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☆ Several missing after fire at Pemex offshore platform, Mexico's president says
▼ + stars: | 2023-07-07 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +1 min

MEXICO CITY, July 7 (Reuters) - Several workers at an offshore platform run by Mexican state oil company Pemex in the Gulf of Mexico are missing after a fire broke out early Friday morning, President Andres Manuel Lopez Obrador told reporters. The president said Pemex firefighters were at the scene at the Cantarell complex, in the Bay of Campeche, to put out the fire after an explosion at a gas production platform and that employees were evacuated. One Pemex employee and three others were injured, the oil workers union said in a statement. A source at the company told Reuters the fire was at Pemex's Nohoch-A offshore gas compression platform, but that oil production remained unaffected. Cantarell produces from one of Mexico's largest oil fields which for decades was one of Pemex's crown jewels.

Persons: Andres Manuel Lopez Obrador, Lopez Obrador, Ana Isabel Martinez, Stefanie Eschenbacher, Manuel Carrillo, Kylie Madry, Isabel Woodford, David Holmes Organizations: MEXICO CITY, Reuters, Cantarell, Thomson Locations: MEXICO, Gulf, Mexico, Bay, Campeche

☆ Honduras probes Chinese interest in investing in $20 billion rail line
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

Honduras and China have been negotiating a first-ever free trade pact linking their economies. Fredy Cerrato, the Honduran economic development minister, told reporters officials from both countries also discussed infrastructure projects relating to dams and power generation. "We presented (Chinese officials) with the projects that Honduras is interested in getting financed, that are vital for the development of our country," said Cerrato. He added that officials in China, the world's second largest economy, have shown interest in projects developed using both public and private funds. The minister added that proposed train line could be ready in about 15 years.

Persons: Commerce Wang Shouwen, Melvin Redondo, Cerrato, Gustavo Palencia, Kylie Madry, Isabel Woodford, David Gregorio Our Organizations: Commerce, Economic, Palmerola, Foreign Ministry, Central, Thomson Locations: Honduras, Comayagua, TEGUCIGALPA, Honduran, Pacific, China, Central American, Taiwan

☆ Two dead, output impacted after fire engulfs Mexican oil platform
▼ + stars: | 2023-07-07 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +2 min

[1/4] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. In posts on Twitter, Pemex said it had accounted for all other workers and said oil production had taken a major hit from the blaze. Later on Friday, the company said oil production had been "impacted in a substantial way" due to the fire. A Pemex statement Friday morning indicated that 321 of 328 people working on the sprawling platform had been successfully evacuated. The vast majority of Mexican oil production comes from nearby shallow water fields clustered around the Bay of Campeche in the southern Gulf, where Pemex has suffered a number of industrial accidents in recent years.

Persons: Pemex, Octavio Romero, Cantarell, Ana Isabel Martinez, Stefanie Eschenbacher, Kylie Madry, Manuel Carrillo, Brendan O'Boyle, Isabel Woodford, David Gregorio, Rosalba O'Brien Organizations: MEXICO CITY, Twitter, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO

☆ Kidnapped Mexican security staff freed after three-day search
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 30 (Reuters) - Sixteen Mexican state security ministry employees were freed on Friday after being kidnapped earlier this week in the southern state of Chiapas, authorities said, following a three-day search. The employees, all men, were kidnapped Tuesday by an armed group on a highway near the state capital of Tuxtla Gutierrez after leaving work, authorities said. More than 1,000 federal and state agents joined the search, and two people were detained earlier this week. On Tuesday, a spokesperson for Chiapas' security ministry told Reuters that the employees were not police officers but administration workers, adding, "Nothing like this has ever happened." Reporting by Lizbeth Diaz; Writing by Isabel Woodford; Editing by Sarah Morland and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Tuxtla Gutierrez, Lizbeth Diaz, Isabel Woodford, Sarah Morland, Leslie Adler Organizations: MEXICO CITY, Reuters, Thomson Locations: MEXICO, Chiapas, Tuxtla

