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☆ The Russian pilot who defected to Ukraine with an Mi-8 helicopter was shot to death in Spain
▼ + stars: | 2024-02-19 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Read previewThe Russian pilot who defected to Ukraine with a Mi-8 helicopter in August was found shot to death in Spain last week, according to media reports in Ukraine and Spain. According to the outlet, Russian media reported Kuzminov had been found dead with at least five bullet wounds in an underground parking lot in southern Spain, near Alicante. AdvertisementSpecial Operation 'Titmouse'Kuzminov, a former captain in Russia's 319th separate helicopter regiment, defected to Ukraine in August when he landed a Russian Mi-8 AMTSh on a Ukrainian air base in Kharkiv. Ukrainian military officials said they would not surrender and were "eliminated." Advertisement"What is happening now is simply genocide of the Ukrainian people: both Ukrainian and Russian," he said in an interview released by Ukraine Defense Intelligence.

Persons: —, Maksym Kuzminov, Kuzminov, EFE Organizations: Service, Business, Reuters, Spanish, La Informacion, Police, Guardian, Ukraine Defense Intelligence Locations: Ukraine, Spain, Kyiv, Alicante, Spanish, Ukrainian, Russia's, Russian, Kharkiv, Russia

Some warehousing operations as well as distribution, logistics and refrigeration businesses no longer fit into Femsa's strategy and may be sold, Fonseca said. Femsa's shares have surged more than 40% this year after shedding 4.8% in 2022. Femsa, which last year acquired Swiss kiosk operator Valora for $1.15 billion, plans to concentrate on its retail, bottling and financial technology (fintech) operations. Femsa is capitalizing on the ubiquity of its Oxxo stores by promoting fintech services in them, such as digital accounts and debit cards, Fonseca said. Femsa's scale has allowed it to automate some processes, and it is looking for ways to cut energy costs, he said.

Persons: Daniel Becerril, Juan Fonseca, Fonseca, Femsa, Valentine Hilaire, Christian Plumb, Rod Nickel Organizations: Coca, Coke, REUTERS, MEXICO CITY, Heineken, Reuters, Televisa, Alfa, Thomson Locations: Coca Cola, Monterrey, Mexico, MEXICO, U.S, Jetro, Swiss

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. President Laurentino Cortizo announced that the new mining restrictions will apply to both future mining projects as well as those currently seeking permits. The abrupt mining pause comes barely a week after Cortizo hailed the revised contract that allows the local unit of Canada's First Quantum (FM.TO) to continue operating its lucrative Cobre Panama project. "Panama is a mining country," Alexander told Reuters, arguing that without the mine, the country's economy would barely grow this year, versus the robust 6% growth the government estimates. The Cobre Panama mine alone accounts for nearly 5% of Panama's economy.

Persons: Laurentino Cortizo, Cortizo, Hector Alexander, Alexander, Panama's, Edison Broce, Valentine Hilaire, Christian Plumb, Marguerita Choy, Raju Gopalakrishnan Organizations: Minerals, REUTERS, Aris, Reuters, Thomson Locations: Panama, Donoso

REUTERS/Paulo Whitaker/File Photo Acquire Licensing RightsMEXICO CITY, Oct 19 (Reuters) - Brazilian fintech Nubank's Mexico arm has requested a banking license from local regulators, the unit's top executive said on Thursday, describing it as a bid to broaden product offering. A banking license would allow Nubank to offer "diverse kinds of investments," including shares in Mexico's main stock index, the company said in a statement to Reuters. Other opportunities stemming from a banking license include handling direct deposits of salaries for customers and setting higher deposit limits, Nubank Mexico head Ivan Canales said in an interview. Canales did not provide a timeline for obtaining the license in what is Nubank's second-biggest market after Brazil. Funding for Nubank's expansion plans will come from parent company Nu Holdings (NUN.MX) and deposits made by their customers, said Canales.

