The stunning views from MISTIQ Pedregal, overlooking the Sea of Cortez and the unique beauty of Cabo San Lucas.(Courtesy: MISTIQ Pedregal)
To invest in real estate in the exclusive Pedregal Cabo San Lucas community – also known as the “Beverly Hills” of Cabo San Lucas – is not only about investing in luxury real estate. It’s about investing in a better quality of life.
With over four decades of providing unmatched living experiences, the community of Pedregal Cabo San Lucas offers an elite investment opportunity in a prime location, just steps away from the Cabo San Lucas Marina.
Rendering of the MISTIQ Pedregal condominiums (Courtesy: MISTIQ Pedregal)
Whether you’re considering investing in a second home or looking to reap the rewards of passive rental income, MISTIQ Pedregal (under construction now) is the perfect choice.
Pedregal Cabo San Lucas, home of hillside villas and exclusive resorts, is a community that boasts an impressive array of architectural styles and designs to choose from, all meticulously built and incorporating state-of-the-art amenities.
Embrace the welcoming lifestyle of this vibrant community and create unforgettable memories with your loved ones on the pet-friendly private beach.
From an early game of tennis or pickleball to indulging in the exquisite cuisine offered at their restaurants, or strolling through the weekly farmers market, Pedregal Cabo San Lucas offers a welcoming lifestyle that will have you enjoying every day from start to finish.
Designed by Jesús Díaz and to be built with the highest quality materials. (Courtesy: MISTIQ Pedregal)
MISTIQ Pedregal is designed by renowned architect Jesús Díaz and will be built with only the highest quality materials. The attention to detail and impeccable taste will be evident in every corner, from the lush gardens to the elegant interiors of each unit.
MISTIQ Pedregal offers a variety of floor plans to choose from, including one-, two-, and three-bedroom units, as well as penthouses and villas. Each unit will be spacious, bright, and designed to maximize the breathtaking views of the marina and surrounding mountains. The open-concept living areas are perfect for entertaining and lead out to private terraces, where residents will enjoy the spectacular sunsets.
The amenities at MISTIQ Pedregal will provide everything you need to live a life of luxury.
Residents will be able to take a dip in one of the two infinity pools overlooking the ocean, unwind in the hot tub, or work up a sweat in the state-of-the-art gym. The complex also features a spa, where you could indulge in a range of treatments, including massages and facials.
Rendering of the interior of a condominium at MISTIQ Pedregal. (Courtesy: MISTIQ Pedregal)
Security is a top priority at MISTIQ Pedregal, with 24-hour surveillance and controlled access. You can rest assured that you and your family will be safe and secure in this exclusive gated community.
MISTIQ Pedregal is not just a place to live, it’s a lifestyle. It’s the perfect place for those who value luxury, privacy, and the beauty of nature. Owning a property in this stunning development is not only a sound financial investment, it’s an investment in your happiness and well-being.
This is one of the rare places on earth where the majestic desert dunes and towering mountains converge with the vast ocean, while the Sea of Cortez, famously called “the world’s aquarium” by Jacques Cousteau, offers a paradise for water sports enthusiasts.
If you’re looking for the ultimate luxury living experience, look no further than MISTIQ Pedregal, which will be completed by late 2024. It’s time to turn your dream of owning a property in Pedregal Cabo San Lucas into a reality.
Canada is satisfied that progress is being made to resolve concerns over the legality of Mexico's energy policy, says minister Mary Ng (second from right). (Mary Ng/Twitter)
Canada’s top trade official has said there is currently no need to escalate the country’s trade dispute with Mexico, citing positive steps by Mexico to engage with Canadian energy companies.
Canada requested dispute settlement consultations with Mexico last July, arguing that President López Obrador’s policy of favoring the state-owned Federal Electricity Commission (CFE) violated the U.S.-Mexico-Canada Free Trade Agreement (USMCA).
The energy dispute centers on Mexican policies that favor the Federal Electricity Commission (CFE). Pictured: the CFE’s Huexca Thermoelectric Plant in Morelos. (Gobierno de Morelos)
But during a trip to Washington this week, Canadian International Trade and Export Minister Mary Ng said she was satisfied with moves by Mexican Economy Minister Raquel Buenrostro to open dialogue with Canadian companies about the legislation.
