DIRS.INFO The most relevant business & tech news

The kidnappings are a stark reminder of the dangers faced by migrants as they travel across Mexico, crisscrossing areas rife with drug violence and weak rule of law. The National Guard confirmed the details in a separate statement. Fernando Reverte, president of Mapimi, a municipality which the migrants passed through after their capture and release, said the group of kidnapped migrants totaled about 1,500. [1/6] Members of the security forces work on a rescue operation of kidnapped migrants, in Ciudad Lerdo, Durando, Mexico in this handout image released December 6, 2022. The migrants broke down the building's front door, and found members of the National Guard, the Army and the INM outside.

☆ Trade panel sides with Mexico, Canada in auto rules dispute, Mexico says
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 9 (Reuters) - A dispute panel under a regional trade pact has sided with Mexico and Canada against the United States in a disagreement over regional content requirements for the auto sector, Mexico's presidency said on Friday in a tweet that was later deleted. "The decision could generate more incentives to generate auto parts in our country," the tweet said. Mexico's economy ministry told Reuters it would speak on the subject "once the resolution becomes official." Mexico is also in a trade dispute with the United States regarding its energy policies, which the United States calls nationalist and unfriendly to U.S. firms and a violation of the United States-Mexico-Canada Agreement (USMCA). Reporting by Kylie Madry and Adriana Barrera; Editing by Daina Beth Solomon and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Panama ex-President Martinelli to stand trial on money laundering charge
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Panama's former president Ricardo Martinelli is escorted by police officers and supporters while leaving a courthouse after being declared not guilty of spying charges in Panama City, Panama August 9, 2019. Martinelli's cap reads, "I survived Varela", referring to Panama's former president Juan Carlos Varela. REUTERS/Erick MarciscanoPANAMA CITY, Dec 9 (Reuters) - A Panamanian judge summoned former President Ricardo Martinelli to stand trial for a money laundering charge, investigators said on Friday. This is the second trial against Martinelli announced this year, and he is expected to testify in both in 2023. Martinelli and his sons, Luis and Ricardo, are also charged in Panama for their alleged involvement in laundering millions of dollars in bribes from Brazilian construction company Odebrecht.

☆ Mexico to present clean energy projects at North American Leaders' Summit, foreign minister says
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

Companies Petroleos Mexicanos FollowMEXICO CITY, Dec 7 (Reuters) - Mexico will present a series of clean energy projects at the North American Leaders' Summit, scheduled for next month, Foreign Minister Marcelo Ebrard said Wednesday. "We're going to present the portfolio of projects tackling the subject, because we need to start now in the two years left in the administration," Ebrard said at an event with business leaders in the central state of Queretaro. Reporting by Kylie Madry; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Peru's Castillo faces criminal charges as new president Boluarte takes helm
▼ + stars: | 2022-12-08 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

LIMA, Dec 8 (Reuters) - Peru's former President Pedro Castillo faced a first court hearing on Thursday over his arrest on charges of rebellion and conspiracy, as his successor issued her first pronouncements from the presidential palace. Castillo was ordered to be detained for seven days as the investigation into the charge that he orchestrated a rebellion proceeds. The former president attended the hearing via teleconference from a penitentiary center in Lima where he is being detained. Mexican President Andres Manuel Lopez Obrador has indicated he would be open to granting asylum to Castillo, a fellow leftist. BOLUARTE TAKES OFFICEDina Boluarte, Castillo's vice president, was sworn in as the South American country's new president on Wednesday, making her the sixth president in five years and the first woman to lead the nation of some 33 million.

☆ Reaction in Americas region to ousting of Peru's Castillo
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +3 min

LUIZ INACIO LULA DA SILVA, PRESIDENT-ELECT OF BRAZIL"I followed with great concern the events that led to the constitutional removal of the president of Peru, Pedro Castillo. COSTA RICA FOREIGN MINISTRY"Costa Rica deeply regrets the decision of Peruvian President Pedro Castillo regarding the dissolution of the Congress of the Republic ... because it represents a rupture in the constitutional order." EVO MORALES, FORMER PRESIDENT OF BOLIVIA, ON TWITTER"Our deep concern for the political crisis affecting the sister Republic of Peru. "Beyond mistakes and successes, our brother Pedro Castillo and his family deserve humane treatment. HONDURAS FOREIGN MINISTRY"The Honduran foreign ministry energetically condemns the coup d'etat in Peru, which is the result of a series of events meant to erode democracy and the sovereign will of the people represented by President Pedro Castillo."