Persons: Paulo Whitaker, Ivan Canales, Canales, Nubank, Valentine Hilaire, David Alire Garcia, Varun Organizations: REUTERS, MEXICO CITY, Reuters, Nu Holdings, Thomson Locations: Brazilian, Sao Paulo, Brazil, MEXICO, Mexico

Data from Mexico's financial products watchdog Condusef shows that the accounts would be the highest-yielding ones offered in the local financial sector. Other Latin American fintechs like Brazil's Nubank (NUN.MX) and Argentina's UALA have also launched savings accounts this year in Mexico, where data from the national statistics agency showed less than half of the population has savings accounts. The Mexican arms of Nubank and UALA both offer 9% yields on their savings accounts, already much higher than most banks. Stori expects to reach 3 million savings account holders by the end of next year, said its General Manager of New Products Sergio Duenas. ($1 = 18.0044 Mexican pesos)Reporting by Valentine Hilaire; Editing by David Alire Garcia, Christian Plumb and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Marlene Garayzar, Sergio Duenas, Valentine Hilaire, David Alire Garcia, Christian Plumb, Marguerita Choy Organizations: MEXICO CITY, Wednesday, Reuters, The Bank of, New, Thomson Locations: MEXICO, Mexico, The Bank of Mexico, Nubank

The logo of Mexico's Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico February 28, 2019. Mexico could lure annual foreign direct investment flows of $55 billion to $60 billion if it takes better advantage of nearshoring, up from $36 billion in 2022, she said. That has dampened expectations Mexico could benefit from increased investment in semiconductors in North America. Mexico still faces competition to win investment from both North and Central America, plus Colombia, he said. "I don't think this measure is a game-changer to persuade those who have doubts," said Vejar.

Persons: Daniel Becerril, Gabriel Yorio, Andres Manuel Lopez Obrador, Gabriela Siller, Siller, Yorio, Lopez Obrador, Ramse Gutierrez, Franklin Templeton, Tesla, Carlos Vejar, Valentine Hilaire, Dave Graham, Anthony Esposito, Grant McCool, Sonali Paul Organizations: Mexico's Central Bank, Banco, REUTERS, MEXICO CITY, Banco Base, Central America, Thomson Locations: Banco de Mexico, Mexico City, Mexico, MEXICO, Asia, China, North America, Canada, United States, Franklin Templeton Mexico, Nuevo Leon, Mexican, North, Central, Colombia

MEXICO CITY, Sept 7 (Reuters) - Mexican fintech Stori on Thursday announced the acquisition of MasCaja, a financial firm that will provide it a license to broaden its product portfolio in a market where many lack access to financial services. "We want to take the next step to boost financial inclusion," Stori co-founder Marlene Garayzar told Reuters. Stori, which reached unicorn status last year, already offers credit cards with lines starting at 500 Mexican pesos ($28), in a country where government data shows less than 35% of the adult population has formal credit. Earlier this year, Stori said it had reached 2 million users. ($1 = 17.5722 Mexican pesos)Reporting by Valentine Hilaire; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Stori, Marlene Garayzar, Nubank, Valentine Hilaire, Leslie Adler Organizations: MEXICO CITY, Reuters, ABC Capital Bank, Thomson Locations: MEXICO, Mexico, Argentine

A banner for Nubank, the Brazilian FinTech startup, hangs on the facade at the New York Stock Exchange (NYSE) to celebrate the company's IPO in New York, U.S., December 9, 2021. REUTERS/Brendan McDermid/File photo Acquire Licensing RightsMEXICO CITY, Sept 5 (Reuters) - Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy. The new product will allow customers to obtain personal loans in less than five minutes through its platform, the digital bank's Mexican arm, known as Nu Mexico, said in a statement. "Around 20% of the adult population connected by smartphones in Mexico has already applied to a Nu product. Executives from the fintech firm told Reuters last month Mexico is the market showing more potential for growth, and the company is ready to roll out products at a faster pace next year.

