Central America

Mexico's president Claudia Sheinbaum stated on Thursday that U.S. citizens are involved in the smuggling of fuel into the country. This follows an investigation into the illegal trade which revealed how the narcos had penetrated the North American Energy Sector. Sheinbaum responded to a question regarding the report by saying, "Yes, U.S. businesses are involved in the cases being investigated." Sheinbaum's regular morning press conference was in response. "One cannot understand how fuel from the U.S. enters Mexico illegally," Sheinbaum said during her morning press conference. The investigation published on Wednesday revealed that a Houston-based company, Ikon Midstream delivered diesel...

Mota-Engil is Portugal's biggest construction company. It has announced that it has won rail construction contracts worth over 1 billion euros (1.16 million dollars) in Mexico, increasing its order books in the country to more than 3.7 billion euro. In a press release, Mota-Engil said that with these contracts it would resume growth in its backlog of work in Mexico, "strengthening its position as the largest European rail infrastructure constructor in the country". Mota-Engil's shares rose 2.3% on Monday morning after the announcement. The contract with the Mexican government, worth 820 millions euros, involves the design and building of the...

London's stocks ended higher on Monday led by the miners after U.S. president Donald Trump lowered his rhetoric about trade tensions with China. Worries over this had caused a sharp drop on Friday. After Trump threatened to impose 100% tariffs on Chinese goods, fears of a global trade war were reignited. Trump's tone was more conciliatory over the weekend. He posted that "it'll be fine", and that the U.S. did not intend to "hurt China". Gold broke through $4100 an ounce on Monday, and precious metal miners closed up almost 10%. Fresnillo, and Endeavour rose 9.1% and 11,3% respectively. The...

London shares recovered modestly on Monday led by the miners as U.S. president Donald Trump softened rhetoric about trade tensions with China. Worries over this had caused a sharp drop on Friday. As of 1012 GMT the blue-chip FTSE 100 index was up 0.07%, after dropping 0.9% the previous session. Trump's threat to impose 100% tariffs on Chinese goods reignited fears of a global trade war. The FTSE 250, which is a mid-cap index, gained 1.15%. Trump's tone was more accommodative over the weekend. He posted that "it will be fine" as well as that the U.S. did not intend...

Citigroup rejected Grupo Mexico’s bid to acquire its retail division in Mexico, Banamex. Instead, Citigroup opted to move forward with an agreement previously reached. Grupo Mexico Surprised last week When it made an uninvited $9.3 billion bid for Banamex more than two years after it had abandoned negotiations. Local markets were rocked by the news. Wiping out billions In the firm's capitalization. Citi announced Thursday that they had rejected the offer. This led to a 4.5% increase in shares of Grupo Mexico. Citi announced last month that it will be launching a new website. Sell a 25% stake Banamex sold...

Citigroup said it still intends to pursue an IPO of its Mexican retail division, despite receiving a fresh offer from mining and transportation conglomerate Grupo México. Citi Last month, Banamex sold a 25% stake to Fernando Chico Pardo - a local billionaire who is the chairman of airport operator ASUR - for 0.8 times its book value. The bank stated that "we remain committed to realizing Banamex's full value for our shareholders and that the agreement with Fernando Chico Pardo, as well as the proposed IPO, continues to be our preferred way to achieve this outcome." "We will, of course,...

Grupo Mexico, a Mexican mining and transport giant, has made a binding bid to buy Citi's retail business in the country (Banamex), more than two year after scrapping previous plans. Grupo Mexico stated in a filing in which it said that its bid demonstrated its "unwavering faith" in the country, and that a similar purchase would make Banamex once again competitive with its peers. It said that the firm controlled by Mexican billionaire German Larrea would buy 25% of Banamex for 0.85x its book value and the remaining 75% for 0.80x its book value. Citi paid Banamex $12.5 billion in...

The Panama Canal announced on Thursday that the Central American nation's lawmakers had approved the proposed budget of the world-famous global freight channel, 2025/26, for the fiscal year. This is expected to result in an increase in the state contributions. The canal authority reported that for the period October to September, legislators approved a budget of $5.21 billion, which will bring in $3.19 billion into the state's coffers. This is a 14.5% increase over the budget set forth the previous year. The canal predicted a profit of $3.5 billion for the fiscal period ending September last week. The canal expects...

