The new 160,000 square-meter facility will be located in Ciénega de Flores, about 30 kilometers northeast of the state capital of Monterrey. (@VolvoGroupNA)
On Friday, Swedish car manufacturer Volvo announced that it had selected the state of Nuevo León as the site for its new North American heavy-duty truck factory, with an estimated investment of US $700 million.
The new 160,000 square-meter facility will be located in Ciénega de Flores, about 30 kilometers northeast of the state capital of Monterrey. Volvo plans for operations to begin in 2026 and expects the site to create 2,500 jobs.
Esta empresa se suma al boom económico de Nuevo León con una inversión de 700 MILLONES DE DÓLARES para construir su NUEVA PLANTA, que será la MÁS GRANDE DEL MUNDO.
Sin duda, Nuevo León es el mejor lugar para invertir y hacer negocios… Y VAMOS POR MÁS. pic.twitter.com/BySrOjWmY0
Volvo, which has targeted growth in North America as a strategic priority, says the new manufacturing plant will support production in the United States, supplying Volvo Trucks and Mack Trucks for the U.S. and Canadian markets. The factory will also produce Mack Trucks for the Mexican and Latin American markets.
“Monterrey provides significant logistical efficiencies for supporting sales to the southwestern and western regions of the U.S., and to Mexico and Latin America,” Volvo said in a statement issued from its headquarters in Gothenburg, Sweden.
“Welcome to the best state for investment, which is Nuevo León,” he said. “This will be among the biggest investments of [my term in office].”
Nuevo León was also chosen as the site for a new multi-billion dollar Tesla “gigafactory,” announced in March 2023, but which CEO Elon Musk recently said is on hold pending the outcome of the U.S. elections in November.
Manuel Montoya Ortega, local director of the automotive industry association Clúster Automotriz, told the newspaper Milenio that the arrival of Volvo will attract European automotive suppliers to the state.
“This will stimulate job growth for local businesses,” Montoya said, pointing out that the region is also home to the two biggest truck manufacturing plants in North America — Navistar is based in the Monterrey suburb of Escobedo and Freightliner is located in Madero, in the neighboring state of Coahuila.
The Ciénega de Flores site was chosen after months of deliberation, with Volvo considering various locations in Nuevo León and Coahuila, according to the newspaper Reforma.
Volvo also operates a smaller factory in Tultitlán, México state, where the company has been manufacturing buses for 26 years.
Trump was accompanied by mothers of children killed during the Biden administration in cases where the suspects are illegal immigrants. (@RLJnews/X)
Former United States president Donald Trump pledged to “seal” the Mexico-U.S. border and “stop the invasion” of migrants to the U.S. during a visit to a section of border wall in Arizona on Thursday.
During a press conference in Cochise County on the border between Arizona and Sonora, the Republican Party presidential nominee also promised to impose the death penalty on large-scale drug traffickers if he is elected on Nov. 5.
🚨Trump unveils new border crime policies
-10 year mandatory minimum sentence for anyone guilty of human smuggling
-Mandatory life sentence for anyone guilty of child trafficking
-Death penalty for anyone guilty of sex trafficking
Speaking just hours before Vice President Kamala Harris accepted the Democratic Party’s presidential nomination at the Democratic National Convention in Chicago, Trump took aim at his opponent, accusing her of failing in her position as “border czar” and asserting that she wants to have an “open border.”
“When we win this November we will end the Kamala Harris border nightmare once and for all,” he said.
“… With your vote we will seal the border, stop the invasion and launch the largest deportation effort in American history,” said Trump, who was accompanied by mothers of children killed during the Biden administration in cases where the suspects are illegal immigrants.
He claimed that Harris would allow “more than 100 million illegal aliens into our country” if elected president. He also asserted that the United States would be “overrun” by migrants “and essentially won’t be a country.”
If reelected — eight years after defeating Hillary Clinton in the 2016 presidential election — Trump said his government “will impose tough new sentences on illegal alien criminals.”
“These include 10-year mandatory minimum sentences for anyone guilty of human smuggling, a guaranteed life sentence for anyone guilty of child trafficking and a death penalty for anyone guilty of child or women sex trafficking,” he said.
“We’ll also impose the death penalty on major drug dealers and traffickers,” Trump added.
If his rhetoric were to become reality, Mexicans facing drug charges in the United States, such as alleged Sinaloa Cartel leader Ismael “El Mayo” Zambada, could be subject to capital punishment.
