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On May 3, 2022, a gala dinner was held to commemorate 60 years of diplomatic relations between Mexico and Korea. Intercam was honored to be the sponsor of such a major event, which was held at the Four Seasons Hotel in Seoul and was attended by leading political personalities, as well as from the business

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The Top *Powell committed to carrying out interest rate increases until there is “clear and convincing” evidence of a decrease in inflation. *Banxico won`t necessarily replicate the FED`s monetary actions: Gerardo Esquivel. *Inflation in Europe became more moderate at 7.4% annual in April. *Finland and Sweden officially sent requests to join NATO; Turkey opposes their

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The Top *Job creation in the United States exceeded estimates during April (428k vs 391k e.); the unemployment rate remains at 3.6%. *Fixed investment in Mexico decreased during February (-3% monthly; 1.5% annual); private consumption increased 1.3% monthly (9.9% annual). *Interest rates in Europe could increase to 0% by the end of the year: Francois

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The Top *No surprises regarding OPEC+: It will increase production in 432 thousand daily barrels in June. *Ukraine wants EU sanctions to include a total embargo on Russian energy. *The Bank of England increased the interest rate (1%) and expects a recession in 2023 as inflation could reach double digits. *Package to fight inflation and

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The Top *The US manufacturing ISM points towards a stronger than expected slowdown in the sector during April (55.4 vs 57.6e.). *IMEF indicators confirmed that Mexico´s economy maintained its rate of growth in April. *Biden administration is considering decreasing Trump era tariffs on Chinese products in order to lighten inflationary pressures. *Germany backs potential Swedish

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The Top *Production in the European manufacturing sector became stagnant in April. *China`s economy receded in April due to quarantine measures implemented in the country (Composite PMI 42.7). *Inflation could increase more than central banks expect and affect estimates: Kenji Okamura, IMF. *Budgetary revenue increased 2.2% for Mexico`s government in the 1Q22 despite a decrease

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The Top *Mexico`s economy grew slightly less than expected in the 1Q22 (0.9% quarterly; 1.6% annual). *Inflation in Europe once again logged a record level in April (7.5% annual) and put pressure on the ECB; underlying inflation increased to 3.5%. *Slow growth was logged in Europe in the 1Q22 (0.2% quarterly; 5% annual) due to

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The Top *US GDP surprisingly contracted during the 1Q22 (-1.4% vs 1.1%e.). *Inflation in Spain surprised to the downside during April (8.3% annual vs. 9%e.); inflation in Germany continues to increase (7.8%). *The dollar (DXY) reached its highest level in 5 years in light of higher interest rate expectations in the United States. *Mexico´s unemployment

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The Top *Mexico`s exports decreased (-) 2.74% in March after extraordinary growth in February; at an annual pace, exports increased 20.9%. *Russia blocks the supply of gas to Poland and Bulgaria until its paid with rubles; the price of gas in Europe increased 24%. *Xi Jinping committed himself to increase infrastructure spending in order to

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The Top *Mexico´s government will seek to reach an agreement with the private sector in order to halt the rise in prices among at least 25 products of the basic food basket. *Retail sales in Mexico increased more than expected during February (0.8% m/m; 6.4% annual). *In the United States, 4 out of 10 small

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