Business Standard

Page 2 - Mexico

Narco violence leaves 200 dead, 234 missing in Mexican state in grim month

An analysis of hundreds of statements from the state prosecutor's office, the Interior Ministry and local press by Revista Espejo show the deadly tally of the clashes between two criminal groups

Narco violence leaves 200 dead, 234 missing in Mexican state in grim month
Updated On : 12 Oct 2024 | 9:45 AM IST

Snubbed by Tesla, Mexican govt pledges to create affordable electric car

Snubbed by Tesla, Mexico's new president pledged Friday to create a Mexican-made small, affordable electric car to compete with vehicles imported from China. President Claudia Sheinbaum said Teslas were too onerous, or expensive, for the Mexican market anyway. Tesla's cheapest car, the Model 3, costs about USD 30,000. Tesla CEO Elon Musk said in July the company had paused plans for a plant in Mexico, citing Donald Trump's remarks about possible auto tariffs. Sheinbaum said her government will try to bring together Mexican companies and researchers to produce a compact, cheap electric car. The idea is to use Mexican companies and Mexican researchers' ingenuity, to bring them together to assemble this electric car, Sheinbaum said. The idea is to create production chains so that this entire electric car is made in our country. She cited electric vehicles from China and India some of which are already flooding into Mexico as examples. Small electric motorbikes from China have flood

Snubbed by Tesla, Mexican govt pledges to create affordable electric car
Updated On : 12 Oct 2024 | 7:42 AM IST

Trump threatens to impose 200% tariff on vehicles imported from Mexico

Trump made his remarks on tariffs as he pledged to bolster the US auto industry

Trump threatens to impose 200% tariff on vehicles imported from Mexico
Updated On : 07 Oct 2024 | 8:46 AM IST

Mexican soldiers open fire on migrant truck with Indians aboard, 6 killed

A total of 33 migrants were travelling in the truck at which two Mexican soldiers opened fire. Besides Indians, migrants from Egypt, Nepal, Cuba and Pakistan were also onboard

Mexican soldiers open fire on migrant truck with Indians aboard, 6 killed
Updated On : 03 Oct 2024 | 4:46 PM IST

Sheinbaum becomes Mexico's first female prez, vows 'it's time for women'

Sheinbaum also used her first speech as head of state to address investor concerns after the passing of a sweeping judicial reform pushed by her predecessor, Andres Manuel Lopez Obrador

Sheinbaum becomes Mexico's first female prez, vows 'it's time for women'
Updated On : 02 Oct 2024 | 9:38 AM IST

Who is Claudia Sheinbaum, scientist who will head Mexico as 1st female prez

Claudia Sheinbaum takes office Tuesday as Mexico's first female president in the nation's more than 200 years of independence. The 62-year-old former Mexico City mayor and lifelong leftist campaigned on a promise of continuity, of protecting and expanding the signature initiatives of her mentor, former President Andrs Manuel Lpez Obrador. In the four months between her election and inauguration she held that line, backing Lpez Obrador on issues big and small. But Sheinbaum is a very different person; she likes data and doesn't have Lpez Obrador's backslapping personal touch. Mexico now waits to see if she will step out of his shadow. What's Sheinbaum's background? Sheinbaum's background is in science. She has a Ph.D. in energy engineering. Her brother is a physicist. In a 2023 interview with The Associated Press, Sheinbaum said, I believe in science. Observers say that grounding showed itself in Sheinbaum's actions as mayor during the COVID-19 pandemic, when her city of some 9 mi

Who is Claudia Sheinbaum, scientist who will head Mexico as 1st female prez
Updated On : 01 Oct 2024 | 10:47 AM IST

Hurricane John floods towns along Mexico's Pacific coast, leaving 15 dead

Along Mexico's southern Pacific coast, floodwaters receded on Monday, leaving behind devastated towns and 15 dead, after John struck the coast once as a hurricane and again as tropical storm last week. Desperate residents in the town of Coyuca de Benitez, about 35 miles west of the resort city of Acapulco, organised volunteers to go to outlying areas to burn the bloated bodies of farm animals that drowned. The carcasses could become a health risk, so teams of townspeople set out with cans of diesel to help them in their grim work. The Mexican army began delivering aid packages to families in the town that were hit last year by Hurricane Otis and then last week -- twice -- by John. Some are becoming so tired of the repeated hurricane impacts every year they have almost given up. "I don't want to buy anything anymore, if this is going to continue happening every year," said Yahaira Garcia Marin (32) as she began to clear out her shattered house in Coyuca de Benitez. Around her, lit

