Citigroup’s pivot away from the direct sale of Mexican bank Banamex to instead seek an IPO in 2025 was partially prompted by López Obrador’s continued demands surrounding the sale, financial experts say
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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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By JUAN DE JESÚS BREENE One of the first topics in most high school world geography classes is, “Why are some countries rich while other countries are poor?” The answer is a relatively simple one: a combination of its level of corruption, its geography, climate, whether it is landlocked, security of property rights, economic flow and, one of the most
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By MARK LORENZANA Luis Oswaldo Espinoza Marín, a lawyer and owner of the real estate agency and law firm Professional Legal Advisors (AJP) in the Mexican central-western state of Jalisco, committed suicide on the afternoon of Saturday, Aug. 6, by shooting himself in the head after agents from the Jalisco Prosecutor’s Office went to his residence in the municipality of Zapopan. The agents were
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PULSE NEWS MEXICO Just two days after the U.S. financial services rating agency Standard & Poor’s (S&P) revised its long-tern outlook for Mexico from negative to stable, Moody’s Analytics, another of the Big Three credit rating agencies, on Friday, July 8, downgraded the country’s sovereign bonds to Baa2, the next-to-last rung of investment grade, adding that Mexico’s economy will remain
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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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By THE PULSE NEWS MEXICO STAFF Axen Capital, a Mexican-based new generation financial and exchange group, launched the first-ever Mexican cryptocurrency on Friday, April 19. The new currency, call AxenCoin, was introduced during a colorful technology ceremony in Morelia, Michoacán, by Axen Capital founder and CEO Dante Eludier, with the new tender being made available for sale as of Saturday,
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By THE PULSE NEWS MEXICO STAFF The flow of economic remittances into Mexico by migrants working abroad grew by 18.47 percent annually compared to the same period last year, to a total of $13.911 billion, during the first quarter of 2022, the Central Bank of Mexico (Banxico) said Monday, May 2. This figure represents the highest increase during a similar
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By KELIN DILLON A new report by Mexico’s Superior Audit Office of the Federation (ASF) detailing the expenditure of the government’s public mega-projects, executed through the compilation of 15 financial and performance audits, has revealed inherent disorder, delays and irregularities found within the construction of President Andrés Manuel López Obrador’s (AMLO) pet projects, like the Tren Maya, the Dos Bocas
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By THE PULSE NEWS MEXICO STAFF According to a report published by Bloomberg News on Monday, Oct. 11, the only significant Mexican stock action in the last year and a half has been buyouts. In an article Michael O’Boyle, Bloomberg said that while Initial Public Offering (IPO) records around the world are currently at peak levels, with companies having already
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