The Government approves investing in Justice infrastructure to fight against corruption

The Government approves investing in Justice infrastructure to fight against corruption

  • The cabinet has held its first meeting since the resignation of Ana Mato.
  • An allocation of resources has been approved for the promotion of new technologies that will make the battery of anti-corruption initiatives more effective.
  • The FROB increases its powers and may determine measures to improve the situation of some banks and even determine if they are not viable.

Consejo de Ministros The Vice President of the Spanish Government Soraya Sáenz de Santamaría and the Minister of Economy and Competitiveness, Luis de Guindos, upon their arrival at the press conference following the meeting of the Council of Ministers today, November 28, 2014, at the Palacio de La Moncloa in Madrid. EFE / BALLESTEROS

The Council of Ministers has processed this Friday an endowment of resources for the promotion of new technologies that will serve so that the battery of anti-corruption initiatives that advanced on Thursday before the full Congress the Prime Minister, Mariano Rajoy. The investment, made in the technological infrastructure of the Ministry of Justice , aims to provide you with memories to fight against corruption.

First meeting without Ana Mato as head of Health, after resigning on Wednesday at the head of the Health portfolio “In a few days we will present more measures to streamline macroprocesses, ” vice-president Soraya Sáenz de Santamaría said at the subsequent press conference. has pointed out that institutions operate in the judicial response to cases of corruption and that what needs to be done is to “work better and faster” and, in this sense, has referred to the package of new technologies for the administration of justice that the Council of Ministers has approved.

The vice president has criticized the PSOE that made the Executive wait for months to approve anti-corruption measures because he believed in his willingness to consent and now say that they are late and has assured that the rules will be approved “immediately.” And he has ensured that if the two laws that are in Congress since February 2014 – the control of the financing of political parties and the relative to the exercise of senior positions – are no longer in force has been precisely “to seek agreement of the groups, especially the PSOE “.

All the ministers have been present this Friday at the meeting in the Moncloa Palace, the first meeting without Ana Mato as head of Health, after resigning this Wednesday at the head of the portfolio. The forecast is that the name of your relief will be known in the coming days and the elected or elected take possession on Wednesday.

 

Resulta ng larawan para sa frob

Other measures: new FROB, credit entities …

The Cabinet has also approved a report by the Minister of Economy, Luis de Guindos, on the draft bill for restructuring and resolution of credit institutions and investment services companies .

All credit institutions and investment services companies must prepare, in a preventive manner, a restructuring plan that they will present to the European Central Bank, the Bank of Spain or the National Securities Market Commission. In addition, they will have to have a resolution plan in case it is necessary to rescue the entity and here the new FROB will have a leading role.

The FROB, the public rescue fund of Spanish banks, increases its powers and, from now on, it will be able to determine what measures should be carried out to improve the situation of some banks or investment companies, and even determine if they are not viable.

From that moment, the FROB will activate the resolution instruments that it considers and will recapitalize the entity obliging to assume losses in the first place to the shareholders; if it were not enough, it will resort to the resolution fund that the FROB itself manages and in the last case to the deposits of more than 100,000 euros.

PIVE 6 and PIMA air

The Government has also approved the extension of the PIVE 6 plan for the purchase of efficient cars until the end of the year. For 2015 the Government has reserved a game of 175 million in the General State Budget for the PIVE 7. The vice president recalled that, despite the extension has been approved this Friday, reservations for purchases of cars under this plan can also benefit from November 24.

The PIVE 6 was valid until the end of the year or until the 175 million budget was exhausted, which is what finally happened. Given the success of previous calls, in terms of sales and reduction of polluting emissions from vehicles, this is why the Government has approved the continuity of the reservation request. Although the vice president has not finalized the amount destined for the extension, the Ministry of Industry estimated it last week at 70 million euros .

For bicycles with pedaling assisted by an electric motor, the aid will be 200 euros. On the other hand, the bases that regulate the PIMA AIRE 4 have also been approved by royal decree. The budget is 9.6 million euros and aid will be given to the purchase of commercial vehicles, gas and pedaling bicycles assisted by electric motor. The vice president stressed that the approval of the PIMA Aire 4 is a “more” step in the reduction of polluting gases and reinforces the Government’s policies against climate change, in addition to promoting the renewal of the mobile fleet of commercials, which “supposes a key boost to economic activity. “

Soraya Sáenz de Santamaría has detailed that for the purchase of commercials the aid that the Government will give is 1,000 euros for categories of less than 2,500 kilograms . For those with more than 2,500 kilograms, the aid will be 2,000 euros per vehicle. For bicycles with pedaling assisted by an electric motor, the aid will be 200 euros.

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Banorte plans to invest Afores money in infrastructure

 

 

Banorte plans to invest Afores money in infrastructure

Grupo Financiero Banorte , one of the largest in Mexico, plans to launch a vehicle for infrastructure investments of around 3,000 million dollars in the coming months, through the creation of an alliance between its retirement fund and North American partners. In this way the retirement fund afore XII-Banorte will put half and its partners the rest. The Afore XXI-Banorte has registered resources in Mexico worth 809,000 million pesos (53,000 million dollars).

      The partners in this alliance will be Canadian or American, but they have not wanted to give more details because they are still in a confidential phase of the process.

 

      Marcos Ramírez, head of Grupo Financiero Banorte indicated:

 

      We are very aware that the future comes from infrastructure. We have been seeing it for some time (…) we are going to announce it (the vehicle) in a few months.

 

      Banorte shares closed on Thursday at 89.4 pesos, down 0.20 percent.

 

Will it be a good investment for the resources of the afore?

 

 

 

BlackRock seeks to invest in infrastructure projects in Mexico

It seems that BlackRock also plans to invest money in infrastructure as Banorte, can it be a good time to invest money in infrastructure?

      BlackRock is one of the largest asset managers in the world and is looking to invest in infrastructure projects in Mexico. As Mexico has opened up to foreign capital in recent years, BlackRock, the infrastructure investment group, sees the opportunity to create a team of specialists to work outside the office they have in Mexico City.

 

      The CEO of BlackRock, Larry Fink commented: Mexico is finally beginning to unlock its true potential as an economic powerhouse In the coming decades, capital will flow more effectively in Mexico, the workforce will be the most capable, and it will be easier to do business. The challenge for BlackRock is undoubtedly that many institutional investors, including the private equity firm, KKR, are also looking to invest in infrastructure projects in Mexico.

 

 

BlackRock seeks to invest in infrastructure projects in Mexico

      See message from Andrea Broseta

The Retirement Fund Manager Sura is also interested in acquiring some assets for sale from the ICA construction company and also from other infrastructure companies. The manager of afore Sura commented that his main interest would be to focus on road assets and also clarified that Afores already have this type of project in their portfolios. But I clarify that currently the Afore can not buy them, but if there is the possibility of associating with an administrator and then the Afore Sura could part of the money and a third would be who would handle it.