A fake news campaign at the end of 2023 caused Banco Azteca a 6 percent drop in customer deposits. At the end of 2023, a fake news campaign about the alleged bankruptcy of Banco Azteca caused panic among customers, leading them to withdraw their money and causing a 6 percent drop in deposits, said Alejandro […]
Economic Influx from Eclipse to Equal Half-Year Tourism Activity in Durango
The economic influx from the solar eclipse will be 500 million pesos The economic influx from the Total Solar Eclipse across the 10 municipalities of Durango will be 500 million pesos, practically half of what the state receives in a year from tourism activity. It is estimated that there will be more than 20,000 visitors […]
US Concerned About Mexico’s Stimulus Plan to Boost Nearshoring
Mexico issued a decree establishing national tax benefits for investment in certain exporting sectors In its 2024 Foreign Trade Barriers report, the White House Trade Representative expressed concern about the SHCP decree from last October, which proposes benefits for the relocation of companies across various industries. The United States government expressed concern about the export […]
The U.S. and Mexico will team up on an AI chip supply chain
The United States is joining forces with Mexico to strengthen the AI chip supply chain, with Mexico set to evaluate its semiconductor capabilities for future collaborative projects. Amidst the intensifying competition in AI chip production with China, the U.S. is seeking to enhance its manufacturing capabilities by partnering with Mexico. This initiative, announced by the […]
Canada, Sweden, and Germany Overtake the United States as the Largest Investors in Querétaro
Canada, Sweden, and Germany are the countries with the highest foreign direct investment (FDI) in Querétaro during 2023, dethroning the United States from the top ranks. Canadian investment amounted to $338.5 million, 30.6% of the total FDI received by the state in 2023 ($1,107.1 million), making it the origin of the most capital invested in […]
Querétaro’s GDP growth was 4.1%, higher than the national average; stated Armando Ríos Piter
Querétaro has become the driving force of the regional economy, as the national GDP growth was 3.3%, and in the case of Querétaro, it was 4.1% in the third quarter of 2023, emphasized Armando Rios Piter, Director of Institutional Relations at Actinver. ‘It tells us that Querétaro, once the pandemic has passed, has once again […]
Due to its economic strength, Mexico attracts a wave of national and international attention
Signs of confidence in the country’s economic direction come from both abroad and within, and are strengthened by the solidity of the government program presented by the frontrunner in the polls for the presidency of the Republic, with expectations of an average annual growth rate of 3 percent. There is agreement in the forecasts of […]
Price of the dollar TODAY March 15, 2024: peso registers its best level in 8 months
The dollar is trading this morning below 16.70 pesos, its lowest level so far in 2024 The Mexican peso begins this Friday, March 15, appreciating against the dollar, reaching lows not seen in eight months in the spot market in Mexico. The dollar is trading at 16.67 pesos per unit (5:54), its lowest level so far in 2024 and a […]
The Mexican peso is the world’s best-performing major currency this year
Investors are pushing the world’s most expensive currency to ever more dizzying heights, shrugging off the risks from interest-rate cuts, divisive elections, and analyst warnings. Mexico’s peso is the world’s best-performing major currency this year and the highest ranked on a list of real effective exchange rates — a measure of a nation’s competitiveness — […]
Sinaloa leads job growth in Mexico during February
Culiacán, Sinaloa. With a monthly employment growth rate of 2.5% in February, Sinaloa was placed in the number 1 position nationally, reported the Ministry of Economy. The most recent report from the Mexican Institute of Social Security confirms that this increase, compared with January, exceeded the national rate, which was 0.7%. In February, Sinaloa created […]