Mexican Claudia Sheinbaum, president of Citigroup in Mexico, said that it was "good" news on Thursday that a local billionaire signed an agreement to buy a 25% stake. Sheinbaum praised the Citigroup deal that put Banamex in the hands of Mexicans by selling the stake to business magnate Fernando Chico Pardo who chairs airport operator ASUR for $2.3 billion. Analysts viewed the announcement as an important step in Citigroup's divestment. The value of the Banamex stake at $9.12 billion effectively sets a floor for any potential Initial Public Offering (IPO). In a telephone interview, Wells Fargo bank analyst Mike Mayo...

A power outage that affected a radar system forced Costa Rica to suspend flights and close its airspace on Wednesday. Deputy Civil Aviation Director Luis Diego Saborio confirmed the news. The shutdown affects flights through the hub that connects the country to Latin America and to other countries. The transport ministry reported that the international airports Juan Santamaria outside the capital San Jose and Daniel Oduber Quiros in the province Guanacaste were affected. The ministry also added that "the entire airspace of the nation has been affected." Empresa Aeris, the airport operator at Juan Santamaria reported eight delayed commercial flights...

According to three sources who are familiar with the plan, U.S. president Donald Trump's government is on a quest to weaken China’s global network ports and bring in more strategic terminals to Western control. This is part of an ambitious effort by the United States to increase its maritime influence. It is also designed to alleviate growing concerns in Washington about being at a disadvantage in the event of conflict with China. The people said that Trump administration officials believed the U.S. Commercial Shipping Fleet was ill-equipped to support the military during wartime and Washington's dependency on foreign ports and...

A source familiar with the preparations told us on Thursday that the Panama Canal is soon to begin consulting with companies in order to launch a competitive bid in the first quarter next year for the construction and operation of two new ports within its zone. The ports are part a larger expansion plan organized by the administration of the canal. The plan aims to improve services for cargo handling including storage, trans shipment and gas transportation and ensure fresh water is available to operations. At a Thursday conference, Ricaurte Vaquez, the head of waterway, said that there was a...

Mexico's automotive industry has warned of "complexity" in the future of the United States-Mexico-Canada Agreement. Executives cited concerns about tighter rules for origin and the scrutiny of Asian components. Heavy-vehicle makers expressed their concerns at the CIAN Automotive Conference about adapting to current rules while meeting USMCA requirements. To qualify for tariff-free entry, the agreement requires that a percentage of vehicle components originate in North America. Rogelio Garca, president of the National Association of Bus, Truck and Tractor Truck Manufacturers, (ANPACT), said that the current rule is not feasible, given the fact that components are often imported multiple times prior...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Mexico is planning to increase import tariffs on almost 1,500 products including cars, steel, textiles and appliances to protect the domestic industry and job opportunities, particularly from cheap Chinese goods. This comes amid wider trade talks with both the U.S. Oracle has signed an unprecedented $300 billion cloud computing contract with OpenAI to support massive AI expansion starting in 2027. This is one of the biggest tech contracts ever, and signals a high-stakes wager on ChatGPT’s continued...

A freight train crashed into a double decker passenger bus in central Mexico, killing 10 people and injuring at least 61 others. The train operator claimed that the double decker bus was trying to pass the moving train. Canadian Pacific Kansas City de Mexico, the railroad, sent condolences and urged drivers to obey road signs and stop at railroad crossings. Herradura de Plata, the bus operator in question, did not respond immediately to a comment request. First responders had cordoned off and photographed the scene. The bus's metal frame was badly dented as well as the front of its top...

Mexican truck drivers from the border city Ciudad Juarez are studying English to comply with a President Donald Trump executive order that requires commercial drivers to be proficient in English. To meet U.S. standards, 50 truck drivers hauling goods between Ciudad Juarez, Mexico, and El Paso in Texas attend four to eight hours a week of English classes organized by their employers, Fletes Sotelo. Manuel Sotelo said that classes began six weeks ago and the goal was to have all drivers of the company know basic English. Sotelo also serves as the president of Ciudad Juarez's transport association. Jose Murguia...