President López Obrador also met with four Canadian firms in January, reportedly resolving concerns from three of the companies.
“We’re going to be keeping a close eye on this to make sure that the provisions of our trade agreement are being met,” Ng said in an interview on Tuesday. “Ultimately, it’s making sure that the investments down there are met with the predictability of the rules that they’ve got.”
Ng made the remarks during meetings with U.S. trade representative Katherine Tai, in which they discussed working together toaddress mutual concerns about Mexico’s energy policy.
The USMCA free trade agreement has governed trade between Mexico, the United States and Canada since 2020. (Lopezobrador.org.mx)
The U.S. is also holding separate, broader talks with Mexico over energy policy, which have been without resolution for seven months. It was reported in late March that the U.S. was considering issuing an ultimatum to Mexico, threatening to advance the dispute to an independent USMCA arbitration panel.
However, all three countries have been reluctant to advance the dispute, citing the need to cooperate over migration, environment, drug trafficking and border security. Tariffs would also have a severe impact on the US $1.4 trillion of annual trade between the three economies.
Ng did not rule out resorting to arbitration in the future but said that as long as progress is made in dialogue, Canada prefers to hold out for a negotiated settlement.
Early-stage talks are also underway to resolve a separate dispute over Mexico’s proposed ban on genetically modified agricultural imports, over which Canada requested consultations in March.
Mexico emerged as the largest trading partner for the United States in the first quarter of 2023. The country exports a diverse range of goods north of the border. (Secretaria de Agricultura/Cuartoscuro)
Mexico was the United States’ largest trading partner in the first quarter of 2023, with exports of US $115.5 billion, according to figures released by the U.S Census office on Thursday.
Figures for Q1 2023 showed that total trade between the two countries (a combined total of imports and exports) was US $196.7 billion, an 8% increase over the same period in 2022.
Primary exports to the U.S. include refined petroleum, office supplies, automobile parts and integrated circuitry, according to the OED. (Depositphotos).
In March alone, goods from Mexico accounted for 16.1% of U.S. imports — beating out Canada (15.5%) and China (10.1%) — for a total of US $42.8 billion. The figure represents annual growth of 5.9%.
China has topped the list in Q1 of each year since 2009 — with the exception of 2020, when the Covid-19 pandemic saw Mexico take the top spot. But in March, China saw exports drop 35% to US $30.8 billion.
Last year’s top whole-year trading partner, Canada, saw a 7.2% year-on-year drop in exports to the U.S market in March, registering only US $37.6 billion.
U.S. exports to Mexico also rose 2.6%, to US $29.3 billion in March — despite a year-on-year fall of 0.4% compared to 2022. Despite the rise, the U.S. still maintains a US $97 billion trade deficit with Mexico, or 12%, said the Economic Commission for Latin America. This figure has contracted considerably, however, previously standing at 39% in 2020.
A strong peso has buoyed export conditions in Mexico, although some experts are concerned that the exchange rate may remain volatile in the coming months. (Rmcarvalho/Istock)
The recent “super peso” and weakened U.S. dollar have created favorable conditions for export, but credit analysts Moody’s warned that there was some uncertainty surrounding global solvency for financial institutions, as well as volatility in the bond market that could lead to further fluctuations in exchange rates.
Mexico has become a nearshoring hub, with businesses from Asia rushing to set up operations in the country, taking advantage of the favorable investment conditions and proximity to the North American markets. This has led to a boom in manufacturing, especially in the automobile industry, but also increasingly in data, computing and home electronic goods, which are often exported to the United States.
Top exports from Mexico in 2023 included refined petroleum, auto parts and accessories, office machinery and integrated circuits, according to the Observatory of Economic Complexity.
Various universities around the country participated in a strike on Tuesday in response to the new legislation. (Instituto de Biotecnología de UNAM/Twitter)
The approval by federal Congress of a bill that has significant ramifications for Mexico’s science and research sector triggered a strike this week as well as criticism from numerous members of the scientific community.
In the early hours of last Saturday morning, senators with the ruling Morena party and its allies voted in favor of the creation of a new General Law on Humanities, Science, Technology and Innovation (LGHCTI), which was initially proposed by President López Obrador last December.
The “fast-track” Senate meeting on Saturday held at an alternative venue. (Galo Cañas Rodríguez / Cuartoscuro.com)
The bill, one of about 20 pieces of legislation approved during a frenzied Senate session that began Friday night, was subsequently sent to the president for promulgation.