Persons: Brendan McDermid, Ivan Canales, Brazil's Nubank, Valentine Hilaire, Sandra Maler Organizations: New York Stock Exchange, REUTERS, Reuters, Thomson Locations: New York, U.S, MEXICO, Mexico

MEXICO CITY, July 13 (Reuters) - The Mexican government is no longer interested in purchasing Citigroup's (C.N) local retail arm, known as Banamex, a government spokesperson said on Thursday, adding that the U.S. bank "chose a different path" for its unit. Deputy Finance Minister Gabriel Yorio told Reuters at the time that Mexico could pursue a total or partial acquisition of the unit. Government spokesperson Jesus Ramirez did not immediately respond when asked which path the U.S. bank is taking. Before Citi's decision to list Banamex, banking sources said mining conglomerate Grupo Mexico (GMEXICOB.MX) had been eyeing the unit for around $7 billion. Reporting by Valentine Hilaire; Editing by Brendan O'Boyle and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Andres Manuel Lopez Obrador, Gabriel Yorio, Jesus Ramirez, Lopez Obrador, Valentine Hilaire, Brendan O'Boyle, Jamie Freed Organizations: MEXICO CITY, Citi, Reuters, Government, Grupo Mexico, German, Grupo, Spain's Banco Santander, Thomson Locations: MEXICO, U.S, Mexican, Mexico

The Central American nation urgently needs to exit the watch lists so it can reclaim its place as a financial hub, Deputy Financial Minister Jorge Almengor said in an interview late on Wednesday. In 2019 FATF again placed Panama on its list, saying the country was making too little progress on financial transparency. In 2020, the European Union added Panama to its own list of countries deemed "noncooperative" for tax purposes. The Organization for Economic Co-operation and Development (OECD) has also included Panama on its own watch list. He said the visit should result in Panama's removal from the watch list at an October plenary meeting of FATF.

Persons: Jorge Almengor, Panama's, FATF, Josep Borrell, Laurentino Cortizo, Almengor, Valentine Hilaire, Sarah Morland, Matthew Lewis Organizations: Central American, Union, Organization, Economic Co, Development, Panamanian, EU, Thomson Locations: Panama, Mexico

MEXICO CITY, June 7 (Reuters) - One million people in Mexico have opened savings accounts in Brazilian digital bank Nubank (NUN.MX) one month after the product's launch, the company said on Wednesday, with deposits amounting to 1 billion pesos ($58 million). Nubank, owned by Buffett-backed Nu Holdings , said it is now present in nine out of 10 municipalities in Mexico. Nubank announced a $330 million equity capitalization for Mexico late last year, in a bid to expand its footprint in the Latin American country. In addition to its new savings accounts, Nubank has issued 3.2 million credit cards in Mexico, a country with more than 126 million people. The bank announced last month it expects to launch digital checking accounts in the South American country by the end of 2023.

Persons: Nubank, Valentine Hilaire, Sonali Paul Organizations: MEXICO CITY, Buffett, Nu Holdings, Citi, Thomson Locations: MEXICO, Mexico, Nubank's, Colombia, American

MEXICO CITY, May 30 (Reuters) - Mexican firm KIO is aiming to double the capacity of its data centers over the next two years, taking advantage of President Andres Manuel Lopez Obrador's drive to boost nearshoring and tech firms' expanding Latin American footprint. "Our growth plan involves creating over the next two years the same capacity we have accumulated in the last 22 years. Sapien added that the adoption of data centers in the region has been slow due to companies' apprehension towards outsourcing the hosting of their data. KIO, which operates in five countries and has 20 data centers in its portfolio, is expanding operations in the northern Mexican city Monterrey after acquiring land for its new data campus. The expansion is strategic for the company as it expects to serve firms coming to Mexico due to the nearshoring trend, said Sapien.

Persons: KIO, Andres Manuel Lopez Obrador's, Jorge Sapien, Sapien, Nearshoring, Valentine Hilaire, Christopher Cushing Organizations: MEXICO CITY, Monterrey, Thomson Locations: MEXICO, Mexican, Mexico, American, Asia, Panama, Guatemala, Colombia, Spain

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