The situation at the border
During Joe Biden’s presidency, new records have been set for migrant arrivals at the border and illegal crossings into the United States, but numbers have trended down this year.
An executive order issued by Biden on June 4 instituted new measures to curb illegal migration to the U.S., including closing the border to most asylum seekers unless migrant flow daily averages are under 1,500 for seven consecutive days.
Data shows that illegal crossings into the U.S. from Mexico declined during five consecutive months between March and July, but the biggest drops came after Biden issued an executive order in early June that prevents migrants from making asylum claims at the U.S.-Mexico border at times when crossings between legal ports of entry surge.
In July, the number of illegal crossings detected by U.S. authorities declined 32.5% from June to reach the lowest level since September 2020.
Biden’s executive order — described by The New York Times as “the most restrictive border policy instituted by Mr. Biden, or any other modern Democrat” — has clearly contributed to the decline in illegal crossings in recent months. Still, enforcement against migrants in Mexico has also helped to reduce the number of people arriving at the country’s northern border.
Hundreds of thousands of foreigners detected traveling in Mexico without entry authorization have been taken to immigration detention centers this year, while others have been rounded up in different parts of the country and transported back to cities in southern Mexico, including Tapachula, Chiapas. That city is located just north of the border with Guatemala, where many migrants first enter Mexico.
Data from the National Immigration Institute shows that Venezuelans made up the largest cohort of irregular migrants in Mexico in the first five months of the year, followed by Guatemalans, Hondurans, Ecuadorians and Haitians.
Harris: “I fought against the cartels who traffic in guns and drugs and human beings”
During her National Democratic Convention speech on Thursday night, Kamala Harris highlighted her experience as a prosecutor and pledged to “bring back the bipartisan border security bill” that Donald Trump “killed.”
“I fought against the cartels who traffic in guns and drugs and human beings — [the cartels] who threaten the security of our border and the safety of our communities,” the vice president said while recalling her work as a young courtroom prosecutor in Oakland, California.
On Thursday night at the DNC, Kamala Harris pledged to “bring back the bipartisan border security bill” that Donald Trump “killed.” (@KamalaHarris/X)
“And I will tell you, these fights were not easy,” Harris said.
Later in her address, she said that she and Biden “brought together Democrats and conservative Republicans to write the strongest border bill in decades.”
“The border patrol endorsed it. But Donald Trump believes a border deal would hurt his campaign, so he ordered his allies in Congress to kill the deal,” Harris said.
“Well, I refuse to play politics with our security, and here is my pledge to you. As president, I will bring back the bipartisan border security bill that he killed, and I will sign it into law,” said the Democratic Party nominee.
“I know we can live up to our proud heritage as a nation of immigrants and reform our broken immigration system. We can create an earned pathway to citizenship and secure our border,” Harris said.
“The agreement would provide critical resources at the border and significant policy changes,” the White House said, highlighting Border Patrol and asylum reforms, among others.
If you have a pregunta, póngala en el chat please! (Brooke Cagle/Unsplash)
In today’s world, virtual meetings have become a part of our day-to-day life, and knowing some key phrases in Spanish for these situations can be incredibly helpful. Here are several useful Spanish phrases that can facilitate smooth and professional interactions during virtual work meetings or conversations, along with examples on how to use them.
Before starting a presentation or sharing documents, you might want to confirm that all participants can see what you are presenting. Believe me, I once attended a business meeting where the speaker spent the entire hour thinking we were all seeing his screen. Nobody had seen anything. So asking if everyone can see your screen is definitely a must.
¿Pueden prender sus micrófonos/cámaras? (Headway/Unsplash)
¿Pueden ver mi pantalla?
Translation: “Can you see my screen?”
Example: “Voy a empezar la presentación, ¿pueden ver mi pantalla?” (I’m going to start the presentation, can you all see my screen?)
¿Me escuchan?
Translation: “Can you all hear me?”
Example: “Hola a todos, ¿me escuchan bien?” (Hi everyone, can you all hear me?)
Se está trabando
Translation: “You’re breaking up.”
Example: “No te escucho, se está trabando.” (I can’t hear you, you’re breaking up).
The fact that we use an impersonal verb to express the phrase — “se está” — means we’re referring to the computer, as in “the computer is breaking up.”
Translation: “Could you please turn on your mics/cameras?”
