MND_BUSINESS
Electric trucks to haul cargo from Monterrey to Laredo starting in...
A private company has developed a transport route for its state-of-the-art electric vehicles to cleanly haul cargo from Monterrey into the U.S.
Citi rejects Grupo México’s US $9.3B offer to buy Banamex
On Monday, Citi said that it remained "committed to realizing the full value of Banamex for our shareholders, and the agreement we announced with Fernando Chico Pardo ... continues to be our preferred path to delivering that outcome."
Salesforce announces investment of US $1B to accelerate AI adoption in...
“This $1-billion investment is a commitment to Mexico as a key market for AI-powered growth,” Salesforce CEO Marc Benioff said.
Trump expands 25% truck tariff to include medium-duty vehicles, moves date to Nov. 1
The president of the United States initially said that a 25% tariff on heavy-duty trucks — but not medium-duty trucks — would take effect on Oct. 1. President Sheinbaum said on Tuesday that she would negotiate a carve-out for Mexico.
Grupo México seeks to acquire up to 100% of Banamex from Citigroup
It's the conglomerate's second attempt to gain full ownership. A complication this time is that another mogul, Fernando Chico Pardo, has officially offered to buy 25% of the bank.
USTR: Mexico not 100% compliant with USMCA
United States Trade Representative Jamieson Greer said his office is in talks with Mexican officials about the alleged breaches and asserted that, as things stand, "it doesn't make a lot of sense to talk about extending" the USMCA.
Slim invests US $2B in Veracruz oil field to help nudge Pemex to self-sufficiency
Carlos Slim's Grupo Carso will drill up to 32 onshore wells in the Ixachi field of the Gulf of Mexico over the next three years for Mexico’s state-owned oil and gas firm Petróleos Mexicanos (Pemex).
Fitch bumps up Pemex’s credit rating to BB+, citing stability
The upgrade by one of the top three credit rating agencies came with a stable outlook and followed the successful completion of a US $9.9 billion tender offer in eight series of securities, with financing from the Mexican government.
Opinion: It’s time for Mexico to stop flaring its precious natural gas
Mexico's dependence on U.S. natural gas is a major weakness, two energy sustainability experts write. So why is it burning off its own resources?
Analysts foresee long-term rate cuts as inflation creeps up
While actual figures for July have offset the recent positive growth forecasts from organizations like the OECD and IMF, private analyst predictions remain mildly positive.
San Luis Potosí leads Mexico in Japanese investment, opens Tokyo office to attract more capital
Japanese manufacturer Daikan's US $380M investment in a third SLP plant is the latest confirmation of the Bajío state’s ability to attract more Japanese investment than any other Mexican entity.
USMCA review will be ‘more bilateral than trilateral,’ says economy minister
The United States' Trade Representative Jamieson Greer spoke about the upcoming USMCA review negotiations during an appearance on Tuesday at the Economic Club of New York, prompting remarks from his Mexican counterpart.
Mexico’s exports up 7.4% despite auto sector decline
While auto sector revenue edged down 1%, the manufacturing sector on the whole posted 9% revenue growth in August, reaching US $51.7 billion.
Central bank cuts interest rate to 7.5%, lowest since May 2022
It was the 10th straight Banxico meeting that ended in a rate cut despite inflation creeping up in August.
CloudHQ announces US $4.8B plan to build 6 data centers in Querétaro
All six data centers are to be built at a single site near the state capital, just west of the Querétaro International Airport.
New economic data casts a shadow on Mexico’s recent rosy growth forecasts
Just after the IMF and OECD upgraded their growth forecasts for Mexico, new data shows the economy declined 1.2% annually in July.
