By Kylie Madry MEXICO CITY (Reuters) – Latin American property technology startup Tuhabi is set to receive a $50 million credit line from the Inter-American Development Bank’s (IDB) financing arm, which it will use to ramp up operations in Mexico, the company said Thursday. The funds for the so-called unicorn, a startup with a valuation…
By Brendan O’Boyle and Isabel Woodford MEXICO CITY (Reuters) -Mexico’s central bank on Wednesday signaled it would hold the benchmark interest rate at its current all-time high for an extended period of time to bring inflation down to its target range. “To achieve orderly and sustained convergence of headline inflation to the 3% target, the…
By Kanishka Singh WASHINGTON (Reuters) – The United States has asked Mexico to review whether workers at a Draxton facility in the Mexican city of Irapuato were being denied the rights to freedom of association and collective bargaining, the office of U.S. Trade Representative Katherine Tai said on Wednesday. Since the U.S.-Mexico-Canada agreement on trade,…
By Anthony Esposito MEXICO CITY (Reuters) – Mexico is evaluating whether buying Citigroup Inc’s Mexican consumer unit would help boost financial inclusion, potentially in combination with a state-run bank such as the Banco del Bienestar, a top finance ministry official said. U.S. lender Citigroup scrapped its sale of the Banamex unit last week and said…
By Ana Isabel Martinez MEXICO CITY (Reuters) – Mexico’s president took office in late 2018 pledging to boost local output of gasoline while phasing out imports, but so far state refineries have instead set a different course: bumper production of highly-contaminating fuel oil. To make Mexico self-sufficient, leftist resource nationalist President Andres Manuel Lopez Obrador…
MEXICO CITY (Reuters) -Mexican retail and bottling giant Femsa said Wednesday it had reached a “definitive” agreement to sell its stake in Jetro Restaurant Depot for $1.4 billion, furthering its strategy to simplify its business, and sending its shares up. The transaction will close in the second quarter of this year, when it will receive…
By Janina Nuno Rios MEXICO CITY (Reuters) – Usain Bolt said he is desperate to play a role in reviving the sport that made him a global superstar but has experienced something of a decline since his retirement six years ago. The Jamaican, who dominated men’s sprinting for nearly a decade after the 2008 Beijing…
By Nelson Renteria SAN SALVADOR (Reuters) – A court in El Salvador sentenced former President Mauricio Funes and his justice minister to more than a decade behind bars for their ties to criminal groups and failure to comply with duties, the attorney general’s office said on Monday. Funes was sentenced to 14 years and his…
MEXICO CITY (Reuters) – Mexico will in 15 days launch a public tender for the construction of 10 industrial parks at a planned business corridor on an isthmus in the south of the country, President Andres Manuel Lopez Obrador said on Monday. Auto makers, tech companies and semiconductor producers could be among investors in the…
By Dave Graham LOS REYES ACAQUILPAN, Mexico (Reuters) – Mexico’s ruling party next month looks likely to seize one of the last major opposition strongholds in a gubernatorial election that could also help determine its candidate to succeed leftist President Andres Manuel Lopez Obrador next year. On June 4, voters must choose between two women…