Example: “Prendan su micrófono si tienen alguna pregunta.” (Turn on your mics if you have any questions).
“Pueden prender sus cámaras si se sienten cómodos.” (Turn your cameras on if you feel comfortable).
Cualquier pregunta póngala en el chat
Translation: “If you have any questions please put them in the chat.”
Example: “Siéntanse libres de preguntar, pero cualquier pregunta ponganla en el chat.” (Feel free to ask, but if you have any questions please put them in the chat.)
Se me fue el internet
Translation: “I lost my internet connection.”
Example: “Perdón! Se me fue el internet.” (Sorry! My internet went out.) Last but not least is a technical issue that I am sure has happened to all of us during a Zoom, Meet or Teams call. All of a sudden we are no longer on the call because our internet is not working properly. Whenever we can finally jump back into the meeting again and it’s our turn to speak, we’ll want to use this phrase.
These phrases will help you have more efficient and professional meetings. Integrating them can enhance clarity and foster better communication for your future calls.
Paulina Gerez is a translator-interpreter, content creator, and founder of Crack The Code, a series of online courses focused on languages. Through her social media, she helps people see learning a language from another perspective through her fun experiences. Instagram: paulinagerezm / Tiktok: paugerez3 / YT: paulina gerez
It's the third time this month that the peso has spiked above 19.5 to the dollar. (Moisés Pablo/Cuartoscuro)
The Mexican peso broke through the 19.50 to the US dollar barrier on Thursday, depreciating for a fourth consecutive day as the government’s judicial reform proposal continues to weigh on the currency.
The peso closed at 19.28 to the dollar on Wednesday, but sank to as low as 19.52 to the greenback Thursday morning, according to Bloomberg data.
It’s been a volatile month for the dollar-peso exchange rate. (Google)
The currency subsequently regained some of the ground it lost, but by late afternoon the USD:MXN exchange rate was back at 19.52.
That rate represents a depreciation of 4.5% for the peso compared to its closing position of 18.64 to the US dollar last Friday. The last time the peso was weaker was in late 2022.
The government’s proposed judicial reform — which seeks to allow citizens to directly elect judges — has contributed to the weakening of the peso this week.
With Morena’s coalition supermajority in the Chamber of Deputies, the reform is expected to sail through the lower house of Congress. (Presidencia/Cuartoscuro)
If approved, citizens will be able to elect Supreme Court justices and other judges from candidates put forward by the sitting president, Congress and the judiciary itself. The first judicial elections are slated to be held next year.
The decline in inflation as well as data showing that quarter-over-quarter economic growth slowed to just 0.2% between April and June increased the likelihood that the Bank of Mexico (Banxico) will make a second successive cut to interest rates after its board’s monetary policy meeting on Sept. 26.
The wide gap between Banxico’s key rate — currently 10.75% — and that of the United States Federal Reserve (5.25%-5.5%) supported the peso for a long period, but an unwinding of global carry trades and political developments in Mexico have hurt the currency in recent weeks.
Kimberley Sperrfechter, emerging markets economist at Capital Economics, said that the decline in inflation to 5.16% in the first half of August, along with weak economic data for June and “the Fed’s confirmation that it will kick off its loosening cycle next month means that we expect Banxico to lower its policy rate by another 25bp, to 10.50%.”
“Based on my lifelong experience supporting the rule of law, I believe popular direct election of judges is a major risk to the functioning of Mexico’s democracy,” he said.
“Any judicial reform should have the right kinds of safeguards that will ensure the judicial branch will be strengthened and not subject to the corruption of politics,” Salazar added.
U.S. Ambassador Salazar cautioned against the proposed judicial reform. (Mario Jasso/Cuartoscuro)
The ambassador also said he believes that “the debate over the direct election of judges … as well as the fierce politics if the elections for judges in 2025 and 2027 were to be approved, will threaten the historic trade relationship we have built, which relies on investors’ confidence in Mexico’s legal framework.”
“Direct elections would also make it easier for cartels and other bad actors to take advantage of politically motivated and inexperienced judges,” Salazar said.
“… We understand the importance of Mexico’s fight against judicial corruption. But direct political election of judges, in my view, would not address judicial corruption nor would it strengthen the judicial branch of government. It would also weaken the efforts to make North American economic integration a reality and would create turbulence as the debate over direct election will continue over the next several years.”