There was no debate before the vote took place, and opposition senators didn’t attend the legislative session, which was held in an alternative venue due to an unrelated protest in the Senate chamber.
According to the National Council of Science and Technology (Conacyt), approval of the LGHCTI is a “milestone in the history of the country” as the law protects the “human right to science and knowledge.”
Conacyt will become the National Council of Humanities, Science and Technology (Conahcyt) once the new law takes effect.
María Elena Álvarez-Buylla discusses a slide during the president’s morning press conference on Wednesday that shows a supposed “neoliberal” network responsible for misusing public funds in previous administrations. (Mario Jasso / Cuartoscuro.com)
Critics of the law have denounced its centralization of decision-making in the academic sphere and its curtailing of the autonomy of public research centers. They have also pointed out that an existing goal of investing 1% of GDP in scientific research is absent in the new law, and criticized the inclusion of military representatives on a board that will make decisions about funding for various academic projects.
Students and academics from institutes including the Center for Research and Teaching in Economics and the National Autonomous University (UNAM) joined a so-called paro nacional, or national strike, on Tuesday. Mexico City, Yucatán and Morelos were among the federal entities where stoppages took place.
Conahcyt, once it is established, will have a 20-person governing board whose members will be officials from numerous ministries including those of Agriculture, Welfare, Culture, Economy, Education, Foreign Relations, National Defense and the Navy. The allocation of seats at the board’s table to the military – which has been given responsibility for a wide range of non-traditional tasks in the current government – is a particular point of contention.
Representatives of civil society organizations, business groups and state and municipal governments will not have a say in how Conahcyt is run and which academic projects receive government funding.
Mexican scientist and professor Antonio Lazcano. (Foro Consultivo Científico y Tecnológico AC)
Antonio Lazcano, a biologist and emeritus UNAM professor, told the newspaper El País that the way in which the bill was approved was disgraceful and indicative of the “irresponsibility” of lawmakers.
Most senators hadn’t even read the 112-page bill before the vote took place, according to El País, and just two of seven scheduled “open parliament” sessions on the bill – at which interested citizens have the opportunity to voice concerns – went ahead as planned.
Alma Maldonado, an academic at the Center for Research and Advanced studies at the National Polytechnic Institute (IPN), described the process – or lack thereof – to approve the bill as “sloppy” and “very clumsy.”
She said that the new law will “subordinate” scientific institutes and agencies to Conahcyt because they will be dependent on the decisions taken by that organization’s board.
Brenda Valderrama, a researcher at the UNAM Institute of Biotechnology, said that the power to take decisions about issues related to science in Mexico will be concentrated in “a handful of officials.”
Lazcano asserted that the bill that passed the Senate has “brutal defects” and represents an attempt to bring political ideology into science. Martín Aluja, an entomologist, offered a similar view, asserting that what passed Congress is not a “general law” but rather “a political manifesto.”
Luis Omar Montoya Arias, a historian, asserted that the approval of the LGHCTI is “another step toward the militarization of the country,” while the president of the Mexican Association for the Advancement of Science said that the new law will likely face legal challenges given that the process by which it was approved was “full of legislative procedural flaws.”
Alma Cristal Hernández Mondragón, who is also a policy specialist at the IPN’s Center for Research and Advanced studies, expressed concern about the exclusion of “voices that can contribute” to policy debates, given that all Conahcyt board members will be government officials.
David René Romero Camarena, a genome scientist at UNAM, said that the LGHCTI favors public universities, and, as a result, researchers and students at private institutions will be treated in a “discriminatory” way once the law takes effect.
The federal government, however, has argued that the law is “needed to streamline policymaking and bolster government support for basic and applied research,” according to a news report by the academic journal Science.
The journal also reported that “some scientists are encouraged by provisions that call for work on behalf of the environment and disadvantaged communities.”
Martha Ileana Espejel Carbajal, a social ecologist who until recently was a professor at the Autonomous University of Baja California, said that the LGHCTI will “help many who were not privileged before.”
Martha Ileana Espejel Carbajal, a Mexican ecologist, sees the LGHCTI reform as flawed but “perfectible”. (Gaceta UNAM)
“It is the first time in 40 years of being a research professor that the law asks [us] to do what my team has always struggled to defend: … work with the most marginalized communities, with women, with youth, with social and ecological systems,” she said.
