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Pemex approves new deep water Gulf joint venture

Pemex approves new deep water Gulf joint venture

Pemex  has approved its second-ever deep water joint venture covering the Nobilis-Maximino block in the country’s territorial Gulf waters. Pemex, which is looking for a partner to develop the block, estimates it to hold reserves of some 500 million barrels of oil equivalent (Boe) based on data gathered from five wells drilled in the past.

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Mexican Tuna wins a trade battle

Mexican Tuna wins a trade battle

Mexico and the U.S. have fought for years over tuna. The U.S. insists that any Mexican tuna sold in the US must be “dolphin safe,” meaning dolphins weren’t killed by tuna fisherman, which was once common. Mexico says its fisherman play by the rules. The U.S. government disagrees. On Tuesday, the World Trade Organization ruled

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So far It’s Milk, Not Corn

So far It’s Milk, Not Corn

The war of words between the U.S. and Mexico over trade has prompted concern over what might happen to cross-border shipments of corn and meat — even avocados. But there’s one market that’s already feeling the effects: nonfat dry milk. Futures prices in Chicago are down 13 percent this year. The decline is fueled largely by

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Mexico’s peso could strengthen further: Finance Minister

Mexico’s peso could strengthen further: Finance Minister

Mexico’s peso is “quite competitive” and could strengthen further despite likely bouts of volatility, said Finance Minister, Jose Antonio Meade. “Conceptually, there is probably still room for some appreciation.”The current exchange rate is better aligned with the country’s economic fundamentals, he added. The peso slid to a record low in early January. “What we saw at

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Javier Duarte’s Properties

Javier Duarte’s Properties

The Ex-Governor of Veracuz, Javier Duarte during his term in office (2010-2016) is accused of illegal enrichment, organized crime and money laundering. An audit identified that just in the year 2015, $484 million pesos assigned to education programs “disappeared” – the money was spent on fake payments. After his detention last weekend in Guatemala and as part of

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NAFTA renegotiation delayed

NAFTA renegotiation delayed

The absence of a U.S. Trade Representative is delaying the start of Nafta negotiations with Mexico, a top official from the Latin American nation said.  Without the lead U.S. trade negotiator in place, Mexico doesn’t expect the White House to give Congress the 90 days of notice it needs to open formal talks on the

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Odebrecht scandal could hit Pemex

Odebrecht scandal could hit Pemex

A U.S. judge on Monday ordered Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities. Odebrecht, along with affiliated petrochemical company Braskem SA, pleaded guilty to U.S. bribery charges in December. U.S. authorities

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China Southern Airlines launches first flight to Mexico

China Southern Airlines launches first flight to Mexico

China Southern Airlines has flown its inaugural Guangzhou to Mexico City flight, via Vancouver, the first route operated by a domestic Chinese carrier to the Latin American Nation. China’s interest in Mexico, including tourism and investment, has been on the rise in recent years. In 2016, 74,300 Chinese tourists visited Mexico, up 33.5 percent from

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European Union & Mexico Talks

European Union & Mexico Talks

The European Union on Friday (April, 7th) concluded its latest round of trade negotiations with Mexico, focusing on sustainable development, transparency, services and investment. “We have almost the whole text of the agreement on the table. Before this round we had discussed the trade in goods, SMEs and competition,” EU sources said. The original Global

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First comments about the 2018 Mexican Presidential Elections

First comments about the 2018 Mexican Presidential Elections

“Between individuals, as between nations, peace means respect for the rights of others.” famous quote of Mexican President Benito Juarez (1806-1872) Speaking with senators, U.S. Secretary of Homeland Security John Kelly agreed with Republican Senator John McCain’s view that “if the election were tomorrow in Mexico, you would probably get a left-wing, anti-American president of

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Amigos to Canada with $1.6B con Vacaciones!

Amigos to Canada with $1.6B con Vacaciones!

The American tourism industry could be facing a new phenomenon: waning interest in the traveling to the United States. After decades of sitting pretty as a bucket list destination, the stars and stripes might be on their way out. Experts warn that anti-immigration rhetoric as well as confusing travel and electronic bans have dampened foreign

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Texas landowners against the border wall

Texas landowners against the border wall

Ranchers and landowners from the Texas Wildlife Association (TWA) announced their opposition to a Texas-Mexico border wall last week, supporting some new barriers but not a proposed 151-mile-long, 30-foot-high stretch of border wall through Big Bend. “Only a president from New York could think we need to spend public money building a 30-foot-high wall where

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Jobs are heading back to Mexico once again

Jobs are heading back to Mexico once again

The flow of manufacturers setting up shop south of the border dwindled to a trickle, but now the the pace is picking back up: Illinois Tool Works Inc. will close an auto-parts plant in Mazon, Illinois, this month and head to Ciudad Juarez. Triumph Group Inc. is reducing the Spokane, Washington, workforce that makes fiber-composite parts

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Nayarit Attorney General accused of narco-trafficking

Nayarit Attorney General accused of narco-trafficking

Nayarit’s Attorney General Edgar Veytia was arrested on Monday at the U.S.-Mexico border south of San Diego for smuggling and trying to distribute drugs following charges filed by the state of New York in early March. Veytia, also known as “Diablo,” “Eepp,” and “Lic Veytia,” was indicted on Tuesday on grand jury charges of international conspiracy to

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Grupo Mexico will consolidate as US railway operator

Grupo Mexico will consolidate as US railway operator

Grupo México, a mining conglomerate which owns Mexico’s biggest railway network, has agreed to buy Florida East Coast Railway Holdings Corp (FEC) for $2.1bn . The deal “positions it immediately as a consolidated railway operator in the US, adding a fundamental line in Florida to existing operations in Texas,” the company said in a statement

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