☆ Electrical accident at Chile's El Teniente copper mine leaves one dead
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, June 29 (Reuters) - An electrical accident at Codelco's El Teniente mine in central Chile, the company's largest copper mine, left one dead, the state-owned mining giant said in a statement on Thursday. Codelco said the accident happened at the mine's Andes Norte expansion project at about 3 p.m. (1900 GMT) when Osvaldo Bustamante Frias, a 29-year-old electrical technician, suffered an electric discharge during the installation of a generator. The company said work in the area was immediately halted and started an investigation to determine the cause of the accident. State-owned Codelco, the world's largest copper producer, said the technician was employed by German construction firm Zublin, which had been contracted to work on the Andes Norte project. Parts of El Teniente's mining operations had been halted recently due to recent torrential rainfall, but underground operations and work on the Andes Norte project continued.

Persons: SANTIAGO, Codelco, Osvaldo Bustamante Frias, Fabian Cambero, Carolina Pulice, Sarah Morland, Isabel Woodford, Sonali Paul Organizations: Thomson Locations: Teniente, Chile

☆ Storm Beatriz approaches Mexican Pacific resorts, hurricane expected
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 29 (Reuters) - Storm Beatriz formed off Mexico's Pacific coast on Thursday and will likely strengthen into a hurricane by Friday, prompting the government to issue warnings for popular beach resorts as it heads near shore, the National Hurricane Center (NHC) said. The storm is expected to "move very near or along the coast of southwestern Mexico" and is moving west-northwest near 12 mph (19 km/h),the U.S.-based NHC said late Thursday. "Beatriz is likely to become a hurricane on Friday," the NHC said. A tropical storm warning is also in effect from Punta Maldonado in the southwestern state of Guerrero, home to tourist hotspot Acapulco, to Zihuatanejo, another popular beach town in the state. Swells were also forecast along Mexico's southwestern coast, likely to cause life-threatening surf and rip current conditions.

Persons: Storm Beatriz, Beatriz, Cassandra Garrison, Isabel Woodford, Mark Porter, Cynthia Osterman Organizations: MEXICO CITY, National Hurricane Center, NHC, Punta Maldonado, Thomson Locations: MEXICO, Mexico, U.S, Cabo Corrientes, Jalisco, Punta, Guerrero, Acapulco, Oaxaca

☆ Exclusive: Latam unicorn Merama cuts nearly 10% of staff amid 'strategy' refocus
▼ + stars: | 2023-06-29 | by ( Isabel Woodford | Thomson Reuters | Isabel Is A British-Spanish Journalist Based In Mexico City. She Joined Reuters In As Part Of The Latin America News Hub | ) www.reuters.com time to read: +1 min

The company, which has raised $345 million in funding from the likes of SoftBank Group (9984.T) and was last valued at $1.2 billion, has headquarters in Mexico and Brazil. CEO Sujay Tyle said the total number laid off was around 8-9%, with the company's headcount remaining over 400 employees. He added that those affected were concentrated in projects that were no longer a priority, with plans to refocus on brands generating over $15 million in revenue. "It was a difficult day," Tyle said of the layoffs, adding there were no plans for another series of job cuts. Tyle added that the company had a "quite healthy runway" and was now cash flow positive.

Persons: Sujay Tyle, Tyle, Isabel Woodford, Diane Craft Organizations: MEXICO CITY, Reuters, SoftBank, Thomson Locations: MEXICO, Mexico, Brazil, Brazilian, Colombian

☆ Petrobras wins appeal in multi-billion dollar labor case
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

Companies Petroleo Brasileiro SA Petrobras FollowBRASILIA, June 26 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) has won its appeal in the Supreme Court against a 2018 labor conviction, avoiding billions of dollars in payments. Petrobras was charged in 2018 by Brazil's top labor court for divergences in the minimum salary remuneration agreed between the company and its employees, known as RMNR. The company was then liable to pay at least 17 billion reais ($3.57 billion) in salary corrections. The final decision to annul the case comes more than a year after supreme court Justice Rosa Weber asked for its temporary suspension. In a statement, Petrobras said it was awaiting the full written judgment "to provide information to the market about the decision."