The LGHCTI may have flaws, but “every law is perfectible,” Espejel said.
In a statement issued after last Saturday’s vote, Conacyt said that the LGHCTI has a “humanistic focus that frames and guides scientific progress and technological development in favor of social wellbeing and environmental care.”
It also said that the law will strengthen Conacyt (or Conahcyt) and the 26 public research centers it manages.
“With the creation of this … General Law, Mexico breaks the paradigm, which, in the past three six-year periods [of federal government], permitted the use of public resources to fund a great quantity of private projects that simulated [rather than actually carried out] research,” Conacyt said.
“… This LGHCTI mandates mechanisms that prevent … resources of the people of Mexico … being transferred to … vested interests, … taking care that each peso allocated to the funding of HCTI activities is used in strict accordance with the [established] guidelines,” it added.
It can be daunting to deal with banks in Mexico when Spanish is your second language, but it's made worse when your bank insists on you using online banking or cellphone apps to get anything done, as the writer found out when money began disappearing from her account. (Shutterstock)
What I cannot understand is why banks abroad like Citibank, Santander, put their names on their Mexican acquisitions.
Over the 20 years I have lived in Mexico, I have changed banks frequently; all seem to cause me grief sooner or later, but I never experienced anything like I did recently with Citibanamex.
I opened the account in late 2021 because Santander had been threatening to close my account if I did not sign some paperwork, insisting I had to do so at my “home branch,” located over an hour away. So I withdrew the money and abandoned the account, deciding to go with Citibanamex.
But problems with my new bank began from the get-go. They screwed up my name, which took weeks to fix. I shrugged it off because my husband had had an account there for many years without any problems. It seemed like a fluke.
But my nightmare began last month. I kept my relationship with that account simple, avoiding online banking, which I do not really trust, especially on cell phones. But late on April 19, I saw that my balance was way off.
Of course, my first act was to cancel the debit card, but this proved impossible. I could not do it on my computer without the cell phone-based “Netkey” — a device that allows for two-factor authentication. And when I called the bank, they said my answers to their security questions were “wrong.”
Citibanamex is the antagonist in this story, but the writer points out that over the more than 20 years she’s lived in Mexico, she’s had account problems come up with every Mexican bank she’s worked with. (Shutterstock)
So I went to my home branch first thing the next morning for help. I had a similar problem with Santander some years ago, and to their credit, all it took was one visit to the branch to solve it..
Not so this time. Staff directed me to the phones in the lobby to call the same number I had already called with no luck. I ended up with the same outcome, which resulted in me making a scene.
This led me to poor Corina, who would bear the brunt of my frustration for the next hours — and, yes, days. But at least now a person that I could sit in front of could see that my answers to the security questions were indeed what’s on my documentation.
But this was not helpful, she could not tell the telephone-based representatives who I was, nor could she accept the complaint about my account.
Now, to make a very long and very complicated story short(er), there were basically four issues:
There were at least a dozen “unrecognized” charges to my account starting on April 17.
A significant sum was being withheld as “not available” with nothing in any computer system (cell, laptop or branch computer) to indicate why.
In my opinion, Citibanamex’s overall customer service is atrocious.
The bank’s computer system is completely messed up, and no representative or app had all the necessary information. During the more than eight days I spent on this problem, numbers and entries changed and appeared and disappeared wildly.
Due to the ubiquity of cell phones, many banks in Mexico have made online banking the only way you can communicate with your bank and have made it exclusively the domain of cellphone apps. Even bank employees need you to open your banking app in order to be able to assist you with your account. (Sabermassermas.com)
Also, there are no official accommodations for those with hearing and language difficulties, nor any visual option for reporting account issues. While I don’t expect the bank to provide me with English-speaking help, they highly frown on, even prohibit, bringing your own person to help you with the Spanish.
It took multi-hour visits over multiple days just to resolve the security question problem and make my complaint.
During one of these visits, Corina told me that if I did not install the cell phone app, she could not help me further. So I did very reluctantly. Here is when we both saw charges appearing and disappearing in real time, which prompted an immediate replacement of my debit card, which was neither lost or stolen.
But all she could do, supposedly, was cancel my card. So I took out all the money in my account that was available.
