Industries and markets

Mexico investigates 3 officials from state oil company

“We can’t tolerate anything that has to do with corruption or even accept suspicions,” he said. Mexico comptroller Irma Erendira Sandoval said that the Pemex officials, including the current head of exploration and production, had

Brazil’s New Congress Starts Friday Already with Controversial Issues

“Among the first issues this new Congress will have to discuss is the social security reform. The reform is considered by President Jair Bolsonaro’s economic team as essential to improve the country’s dismal public accounts.

Peru: CbC Report Exchange since “MCAA CbC”

At the end of 2018, Peru signed the Multilateral Competent Authority Agreement (MCAA CbC) which regulates the exchange of Country-by-Country reports. Thus, Peru has committed to send CbC reports to 44 countries until January 31st,

Brazil: Exporting States limit the Usage of ICMS Tax Credits

A non-published study of the National Confederation of Industry (CNI) shows that the 10 biggest exporting states in Brazil limit the usage of ICMS tax credits of companies selling products abroad. The states` governments define

AMLO slams Fitch ratings agency ‘hypocrisy’ for Pemex downgrade

“At his morning press conference today, López Obrador lambasted Fitch, without citing its name, and other credit ratings for their assessment of the state oil company. “What these organizations do is very hypocritical . .

Brazil officials investigate kickback scheme

“Brazilian prosecutors say they’re investigating a kickback scheme involving bank directors who allegedly accepted bribes in exchange for investments in businesses that include the now-defunct Trump-branded hotel in Rio de Janeiro.”

Mexico teachers block railway lines, food shortages feared

“Teachers from the National Committee of Education Workers union began blocking the railroad tracks on Jan. 14 to protest labor demands. That has hampered the distribution of supplies for various industries, including hydrocarbons and grains

Brazil’s Economy Minister to Eliminate Deficit with Reforms and Privatizations

“Much of Brazil’s deficit may be eliminated with swift, effective measures, according to Economy Minister Paulo Guedes. Among the measures the Brazilian government is promising to implement are a social security reform, oil concessions and

Siscoserv – System Changes

In December 2018, Brazil published two directives that changed the Siscoserv system. Siscoserv is an integrated tool for foreign trade of services, immaterial goods and other transactions that change the volume of equity. Information have

Chile: MFN Principle in International Contracts

According to the most favored nation (MFN) principle a state has to grant the same foreign trade privilege to other states which it grated to a third state. The principle is the base of GATT