8,438 Cases Set New Daily Record

The Ministry of Health reported 8,438 more COVID-19 cases than yesterday: the highest daily increase so far. The total number of infections rose to 370,712 cases while 718 new deaths increased the death toll to 41,908.

Confirmed cases worldwide passed the 15.5 million mark and almost 640,000 deaths, with the US on top of both categories, according to Johns Hopkins University (JHU) data.

During today’s briefing the National Center for Preventive Programs and Disease Control (CENAPRECE) head Ruy López Ridaura said that 73 percent of the COVD-19 deaths had at least one comorbidity, which are mainly diabetes, cardiovascular disease or obesity. López Ridaura called on the public to be aware of the food  they consume, in addition to highlighting the negative impact that sugary drinks and ultra-processed foods have on the immune system.

As of Thursday, July 23

8,438     new cases (from yesterday)

370,712 confirmed cases nationwide

89,547   under investigation

41,908   deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.48            (0.70%)

BMV IPC               37,433.30             (-0.04%)

Dow Jones          26,652.33             (1.31%)

The worst is over, according to Banorte

The worst economic effects of COVID-19 on the Mexican economy have passed and now a slow recovery process will start, Grupo Financiero Banorte head Marcos Ramírez Miguel said. “I think the worst is over. We don’t know exactly how long it will last and we all hope for vaccines to be ready, but the fact is we have already learned to live with this and will eventually see our way out,” he said. Ramírez explained that when the pandemic started there were several questions on what could happen, but as it has progressed we have learned which sectors were hit hardest.

60 percent of companies trimmed production

Over 60 percent of companies had to stop or reduce production to prevent the spread of COVID-19, INEGI head Julio Santaella has reported. “Of those companies, 93 percent also reported having registered some kind of economic impact, mainly a decrease in income,” he said when presenting the results of the pandemic impact survey. Almost 89 percent of respondents said they had to implement some sanitary measure and only 7.8 percent reported receiving financial support during April or May.

WTO’s next head needs to boost trade

Given that the COVID-19 pandemic will leave unsolved affairs the next World Trade Organization (WTO) head must make credible agreements between countries and reforms to boost free trade, Roberto Azevedo said during his farewell speech from the international body. Former negotiator for Mexico in the USCMA trade treaty Jesús Seade is one of the candidates to replace Azevedo.

Alsea might close 100 units

In the second half of 2020, Alsea could close at least 100 restaurants, the Group’s head Alberto Torrado said. “It is likely that we will close brands like Wagamama. I think that by next quarter we will know how many units we are closing this year, but there will be more than 100,” Torrado noted.

MX$211 billion lost in Mexico City

Between March 23 and July 20 of the current year businesses in Mexico’s capital city  lost over MX$211 billion in sales, CANACO CDMX has reported. The commerce, services and tourism chamber also called on the city authorities to rethink the resuming of activities in the historic center, since the implemented plan has not worked.