After promises of a phone call that did not materialize, I returned to the branch on April 25 to be directed yet again to the phone in the bank lobby. When I finally got through, the guy on the phone said he did not know to whom the payments were made, although I could see this information on my new app.
I persisted and managed to get through it, learning there was one new charge, and the “unavailable funds” were related to charges “in process” for 4 working days. No way to dispute those.
Mexico has an agency devoted to advocating for the consumer when it comes to dealing with financial institutions: Condusef. They have offices in major cities where you can get in-person help, or you can register a complaint on their website. (Condusef)
My knight in shining armor came through Condusef (Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros), the Mexican consumer protection agency for bank account holders.
On the advice of a friend, I went to their complaint page, finding it surprisingly intuitive and easy for a government website. I made two complaints, one for the extra charges and one for the unavailable funds.
After that, things moved quickly: the day after Condusef emailed me to say that they sent the complaints to the bank, the money reappeared in my account — which, of course, I immediately withdrew.
The nightmare is not quite over yet. Online access is still unreliable, so I cannot be sure down to the peso, but if I lost anything, it is a mere fraction of the original amount, and I will close the account after I get the next bank statement.
All this prompted me to look into banking in Mexico in a general way, and I found that the problems are huge. I’m not alone in experiencing bank nightmares, and there are stories far worse than mine.
Mexico’s Condusef (the National Commission for the Protection and Defense of Users of Financial Services), which receives millions of consumer complaints each year, states that the skimming of debit and credit cards is particularly a problem, as are the various scams out there to steal physical cards and personal information.
Spencer McMullen, an attorney with Chapala Law knows about these problems and many others, having represented foreign and Mexican clients against most banks.
“If you haven’t been a victim of a Mexican bank, you eventually will,” McMullen says very pessimistically. He adds that fraudulent access to accounts not only originates at ATMs and points of purchase but also in the banks themselves.
His advice? Don’t have any more money in a Mexican account than you can bear to lose.
Fortunately for me, my story has a more-or-less happy ending. I still have to do a definitive accounting with the upcoming statement and close the account. Having a Mexican account is unavoidable due to my financial situation, but lesson learned: how I work with my new account at Bancomer (the only major bank recommended by the financial publication Forbes México) will be very different.
Leigh Thelmadatter arrived in Mexico over 20 years ago and fell in love with the land and the culture in particular its handcrafts and art. She is the author of Mexican Cartonería: Paper, Paste and Fiesta (Schiffer 2019). Her culture column appears regularly on Mexico News Daily.
The conservation of nesting sites on beaches in Quintana Roo plays an important role in preserving the numbers of this endangered species. (Isabel Mateos/Cuartoscuro)
Theseventh edition of an annual sea turtle protection program convened this week in Tulum, Quintana Roo, aiming to protect the local nesting sites of the endangered marine animals.
The State Committee for the Protection, Conservation and Management of Sea Turtles in Quintana Roo met in Tulum’s Bahia Principe hotel to plan conservation activities for the 2023 breeding season, which runs from May to November.
Sea turtles, who are an endangered species, are under threat from pollution and development – and until recently, local cuisine. (Joseph Sorrentino)
Measures discussed include the cleaning and monitoring of nesting areas, raising awareness among tourists about protection measures and implementing protocols for turtle sightings.
There was acalendar of events throughout the week, including beach cleanups and conservation workshops in coastal towns throughout Quintana Roo.
“We have achieved significant results in the protection and conservation of this endangered species,” said Rocío Peralta, head of the natural resources department of Tulum’s Directorate of Environmental Sustainability. “All this comes from the commitment of the community and the joint work of the authorities, organizations and companies.”
The program involves the Directorate of Environmental Sustainability and the Environmental Protection Ministry, as well as local businesses and civil society organizations in Tulum. The Navy will also participate in the monitoring program.
The theme of this year’s convention is “Sea turtles and plastic pollution.” It aims to raise awareness of how poor waste management leads to around 8 million tons of plastics a year ending up in the oceans, and threatens sea turtles’ habitat.
A further event – the 21st Sea Turtle Festival – will take place in October, according to Itzel Trujano, president of the State Committee for the Protection, Conservation and Management of Chelonia.
Four species of sea turtle nest on the beaches of Quintana Roo – whites, loggerheads, leatherbacks and hawksbills – playing a key role in the marine ecosystem.