Hurricane John floods towns along Mexico's Pacific coast, leaving 15 dead
Updated On : 01 Oct 2024 | 9:24 AM IST

Mexico's Pemex ships first fuel export from new Olmeca refinery to India

The exports offer an important milestone in efforts to start-up Olmeca, but fall short of government promises

Mexico's Pemex ships first fuel export from new Olmeca refinery to India
Updated On : 28 Sep 2024 | 7:45 AM IST

Mexico's most popular president retiring, here's what he will leave behind

Many Mexicans will feel a deep sense of loss when folksy, charismatic, nationalistic President Andres Manuel Lopez Obrador leaves office on September 30 and that's no surprise. Lopez Obrador himself has spent an inordinate amount of time talking about his own legacy and his place in history over his six-year term, something he brings up at almost every one of his marathonic daily 7 a.m. media briefings. But what legacy will the rumpled, grinning Lopez Obrador leave behind? It is perhaps the main question for a man who is obsessed with history, and one thing appears clear: he has changed the way politics is done in Mexico, perhaps forever. Unlike decades of reserved and distant presidents, Lopez Obrador has built a deep personal connection with many Mexicans. He has stripped the office of the thousands of presidential guards, limousines and walled compounds that once characterised it, saying you can't have a rich government with poor people. He is a politician who evokes ...

Mexico's most popular president retiring, here's what he will leave behind
Updated On : 25 Sep 2024 | 11:27 AM IST

John rapidly strengthens into Category 3 hurricane off Mexico's coast

Hurricane John ripped toward Mexico's southern coast on Monday after rapidly intensifying over the eastern Pacific Ocean, surprising authorities who called for residents of some coastal areas to head for cover. The US National Hurricane Centre said John had rapidly strengthened into a Category 3 hurricane with maximum sustained winds of 120 mph (190 kph). The storm was extremely close to the coast about 15 miles (20 kilometers) south of Punta Maldonado and it was moving north at 8 mph (13 kph). John was set to touch land late Monday night, according to forecasters and Mexican President Andres Manuel Lopez Obrador. "Seek higher ground, protect yourselves and do not forget that life is the most important thing; material things can be replaced. We are here," wrote Lopez Obrador on a post on the social media platform X. Forecasters projected John would hit the beachside town of Punta Maldonado head on, and also likely batter nearby tourist hubs Acapulco and Puerto Escondido before ...

John rapidly strengthens into Category 3 hurricane off Mexico's coast
Updated On : 24 Sep 2024 | 10:48 AM IST

Trump threatens John Deere with 200% tariffs if production moves to Mexico

Earlier this year, John Deere announced that it was laying off hundreds of employees in the Midwest and increasing its production capacity in Mexico

Trump threatens John Deere with 200% tariffs if production moves to Mexico
Updated On : 24 Sep 2024 | 10:07 AM IST

Moglix to invest $50 million in Credlix for expansion in USA, Mexico

B2B e-commerce unicorn Moglix on Friday announced its plans to invest USD 50 million to support the expansion of its supply chain financing subsidiary, Credlix, into the US and Mexico. Credlix will offer collateral-free financing solutions that improve cash flow, reduce financial burdens, and enable SMEs to scale operations in the US and Mexico. "Credlix has announced its expansion into the USA and Mexico, backed by USD 50 million in funding from Moglix," a company statement said. "The decision to invest was made within this financial year. The investment will be phased within the year. Additionally, Moglix will continue to invest long term," Moglix Founder and CEO Rahul Garg said. Credlix's expansion focuses on the manufacturing sector, including key industries such as automotive, textiles and apparel, aerospace components, industrial and consumer chemicals, agriproducts, and electronics, the statement said. "Just as we've supported manufacturing and infrastructure businesses in

Moglix to invest $50 million in Credlix for expansion in USA, Mexico
Updated On : 20 Sep 2024 | 11:57 PM IST

