Ascendion and Aptiv Make a Splash in Nuevo León, Mexico

Mexico's business scene is buzzing with excitement. Ascendion invests $100M in an engineering center, while Aptiv opens a tech hub. Family offices juggle portfolios, Pemex cuts funds, and tilapia imports swim in.

Ascendion and Aptiv Make a Splash in Nuevo León, Mexico
Ascendion opens an engineering and digital software development center in San Pedro Garza García, Nuevo León. Image by Elchinator from Pixabay

Hold onto your sombreros, folks, because the Mexican business landscape is sizzling with activity! We've got a lineup of captivating news, ranging from soaring investments to fishy fish facts. So, buckle up and get ready for a wild ride!

First up on our rollercoaster of excitement is Ascendion, the US Information Technology (IT) company that knows how to make a grand entrance. With a whopping 100 million dollars in their pockets, they strutted into San Pedro Garza García, Nuevo León, and inaugurated an engineering and digital software development center. Why Nuevo León, you ask? Well, according to Karthik Krishnamurthy, the director of Ascendion, they chose this state because of the abundance of "highly qualified" engineering talent. And let's not forget the icing on the cake: they plan to train and certify every engineer they hire in Artificial Intelligence. Now that's what we call investing in the future!

But wait, there's more! Aptiv, the Irish company known for its automotive prowess, also made a splash with the inauguration of its Technical Center in Monterrey. This center aims to hire a staggering 300 engineers who specialize in software development for intelligent vehicle services. Talk about increasing the horsepower of their engineering capacity! Aptiv is no stranger to the big leagues, as they supply 23 out of the world's top 25 carmakers with their safety platforms and nifty automated driving functions. Vroom, vroom!

Now, let's take a detour into the mysterious world of family offices. BlackRock, the masters of financial insight, tell us that these secretive entities are shaking in their boots due to the relocation frenzy of major companies. They're carefully examining changes in their investment portfolios, especially in Mexico. Mergers and acquisitions seem to be the talk of the town, and these family offices are becoming more nimble than a nimble-footed jaguar. Some are pondering the art of rebalancing their portfolios, while others are snuggling up to investment-grade government bonds. And if that's not enough, many believe that the key to long-term returns lies in the embrace of private assets. The times, they are a-changin'!

Now, let's dive into some spicy news from the financial realm. The Mexican government, in a surprising twist, has declared that they're no longer interested in buying Banamex. Yes, you heard that right! Presidential spokesman Jesús Ramírez delivered the news, leaving the public scratching their heads in confusion. What could have changed their minds? It's a mystery as deep as the Mayan ruins!

In another twist of fate, Pemex, the crown jewel of Mexican oil, has decided to cut its prevention funds by a staggering 48.3 percent. Ouch! In the first four years of the current administration, Pemex's investment to undo damages and prevent accidents has been slashed. Safety first, folks, or maybe not in this case!

Now, let's cast our net into the world of aquatic wonders. Did you know that tilapia production in Mexico is on the rise? Each year, it swells by a respectable 3 percent. However, here's the twist: most of the tilapia consumed in Mexico is imported. Cue the gasps! The National Council of Feed and Animal Nutrition Manufacturers (Conafab) spilled the beans, revealing that Mexico produces around 100,000 tons of tilapia annually. But guess what? To meet the local consumption of a whopping 215,000 tons, they have to rely heavily on imports, mainly from China. Looks like Mexico needs to reel in its supply of this delicious fish!

Hold on tight because we're about to hit the final stretch! Transporters in Mexico better watch out because failure to comply with the supplement to the CFDI could cost them a pretty penny. And by a pretty penny, we mean fines of up to 112,000 pesos and a potential 6-year imprisonment. That's quite the fine frenzy! It's a stern reminder to cross all the T's and dot all the I's, folks.

Last but not least, we have some disgruntled business owners in Guerrero. The blockades on the Autopista del Sol have brought around 400 businesses, hotels, and restaurants to their knees. The Concanaco cried foul, denouncing the economic impact of these barricades. Let's hope they find a solution and let the wheels of commerce keep spinning!

And there you have it, amigos and amigas! The Mexican business landscape is full of surprises, investments, fishy news, and fine frenzies. Stay tuned for more wild rides in the world of business, because Mexico never fails to keep us on our toes!