Until recently, turtles were not only threatened by pollution and habitat change, but also were hunted tosupplement the local diet. Various environmental organizations, however, now collaborate with the Mexican government to prevent poaching, run breeding programs and integrate sea turtle conservation into local tourism projects.
Nuevo León governor Samuel Garcia (second from left) cuts the ribbon to open the new US $80 million factory, alongside Yinlun executives. (Samuel Garcia/Twitter)
Chinese auto parts manufacturer Yinlun has opened a new plant in Salinas Victoria, Nuevo Leon, an investment of US $80 million.
The company, which provides thermal management solutions including coolers, battery heaters and radiators, expects to generate over 1,000 jobs and is considering opening another plant in the northern state. It recently opened a plant in the nearby municipality of Ciénega de Flores.
The new factory in Salinas Victoria is the second Yinlun facility in the state. (Samuel Garcia/Twitter)
Yinlun has manufacturing plants in China, the United States and Poland. Its customer portfolio includes Caterpillar, Volvo, GM, Stellantis, Ford and Paccar.
Speaking at the plant’s inauguration, Governor of Nuevo León Samuel García said that “a powerful economic boom is coming [to Nuevo León], and the government is not going to be left behind.”
State Economy Minister Iván Rivas added that companies like Yinlun continue to arrive in Nuevo León because “they find the right conditions to thrive — particularly, the most competitive human capital.”
He also said automotive sector investments represent 26% of the total that has arrived in Nuevo León since García took office in 2021.
The Salinas Cruz factory, seen here under construction in 2022, is part of a wave of nearshoring by Asian manufacturers looking to strategically access the North American markets. (Hofusan Industrial Park/Twitter)
Growth in the state has been fueled by the boom in nearshoring — where companies relocate to strategic foreign markets to take advantage of a more favorable investment climate. As part of the trend, companies like Tesla and Unilever have recently announced significant investments in the state.
Mexican brokerage firm Grupo Bursátil Mexicano recently noted that Nuevo León was the biggest nearshoring winner in all of Mexico last year. In February, García predicted that foreign direct investment in his state could double those of 2022.
The peso has appreciated about 9% against the US dollar since the beginning of the year. (Depositphotos)
The Mexican peso appreciated to its strongest level against the US dollar in almost six years on Wednesday, with one greenback buying 17.83 pesos at one point in the trading day.
The value of the dollar had increased to 17.92 pesos by the end of the day on Wednesday, while one greenback was worth a slightly lower 17.90 pesos when North American markets closed on Thursday.
The peak the peso achieved on Wednesday was the currency’s strongest level since September 2017.
The currency’s appreciation by as much as 0.8% on Wednesday came after the United States Federal Reserve announced an interest rate increase of 25 basis points to a range of 5%-5.25%, and suggested that its monetary policy tightening cycle, which began in March 2022, might have come to an end.
In a statement announcing the 25-basis-point hike, the Fed – in contrast to previous statements – didn’t say that it anticipated that further increases would be needed. That omission prompted emerging-market assets to appreciate, the Bloomberg news agency reported.
Erick Martinez Magaña, a strategist with Barclays in New York, said that stable interest rates in the United States and a “still resilient U.S. economy” are a “bullish combination” for the Mexican peso.
Manufacturers have been relocating operations from Asia to Mexico in a phenomenon known as “nearshoring”, which experts say is part of why the peso has strengthened. (Government of Mexico)
The peso, which has appreciated about 9% against the dollar since the start of the year, has already been bolstered by factors including high interest rates in Mexico – currently 11.25% – and strong remittances, which totaled almost US $14 billion in the first quarter of 2023.
The relocation of companies to Mexico – a growing phenomenon known as nearshoring – has also benefited the peso as it has increased demand for the currency.
“The issue of nearshoring and remittances gives a very positive perspective to the peso,” said Alfredo Puig, a trader with Monterrey-based brokerage Vector.
Deputy Finance Minister Gabriel Yorio told Bloomberg earlier this week that further appreciation of the peso could affect demand for Mexican exports, as they would become more expensive.
“However, it is not yet inhibiting exports or economic activity,” he said.
Yorio declined to say whether there was a particular exchange rate level that would be of concern to policymakers.
