Microsoft Plans US$1.1 Billion Investment in MexicoBy Andrea Villar | Fri, 02/21/2020 - 17:35
This week President Andrés Manuel López Obrador puffed its chest while announcing on Thursday morning that Microsoft would invest over US$1 billion over the next five years in Mexico.
"I am excited to announce that over the next five years, US$1.1 billion will be invested in Mexico, focused on expanding access to digital technology for people and organizations across the country," Nadella explained in a video presented at AMLO’s morning conference.
The big tech will invest in training labs and programs to empower all Mexican organizations and citizens. The company also plans to establish the first region of data centres in Mexico through the open-source cloud that benefits public and private institutions.
The latter is accompanied by an educational program that includes the installation of three data laboratories and the installation of digital classrooms in collaboration with the Mexican Businessmen Council (CMN) and the largest companies in the country. The goal is to share experiences of digital transformation, appointed President of Microsoft in Latin America César Cernuda Rego.
Microsoft will also support the Mexico Azul environmental organization to preserve sharks through artificial intelligence.
Lopez Obrador, speaking during his daily morning conference, said the investment showed Mexico was an attractive investment destination, touting a strong local currency, stable inflation, and prudent debt management by the government.
However, all of this will not come for free. According to sources consulted by El Financiero, the government has an upcoming tender about the software used in its offices. “It is known that there is a very good software tender intended to renew the Mexican government’s licenses. The government has to buy things too because (the investment) is not free”, said the newspaper Director General Enrique Quintana in an interview for W Radio.
More news below:
HP adopted a "poison pill" to help fend off Xerox's attempt to buy the computer and printer maker. The poison pill gives shareholders the right to buy more shares at a discount if any entity acquires 20 percent of outstanding shares, diluting the group's stake, said Reuters.
Plans by the US to create a 5G rival to Huawei could be a "challenge," one of the Chinese firm's executives told CNBC, as American lawmakers call for alternatives to Huawei’s next-generation networks. “They have engaged in a propaganda campaign to make people around the world think that they are the only alternative,” said America’s top cybersecurity official Robert Strayer.
Samsung Electronics has a new board chair in the shape of Park Jae-wan, South Korea's former finance minister, who was already a non-executive director at the company. Park's predecessor, Lee Sang-hoon, belatedly quit last week after having been sentenced to 18 months in jail back in December for sabotaging labor union activities, as reported by ZDNet.
The US Equal Employment Opportunity Commission has opened an investigation against Google for pregnancy discrimination against an employee, CNBC reported.
Uber Technologies will shut down its office in downtown Los Angeles and cut about 80 jobs. Separately, Uber and food delivery rival DoorDash and Postmates have discussed various merger combinations over the past year although a deal has not been reached, according to The Wall Street Journal.