Friday, June 14, 2024

MND_BUSINESS

PCB board

Mexico looks to prioritize development of semiconductor industry

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The country is further solidifying efforts to promote the semiconductor industry as part of the North American supply chain.
Peso and dollar bills

Peso plummets to nearly 19 to the US dollar, then makes...

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Governor Victoria Rodríguez said Wednesday that while the Mexican economy is solid, the Bank of Mexico could take action in case of "extreme volatility."
Puebla Governor Sergio Salomon and Audi Mexico President Tarek Mashour shaking hands in front of a temporary wall with the Audi logo.

Audi to invest over US $1B to build EVs in Puebla

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Audi says it will expand an existing Puebla factory in order to begin manufacturing the German automaker's electric vehicles in Mexico.
Porsche car on display in Mexico

Car sales in Mexico continue to climb, with best May in 7 years

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Industry experts forecast that around 1.5 million light vehicles will be sold this year, approaching the all-time record of 1.6 million in 2016.
Metalsa manufacturing plant in Mexico

Auto parts exports to the US from January to April worth US $28.37B, a...

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The U.S. is buying more Mexican-made auto parts, with Mexico's share of the U.S. market also increasing to 42.8% in the first four months of the year.
Federal tax authority office in Mexico City

Mexico’s federal tax revenue reached record high in first 5 months of 2024

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Improved tax collection by the federal government has paid off, with revenue exceeding the government target from January to May.
Claudia Sheinbaum and AMLO hold their hands in the air in the door of Mexico's National Palace.

Peso still reels from Mexico’s elections, starting the week at over 18 to the US dollar

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The peso fell to as low as 18.65 to the dollar on Monday before recouping some of its losses, Bloomberg data shows.
Querétaro

Foreign and multinational companies announce plans to invest over US $39B in Mexico

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Amazon Web Services, DHL, Evergo and Daikin are a few of the companies that have announced major investments so far this year.
A model of Saguaro Energía, Mexico Pacific's planned natural gas liquefaction plant.

US-based Mexico Pacific announces plans to invest another US $15B in Mexico

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It's one of the largest-ever investments in Mexico from a single company.
Blue cables, like those manufactured by Chinese telecoms manufacturer YOFC, plug into a computer.

Chinese telecoms supplier YOFC opens first plant in Mexico

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The Jalisco plant will manufacture optical fiber, cables and other accessories for the Mexican telecommunications industry.
mexican money in a cash register

Annual headline inflation rate went up for third consecutive month in May

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However, the annual core inflation rate, which excludes volatile food and energy prices, has maintained its 16-month decline to reach 4.21%.
BYD's initial float on the Mexican Stock Exchange will be 1.1 billion shares.

Chinese EV manufacturer BYD to be listed on Mexican Stock Exchange

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If approved by the BMV, the price for BYD shares will be 230.6 Hong Kong dollars (about US $30), starting on Monday.
Mexico City aerial view

Mexico is ‘a country on the rise’ says head of Oxford Business Group, Andrew Jeffreys

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In a recent interview, Jeffreys said Mexicans "shouldn't lose sight" of the economic progress that's been made in the last 30 years.
Press conference with Morena congressional leader

Peso falls after Morena congressional leader announces reform approval plans

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The peso declined rapidly by over 2.7% to the US dollar on Thursday afternoon in response to the statements from Deputy Ignacio Mier.
Shipping containers at Manzanillo port

April was Mexico’s best month ever for US export revenue as bilateral trade booms

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Mexico's total share of the U.S. import market was up to nearly 16% in the first four months of 2024, continuing to surpass both Canada and China.
Rogelio Ramírez de la O and Claudia Sheinbaum

Sheinbaum and Finance Minister try to calm markets with economic commitments

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The peso and the Mexican Stock Exchange both fell after the electoral victory of Sheinbaum and the Morena coalition, but have started to recover today.