Persons: Rosa Weber, Ricardo Brito, Carolina Pulice, Isabel Woodford Organizations: Petroleo Brasileiro SA Petrobras Follow, Petrobras, PETR4, Thomson Locations: Petroleo Brasileiro SA Petrobras Follow BRASILIA

MEXICO CITY, June 26 (Reuters) - A woman who had just given birth was among 141 migrants detained at a bus checkpoint in southeastern Mexico on Monday, the same day another large group of migrants was found in the area crowded into the back of a trailer truck. The mother and her newborn girl were taken to a hospital after being detained, according to a statement by the National Migration Institute (INM). The mother was among a group of mostly Guatemalans found on the bus in the Gulf state of Veracruz. "(The woman) gave birth with the help of those that traveled with her, who cut the umbilical cord," the INM added. It comes after the institute reported on Monday that another 130 Guatemalan migrants had been detained in a truck in the same state.

Persons: Daina Beth Solomon, Isabel Woodford, Gerry Doyle Organizations: MEXICO CITY, National Migration Institute, United, Thomson Locations: MEXICO, Mexico, Gulf, Veracruz, Texas, United States

☆ MLB roundup: Astros win finale with Dodgers in 11 innings
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +12 min

Astros rookie right-hander Hunter Brown gave up one run on three hits over six innings, Ryan Pressley (2-2) earned the win and Seth Martinez collected his first career save. Dodgers starter Tony Gonsolin gave up four runs on five hits over five innings. Starter Bailey Ober gave up three runs and five hits and struck out eight in six innings. Pete Alonso had three RBIs via a two-run single in the third and a homer in the seventh, while Francisco Lindor also went deep for the Mets. Padres starter Seth Lugo (3-4) gave up three runs on seven hits with four strikeouts and no walks in five-plus innings.

Persons: Jeremy Pena, Jose Abreu, Alex Bregman, Corey Julks, Bregman, Hunter Brown, Ryan Pressley, Seth Martinez, Freddie Freeman, Mookie Betts, Will Smith, Tony Gonsolin, Gonsolin, Yency Almonte, Willson Contreras, Louis, Paul Goldschmidt, Marcus Stroman, Lars Nootbaar's, Matthew Liberatore, Jake Woodford, Jordan Hicks, Royce Lewis, Lewis, Donovan Solano, Bailey Ober, Griffin Jax, Jhoan Duran, Zach McKinstry, Michael Lorenzen, Brendan White, Carlos Correa, Kyle Schwarber, Trea Turner, Jeff Hoffman, Pete Alonso, Francisco Lindor, Anthony Santander, Kyle Bradish, Felix Bautista, Cal Raleigh, Harrison Bader, Gerrit Cole's, Anthony Volpe, John King, Jose Trevino, Bader, Yerry Rodriguez, Ezequiel Duran, Volpe, Oswaldo Cabrera, Michael King, Adolis Garcia, Corey Seager, Jonah Heim, Leody Taveras, Cavan Biggio, Yusei Kikuchi, George Springer, Rickey Henderson, Kikuchi, Luis Medina, Tony Kemp, Matt Olson, Olson, Raisel Iglesias, Kevin Newman, Matt McLain, Chris Sabo, Owen Miller's, Miller, Trevor Stephan, Joey Wiemer, Elvis Peguero, Devin Williams, Cleveland, Luis Robert Jr, Robert, Kutter Crawford, Jesse Scholtens, Crawford, Adam Duvall's, Justin Turner, Eury Perez, Perez, Dontrelle Willis, Jonathan Davis, Luis Arraez, Ezequiel Tovar, Austin Gomber, Justin Lawrence, Shohei Ohtani, Eduardo Escobar, Taylor Ward, Ketel Marte, Patrick Bailey, Evan Longoria, Davis, Blake Sabol, Marte, Tyler Glasnow, Jose Siri, Taylor Clarke, Harold Ramirez's, Drew Waters, Glasnow, Pete Fairbanks, Colin Poche, Yandy Diaz, Siri, Maikel Garcia, Daniel Lynch, MacKenzie Gore, Jeimer Candelario, Joey Meneses, Tim Hill, Candelario, Meneses, Gore, Seth Lugo Organizations: Houston Astros, Los Angeles Dodgers, Astros, Houston, Dodgers, Los Angeles, Cardinals, Cubs, Chicago, Tigers, Minnesota, Detroit, Twins, Phillies, Mets, Philadelphia, Orioles, Mariners, Baltimore, Santander, Cal, Yankees, Rangers, Texas, Blue Jays, Athletics, Cavan, Toronto, Oakland, Braves, Reds, Cincinnati, Brewers, Milwaukee, Cleveland, White Sox, Red Sox, Boston, Marlins, Pirates, Miami, Pittsburgh, Rockies, Angels, Colorado, The Rockies, Diamondbacks, Giants, Arizona, J.D, Rays, Royals, Tampa Bay, Kansas City, Nationals, Padres, Washington, Thomson Locations: Los Angeles, London, Chicago, New York, Seattle, Atlanta, Cleveland, Los, Denver, San Francisco, St . Petersburg, Fla, Kansas, San Diego