Analyst: Approval of reform could ‘rapidly deteriorate’ business environment
Gabriela Siller, director of economic analysis at Banco Base, wrote on X that the approval of the judicial reform proposal “could rapidly deteriorate the environment to do business” in Mexico.
Siller asserted that the reform will have a negative impact on economic growth by slowing down new inflows of foreign direct investment as well as reinvestment of profits by companies that already have a presence in Mexico.
“Given that the reform to the judicial power would weaken Mexico’s legal framework, the administration of justice and the application of USMCA rules in the country, it places the trade relationship with the United States at risk and would inhibit new investments from that country,” she wrote.
Siller said earlier this week that approval of the reform would “move Mexico away from the nearshoring opportunity.”
La reforma al Poder Judicial podría tener un impacto sobre México de al menos 1.9% del PIB, por el freno en la llegada de nuevas inversiones y el freno de reinversión de utilidades de las empresas extranjeras que están en México.
President-elect Claudia Sheinbaum asserted Wednesday that both Morgan Stanley and the Bank of America are “misinformed” because the approval of the judicial reform will lead to “a better justice system in Mexico.”
The banks and other foreign companies and individuals with investments in Mexico have nothing to worry about, said Sheinbaum, repeating a view she has expressed previously.
President-elect Sheinbaum criticized U.S. banks’ negative outlook on the judicial reform proposal on Wednesday. (Claudia Sheinbaum/X)
She also rejected claims that the reform poses a threat to the USMCA, the North American free trade pact that superseded NAFTA in 2020.
Sheinbaum will take office Oct. 1, while recently elected lawmakers will assume their positions in the Chamber of Deputies and the Senate a month earlier.
The coalition led by Morena will be able to approve the judicial reform proposal and other constitutional bills without the support of opposition lawmakers in the lower house as it will have a two-thirds majority. It will require the votes of three opposition senators to get such initiatives through the Senate.
A further 279 historical artifacts have been recovered by the Mexican government, as part of a campaign to return the country's vast patrimony to Mexico. (Gobierno de Mexico)
With the recent return of 279 Mexican archaeological artifacts from Europe, South America and the United States, roughly 14,000 pieces have been recovered since Dec. 1, 2018.
Last weekend, the Foreign Relations Ministry (SRE) announced it had handed over the recovered artifacts to the National Institute of Archaeology and History (INAH) which has confirmed they are indeed part of Mexico’s cultural patrimony.
Mexico repatriated the artifacts via its embassies in Germany, Spain, Argentina and other countries. (Gobierno de Mexico)
Mexico’s historically significant artifacts are protected by the federal Archaeological, Artistic and Historic Monuments Law which aims to preserve, conserve and protect Mexico’s cultural patrimony.
The repatriated items ranged from human remains to elaborately carved jade and ceramic pieces, dating from 2500 B.C. to A.D. 1521.
Some of the pieces may be more than 4,000 years old. (Gobierno de Mexico)
They include bones from an infant dating to 800-500 B.C., returned from Montreal. From Germany came a stone tripod mortar that could be more than 4,000 years old. Mexican consulates recovered a delicately carved jade mask from the Classic period (A.D. 250-900) from Los Angeles, and from Las Vegas, a clay pot dating from the years 200-800.
Other Mexican artifacts recovered include a double-edged knife from the Altiplano Central found in Tucson, Arizona, and 19 artifacts dating from 1200-1521 that had been removed to the United Kingdom.
Since taking office in 2018, President Andrés Manuel López Obrador has lobbied strenuously for the preservation of and return of historical artifacts. In addition to the #MiPatrimonioNoSeVende campaign, he has established new protocols and legal strategies to repatriate items illegally removed from Mexico.
Much of the recovery work is thanks to a federal government task force created in 2023. The task force has worked with local authorities abroad to seek juridical redress and to halt auctions in New York, Paris and Rome. It also negotiates with academic institutions and museums to recover archaeological artifacts.
U.S. personal care giant Edgewell broke ground on a US $110 million investment on Wednesday. (SEDECYT_AGS/X)
The U.S. consumer products company Edgewell Personal Care formally sealed its US $110 million investment in Mexico with a cornerstone laying ceremony in Aguascalientes on Wednesday.
Shelton, Connecticut-based Edgewell wasted no time in confirming its investment plans after revealing on Tuesday that it had selected the tiny north-central Mexican state as the site for its new factory, which will eventually employ 1,300 people.