☆ Guatemala court sentences ex-President Perez, ex-VP in graft case
▼ + stars: | 2022-12-07 | by ( Sofia Menchu | ) www.reuters.com time to read: +3 min

[1/5] Former Guatemalan President Otto Perez Molina leaves the courtroom after being found guilty of a corruption case during his administration, at the judicial building, in Guatemala City, Guatemala December 7, 2022. Perez, who was president of Guatemala from 2012 to 2015, has spent the last seven years in prison awaiting a verdict in the case. Baldetti was sentenced to more than 15 years in prison in 2018 in a separate fraud case. Perez was ordered to pay 8.7 million quetzales ($1.10 million) while Baldetti was fined 8.4 million quetzales ($1.06 million) on Wednesday. The case, known as "La Linea," was originally investigated under the now-defunct International Commission Against Impunity in Guatemala (CICIG), backed by the United Nations.

☆ China's BYD to sell EVs in Mexico in 2023, aims for up to 30,000 sales in 2024
▼ + stars: | 2022-11-30 | by ( Kylie Madry | ) www.reuters.com time to read: +3 min

[1/4] The interior of the BYD HAN EV is displayed as the Chinese electric-vehicle producer announces its expansion to the consumer market next year in Mexico, in Toluca, Mexico November 29, 2022. As per Mexico's Automotive Industry Association, just 4.5% of cars sold in the first eight months of this year were hybrid, or around 31,000 of nearly 693,000 sold in total. While BYD declined to name starting prices of its vehicles in Mexico, Zou stressed the company's affordability. BYD's Zou also said the company aimed to sell cars through 15 licensed dealers in Mexico by the end of 2023 and hit 30 by 2024. Zou said as U.S. states such as California go fully electric, Mexico — which produces a vast amount of cars for its northern neighbors — will likely follow.

☆ China's BYD to sell EVs in Mexico next year, aims up to 30,000 sales in 2024
▼ + stars: | 2022-11-29 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 29 (Reuters) - Chinese electric-vehicle maker BYD said on Tuesday it will launch its cars in Mexico next year, with a senior executive pegging its sales target at up to 30,000 vehicles in 2024. As per Mexico's Automotive Industry Association, just 4.5% of cars sold in the first eight months of this year were hybrid, or around 31,000 of nearly 693,000 sold in total. While BYD declined to name starting prices of its vehicles in Mexico, Zhou emphasized on the company's affordability. BYD's Zhou also said the company aimed to sell cars through 15 licensed dealers in Mexico by the end of 2023 and hit 40 by 2024. Mexican department store chain Liverpool will also sell the cars, BYD said.

☆ U.S. threatens legal steps over Mexico's planned GMO corn ban
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 28 (Reuters) - The United States on Monday threatened legal action against Mexico's plan to ban imports of genetically modified corn in 2024, saying it would cause huge economic losses and significantly impact bilateral trade. The countries are already in dispute resolution talks over Mexican energy policies, which the United States argues violates the U.S.-Mexico-Canada (USMCA) trade pact. The planned ban would halve Mexico's imports of yellow corn from the United States, a Mexican agriculture official told Reuters in October. Supporters of the plan say genetically modified seeds could contaminate Mexico's age-old native varieties. Vilsack said Lopez Obrador had reaffirmed the importance of yellow corn imports for Mexico's food security, and that he was expecting to soon receive a proposal from the president on a potential dialogue over the issue.

☆ Mexico's America Movil to propose combination of share series
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 22 (Reuters) - Mexican telecommunications giant America Movil will propose reclassifying three of its share series to shareholders, the company said Tuesday. The "AA," "A" and "L" share series would become part of the company's "B" series, it said in a filing. The change would require amending the company's bylaws and will be subject to regulatory authorization, America Movil said. Reporting by Kylie Madry, Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Nov 23 (Reuters) - The United States is in talks with Mexico and other countries to facilitate the return of Venezuelan migrants to their homeland, a senior U.S. official said in a call with reporters on Tuesday. "We're in discussion with Mexico and other countries to see what can be done in that sense," said Blas Nunez-Neto, the acting assistant secretary for U.S. border and immigration policy. Nunez-Neto declined to provide details when asked which other countries were in talks with the United States. A U.S. federal judge invalidated Title 42 last week but then a Republican-led legal challenge was filed seeking to keep it in place. Return flights of Venezuelans from Mexico began last month, Mexican officials told Reuters.