Mexican high diver Jonathan Paredes is part of a team trying to raise money on social media to fund a trip to the Diving World Cup in Florida. (Jonathan Paredes/Instagram)
Star Wars symphonic concert in Mexico City for May the 4th
— INJUVE CIUDAD DE MÉXICO (@InjuveCDMX) May 4, 2023
“‘Patience you must master, young padawan, May the 4th be with you…’ See you there!” the National Youth Institute (INJUVE) announced on Twitter.
While Star Wars Day’s origins go back to informal celebrations by fans of the movies, its annual date stems from a story published by the London Evening News on May 4, 1979, in which members of the Conservative Party of the United Kingdom congratulated Margaret Thatcher on her newly-won position as Prime Minister.
“May the 4th Be With You, Maggie. Congratulations,” the article said, a pun on “May the Force be with you,” the line made famous by “Star Wars,” which had premiered only two years earlier. Some years later, fans would use the pun when choosing a date for Star Wars Day.
This is the second edition of the Star Wars symphonic concert. The music will be performed by the INJUVE Symphony Orchestra and conducted by César Uriel Hernández, the orchestra’s artistic director. It will be held at 7 p.m. in the Venustiano Carranza borough.
From TV meth cooks to real-life mezcal producers
The leading actors of Breaking Bad, Aaron Paul and Bryan Cranston, spoke to Jetset magazine about Dos Hombres, the mezcal brand they launched in 2019.
The duo told Jetset that before starting their business, they deeply studied the spirit’s tradition and embarked on frequent trips south of the border where they discovered Gregorio Velasco, “the tercer hombre” behind their brand.
A third generation maestro mezcalero (master mezcal maker), Velasco brought to life the actors’ vision of bringing mezcal to the public. “This is all self-funded by Bryan and [me] from the very beginning,” Paul told Jetset, saying they wanted “to create an accessible and perfect mezcal.”
The two Breaking Bad stars enjoying their mezcal. (Dos Hombres/Instagram)
The actors talked about Velasco with the utmost respect. “Every time we go down to Mexico and visit our maestro… he teaches us something different,” Cranston said. However, the actor said that Velasco has kept – and will continue to keep – the Dos Hombres recipe tightly hidden. “We don’t even know it,” Cranston said.
When asked about the company’s goal, Cranston said that he and Paul want to “share the joy” and do things that are “beneficial for people,” both in Mexico and the United States. For the duo, the business is not about the money. “We have never gone after a money plateau,” Cranston said
However, Paul admits they want to keep building their brand. “We want to keep educating people on what mezcal is, and swing for that number one spot.”
Luis Miguel announces 2023 tour
After much anticipation from his fans, Luis Miguel has finally announced dates for his 2023 tour, the singer’s first since 2019.
The Mexican pop star will be touring cities throughout Latin America and the United States this year. (Wikimedia Commons)
The 43-date tour through Latin America and the United States will kick off Aug. 3 in Buenos Aires, Argentina. Luis Miguel will then move on to Chile and other parts of Latin America before heading to the U.S., where he will tour major cities like Chicago, Las Vegas, Miami and Los Angeles. He will wrap up the trek on Dec. 17 in Guadalajara.
In Mexico, “El Sol de México” (“The Sun of Mexico”) will visit at least 11 states, including Mexico City, where he will sing on November 21, 22 and 24 at the Mexico City Arena, which comes as a surprise, as he had always performed at the National Auditorium. However, no information has been released as to when tickets will be available for sale in the country.
In the United States, tickets are already available through Ticketmaster. And in Argentina, tickets sold out just two hours after their release, CNN reported.
Luis Miguel is one of Latin music’s biggest stars. Among his many records is that set by his 2010 “Luis Miguel Tour” as the longest and highest-grossing tour that any Latino artist has ever made. He is also the first Mexican artist to surpass 8 billion streams on Spotify.
Divers raise money to attend the World Aquatics Diving World Cup
The Mexican Swimming Federation’s (FMN) withdrawal of financial support has led Mexican divers to raise money on social media to attend the 2023 World Aquatics High Diving World Cup in Fort Lauderdale, Florida.
With the support of former Mexican diver Adriana Jiménez, the Mexican high diving team, made up of Jonathan Paredes, Sergio Guzmán, Diego Rizo, Yolotl Cabral and Alejandra Aguilar, launched a campaign on social networks to raise $200,000 pesos (US $11,000) to cover travel expenses to the World Cup.
