MND_BUSINESS
With 12 million clients enrolled, fintech Nu Mexico closes in on...
Nu has grown rapidly by catering to those with limited access to banking, and nearly a quarter of clients are first-time account holders.
Peso hits its strongest point so far this year
Not since August of 2024 has the peso been stronger than its current 18.63-per-dollar rate.
Exports to US rebound in May after tariff-induced turbulence
After an unusually weak April, Mexican companies appear to be adapting to new market conditions.
Mexico’s pharma industry eyes growth with 13B pesos promised for drug development and manufacturing
The companies plan to build or expand specialized facilities in México state, advancing the country's self-sufficiency in drug production amid medication shortages.
Chinese EV maker BYD cancels its plans for a Mexico factory, citing ‘geopolitical issues’
The company indicated that U.S. President Donald Trump's fluctuating tariff plans were a factor: "We want to wait for more clarity before making our decision.”
Mexico-to-US cattle shipments to restart after tense battle with screwworm
The flow of cattle, bison and horses will be phased in on a port-by-port basis, after it was shut down in May due to a renewed threat of screwworm infestation.
Visa suspends international transactions made with CIBanco cards
CIBanco was among three Mexican financial institutions that were sanctioned by the U.S. Department of Treasury last Wednesday and accused of laundering millions of dollars for drug cartels.
US sanctions on CIBanco, Intercam and Vector could put Mexico on FATF grey list
The recently imposed sanctions will be reflected in the Financial Action Task Force (FATF)'s next assessment of Mexico, which hasn't been assessed by the FATF since 2017.
Mexico rolls out tax incentives for 15 economic development hubs, aiming to create 300,000 jobs
In the most recent phase of Plan México, the government established 15 economic development hubs, complete with tax incentives and new infrastructure.
Central bank cuts interest rate to lowest point in nearly 3 years
The country's benchmark interest rate has steadily declined since early 2024, but that easing cycle may now be ending.
Mexican government takes control of 2 Mexican banks facing US sanctions
The national banking commission intervened "for the purpose of safeguarding the rights of savers and clients" at Intercam and CIBanco.
US sanctions 3 Mexican financial institutions accused of money laundering
Though Mexico protested a lack of evidence of money laundering, the banks will soon be cut off from making financial transactions with many US institutions.
Trump approves expansion of cross-border bridge connecting Eagle Pass and Piedras Negras
The expansion, which will take three years to complete, will double the available lanes from six to 12 and improve the trade bridge's infrastructure, paving the way for a greater volume of U.S.-Mexico trade.
Mexico close to striking a deal on US steel tariffs, Bloomberg reports
Bloomberg reported on Tuesday that trade negotiations between the United States and Mexico are "homing in on a possible quota system to reduce tariffs on a certain volume of steel imports."
Korean automotive SL MEX invests US $45M in San Luis Potosí
The company, headquartered in Gyeongsan, South Korea, specializes in headlight modules and expects to manufacture one million of them per year, generating 385 direct jobs.
Fox acquires Mexican sports streamer Caliente
The acquisition allows Fox to tap into the growing appetite for premium sports and bulk up its sports content in Latin America as streaming becomes the top way for viewers to watch TV.