☆ GM Mexico head sees country missing electric vehicle target for 2030
▼ + stars: | 2022-11-17 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

MONTERREY, Mexico, Nov 16 (Reuters) - General Motors' Mexico head Francisco Garza foresees just 15% of the vehicles produced in the country in 2030 as being electric, missing the goal given by Mexican officials, he said Wednesday. GM is already in talks with the Mexican government at local, state and federal levels to boost EV production, Garza said. Mexican President Andres Manuel Lopez Obrador and other officials have repeatedly touted that Mexico is on track to meet or even exceed the goal of turning 50% of automotive production electric by 2030. However, Garza said Wednesday the government's official goal was to reach 30% of production by 2030. A spokesperson for the Mexican Automotive Industry Association (AMIA) told Reuters the goal was between 30% and 50%.

☆ Colombia's Grupo Aval posts 23.2% decrease in Q3 net profit
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Colombian financial conglomerate Grupo Aval (GAA.CN) reported third quarter net profit down 23.2% from a year earlier on Wednesday, landing at 929.8 billion pesos ($193.4 million), citing a higher effective tax rate and increased costs. The conglomerate's portfolio includes Colombian banks Banco de Bogota (BBO.CN), Banco Popular (BPO.CN), Banco AV Villas (VLL.CN) and Banco de Occidente (BOC.CN). The central bank of Latin America's fourth-largest economy has raised its benchmark interest rate to 11% - its highest level in 21 years - in continued efforts to respond to rising inflation. Grupo Aval, controlled by business magnate Luis Carlos Sarmiento, said its consolidated portfolio grew 16.5% during the quarter compared to 3Q21. (1 dollar = 4,806.07 Colombian pesos at end-September)Reporting by Aida Pelaez Fernandez and Carolina Pulice, Writing by Kylie Madry; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Colombia's Grupo SURA posts near-stable Q3 profit as revenues, costs grow
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +1 min

Nov 11 (Reuters) - Net profit at Grupo SURA, Colombia's largest investment company, stayed relatively stable in the third quarter compared to the year-ago period as both revenues and costs grew, the company said in a statement on Friday. The firm's net profit for the three-month period stood at 400.30 billion pesos ($83.29 million), dipping 2% year-on-year. Grupo SURA's revenue for the quarter hit 7.85 trillion pesos, up 19% from the year before, on double-digit growth in its insurance sector. Operational costs for the company also grew, however, rising some 16% from the year-ago quarter. SURA said it would continue to focus on cost control and efficiency, adding the increase in costs was still lower than the jump in revenue.

☆ U.S. extends protected migrant status to mid-2024 for six nationalities
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, Nov 10 (Reuters) - The United States has extended a protected status program that prevents migrants from being deported to mid-2024 for citizens of six countries, including Haiti and three Central American nations, its immigration service said on Thursday. The Temporary Protected Status (TPS) will be extended to June 30, 2024, for citizens of Haiti, El Salvador, Nicaragua, Sudan, Honduras, and Nepal, according to a document filed by the U.S. The TPS program provides recipients work permits and can protect them from deportation if their home countries go through extraordinary events such as natural disaster or armed conflict. The extension will affect about 392,000 people, of whom some 242,000 are citizens of El Salvador, according to USCIS data. "Thanks be to God," said Salvadoran Ambassador to the United States Milena Mayorga, tweeting a link to the document.

☆ Mexico president confirms nomination of cenbanker Esquivel for IDB chief
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 10 (Reuters) - Mexican President Andres Manuel Lopez Obrador confirmed on Thursday the nomination of Bank of Mexico Deputy Governor Gerardo Esquivel for the presidency of the Inter-American Development Bank (IDB), Latin America's main lending arm. "I promise to do my best in the process of running for the appointment," Esquivel said in a series of tweets on Thursday evening. Esquivel's term at the Bank of Mexico is currently set to end in December, though he could be asked to stay on. The former chief of the IDB, Mauricio Claver-Carone, was sacked in September after an investigation found he had had an intimate relationship with a subordinate. Reporting by Mexico City Newsroom; Additional reporting by Kylie Madry; editing by Cassandra Garrison and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Shooting in gang-plagued Mexican state leaves 9 dead
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 10 (Reuters) - A shooting left nine dead and two wounded at a bar in the central Mexican state of Guanajuato, which has increasingly suffered from cartel violence, local authorities said Thursday. Five men and four women were killed in the gunfire and two more women were hurt, the town said. The assailants had not yet been identified, officials said, adding that units of state and federal authorities as well as the National Guard would be moved into the area. Last month, 12 were killed at a bar in the city of Irapuato, following a nearby shooting that left 10 dead in September. Homicides have dropped slightly in 2022, though Lopez Obrador's term is on track to be the deadliest in modern history.