☆ Curfews imposed after more than 20 killed in north Honduras
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +2 min

TEGUCIGALPA, June 25 (Reuters) - The Honduran government announced curfews on Sunday in two northern cities after more than 20 people were killed overnight in separate attacks amid escalating violence in the country. President Xiomara Castro announced a 15-day curfew in Choloma between 9 pm and 4 am, effective immediately, and another in San Pedro Sula, effective July 4. There has been a partial state of emergency in parts of Honduras since December in a bid to confront violent gangs and turf wars. The minister, speaking at a press conference, added that 1,000 additional police and military are being sent to the Sula Valley, where Choloma and San Pedro Sul are located. Reporting by Gustavo Palencia; Writing by Isabel Woodford; Editing by Chris Reese and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: curfews, Edgardo Barahona, San Pedro Sulay, Xiomara Castro, Castro, Gustavo Sanchez, San Pedro Sul, Gustavo Palencia, Isabel Woodford, Chris Reese, Lincoln Organizations: Reuters, Twitter, Security, Thomson Locations: TEGUCIGALPA, Honduran, Choloma, Valle, Sula, San Pedro, San Pedro Sula, Honduras, Tegucigalpa

[1/10] People attend to cast their vote at a polling station during the first round of Guatemala's presidential election in Chinautla, Guatemala, June 25, 2023. She is up against more than 20 other candidates, including Edmond Mulet, a career diplomat, and Zury Rios, daughter of the late dictator Efrain Rios Montt. "All the young people right now will have a role in politics in Guatemala in 20 years time ... "(The next) four years won't allow time to undo how poorly managed the government has been for so many years," said Andres Nolasco, a 25-year-old accountant from Guatemala City. Reporting by Sofía Menchú in Guatemala City and Diego Oré in Mexico City; Writing by Isabel Woodford; Editing by Daniel Wallis, Chizu Nomiyama and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Sandra Torres, Edmond Mulet, Zury Rios, Efrain Rios Montt, Maximo Santacruz, Julio Valenzuela, Alejandro Giammattei, Carlos Pineda, Pineda, Carolina Jimenez, San Jose del Golfo, Irma Palencia, Andres Nolasco, Torres, Alvaro Colom, Sofía Menchú, Diego Oré, Isabel Woodford, Daniel Wallis, Chizu Nomiyama, Chris Reese Organizations: REUTERS, GUATEMALA CITY, Young, European Union, Washington, Central American, Thomson Locations: Chinautla, Guatemala, Josue, GUATEMALA, United States, America, WOLA, San Jose, Guatemala City, Mexico City

