According to the state-owned oil giant, the drop in profit is the result of a decrease in total sales, the increase in the impairment of fixed assets and the lower income from the resale of products.
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Grupo Gigante is on a roll, opening three new home goods stores in just five days
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Mexico’s Financial Forecast
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De Hoyos’ resume, while far from that of a career politician, speaks for itself
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The newly acquired information reveals that a Baker Hughes subsidiary signed a contract with Pemex Procurement International (PPI) at its Houston headquarters on Aug. 16, 2019, the very same day López Beltrán and his wife moved into Schilling’s Houston mansion
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By THE PULSE NEWS MEXICO STAFF Alejandro Díaz de León, the former governor of Mexico’s Central Bank (Banxico) was appointed Thursday, March 24, to be the new corporate director of Grupo Bal, a Mexican private-sector conglomerate that includes Palacio de Hierro, Industrias Peñoles and Fresnillo In a statement signed by Grupo Bal president Alejandro Baillères said that “the extensive, deep and
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By THE PULSE NEWS MEXICO STAFF While the administration of Mexico’s leftist president, Andrés Manuel López Obrador (AMLO), refuses to take any diplomatic or commercial stance against Russia for its invasion into the sovereign nation of Ukraine, Mexico’s leading bread company, Grupo Bimbo, announced Monday, March 14, that it will suspend all sales and future investments in Russia. Bimbo is
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By KELIN DILLON Halfway through the six-year administration of Mexican President Andrés Manuel López Obrador (AMLO), Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) has lost 38.4 percent of its stake in the world’s energy market, dropping out of the top 10 most important international oil companies. Just in 2017, Pemex ranked highly in value according to British firm Brand Finance’s
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By KELIN DILLON Mexico’s Senate passed President Andrés Manuel López Obrador’s (AMLO) controversial outsourcing bill with near-unanimous approval on Tuesday, April 20, thus limiting the public and private sector’s ability to subcontract and outsource labor for projects. The bill passed through the Senate with 118 votes in favor, two in abstention and none against, allowing the reform to continue with
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By KELIN DILLON More than a million businesses in Mexico, or one in five, were forced to permanently shutter their doors due to effects of the worldwide coronavirus pandemic, reported Mexico’s National Institute of Statistics and Geography (Inegi). Of the 4.86 million businesses registered in the Inegi’s 2019 economic census, an estimated 3.85 million survived, while 1 million-odd businesses closed
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