In recent days, protests by indigenous peoples and poor roads disrupted the shipping of Brazil's bumper soya crop via the river port Miritituba within the Amazon rainforest. This has caused concern for global companies such as Cargill and Bunge who have important operations. Abiove, the association of grain handlers in Nigeria, reported on Friday that road access to Miritituba had been partially or totally blocked for two weeks. This has prevented the shipment of almost 70,000 tons per day of grain, equivalent to almost $30 millions of product value. In a statement issued jointly with the farm group Aprosoja Brasil,...

The tariffs imposed by U.S. president Donald Trump on Mexican imports pose a significant risk to farmers in Jacksonville. This is because Mexico's retaliation could cause corn buyers to switch to South American rivals. Mexico is the top corn-importing country in the world. At a time when prices of grains have plummeted and chemical and seed costs for crops are on the rise, this market is crucial for U.S. producers. Farmers in Jacksonville, a small city of 17,000 residents, are more likely to benefit from Mexican demand than other farmers. The residents live near a grain loading facility where corn...

Presidentelect Donald Trump's threatened tariffs on the top trade partners China, Mexico and Canada would deal a blow to the $1.7 trillion U.S. transportation industry and worsen a nearly threeyear trucking recession, sector experts stated. The market that moves whatever Americans make and buy is considered a financial bellwether, and will be amongst the first to signify any unexpected consequences of trade policies that Trump says will assist, not hurt, U.S. organizations. Tariffs like those proposed will raise costs, and higher rates suggest less need. Less demand equates to less freight, stated Jason Miller, interim chair of the department of...

Berkshire Hathawayowned BNSF Train will resume providing licenses for grain shuttle bus heading to Mexico beginning Tuesday, the company informed Reuters on Monday, in a relocation that could assist alleviate some delays impacting agricultural exports. The news comes as U.S. East and Gulf Coast port employees are set to go on strike on Tuesday, without any talks presently set up to avoid an interruption. Rail stockpiles have actually been interrupting export trade between the United States and Mexico and snarling farming supply chains as the fall harvest is under method. In late August, BNSF stopped issuing licenses for grain shuttle...

Brazilian cargo business Modern Logistics expects to get in the U.S. and Mexican markets in the next few months as it puts in location an expansion technique that will include looking at merger and acquisition opportunities in the brief to midterm. WHY IT is necessary Modern is a big player in the fast-growing cargo market in Latin America's largest economy, which has actually been increased in recent years by e-commerce and facilities financial investments. RESTRUCTURING Established in the 2010s by former Azul executives, Modern underwent a restructuring last year that saw previous FedEx executive Cristiano Koga selected as CEO. The...

Canada is seeing an extraordinary simultaneous blockage at its two primary freight rail operators that might cause billions of dollars worth of financial damage. The two rail operators, Canadian National Railway and Canadian Pacific Kansas City, are holding different talks with the Teamsters' union, which represents more than 9,000 employees including locomotive engineers, conductors, train and backyard employees and rail traffic controllers. The companies locked out workers on Thursday after stopping working to reach a labor deal. Here are a couple of crucial facts about the two rail operators: HISTORICAL BACKGROUND CN Rail's history dates back to the 1830s, however...

For the first time, Canada's. two primary railway business Canadian National Railway. and Canadian Pacific Kansas City are seeing a. synchronised labor blockage that might cause billions of. dollars' worth of economic damage. WHY HAVE OPERATIONS AT BOTH BUSINESS STOPPED? Contract talks in between the Teamsters union and the business. typically take place a year apart, however in 2022, after the federal. federal government presented new guidelines on fatigue, CN requested a. year-long extension to its existing deal instead of work out a. brand-new one. This suggested both companies' labor agreements expired at the. end of 2023 and talks have...

For the very first time, Canada's. 2 primary railway companies Canadian National Train. and Canadian Pacific Kansas City are on the verge of a. synchronised labor stoppage that could inflict billions of. dollars' worth of financial damage. WHY ARE BOTH COMPANIES POISED TO STOP? Contract talks in between the Teamsters union and the business. normally occur a year apart, however in 2022, after the federal. federal government presented brand-new guidelines on fatigue, CN requested a. year-long extension to its existing offer instead of work out a. new one. This implied both companies' labor arrangements ended at the. end of 2023...