Latin America Pulse for July 29: Mexico IT Crisis, Colombia Oil Shake-Up

Rio Times · Latin America

On Wednesday, Latin America wakes up suspended between a record-smashing trade high and the gory details of a corporate digital disaster, a mood that captures a continent pushing to modernise while tripping over the wiring.

| Instrument | Level | Session |
|---|---|---|
| Ibovespa (Brazil) | 176,565 | +0.70% |
| S&P/BMV IPC (Mexico) | 67,308 | +0.22% |
| S&P IPSA (Chile) | 10,880 | -0.77% |
| S&P Merval (Argentina) | 3,256,362 | -1.48% |
| COLCAP (Colombia) | 2,301 | +0.80% |
| USD/BRL | 5.1212 | +0.09% |
| USD/MXN | 17.431 | -0.11% |

Source: EODHD close, 2026-07-28. Figures rendered directly from the feed.

The Continent’s Mood Today

Latin America’s pulse on July 29, 2026, is a jagged line of extreme highs and deep, technical lows. We scan the hemisphere and find a Mexico basking in the glory of a US$72.6 billion export month even as one of its most iconic food giants admits an IT upgrade just erased nearly all its quarterly profit.

It is a day that feels less like a single mood and more like a split screen: on one side, the brute physicality of ports, lithium, and deep-water oil wells finally getting approved; on the other, the silent glitch of a botched SAP migration that reveals the fragile digital spine holding up the real economy.

Mexico – The Anxious High of a Record-Breaker

Mexico is dizzy with contradictory data. The country just notched its best export month ever, with foreign sales rocketing 34.4% year-on-year to US$72.55 billion in June, generating a fat trade surplus of US$4.1 billion. ‘Mexico breaks another export record,’ the business press trumpets, marvelling at the manufacturing machine that keeps humming despite constant trade friction with the United States.

But right under that shiny headline, Grupo Herdez has just delivered a gut punch to investor confidence. The maker of Doña María mole and canned vegetables saw its net profit crash 85.9% to just MXN 79 million because a new enterprise software system (ERP) went live on April 1 and promptly choked its billing and distribution. CEO Héctor Hernández-Pons Torres had to explain that ‘facturación anticipada’ in the first quarter had masked the coming pain, but an operating margin collapsing to a negative -2.8% feels less like a transition and more like a corporate heart attack. The whiplash defines the national mood: a country that can sell cars and avocados to the world at a record pace is also a place where a single botched software migration can evaporate a billion pesos in value overnight.

Live Market IntelligenceMexico — Live Market Board

Rio Times · Live Market Intelligence

Live Company IntelligenceEcopetrol SA ADR — the full investor dossier

Wall Street view

1Buy

6Hold

4Sell

$13.38· +6% vs 200-day

Valuation & profitability

Price & risk

$7.8852-wk high

$17.75

Revenue trend · 6y

$111.48T

Ownership

Dividend

What Ecopetrol does.Ecopetrol S.A. operates as an integrated energy company. It operates through four segments: Exploration and Production; Transport and Logistics; Refining and Petrochemicals; and Energy transmission and Toll Roads Concessions. The Exploration and Production segment engages in the exploration and production of oil and gas. The Transport and Logistics segment is involved in…

