Tag Archives: Business

Former Banxico Chief to Lead Grupo Bal

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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Bimbo: First Mexican Company to Suspend Sales in Russia

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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Pemex Loses 38.4 Percent of Global Market Share under AMLO

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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Mexico’s Congress Approves Outsourcing Bill

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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Mexico Loses One Million Businesses to Covid Pandemic

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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