Storm Ileana makes landfall on Mexico's Sinaloa after pounding Los Cabos

Tropical Storm Ileana made landfall on the coast of the Mexican state of Sinaloa Saturday a day after it pounded the resort-studded Los Cabos. The tropical storm formed Thursday off Mexico's Pacific coast and was packing winds of of 40 mph (65 kph) as it moved ashore Saturday, the Miami-based National Hurricane Center said. It made landfall near the coastal city of Topolobampo and was moving north at 6 mph (9 kph). Forecasters say Ileana will churn over the coastal region of northern Sinaloa during the next several hours, weakening into a tropical depression, and then move over the Gulf of California roughly parallel to the coast on Sunday. On Friday, a warning had been in effect for portions of the Baja California Peninsula, including Cabo San Lucas and San Jose del Cabo. Juan Manuel Arce Ortega, from Los Cabos Civil Protection, said the municipalities of La Paz and Los Cabos had suspended classes in schools due to the storm. Authorities prepared 20 temporary shelters in San Jose

Storm Ileana makes landfall on Mexico's Sinaloa after pounding Los Cabos
Updated On : 15 Sep 2024 | 7:20 AM IST

US Gulf of Mexico oil firms begin hurricane damage checks, ports reopen

The storm likely disrupted about 1.5 million barrels of Gulf of Mexico production, analysts at UBS estimated, and will reduce the region's monthly oil production by 50,000 bpd

US Gulf of Mexico oil firms begin hurricane damage checks, ports reopen
Updated On : 13 Sep 2024 | 9:14 AM IST

Mexico's ruling bloc appears to secure Senate votes for judicial reform

Senate President Jose Gerardo Fernandez said the session was 'suspended' and asked lawmakers to remain calm as demonstrators flooded the upper level of the chamber

Mexico's ruling bloc appears to secure Senate votes for judicial reform
Updated On : 11 Sep 2024 | 10:07 AM IST

Tropical disturbance in Mexico to bring rain to parts of Texas, Louisiana

A tropical disturbance in the southwestern Gulf of Mexico was expected to bring significant rainfall to parts of Texas and Louisiana this week and could quickly develop into a stronger storm, including a hurricane, the National Weather Service says. The system was forecast to drift slowly northwestward during the next couple of days, moving near and along the Gulf coasts of Mexico and Texas, the weather service said on Sunday. Donald Jones, a meteorologist with the National Weather Service in Lake Charles, Louisiana, said during a weather briefing Saturday night that parts of Southeast Texas and southwest Louisiana should expect a whole lot of rain in the middle and later part of this week. Definitely want to continue to keep a very close eye on the forecast here in the coming days because this is something that could develop and evolve fairly rapidly. We're looking at anything from a non-named just tropical moisture air mass all the way up to the potential for a hurricane, Jones ..

Tropical disturbance in Mexico to bring rain to parts of Texas, Louisiana
Updated On : 09 Sep 2024 | 7:05 AM IST

Chinese migrants flock to Mexico in search of jobs and taste of freedom

Despite her well-paying tech job, Li Daijing didn't hesitate when her cousin asked for help running a restaurant in Mexico City. She packed up and left China for the Mexican capital last year, with dreams of a new adventure. The 30-year-old woman from Chengdu, the Sichuan provincial capital, hopes one day to start an online business importing furniture from her home country. I want more, Li said. I want to be a strong woman. I want independence. Li is among a new wave of Chinese migrants who are leaving their country in search of opportunities, more freedom or better financial prospects at a time when China's economy has slowed, youth unemployment rates remain high and its relations with the U.S. and its allies have soured. While the U.S. border patrol arrested tens of thousands of Chinese at the U.S-Mexico border over the past year, thousands are making the Latin American country their final destination. Many have hopes to start businesses of their own, taking advantage of Mexico'

Chinese migrants flock to Mexico in search of jobs and taste of freedom
Updated On : 05 Sep 2024 | 9:23 AM IST

Ramkrishna Forgings seeks 20% exports growth as Mexico unit comes up

Company last year acquired three companies as it ramps up production capacity

Ramkrishna Forgings seeks 20% exports growth as Mexico unit comes up
Updated On : 01 Sep 2024 | 10:29 PM IST

Boeing's uncrewed Starliner capsule could return by late next week: Nasa

Last week, the space agency said its two astronauts who flew to the International Space Station (ISS) in the Starliner in June will return to Earth in a SpaceX vehicle early next year

Boeing's uncrewed Starliner capsule could return by late next week: Nasa
Updated On : 30 Aug 2024 | 9:23 AM IST

Mexico to debate judicial reform next week amid ongoing diplomatic tensions

Canada's government said that it respects Mexico's sovereignty but that investors have expressed concern over the reform

Mexico to debate judicial reform next week amid ongoing diplomatic tensions
Updated On : 29 Aug 2024 | 8:56 AM IST