Mexico — Live Market Board

+0.18%

176,564.75

+0.70%

67,304.62

+0.18%

10,879.65

-0.77%

3,256,362

-1.48%

2,301.24

+0.80%

57,237.60

—

| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPC MEX | 67,304.62 | +0.18% | +17.91% | 67,183.26 | — | — | — |
| USD/MXN | 17.43 | -0.02% | -7.04% | 17.43 | 17.46 | 17.41 | — |
| WALMEX | 48.74 | +0.70% | -12.27% | 48.40 | 49.75 | 48.08 | 11,381,751 |
| GMEXICO | 209.28 | -0.11% | +74.08% | 209.50 | 211.27 | 204.29 | 5,153,708 |
| FEMSA | 222.17 | -3.83% | +29.03% | 231.01 | 235.35 | 221.51 | 1,818,773 |
| CEMEX | 20.99 | -1.78% | +33.10% | 21.37 | 21.45 | 20.88 | 19,406,836 |
| GFNORTE | 199.12 | +1.37% | +21.79% | 196.43 | 202.01 | 194.41 | 6,642,364 |
| BIMBO | 59.50 | +0.66% | +7.95% | 59.11 | 61.99 | 59.00 | 3,234,608 |
| TELEVISA | 9.86 | -0.20% | +14.70% | 9.88 | 10.19 | 9.73 | 2,162,991 |
| AMX | 22.48 | +0.09% | +32.35% | 22.46 | 22.88 | 22.33 | 19,026,752 |
| GAP | 379.13 | +0.93% | -9.02% | 375.62 | 389.27 | 373.01 | 1,189,060 |
| ASUR | 271.18 | +0.97% | -10.92% | 268.57 | 276.48 | 264.21 | 79,802 |
| OMA | 235.27 | +2.85% | -1.75% | 228.74 | 241.00 | 226.02 | 377,995 |
| KOF | 189.82 | +0.07% | +21.25% | 189.68 | 194.70 | 186.75 | 821,933 |
| GRUMA | 268.00 | -0.20% | -19.51% | 268.53 | 273.46 | 267.04 | 217,236 |
| KIMBER | 40.61 | +1.78% | +17.38% | 39.90 | 41.41 | 39.86 | 2,507,148 |
| AMX ADR | 25.73 | +0.10% | +40.65% | 25.70 | 26.18 | 25.55 | 1,518,048 |

10 of 15names higher.

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Colombia – A Marathon Boardroom Reshuffle in the Oil Patch

Colombia’s political and business elite are reading the tea leaves inside a Bogotá boardroom. After more than 12 hours of deliberation on July 23, the board of Ecopetrol elected Luis Felipe Henao Cardona as its new chairman, replacing Ángela María Robledo, who is stepping down at the end of July for ‘personal reasons’.

Henao, a 46-year-old former housing minister under Juan Manuel Santos, is no stranger to power, but his arrival carries the explicit backing of the current government, El Colombiano notes. The press frames the move as a change in the ‘power map’ of the nation’s most important company. For Colombians, this isn’t just corporate housekeeping; it stirs a deep-seated anxiety that the state oil company—the source of a huge chunk of the nation’s export dollars and fiscal lifeblood—is being buttoned up tighter under direct political control at a time when the energy transition demands long-term technical bets, not short-term political ones. The fear whispered in financial circles is that long-term investment decisions will now pass through an ideological filter.

Chile – Finally, the Port After a 12-Year Wait

In Santiago and Valparaíso, there is an audible exhale of relief laced with the bitter memory of fighting. On July 27, the Committee of Ministers confirmed the Environmental Qualification Resolution for the Terminal Cerros de Valparaiso (TCVAL) expansion, a US$380 million project to expand the country’s second-busiest port. ‘The last major administrative barrier has been removed,’ the approval effectively declares, uncorking a project that had been trapped in environmental evaluation for more than twelve years.

The mood isn’t pure celebration; it is a tired victory. For more than a decade, this project has been a symbol of Chilean paralysis, pitting the needs of a growing logistics hub against fierce environmental protection. Now, with new berths and deeper channels coming, the business pages are finally talking about capacity and competitiveness rather than red tape. That the regional commission COEVA had already given a unanimous thumbs-up in March gave an inkling, but the final ministerial blessing turns the page on a chapter of national procrastination.

Brazil – Telecom Profit Parties and a Logistics Landgrab

Brazil is flexing a kind of steady, unflashy muscle. The mood in the corporate towers of São Paulo is buoyant because the telecom giants are minting cash from the country’s insatiable appetite for fast internet. Vivo just posted a net profit of US$308 million, and TIM Brasil hit a record US$203 million, both riding a wave of mobile data and a frantic fibre-optic rollout across the country’s condominiums.

This consumer-tech glow is matched by a grittier, more physical confidence on the docks. Portonave is pouring R$2 billion (US$392 million) into deepening its Navegantes terminal in Santa Catarina to swallow larger ships, while up in Rio de Janeiro, the Rio Brasil Terminal is already under a R$948 million expansion to boost capacity by over 70 percent by 2029. Brazil is feeling like a country deeply aware it is the continent’s big warehouse and farm, and it is betting hard on widening the doorways to get its soy, iron, and soon, its green hydrogen out to a hungry world.

