday to lay out his plan to defeat the militant groups that has rampaged across parts of ...
Healthcare stocks, Mexican bonds attractive: managers NEW YORK: Healthcare stocks, high-quality small-cap companies, and Mexican bonds are among the assets most likely to beat passive indexes in the year ahead, according to portfolio managers who presented at the Legg Mason Investor Day in New York on Wednesday.Scott Glaser, who helps oversee $101 billion in assets as co-chief investment officer at ClearBridge Investments, said the firm is "not finding a lot of sector valuation anomalies," leaving him to look at smaller sub-sectors ...
Canadian city of Calgary struggles with late summer snowfall CALGARY: The Canadian city of Calgary, Alberta, home to much of the country's oil and gas industry, suffered through a late-summer snowfall on Wednesday that snarled traffic, downed trees and cut power to dozens of neighborhoods.Nestled in the foothills of the Rocky Mountains, the city of 1.2 million is used to bizarre weather and heavy snowfalls are common in the winter months.But the early September storm, which has so far dumped as much as 35 ...
US embargo cost Cuba over $100bn: diplomat HAVANA: Communist Cuba on Tuesday accused the United States' economic embargo on Havana of costing it $116 billion in economic losses over five decades."Through March (2014), the economic cost to the Cuban people of the US blockade has been $116.8 billion," said Deputy Foreign Minister Abelardo Moreno. The Americas' only Communist nation plans to introduce a resolution at the UN General Assembly this month seeking an end to the comprehensive US sanctions, Moreno said. That ...
Ukraine ceasefire 'mostly holding': US WASHINGTON: The United States said Wednesday the ceasefire in Ukraine was "mostly holding," adding that conditions on the ground would be a factor as it mulls imposing additional sanctions against Russia in "the next few days."State Department spokeswoman Marie Harf said the ceasefire agreed on Friday between Kiev and pro-Russian separatists has been successful, although have been reports of mortar attacks and sporadic gunfire in areas such as the Donetsk airport and Lougansk."Obviously it's something ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln