Author: Stanley Bowers

The audit identified that there is no progress in the critical paths of the combined, delayed coking and catalytic plants, key to the operation of the facility. “Instrumentation and control activities were identified in the Combined and Delayed Coking Plants, which are becoming critical: calibration, assembly and connection of safety valves, transmitters, pressure and temperature elements,” the document states. It adds that, according to the project schedule, the construction of the combined and coking plants should have been completed in December last year, but “it is not finished yet.” Pemex said that the issue is being handled by the energy…

However, the representatives of the bank in Mexico maintained that this plan would be complicated since there are no cases in the past that have worked in this way. “In Mexico we have no record, in the last 20 years, of a bank under this optic. There has been no experience of having a mixed commercial bank and it would be difficult to determine an operation of these characteristics,” said Daniel Becker, vice president of the Association of Banks of Mexico (ABM) and one of the participants during the bid for the bank. The director of Mifel also said that…

Citibanamex is selling the part of Banco Nacional de México (Banamex) and Citi keeps the part of institutional clients, this has already happened on other occasions, such as when Banorte bought Ixe; BBVA to Bancomer, and Inbursa to Banco Walmart, explained the Commission. What will happen to my Citibanamex account or credit? Your bank account will continue to operate in a “normal” way and your money will not be at risk and the credits you have obtained must be paid as you have been doing. In this regard, Citibanamex has sent emails in which it explains that clients, shareholders and…

What is an IPO? An IPO is a process by which a company goes public through the offering of new shares. For this, companies must comply with several parameters of financial transparency and corporate governance, as well as with the current regulation issued by the Ministry of Finance and Public Credit. With an IPO, a company can obtain new capital from the general public, who, by acquiring their shares, become ‘owners’ of a percentage of the company. How does an Initial Public Offering work? There are several ways to carry out an IPO, however, the most common is for a…

El plan original de la venta de Citibanamex no solo incluye el negocio minorista, sino que también abarca al acervo cultural que resguarda Banamex y que contiene 4,000 pinturas, textiles, y edificios históricos. Tras el fracaso de la venta directa de los activos de Banamex, el grupo estadounidense no ha dicho qué pasará con el acervo cultural. Sin embargo, el presidente Andrés Manuel López Obrador ha expresado que sean mexicanos los futuros dueños. ¿Qué contiene este acervo? Archivos históricos en manos de Banamex Entre las piezas que resguarda la bóveda de Banamex están 700 obras consideradas de importancia nacional entre…

During his message, DeSantis criticized the Joe Biden government for allegedly “opening the southern border of the United States” and allowing the entry of “millions of foreigners illegally” and drugs, such as fentanyl, into the country. “We are going to close the border, build the border wall and hold the drug cartels accountable,” said the governor of Florida, who two weeks ago enacted one of the harshest laws against the undocumented migrant population in the United States. “We must return normality to our communities. The United States is a sovereign country. Our borders must be respected. We cannot have foreigners…

“Ok,” replied Ariadna, who asked to only use one of her first names. “After a while I find out.” Who bought Banamex?, goes to IPO When he arrived at the bank’s offices, the atmosphere was the same: people quickening their steps and absorbed in their phones. It wasn’t until her colleagues greeted her that she really dove into the subject. The first thing he noticed was that the majority felt uncertainty. Germán Larrea, despite what was said about him, was a visible figure as a buyer. “I think many wanted to feel comfortable knowing who the buyer would be and…

Citigroup’s decision to sell Banamex can be attributed to several strategic and financial factors. One of the main reasons is Citigroup’s search to simplify its structure and focus on its key markets. By divesting from Banamex, the entity can redirect its resources and efforts towards regions and business areas considered priority. Furthermore, the sale of Banamex may also be a response to challenges and changes in the regulatory environment. The financial industry has experienced increased supervision and regulation in recent years, which has led some institutions to re-evaluate their presence in certain markets or readjust their business model to adapt…

The Datoz consultancy estimates that Tesla has at least eight supplier companies in Monterrey, which supply components for its gigafactory located in Texas. This fact demonstrates the growing importance of the region as a supply center for the production of electric vehicles. Likewise, a greater occupancy of offices and industrial buildings has been observed, going from 9% to 3% compared to the period prior to the pandemic. This trend is expected to continue accelerating in the next 5 to 10 years, in line with the rise of the electromobility industry. Before the covid-19 pandemic, the consultant observed an average price…