Citigroup showed this week that specific Mexican risk still exists, admitting to at least US$ 400 million in fraudulent loans at its Mexican subsidiary. But whether Citi executives flew Aeroméxico or Delta to check the damage, they could be sure their planes were well-maintained at the two carriers’ new joint maintenance centre at Querétaro. In other sectors, a lot of software travelled south of the US-Mexican border, with agreements in the oil, banking, and airline sectors. A Swiss private equity group bought control of pipeline company Fermaca; and Mexican broadband mobile connections were up 46.6% in the last three months of 2013 from a year earlier.
Away from the spotlights, Carlos Slim is no longer the world’s richest man, and a beautiful woman is wanted on both banks of the Rio Grande.
Hasta la próxima!