Aguascalientes Governor Tere Jiménez and Edgewell CEO Rod Little celebrate the achievement. (SEDECYT_AGS/X)
“We are not here by accident,” Little said in a Tuesday press conference. “We visited 30 sites across Mexico to make sure we found the perfect location, and Aguascalientes won out.”
Little said the company was swayed by the region’s highly trained labor force, the state’s public security record, the high quality educational system and the support provided by state officials.
Jiménez lauded the decision as a boon to the state’s economy and a boost for the quality of life for everyone in the state.
REUNIÓN CON DIRECTIVOS DE LA EMPRESA EDGEWELL
Un gusto recibir en Aguascalientes a Rod Little, CEO de la empresa EDGEWELL, quienes deciden confiar en Aguascalientes para invertir y hacer crecer su industria.
“Aguascalientes plays a key part in the successful bilateral relations between Mexico and the United States, especially in economic terms,” she said. “The friendly relationship and solid collaboration between our state and [the United States] guarantees growth and prosperity for Edgewell’s project here.”
Esaú Garza de Vega, state economy minister, also welcomed Edgewell to Aguascalientes. “It is a great pleasure to accommodate Edgewell and be part of its global growth,” he said. “We’ll proudly manufacture and distribute their products; we’ll work alongside them every step of the way.”
The new 55,000 square-meter factory will be built in the FINSA Aguascalientes industrial park in the southern part of the state capital, also called Aguascalientes. The site is currently home to 20 companies, providing 5,000 jobs.
Edgewell’s vice president of global operations Carlos Texidor says the factory should be operational next year.
Edgewell owns more than 25 brands of personal hygiene products, including Schick, Wilkinson Sword, Playtex, Carefree, Stayfree, Hawaiian Tropic, Banana Boat and Edge.
Edgewell’s investment is the latest in a very profitable year for Mexico. The federal Economy Ministry announced this week that Mexico had received a record US $31.2 billion in FDI during the six-month period ending June 30.
Foxconn aims to increase capacity at the Óscar Flores Plant in Ciudad Juárez. (Foxconn Industrial Internet - Planta Oscar Flores/LinkedIn)
Taiwanese electronics manufacturer Foxconn announced a US $241.2 million investment in Chihuahua to increase its capacity to manufacture artificial intelligence (AI) servers.
According to Taiwanese newspaper United Daily News, the money will go to increasing production capacity at the Foxconn Industrial Internet (FII) plant in Mexico, located in Ciudad Juárez, Chihuahua.
FII, a China-based subsidiary of Foxconn, is already manufacturing AI servers at the Chihuahua plant.
FII’s Ciudad Juárez plant — called Planta Óscar Flores — was established in 2005. It is unclear whether the company plans to expand the approximately 63,000-square-meter facility.
Foxconn, officially called Hon Hai Precision Industry Co. Ltd., and its subsidiaries have other plants in Mexico, including one in Tijuana. The company is the world’s largest electronics manufacturer, and makes products for companies such as Apple, Sony and Nintendo.
Demand for artificial intelligence servers is growing as technology companies expand their offering of AI products. (Google)
In February, the company purchased a 421,600-square-meter site in Jalisco where it plans to produce AI servers. Via a Mexican subsidiary, Foxconn bought the property for 453 million pesos (US $23.3 million).
Late last year, the company and the government of Chihuahua announced they had formed a strategic partnership “aimed at advancing talent training, fostering innovation technology, and promoting sustainable energy development in Mexico’s largest state [by area].”
“… By combining expertise and resources, the effort is anticipated to drive positive change, shape the future of manufacturing, and contribute to the prosperity of Chihuahua and its residents,” they said in a joint press release.
Since early this month, Chalco has been flooded with contaminated sewage water. (Delfina Gómez/Facebook)
For nearly three weeks, thousands of residents in Chalco — a city of 174,700 in the state of México — have been living in dire conditions due to severe sewage flooding triggered by atypical torrential rains.
The ongoing disaster has led to widespread health concerns, forced evacuations and increasing demands for government intervention.
On Wednesday, Mexican Red Cross teams traversing the flooded streets by boat rescued 64 residents from the worst-affected areas — bringing the total number of rescued citizens to over 1,100 so far.
Most of the evacuees were taken to one of four temporary shelters, where showers, basic medical care, food and other essential services awaited them. Wednesday’s operation also included rescuing pets, some of whom had been left without food or water for days.