☆ Panama president to travel to U.S. for medical follow-up
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

PANAMA CITY, Nov 10 (Reuters) - Panamanian President Laurentino Cortizo will travel to Houston, Texas on Friday for follow-up treatment regarding the blood disorder he was diagnosed with in July, known as myelodysplasia, the presidency said in a statement Thursday. Cortizo will be in the United States until Nov. 17 for the medical evaluation, the presidency said. Reporting by Eli Moreno; Writing by Kylie Madry; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

☆ Citigroup to purchase Deutsche Bank license in Mexico for institutional unit
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Nov 8 (Reuters) - Citigroup Inc. said Tuesday it will purchase Deutsche Bank's Mexican license to continue its institutional operation in the country, following the planned sale of its local retail unit. "The acquisition of this license, which is subject to the receipt of all regulatory approvals, facilitates the pursuit of our consumer exit and ability to continue our institutional operations in Mexico," Citi said in a statement to Reuters. Reporting by Saeed Azhar in New York; Writing by Kylie Madry in Mexico City, Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ Citigroup to buy Deutsche Bank license in Mexico for wholesale unit
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Financial details were not disclosed, and Deutsche Bank said it would continue to grow and invest in Mexico through its broker dealer business there. The purchase of Deutsche Bank's license allows Citi to sidestep the lengthy process of independently applying for its own, once the split is complete. The retail operation will become known as Banco Nacional de Mexico, or Banamex, while the wholesale unit will be called Citi Mexico, Citi's country chief said in September. Deutsche Bank said it would still do business in Mexico. "Deutsche Bank is committed to deliver our global emerging markets platform to all of our client base through our Mexico broker dealer entity," the bank said.

☆ Colombia's Ecopetrol more than doubles Q3 net profit as oil demand, prices rise
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Colombia's state oil company Ecopetrol (ECO.CN) on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier, as both sales and prices shot up. The firm's revenues climbed 86% to 43.44 trillion pesos, while earnings before interest, taxes, depreciation and amortization (EBITDA) doubled to 21.14 trillion pesos during the period, it said in a filing. Production rose 5.4% in the third quarter of the year to an average of 720,400 barrels of oil equivalent per day (boed), up from 683,600 boed over the year-ago quarter. High crude prices have led U.S. oil majors Exxon Mobil (XOM.N) and Chevron (CVX.N) to record blockbuster quarterly profits, though Mexican state oil firm Pemex posted a loss, stemming from a weaker currency and higher sales costs. ($1= 5,013.20 Colombian pesos)Reporting by Kylie Madry and Noe Torres; Writing by Valentine Hilaire; Editing by Oliver Griffin and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ U.S., Mexico discuss regional markets, business relocation, Mexico says
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 7 (Reuters) - U.S. Commerce Secretary Gina Raimondo and her Mexican counterpart spoke by phone about strengthening regional markets and promoting relocalization of U.S. companies to Mexico, Mexico's economy ministry said in a tweet on Monday. The phone call comes days after Mexican Economy Minister Raquel Buenrostro, who took her post in October, spoke with U.S. Trade Representative Katherine Tai over the Mexican energy sector and U.S. corn exports. Reporting by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

☆ Mexican carrier Aeromexico expands routes to Europe, Asia
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 7 (Reuters) - Mexican airline Aeromexico (AEROMEX.MX) is expanding its flights to Europe and reestablishing a route to Asia, the company said on Monday. Beginning March 25, the airline will launch a new route to Rome from Mexico City, offering three weekly flights and expanding to five by June 1, it said in a statement. The additions will increase the airline's flights to Europe by 20% over the 2022 summer season, the company said. The carrier said it will begin flying daily to Tokyo on March 25, after having discontinued the route three years ago. Restoring the Category 1 rating would allow Mexican carriers such as Aeromexico to add new flights to the United States.

☆ Mexico's FEMSA to purchase financial services NetPay in B2B fintech bid
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 7 (Reuters) - Mexico's FEMSA (FEMSAUBD.MX) has signed an agreement to purchase financial services company NetPay as the retailer and Coke bottler expands its digital payments portfolio into business-to-business transactions, the company said on Monday. "This acquisition will allow us to extend our value proposition to micro, small and medium-sized companies," Digital@FEMSA Chief Executive Jose Antonio Fernandez said in a statement to Mexico's main stock exchange. FEMSA had purchased a minority stake in NetPay in 2019, it added, and hopes to complete the full purchase by the first quarter of 2023. Reporting by Kylie Madry; Editing by Christian PlumbOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Madry"

25 mentions found