Mexican Foreign Minister Marcelo Ebrard and his Saudi Arabian counterpart on Wednesday agreed to strengthen bilateral economic relations on the first day of the diplomat's 10-day tour of the Middle East and India, Mexico's government said, Reuters reported. Ebrard and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud discussed investing in tourism and innovation, highlighting the need for a direct air route between Mexico and Saudi Arabia, the foreign ministry said in a statement.

From the pandemic to Europe’s largest military conflict since World War II, it seems the world is moving from one extraordinary period to another. The conflict in Europe has generated a maze of rapid legal, political and economic responses from authorities around the globe. Those actions are rippling through capital, markets and boardrooms as businesses grapple with how to respond. Join ABI and a panel of experts to discuss where we are headed and what businesses should consider.

John Aquino, the former president of a major and now bankrupt Ontario construction contractor, plans to appeal a provincial court ruling that puts him and his associates on the hook for $33 million drained from the company, according to his attorney, the Engineering News-Record reported. The Ontario Court of Appeal upheld on March 10 a previous court decision that ordered Aquino, former president of Bondfield Construction Co. Ltd.

The apartments typically go unused, instead acting as an investment vehicle to hold onto money, Africa Business Insider reported. They're often held through a trust or shell company to hide the identity of the true owner. In a small city in South Florida called Sunny Isles Beach, luxury condos tower over the Atlantic Ocean. But high above the busy streets, not all of the city's multi-million dollar apartments light up at night.

A work stoppage at Canadian Pacific (CP) Rail has started, and the timing is unfortunate, says one employer group, HRReporter.com reported. “The timing could not be worse for our members,” say Corinne Pohlmann, senior vice-president of national affairs, and Jasmin Guenette, vice-president for national affairs, at the Canadian Federation of Independent Business (CFIB).

Grupo Aeromexico announced today that it has completed its financial restructuring process, officially exiting chapter 11 under which it voluntarily entered in June 2020 in the midst of the worst crisis in the airline industry unleashed by the COVID-19 pandemic, AviaciOnline reported. Since then, the company has been going through a series of changes in the company’s structure and multiple negotiations with creditors, workers and institutions. According to Aeromexico, the value of the capital after the restructuring is approximately USD 2,564 million.

A prominent Ottawa business expert is predicting a wave of bankruptcies in the coming months as surging prices at gas pumps and grocery stores prompt Canada’s central bank to further raise its benchmark interest rate in a bid to put the brakes on inflation, the Ottawa Business Journal reported. Ian Lee, an associate professor at Carleton University’s Sprott School of Business, expects the Bank of Canada to impose “multiple” interest rate hikes this year as it tries to rein in an annual inflation rate that climbed to 5.7 percent in February, its highest level since August 1991.

A commodities rally sparked by Russia's invasion of Ukraine will push Canadian inflation higher for longer, with the headline rate now seen peaking at or above 6%, forcing the central bank to raise interest rates more aggressively, economists told Reuters. Canada's inflation rate has already surged well above the 5.1% that the Bank of Canada forecast for the first quarter in January, highlighting the tough road ahead to get price growth back down to the 2% target.