Spanish law firm GARRIGUES-AFFINITAS prices for good corporate governance in Latin America

Net Serviços de Comunicação of Brazil and Desarrolladora Homex of Mexico are the winners of the first edition of the “Garrigues-Affinitas Prizes for Good Corporate Governance in Latin America.” The prizes were delivered this afternoon at the Intercontinental Hotel in Madrid during the 8th Latibex Forum, which has brought together more than 70 Latin American companies.

Net Serviços de Comunicação was the winner in the category “Latibex Company with the best corporate governance practices” and Desarrolladora Homex won in the category “Registered Latin American company (non-Latibex) with the best corporate governance practices”

Antonio Zoido, Chairman of the Madrid Stock Exchange, and Trinidad Jiménez, Secretary of State for Ibero-America, delivered the prizes. Trinidad Jiménez congratulated both prize-winners, “which succeeded in applying good rules of corporate governance, sometimes going beyond their own standards and those of their countries, which has even more merit.”

The purpose of the Garrigues-Affinitas Prizes for Good Corporate Governance in Latin America is to recognize the efforts made by Latin American companies in implementing good corporate governance and transparency policies.

The prizes will be awarded annually, and the winners will be announced during the Latibex Forum, an event organized by Latibex for Latin-American companies which trade in Euros on the Madrid Stock Exchange.

The jury for the first edition of the prizes was chaired by Antonio Garrigues, president of Garrigues law firm and Affinitas. In selecting the prize-winners, the jury considered shareholders’ rights, fair treatment, the role of interest groups, communication and the transparency and responsibility of the candidates’ boards of directors, among other factors.

Net Serviços de Comunicação is the largest cable television operator in Latin America. Founded in 1991, the company currently operates in 44 cities in Brazil, providing services to more than six million subscribers.

Net Serviços de Comunicação stands out for its high degree of social responsibility, which has led the company to promote many educational, cultural and environmental projects. “With this prize everyone in our company is a winner. We are proud to receive it because transparency and good corporate governance was the first decision we took in our company. We firmly believe that it is one of the necessities of our business,” affirmed Edgar Prado Lopes, Director of Treasury Services for Net Serviços de Comunicação.

Desarrolladora Homex, S.A. was founded in Mexico in 1989 and has focused on the design, construction and sale of affordable entry-level and middle-income housing. One of Mexico’s largest construction companies, in 2004 Desarrolladora received the “Socially-Responsible Business” award given by the Mexican Center for Philanthropy and Alliance for Corporate Social Responsibility in Mexico. “The prize was awarded to Homex, but I know that the investors are happiest of all, because it means that we are doing the right thing ethically,” said Eustaquio de Nicolás, chairman of Homex’s board of directors.

Along with the prize winners, the finalists for the Garrigues-Affinitas Prize were YPF Repsol and Molinos Río de la Plata (Argentina); Suzano Petroquímica (Brazil); Endesa Chile and CMPC (Chile); Bancolombia and Interconexión Eléctrica S.A. (Colombia); Bimbo (Mexico); Pro-Futuro AFP and Ferreyros S.A. (Peru). At the award ceremony, Antonio Garrigues encouraged all Latin American companies to follow the finalists’ example and make advances in the introduction of ethical practices: “No one can question that ethics are profitable. There is no future without good corporate governance.”

Affinitas was created on February 4, 2001 by four law firms: Garrigues, which promoted the alliance; Barbosa, Müssnich & Aragão Advogados (Brazil), Bruchou, Fernández Madero, Lombardi & Mitrani Abogados (Argentina) and Mijares, Angoitia, Cortés y Fuentes S.C. (Mexico). The law firms Garrigues Portugal, Barros & Errázuriz (Chile), Gómez-Pinzón Abogados (Colombia) and Miranda e Amado Abogados (Peru) have since joined the alliance. Currently, Affinitas unites 2500 professionals working in 40 offices throughout 12 countries.

Monaco elected to the UN Commission on Sustainable Development

During the meeting of the Economic and Social Council (ECOSOC) that took place on 27 July 2006, the Principality of Monaco was elected, for the first time, to the United Nations Commission on Sustainable Development.

The Commission is composed of 53 Member States seating for a three year term. Every year, a third of the membership is renewed by the ECOSOC.

The function of the Commission is to monitor the application of Agenda 21 which was adopted in 1992 at the Rio Summit. During its next session, which will take place in New York from 30 April to 11 May 2007, the Commission will discuss the issues of air pollution, climate change and energy consumption with sustainable development.

The Mandate of the Principality of Monaco will begin at the end of that session.

- View the internet website on the Commission on Sustainable Development

London 2012 Olympics survey

"Almost two thirds of Londoners think the capital's tax payers will end up footing the bill for the 2012 Olympics going over budget"
(According to BBC London poll)


Mayor Ken Livingstone said the Olympics would cost Londoners 38-pence a week - the same as the price of a walnut whip.

To review questions and answers go to BBC London 2012 Olympic Survey by clicking here

BENEDICT XVI: "MY TRIP IS NOT POLITICAL BUT PASTORAL"

BENEDICT XVI, explained last week that he was not visiting Turkey for political reasons but for pastoral mission to catholic community at Islamic Country for the troubles that this community finds to go on with their lives whith less rights than "muslims".
He also explained that he doesn't disagree for Turkey to go in EU but also doesn't agree as much Spanish newspapers as "El Páis" said last week trying to make more people support "Alliance of Civilisations" project promoted by Mr Rodriguez the Spanish president.

For more details please press the following LINKS:
Nov, 26 Calls for trip
Nov, 28 1st trip release
Nov, 29 2nd trip release (4 releases)

European Schedule - December -

Committee of the Regions

• December 11, COTER Commission Meeting
• December 15, ECOS Commission Meeting

Committee of the Regions Group adopts recommendations on legal and illegal immigration policies for Europe

Isidoro Gottardo, President of the EPP Group in the Committee of the Regions (CoR) believes that "the EU needs a more organised and coordinated European policy on migration and immigration, involving Member States and cooperating with local and regional authorities". In the framework of the EPP Group in CoR´s annual extraordinary meeting in Madrid on 27th October 2006, he also called for the sharing of responsibilities and financial burdens to be an integral part of any European approach. The EPP asks Commissioner Frattini to evaluate how to actively involve local and regional representatives in framing immigration policies, starting with the Tripoli Conference between the EU and the African Union scheduled for 22nd and 23rd November 2006. The declaration which was adopted in Madrid also recommends that based on a principle of solidarity, emergency financial instruments be created for areas poles identified as centres of strongest migration influxes. The EU and the Member States should also secure adequate financial means and reinforce specific programmes needed to integrate immigrants in the political and social life of the host country in the form of language training, cultural and civic training, and teaching programmes on European values.

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