“We want to make an urgent call to Mexican society. The World Cup is just around the corner and we do not have any kind of financial support to be able to attend,” Paredes said in a video.
The amount raised would help the members of the Mexican national team to cover their food, air travel tickets and lodging expenses before May 20. The World Cup will take place on May 26 and 27.
“We have trained hard to represent our country with pride,” Paredes said.
A new national cinema to open in Bosque de Chapultepec
In addition to being Mexico City’s iconic park, the Bosque de Chapultepec is also a cultural center with museums, galleries and later this year, a new national cinema (cineteca).
An aerial view of the giant Bosque de Chapultepec in Mexico City. (Santiago Arau/Gob MX)
As part of the “Chapultepec: Nature and Culture” project, which has rehabilitated old spaces in the forest and opened new leisure spaces in collaboration with several artists, the new cineteca will show a range of national and international movies in eight auditoriums. The two largest will hold 400 viewers at a time, four will seat up to 200 and two smaller ones will seat 100. The existing national cinema – which is Mexico’s central film archive – is a Mexico City landmark located in Coyoacán’s colonia Xoco.
A wooded outdoor forum reminiscent of the cinema in Coyoacán is also part of the construction plan. The venue will also have cafeterias, restaurants, shops and bars, and be host to workshops and exhibitions.
Though initially planned for the end of 2021, the new cinema’s opening is now scheduled for the last quarter of 2023.
The studio of Mexican architect Mauricio Rocha is in charge of its construction.
Albañiles in Campeche erect a cross to protect their construction site from misfortune. May 3 marks an annual day of celebration for those in the trade. (Michel Balam/Cuartoscuro)
On May 3, many cities across Spain and Latin America commemorate the festival known as the Day of the Holy Cross.
Mexican builders at some point adopted the cross as their patron, which is why in Mexico, May 3 is also known as día de los albañiles (Construction Workers’ Day).
“God didn’t make the world. It was us, the albañiles.” (Twitter)
Why exactly the cross became such an important symbol for albañiles isn’t clear, but it’s tradition here on this day to place a cross decorated with natural or paper flowers atop buildings or houses under construction.
To celebrate Day of the Holy Cross, construction workers share a meal together, usually paid for by the project manager or the person who owns the site being built. In this edition of Mexico in Numbers, we take a look at the data on albañiles and the nation’s construction industry.
According to the government’s Data México platform, at the end of 2022, 1.63 million people were employed in the category of construction workers, stonemasons and related jobs nationwide – of which 90.2% were in the informal sector. This means that more than 1 million construction workers do not have social security or any other legal benefits despite working long hours in a perilous job.
This is far higher than the percentage of workers in the labor market as a whole who have informal jobs (55.1% in Q4 2022), underscoring the vulnerability of these workers.
Although a construction worker’s income varies based on factors such as the type of work he performs, the length of a project and which state in which he is working, the average salary for a construction worker who worked 5.3 days per week in Q4 2022 was 7,400 pesos per month (roughly US $412), according to numbers from the National Occupation and Employment Survey (ENOE).
The states with the best salaries per month for construction workers are Baja California Sur, with 13,100 pesos (US $502); Nayarit, with 11,300 pesos (US $467); and Sinaloa with 10,700 pesos (US $462).
Data México also reported that just over 39% of those employed in the construction industry had 7 to 9 years of schooling.
By standards established by the General Education Law, some 635,700 construction workers therefore finished middle school. The average worker age is 44 years old.
In Q4 of 2022, a mere 1.23% of the construction workers were female.
According to the national statistics agency (INEGI) in February 2023, the number of workers in the construction of commercial, industrial and residential buildings increased 2.7% over 2022.
COVID-19 hit the industry hard. According to experts, the historical average contribution of the construction industry to Mexico’s GDP has been 7.5%. However, by the end of 2022, it was only 6%.
There are some signs of recovery however: INEGI data shows the construction sector grew at an annual rate of 6.8% in February, and new estimations indicate that this year, it could continue to grow as much as 2.2%.
While these figures show improvement in the industry, BBVA economists Carlos Serrano, Marissa González and Samuel Vázquez recently told the newspaper El Economista that this is far from a total recovery.
