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Mexico’s peso could strengthen further: Finance Minister

Mexico’s peso is “quite competitive” and could strengthen further despite likely bouts of volatility, said Finance Minister, Jose Antonio Meade. “Conceptually, there is probably still room for some appreciation.”The current exchange rate is better aligned with the country’s economic fundamentals, he added. The peso slid to a record low in early January. “What we saw at

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Javier Duarte’s Properties

The Ex-Governor of Veracuz, Javier Duarte during his term in office (2010-2016) is accused of illegal enrichment, organized crime and money laundering. An audit identified that just in the year 2015, $484 million pesos assigned to education programs “disappeared” – the money was spent on fake payments. After his detention last weekend in Guatemala and as part of

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NAFTA renegotiation delayed

The absence of a U.S. Trade Representative is delaying the start of Nafta negotiations with Mexico, a top official from the Latin American nation said.  Without the lead U.S. trade negotiator in place, Mexico doesn’t expect the White House to give Congress the 90 days of notice it needs to open formal talks on the

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Odebrecht scandal could hit Pemex

A U.S. judge on Monday ordered Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities. Odebrecht, along with affiliated petrochemical company Braskem SA, pleaded guilty to U.S. bribery charges in December. U.S. authorities

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China Southern Airlines launches first flight to Mexico

China Southern Airlines has flown its inaugural Guangzhou to Mexico City flight, via Vancouver, the first route operated by a domestic Chinese carrier to the Latin American Nation. China’s interest in Mexico, including tourism and investment, has been on the rise in recent years. In 2016, 74,300 Chinese tourists visited Mexico, up 33.5 percent from

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European Union & Mexico Talks

The European Union on Friday (April, 7th) concluded its latest round of trade negotiations with Mexico, focusing on sustainable development, transparency, services and investment. “We have almost the whole text of the agreement on the table. Before this round we had discussed the trade in goods, SMEs and competition,” EU sources said. The original Global

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First comments about the 2018 Mexican Presidential Elections

“Between individuals, as between nations, peace means respect for the rights of others.” famous quote of Mexican President Benito Juarez (1806-1872) Speaking with senators, U.S. Secretary of Homeland Security John Kelly agreed with Republican Senator John McCain’s view that “if the election were tomorrow in Mexico, you would probably get a left-wing, anti-American president of

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Amigos to Canada with $1.6B con Vacaciones!

The American tourism industry could be facing a new phenomenon: waning interest in the traveling to the United States. After decades of sitting pretty as a bucket list destination, the stars and stripes might be on their way out. Experts warn that anti-immigration rhetoric as well as confusing travel and electronic bans have dampened foreign

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Texas landowners against the border wall

Ranchers and landowners from the Texas Wildlife Association (TWA) announced their opposition to a Texas-Mexico border wall last week, supporting some new barriers but not a proposed 151-mile-long, 30-foot-high stretch of border wall through Big Bend. “Only a president from New York could think we need to spend public money building a 30-foot-high wall where

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Jobs are heading back to Mexico once again

The flow of manufacturers setting up shop south of the border dwindled to a trickle, but now the the pace is picking back up: Illinois Tool Works Inc. will close an auto-parts plant in Mazon, Illinois, this month and head to Ciudad Juarez. Triumph Group Inc. is reducing the Spokane, Washington, workforce that makes fiber-composite parts

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Nayarit Attorney General accused of narco-trafficking

Nayarit’s Attorney General Edgar Veytia was arrested on Monday at the U.S.-Mexico border south of San Diego for smuggling and trying to distribute drugs following charges filed by the state of New York in early March. Veytia, also known as “Diablo,” “Eepp,” and “Lic Veytia,” was indicted on Tuesday on grand jury charges of international conspiracy to

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Grupo Mexico will consolidate as US railway operator

Grupo México, a mining conglomerate which owns Mexico’s biggest railway network, has agreed to buy Florida East Coast Railway Holdings Corp (FEC) for $2.1bn . The deal “positions it immediately as a consolidated railway operator in the US, adding a fundamental line in Florida to existing operations in Texas,” the company said in a statement

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Mexico could be looking for another corn supplier

Mexico, the world’s biggest buyer of US corn, is considering offering duty-free access to Brazilian and Argentine maize as an alternative to American imports in a move that could have big consequences for US farmers worried about NAFTA and the tax agenda. Mexico at present imports 98% of its corn from the US, and total US

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Mexican inflation jumps!

Mexico’s annual inflation rate rose at its fastest pace in nearly 8 years in early March, prompting central bank chief Agustin Carstens to hint at higher interest rates to combat an inflation “bubble” that he said, would subside later in the year. The headline inflation rate for the year through mid-March was 5.29%. The figure

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Two refineries will be built in USA to export gasoline to Mexico

Experts have warned of Mexico’s growing dependence on the US for energy products, and two new US refineries are being built to export even more gasoline,  liquefied gas and diesel to Mexico. The first one is Raven Petroleum Project , a Texans- based company, which aims to refine a capacity of 55,000 barrels per day of

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