Argentina – A Pilot Flame of Hope in the Shale

Argentina’s mood is a fragile flicker in the Patagonian wind. The noise in Buenos Aires is permanently deafened by inflation and the dizzying choreography of IMF deals, but out in Vaca Muerta, YPF is quietly working on a new permit for a 12-well, US$160 million pilot.

This specific drilling project represents the kind of news Argentines cling to: a colour other than crisis. It is the promise that the dead rock beneath Neuquén can be converted into the hard currency the country so desperately needs. It isn’t euphoria—the project still needs its official permits—but it is a reason for an engineer in Añelo to set an alarm clock with a little more purpose and for a foreign investor to see, in that US$160 million figure, a government finally giving its energy jewel room to operate, even if the macroeconomic ground is still an earthquake zone.

Bolivia and the Caribbean – Scattered Signals in the Noise

Bolivia picks up a rare positive headline with a US$300 million investment agreement linked to a figure named ‘Paz’. In a country often overlooked and suffering from chronic dollar scarcity, the mere mention of a nine-figure sum triggers a small, private sigh of relief in the business community. Across the Caribbean, Jamaica is causing a quiet groan in the sun-and-sand sector with a hike in the General Consumption Tax (GCT) that threatens to push holiday costs just high enough to annoy budget-watching tourists, while the Dominican Republic hits an electricity demand record of 4,203 MW.

That peak power use doesn’t just mean the air conditioners are working overtime; it is a literal measure of a country straining its grid to keep up with economic activity, a very sweaty kind of growth metric. Together, these fragments remind us that the region’s mood is never monolithic: a Bolivian gas deal, a Jamaican tax bill, and a Dominican blackout scare are small, specific heartbeats in the bigger body of Latin America.

The Shared Mood

The shared feeling across the continent today is one of a painful and powerful modernization. We see it in Chile, where it took 12 years to say yes to a port the economy already needed a decade ago; in Mexico, where a USD $20 billion export machine can be thrown off its axis by a software code glitch; and in Colombia, where renewing the leadership of an oil company feels like a chapter in a political thriller.

For a foreigner holding assets or living here, the message is clear and personal: Latin America is offering spectacular returns for those who can stomach the operational chaos, the political theatre, and the bureaucratic marathons. The continent is not asking you to just invest in its commodities or its consumers anymore; it’s asking you to invest in its ability to fix its own plumbing—literally and digitally—while the ship is already out at sea doing record speeds.

Frequently Asked Questions

Why did Mexico break an export record but Grupo Herdez still lost money?

Mexico’s June export performance, hitting US$72.6 billion, was driven almost entirely by manufacturing—cars, electronics, and machinery—which is concentrated in globally competitive, integrated factories along the US border. Grupo Herdez, meanwhile, is a domestic-focused consumer goods company whose second-quarter sales collapsed 23% after a disastrous migration to a new internal software system (ERP) on April 1 that scrambled its ability to bill and deliver products like canned beans and salsa. The two events show an economy split between a world-class export platform and a domestic market still vulnerable to local operational hiccups.

What does the Valparaíso port expansion mean for Chile?

The final environmental approval for the US$380 million Terminal Cerros de Valparaiso (TCVAL) expansion on July 27 ends a 12-year regulatory saga for Chile’s second-busiest port. In practice, it allows the addition of new berths and deeper access for larger container ships, which should lower shipping costs and prevent the port from losing cargo to competing hubs. The broader national feeling is relief that a major public-private infrastructure project has finally navigated the country’s famously strict environmental review process.

Who is the new chairman of Ecopetrol, and why does it matter?

Luis Felipe Henao Cardona, a 46-year-old former Minister of Housing and independent director, won the board chairmanship after a tense 12-hour meeting in late July. It matters because Ecopetrol is Colombia’s cash engine, and his elevation with explicit government backing has raised fears in the business press that future decisions on oil exploration and energy transition spending will be steered by political rather than purely technical or commercial logic.

Sources: The Rio Times – Mexico Exports Hit Record US$72.6 Billion in June, The Rio Times – Grupo Herdez Earnings Plunge 86% on ERP Migration Snag, El Colombiano – ¿Quién es Luis Felipe Henao, el nuevo presidente de la junta de Ecopetrol?, The Rio Times – Valparaiso Port Expansion Gets Green Light After 12 Years