Walmex to invest $6 bln in Mexico in 2025
Speaking virtually at the Mexican president's daily press conference, Walmex Chief Executive Office Ignacio Caride said the investment would create 5,500 direct jobs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
2 hours ago
- Reuters
South Africa's inflation rises to 3.0% y/y in June, as expected
JOHANNESBURG, July 23 (Reuters) - South Africa's headline consumer inflation rose to 3.0% year on year in June from 2.8% in May (ZACPIY=ECI), opens new tab, statistics agency data showed on Wednesday. Economists polled by Reuters had predicted inflation would increase to 3.0% in annual terms, at the bottom of the central bank's 3% to 6% target range. The South African Reserve Bank holds another rate-setting meeting next week. The bank has cut its repo rate (ZAREPO=ECI), opens new tab twice this year, including at its last meeting in May. In month-on-month terms inflation was at 0.3% in June, compared with 0.2% in May (ZACPI=ECI), opens new tab, Statistics South Africa said.
Reuters
2 hours ago
- Reuters
Nigeria's Senate approves President Tinubu's $21 billion external borrowing plan
ABUJA, July 23 (Reuters) - Nigeria's Senate has approved President Bola Tinubu's plan for more than $21 billion in foreign borrowing to plug shortfalls in the 2025 budget, a senior lawmaker said late on Tuesday. Tinubu asked parliament to approve the borrowing in May. "With this approval we now have all revenue sources, including loans, in place to fully fund the budget," Solomon Adeola, Senate chair on appropriations, told reporters.
Reuters
4 hours ago
- Reuters
Iberdrola launches $5.9 bln capital increase to fund grid investments
MADRID, July 23 (Reuters) - Europe's largest utility Iberdrola ( opens new tab on Wednesday launched a 5 billion euro ($5.87 billion) capital increase to help fund investments in power grids in Britain and in the United States. The company plans to increase its annual investments to around 15 billion euros from a current level of around 12 billion euros, building on its shift towards upgrading and expanding power grids in countries where returns are steady and healthy, such as the U.S. and Britain. The cash raised, along with debt, operating cash flow, asset sales and partnerships will help fund the new strategy the company will present in September. The shares offered through a process of accelerated book-building were set to be priced at 15.10 euros, one of the bookrunners said. Iberdrola's share price closed at 15.895 euros on Tuesday. Spain's stock market regulator suspended trading of Iberdrola's shares on Wednesday morning. Separately, the utility said first-half net profit declined 14% from a year earlier, when results included the sale of gas assets in Mexico. Net profit for the period was 3.56 billion euros ($4.18 billion) compared to 4.1 billion euros a year earlier. Excluding one-offs, profit was up 20%, it said. ($1 = 0.8523 euros)
