Latest news with #finance
Yahoo
an hour ago
- Business
- Yahoo
Mexico raises $12bn through debt offering to aid state oil company Pemex
Mexico has reportedly placed $12bn (224.29bn pesos) in a debt offering aimed at supporting Petroleos Mexicanos (Pemex), the country's state oil producer, according to a Reuters report, citing the country's Finance Ministry. The Finance Ministry announced the move, which involved pre-capitalised securities, or P-Caps, to address Pemex's financial obligations and upcoming debt payments for 2025 and 2026. The demand for the dollar-denominated securities was robust, with total interest reaching $23.4bn, which allowed Mexico to exceed its initial $10bn target. President Claudia Sheinbaum's administration is committed to bolstering Pemex's financial situation, as the company is burdened with substantial debts to suppliers and creditors, amounting to $98.8bn in financial debt and $22.79bn owed to providers by the end of the second quarter. To achieve a production goal of 1.8 million barrels per day, Pemex executives have acknowledged the necessity for mixed contracts with private companies and ongoing government support. Earlier in March, Pemex reportedly sought financing from businessman Carlos Slim to fund development projects in two significant oil and natural gas fields. Negotiations are under way for a joint operating agreement in the Zama offshore field. Slim who is also considering a stake in the Ixachi onshore natural gas field, is potentially providing the investment needed for Pemex's share. Additionally, Pemex is planning a corporate restructuring to cut costs and enhance efficiency. The strategy includes eliminating 3,114 tenured positions, approximately 28% of its operational personnel budget for the year, according to the company's documents. This proposal is expected to save around 10.5bn pesos, contributing to the company's efforts to stabilise its finances and increase oil production. "Mexico raises $12bn through debt offering to aid state oil company Pemex" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Bloomberg
an hour ago
- Business
- Bloomberg
HSBC Misses, UBS Beats, Tsunami Reaches Hawaii, More
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Zawya
2 hours ago
- Business
- Zawya
Scope Markets appoints Mohanad Yakout as senior market analyst for the MENA region
Dubai, United Arab Emirates – Scope Markets, a leading provider of multi-asset trading solutions, is pleased to announce the appointment of Mohanad Yakout as Senior Market Analyst for the Middle East and North Africa (MENA) region. With certifications from CISI, IFTA (CFTe), and CMT Level 2, and a degree in Finance & Investment, Mohanad's deep knowledge of global and regional markets spans both macroeconomic and technical analysis as well as strategic client engagement. In this role, Mohanad will deliver high-quality insights to support clients within the MENA region and beyond. Joshua Mahony, Chief Market Analyst at Scope Markets, commented: 'Mohanad brings a rare combination of analytical depth and real-world client impact. His ability to deliver timely, multilingual insights across multiple channels reinforces our commitment to providing best-in-class support for traders and partners.' Mohanad is known for producing market reports, technical outlooks, and live updates in both English and Arabic, making him an important voice in regional and international financial media. He has served as a market spokesperson on platforms such as CNBC, Bloomberg Asharq, and Al Arabiya, where he delivers real-time commentary and strategic analysis on key global events. Mohanad Yakout, Senior Market Analyst at Scope Markets, added: 'Joining Scope Markets is an exciting next step. 'The firm's focus on transparency, research, and client empowerment matches my own approach to helping traders and partners navigate markets with clarity and confidence.' Scope Markets continues to broaden its appeal to clients in the MENA region, strengthening its existing offering, which includes access to regional index pricing on UAE equity exchanges, pricing on gold and silver CFDs in non-USD denominated contracts, local language customer service facilities and funding in local payment options. By expanding its research capabilities in the native language of the region, Scope Markets reinforces its dedication to serving the unique needs of MENA investors and deepening its presence in one of the world's most dynamic financial markets. As part of these efforts, Mohanad will contribute to regional event and media appearances, market publications, and platform-integrated commentary—delivering insight that helps clients act decisively across asset classes in both Arabic and English. About Scope Markets Scope Markets is a brand used by a diversified financial services group providing online trading facilities and institutional brokerage solutions to customers across the globe. Offering access to multiple asset classes and instrument types across both mobile and desktop platforms, Scope Markets is a trusted partner delivering customer-centric solutions from a single venue. The Group is regulated in multiple jurisdictions and supports customers worldwide.
The Standard
2 hours ago
- Business
- The Standard
South Korea officials, business leaders join last-ditch push for US trade deal
South Korean Finance Minister Koo Yun-cheol speaks ahead of his departure to Washington to meet U.S. Treasury Secretary Scott Bessent, at the Incheon International Airport in Incheon, South Korea, July 29, 2025. Yonhap via REUTERS
Yahoo
a day ago
- Business
- Yahoo
Your Daily FinanceScope for July 29, 2025
The best things in life are free, but we could all use some extra cash. Let us lead you to the land of green with our daily finance horoscope! Aries It's more than just karma. As much as you want to put yourself first, you'll ultimately get a bigger pay off if you regard the needs of others instead. Money is just the start. Taurus Back to your boring, dull routine -- with a twist. Strange how anxiety has put a fire under you. The same old, same old suddenly has more urgency than you imagined it could. You have no interest whatsoever in being lazy. Gemini You had enough time for fun, and now it's back to focusing on more weighty matters. You're clear-headed and ready to address whatever financial issues are before you without getting overwhelmed. Cancer When things are not going smoothly, they tend to grab your attention. Issues around the home might be on your mind, but they shouldn't be under your nose. Focus on a financial partnership instead. Leo There are many reasons to remember a date, and a romantic anniversary is just the most cliche. Today could be a meaningful one if you play your cards right. Don't let it become just one of many others in a meaningless parade. Discover why 2022 is the year you've been waiting for with your 2022 Premium Horoscope Virgo You could reach for your wallet without thinking. Impulse buys are out, in case you still need to be told. You'll get a quiver of an urge, but nothing you can't manage to resist. Libra Balancing the books is just the beginning of the Herculean task ahead. That's okay, because you have the high energy you need to take it on, not to mention the iron. Make sure you also have the softness in your heart to go with it. Scorpio You need some time alone to think. Tossing ideas back and forth will only get you so far. When this amount of money is in the balance, nothing but the thinker's pose will do. Sagittarius You need to make your own list and check it twice. Once you're sure of exactly what you want, you'll have an easier time of getting it. Money should be no object, at least during this preparation time. Capricorn No one is getting a pay raise any time soon. In fact, many around you are taking home less now than they did a year ago. That doesn't mean you should settle for less than you're worth, but do tip your hat to the new culture of frugality. Aquarius Your life has taken quite a few steps backwards, but that's not all bad. It's a whole new ballgame for everyone and a chance to start fresh on many levels. Consider it the start of a new school year. Pisces Trying to settle an old balance due you is futile. It's like trying to get blood from a stone. If ever there was a time to wipe the slate clean, this is it. Do it mentally, too. What does the moon say about your emotional nature? Master your emotions with a Natal Moon Report! Solve the daily Crossword