However, despite living in stagnant, contaminated water for days on end, many of the estimated 3,600 affected residents have refused to leave their homes for fear of looting.
Some of those people are receiving assistance from residents from non-flooded areas who have taken it upon themselves to prepare and distribute hot meals by boat to those trapped in their homes.
A woman contemplates her sewage-flooded living room in Chalco on Aug. 16, more than two weeks after the flooding started. (Rogelio Morales/Cuartoscuro)
“There were 16 children in one building who were so relieved when we brought them food,” one local volunteer, Verónica Urbina, told the newspaper La Jornada. She also said that community solidarity has provided some comfort in the midst of what might escalate into a full-blown public health crisis.
A two-minute news report on the Chalco flooding is available on CNN en Español.
As the situation has grown increasingly desperate, complaints from residents have escalated. During tours of the flood zone, México Governor Delfina Gómez Álvarez has been confronted by people irate over a perceived lack of action by state and federal authorities.
Mayor José Miguel Gutiérrez, like Gómez a member of the Morena party, has urgently called for a state of emergency to be declared.
“There is already a risk of diseases due to stagnant sewage, and the situation is only worsening,” Gutiérrez said in a radio interview with journalist Joaquín López-Dóriga. “It’s a catastrophe,” he added, noting that the water level has dropped at times, but then “it rains on us and raises the water level again.”
Additionally, he stressed the need to replace a 30-year-old sewage system that has a garbage trap, which prevents flood waters from receding.
The most affected neighborhoods are Culturas de México, San Miguel Jacalones and Emiliano Zapata. All abut the center of the city also known by its formal name of Chalco de Díaz Covarrubias, which is about an hour’s drive from Xochimilco in southern Mexico City.
The Red Cross of Mexico has helped flood zone residents evacuate. (Red Cross Edoméx/X)
Angry residents this week loudly slammed the doors of a building where Governor Gómez was meeting with authorities about the flooding in Chalco. Other residents blocked a portion of the Mexico-Cuautla highway on Tuesday.
And according to the newspaper El Financiero — quoting what residents have told reporters and written on social media — the military members and state police sent to the area to help “are not doing anything.”
“The state police are only on their phones and eating,” El Financiero quoted people as saying. “When people bring us food, the state and municipal police come to eat.”
Mexico’s National Water Commission (Conagua) issued a press release on Thursday noting that it has “deployed specialized personnel and equipment to help eliminate the three blockages [of the drainage system] caused by the accumulation of garbage.”
It’s a job that “exceeded the capacity of municipal and state teams,” the release added.
Conagua also said that it and other agencies are dredging some areas, clearing other drainage ducts, pumping water from affected areas and reinforcing eroding river banks.
Shortly before his death, Sinaloa poltiician Héctor Melesio Cuén allegedly went to meet with 'El Mayo' Zambada. By the end of the day, Zambada was in U.S. custody and Cuén was dead. (Héctor Melesio Cuén Díaz/Facebook)
Alleged Sinaloa Cartel leader Ismael “El Mayo” Zambada was kidnapped by fellow cartel member Joaquín Guzmán López near Culiacán, the same place where former Culiacán mayor Héctor Cuén was killed. That’s the story according to Zambada himself. Now, it looks like the Federal Attorney General’s Office (FGR) agrees.
The FGR has identified this luxurious Culiacán villa as the place Cuén and ‘El Mayo’ Zambada allegedly met the day of Zambada’s alleged kidnapping and Cuén’s murder. (FGR)
It said that a request for an arrest warrant for Guzmán López on charges of abduction of a person in Mexico in order to hand him over to the authorities of another country has been prepared.
The Attorney General’s Office said on Wednesday that it had established “with complete precision” the airfield where the plane used for the “alleged kidnapping” of Zambada took off.
In a statement released by his lawyer, Zambada, asserted that he was “ambushed” at a ranch and event center just outside Culiacán after being lured by Guzmán López to a supposed meeting between Cuén and Sinaloa Governor Rubén Rocha Moya.
Zambada said he was kidnapped at a meeting near Culiacán and that Cuén was killed at the same location. (Cuartoscuro)
“A group of men assaulted me, knocked me to the ground, and placed a dark-colored hood over my head,” the 76-year-old said, adding that he was tied up, handcuffed and forced into the bed of a pick-up truck before being driven to a nearby landing strip and “forced” onto a private plane.
