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Business Central America

  • MEXICO CITY— Mexican authorities say an explosion at an illegal fuel pipeline tap has killed a person and injured five more in the Gulf coast state of Veracruz. Veracruz's Public Safety Department published photos showing a thick column of smoke rising from an agricultural field and some charred vehicles. Fuel theft is a growing form of organized crime in...

  • MEXICO CITY— In a story Aug. 14 about corruption allegations against the former head of Mexico's state-run oil company Pemex, The Associated Press erroneously reported that Mexico's Attorney General's Office said the Brazilian companies Odebrecht and Braskem were involved in paying bribes in Mexico. The Attorney General's Office said only that Odebrecht...

  • WASHINGTON, Aug 18- U.S., Canadian and Mexican negotiators on Friday began digging into some of the thorniest issues in modernizing the North American Free Trade Agreement, including rules of origin for goods produced in the region, services trade and a controversial dispute settlement system. Trade Representative Robert Lighthizer emphasized at the...

  • MEXICO CITY, Aug 18- Mexico's finance ministry on Friday said state oil company Pemex will be allowed to deduct more costs for developing some projects so the firm can maintain production, which has been steadily declining since 2004.. The costs recovery allowed for onshore fields, with the exception of areas in the Chicontepec basin, was raised from 20 percent...

  • Trade Representative Robert Lighthizer emphasized at the opening of the talks on Wednesday that the United States was seeking major increases to the regional content required for goods to pass tariff-free between the three countries, including a demand for "substantial U.S. content" in the automotive sector. Canada, Mexico and the U.S. auto industry are...

  • MEXICO CITY, Aug 17- U.S. energy company Chevron Corp and trading firm Glencore on Thursday announced separate plans to enter Mexico's fuel market, as the long-hidebound sector begins to attract major foreign players. Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal in the southern state of...

  • WASHINGTON— The United States won't settle for cosmetic changes to the North American Free Trade Agreement, the top U.S. trade negotiator said, as negotiations to rework terms of the pact began. NAFTA did away with most barriers, including tariffs, on trade between the U.S., Canada and Mexico. The U.S. trade representative said he wanted to change the pact to require...

  • MEXICO CITY— The former head of Mexico's state-owned oil company, a key campaign adviser to President Enrique Pena Nieto, has denied accusations that he took bribes from Brazilian construction company Odebrecht. His lawyer Javier Coello Trejo said on Radio Formula on Monday that "we will prove that Emilio Lozoya did not receive a single cent of those supposed...

  • TUESDAY, AUGUST 15 SYDNEY- Reserve Bank of Australia to release the minutes of its August monetary policy meeting 0130 GMT. **BELGRADE- Serbia Central Bank presents inflation report for August- 0600 GMT. WINDHOEK, Namibia- Central Bank of Namibia monetary policy meeting.

  • SUNDAY, AUGUST 13 SYDNEY- Reserve Bank of Australia Assistant Governor Christopher Kent speaks at the Moody's Analytics Forum 2335 GMT. TUESDAY, AUGUST 15 SYDNEY- Reserve Bank of Australia to release the minutes of its August monetary policy meeting 0130 GMT. WINDHOEK, Namibia- Central Bank of Namibia monetary policy meeting.

  • MEXICO CITY— President Donald Trump's push to renegotiate the North American Free Trade Agreement is putting Mexico in a tough spot, threatening the system that has helped turn the country into a top exporter through low wages, lax regulations and proximity to the United States. With talks set to start on Aug. 16, the Trump administration is targeting the massive...

  • PUERTO ORDAZ/ CARACAS, Venezuela, Aug 10- V enezuelan homemaker Carmen Rondon lives in the country with the world's largest oil reserves, but has spent weeks cooking with firewood due to a chronic shortage of home cooking gas- leaving her hoarse from breathing smoke. Finding domestic gas cylinders has become increasingly difficult, a problem that oil industry...

  • MEXICO CITY, Aug 10- Mexico could pull back on cooperation in migration and security matters if the United States walks away from talks to renegotiate the North American Free Trade Agreement, the Mexican economy minister said in a newspaper report published on Thursday. Ildefonso Guajardo, who will take part in the first round of NAFTA talks with U.S. and...

  • VERACRUZ, Mexico Aug 10- Remnants of this year's first Atlantic hurricane dumped rain over the eastern Gulf coast and central Mexico on Thursday, but officials said there were no reports of deaths or major damage. Franklin landed in the early hours of Thursday as a Category 1 hurricane and later weakened into a tropical storm over the eastern coast of Mexico, the...

  • TOKYO, Aug 10- Toyota Motor Corp will push back the start of operations at its scheduled new plant in Mexico, to the first half of 2020 from the initial plan of 2019, the company said on Thursday. Toyota said the delay was necessary to adjust its supply chain in Mexico to produce the truck-based Tacoma pickup model instead of the Corolla compact car.

  • MEXICO CITY, Aug 9- Major drugmakers including GlaxoSmithKline Plc and Pfizer Inc face no competition in Mexico from generics that are readily available elsewhere, partly because of regulatory failings, Mexico's antitrust body said on Wednesday. According to a document seen by Reuters, Cofece also identified other pharmaceutical companies with products...

  • MEXICO CITY, Aug 9- Major drugmakers including GlaxoSmithKline Plc, Pfizer Inc and Sanofi SA use legal ways to stifle competition in Mexico from generics that are readily available elsewhere, a senior Mexican antitrust official said on Wednesday. According to a document seen by Reuters, Cofece also identified other pharmaceutical companies, including...

  • MEXICO CITY, Aug 9- Mexico's finance minister said on Wednesday that tomato prices were to blame for annual inflation rising to the fastest pace in more than 8-1/ 2 years in July, a reading that topped forecasts and could pressure the central bank to keep interest rates high. It was the highest reading since December 2008. Speaking in Mexico City, Finance Minister...

  • MEXICO CITY, Aug 9- Major drugmakers including GlaxoSmithKline Plc, Pfizer Inc and Sanofi SA use legal ways to stifle competition in Mexico from generics that are readily available elsewhere, a senior Mexican antitrust official said on Wednesday. According to a document seen by Reuters, Cofece also identified other pharmaceutical companies, including...

  • MEXICO CITY, Aug 9- A U.S. proposal for Mexico and Canada to vastly raise the value of online purchases that can be imported duty-free from stores like Amazon.com. Vulnerable industries like footwear, textiles and bricks and mortar retail in Mexico and Canada are pushing back hard against the proposal by the U.S. trade representative to raise Mexican and...