Nearshoring picked up steam when the covid-19 pandemic exposed the considerable risks inherent in the supply chains for numerous critically important products and intermediate goods for which there was often a single supplier
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By coordinating and verifying personal biometrics and facial recognition technology online with the National Electoral Institute (INE), Banca Azteca can check and authenticate applicants’ data to prevent possible identity thefts
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After a year and a half of negotiating with Mexican firms for the sale of Banamex, New York financial firm Citigroup announced that Banamex will instead be sold via initial public offering in 2025
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PULSE NEWS MEXICO Mexican billionaire Carlos Slim’s Inbursa financial group announced on Wednesday, Nov. 23, that it was withdrawing from its former commitment to purchase Banamex, Citigroup’s consumer and corporate banking business in Mexico. “After the presentation of a nonbinding proposal for the acquisition of said businesses, the parties have mutually agreed that Imbursa will not continue in the following
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OPINION By RICARDO CASTILLO For four Mexican opposition political parties, it is the lull before the storm, scheduled for Sunday, June 5, when elections for governor will be held in six states. For sure the leaders of those parties are keeping up the competitive spirit, claiming the candidates they support will come out victors, a hope contenders claim is wishful
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OPINION By THÉRÈSE MARGOLIS Despite the fact that just five months ago, Citigroup CEO Jane Fraser met with Mexican President Andrés Manuel López Obrador (AMLO) at the National Palace, declaring that the international financial group considered Mexico “a country of opportunities” thanks to its economic, political and social stability, the corporation announced on Tuesday, Jan. 11, that it would be
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By THE PULSE NEWS MEXICO STAFF In an effort to increase the government’s already-tight control on private bank account movements, Mexico’s new 2022 Income Law, promoted by the Secretariat of the Treasury (SAT), would require banks and other financial institutions to provide monthly reports, instead of the current annual reports, on all cash deposits received by account holders amounting to
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By THÉRÈSE MARGOLIS Despite a dramatic 74 percent uptick in violent crimes, a 7.3 percent increase in poverty, a contraction of the national economy every year since he took office, and, lest we forget, a dismal mismanagement of the covid-19 pandemic that has resulted in the deaths of nearly 260,000 Mexicans (and that’s just based on the official numbers, outside
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By THÉRÈSE MARGOLIS Ever since he first took office in December 2018, Mexican President Andrés Manuel López Obrador (AMLO) has been pushing to consolidating his institutional power by dismantling independent institutions, mandating constitutional rewrites and discrediting his opponents through unsubstantiated charges of criminal activity. One of the most notable victims of this latter political tactic has been the current governor
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By KELIN DILLON Global investment bank Goldman Sachs launched an international lawsuit against Mexico’s state-owned Federal Electricity Commission (CFE) for its apparent debt, to the sum of $400 million. The CFE allegedly defaulted on payments for a natural gas purchase during last February’s gas pipeline freeze, which affected Texas and Northern Mexico, resulting in the suit. “The Federal Electricity Commission
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