Zambada also said that Cuén — mayor of Culiacán between 2011 and 2012, founder of the regionally influential Sinaloa Party and an ex-rector of the Autonomous University of Sinaloa (UAS) — was not shot at a gas station, as Sinaloa authorities initially said.
Rather, he asserted that Cuén was killed on July 25 at the property outside Culiacán where he believed he was going to help settle a dispute between the former mayor and Rocha over who should head up the UAS.
The FGR said it had located the property where “the probable crimes” of kidnapping, homicide, assault and “acts linked to forced disappearance” took place.
Zambada said Cuén was murdered at the place where they met, contrary to the claims of Sinaloa state investigators. (FGR)
Those “probable crimes” are also “linked” to the aggression that caused the death of Cuén, it said.
“The exterior part of said property is now protected by the FGR’s Criminal Investigation Agency,” the FGR said, adding that they have identified the vehicles used in the “possible kidnapping.”
The FGR also said that it had established, “with precision,” that the finding of the Sinaloa Attorney General’s Office (FGE) that Cuén was killed at a gas station in Culiacán “is not acceptable, nor does it have reliable elements of proof that allow it to be taken into account.”
However, as the FGR previously noted, the identity of the occupants of the pick-up truck is impossible to establish from the video.
Sara Bruna Quiñónez Estrada resigned as attorney general of Sinaloa last Friday after discrepancies between the state and federal findings came to light. Governor Rocha has highlighted that he traveled to Los Angeles on the day Zambada and Guzmán López arrived in the United States, and denied any knowledge of the supposed meeting with Cuén.
After a botched autopsy, the Sinaloa Attorney General’s Office (FGE) quickly cremated the Cuén’s body and released a video that they said showed he was shot in a gas station near Culiacán by unknown assailants on a motorcycle. (Youtube screenshot)
The circumstances that resulted in the arrests of Zambada and Guzmán López, the murder of Cuén and the disappearance of two of Zambada’s security personnel — one of whom is a Sinaloa police commander — are still not clear.
But the FGR’s statement is congruent with both Zambada’s statement and a declaration by United States Ambassador to Mexico Ken Salazar that evidence “indicates that El Mayo was taken [to the U.S.] against his will,” suggesting that a kidnapping is the most likely version of events.
It was the second consecutive two-week period that the annual headline rate declined after it fell to 5.52% in the second half of July from 5.61% in the first half of the month.
The 5.16% rate is lower than the 5.33% consensus forecast derived from the latest Citibanamex survey, but still well above the Bank of Mexico’s target of 3%.
Consumer prices fell 0.03% on a fortnight-over-fortnight basis, while the closely watched annual core inflation rate declined to 3.98% from 4.05% across July.
It was the first time in more than three years that the annual core inflation rate went below 4%.
The inflation rate in the first half of August is still well above the Bank of Mexico’s target of 3%. (Archive)
The decline in core inflation — a reading which excludes volatile food and energy prices — continued the trend seen over the past 1 1/2 years.
A strong majority of more than 30 banks, brokerages and research organizations surveyed by Citibanamex predict that the central bank will make another 25-basis-point cut after its board’s next monetary policy meeting on Sept. 26.
The decline in both headline and core inflation in the first half of August makes an interest rate cut even more likely next month.
Fresh produce inflation eases, but remains high
Annual inflation for agricultural products — fruit, vegetables and meat — was 10.95% in the first half of August, down from 13.72% across July.
Fruit and vegetable prices rose 15.89% annually, compared to 23.55% in July.
Inflation for meat increased to 6.28% in the first half of August, up from 5.36% across July.
The cost of meat rose 6.28% annually in the first half of August. (Cuartoscuro)
Packaged food, beverages and tobacco were 4.14% more expensive in the first half of the month than a year earlier, while annual inflation for non-food goods was 1.80%.
Annual inflation for services was 5.11%. Within that category, housing costs rose 3.98% and school fees increased 6.14%.
Energy prices, including those for electricity and gasoline, increased 6.74% on a year-over-year basis.
What is the inflation outlook?
The median forecast of the banks, brokerages and research organizations surveyed by Citibanamex is that the annual headline inflation rate will be 4.60% at the end of 2024.
Their consensus forecast is that inflation will continue falling next year to reach 3.86% at the end of 2025.
The Bank of Mexico is currently predicting 4.40% inflation at the end of the year and a 3% headline rate at the end of 2025.