[1/2] A man watches television while cooling himself with an electric ventilator as temperatures rise during an unusual heat wave, in Monterrey, Mexico June 15, 2023. On Wednesday, daily demand was projected to peak even higher at 51,782 megawatts per hour, according to Cenace data. Meanwhile, neighboring Texas urged power conservation after the grid operator on Tuesday evening issued a warning for "projected reserve capacity shortage". In Michoacan state, one town had been without electricity for several days, after an energy transmitter exploded. The heat wave in Mexico is forecast to continue for several more days.

Persons: Daniel Becerril, Cenace, Jorge Musalem, Andres Manuel Lopez Obrador, Isabel Woodford, Adriana Barrera, Lisa Shumaker Organizations: REUTERS, MEXICO CITY, National Center for Energy Control, Twitter, Local, CFE, Thomson Locations: Monterrey, Mexico, MEXICO, Texas, Michoacan

☆ 'World's fastest accountant' Amo-Dadzie goes under 10 seconds in Graz 100m
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - Eugene Amo-Dadzie calls himself the world's fastest accountant and the number-crunching British athlete put his money where his mouth is by scorching the track in Graz, Austria with a superb 9.93 seconds finish in the 100 metre run. The 30-year-old full-time accountant, who only started running seriously four years ago, improved on his personal best at the Horst Mandl Memorial last week to become the quickest 100m runner in Europe this year. "I got a really good reaction, a really good start and then it was like 'Do not let your foot off the gas'," Amo-Dadzie told the BBC. "I leaned towards the line, looked over, saw the time began with a nine and went crazy. "I still refer to myself as an accountant that happens to operate in the world of track and field."

Persons: Eugene Amo, Dadzie, Horst Mandl, Linford Christie, James Dasaolu, Zharnel Hughes, Reece Prescod, bloomer, Shrivathsa Sridhar Organizations: BBC, Woodford Green Athletics Club, European, Britain, Thomson Locations: British, Graz, Austria, Europe, Bengaluru

☆ 25 dead following reported riot in women's prison in Honduras
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

[1/3] Security forces operate outside the Centro Femenino de Adaptacion Social (CEFAS) women prison following a deadly riot in Tamara, on the outskirts of Tegucigalpa, Honduras, June 20, 2023. REUTERS/Fredy RodriguezTEGUCIGALPA, June 20 (Reuters) - Honduran authorities have discovered 25 charred bodies in a women's prison, a spokesperson from the public prosecutors' office said on Tuesday after a reported prison riot. Authorities are working to identify the bodies, spokesperson Yuri Mora said, amid local media reports that a riot had broken out in the Centro Femenino de Adaptación Social (CEFAS) prison, a women's penitentiary around 20 kilometers from the capital city Tegucigalpa. There is a history of deadly prison incidents in Honduras, with 18 inmates reportedly killed in a gang fight in a penitentiary in 2019, and over 350 dying in a fire in 2012. Reporting by Gustavo Palencia; Writing by Isabel Woodford; editing by Stephen EisenhammerOur Standards: The Thomson Reuters Trust Principles.

Persons: Fredy Rodriguez, Yuri Mora, Gustavo Palencia, Isabel Woodford, Stephen Eisenhammer Organizations: Security, Centro Femenino de, REUTERS, Fredy, Authorities, Thomson Locations: Tamara, Tegucigalpa, Honduras, Fredy Rodriguez TEGUCIGALPA

☆ Mexico's annual inflation hits lowest since August 2021, beating forecasts
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, June 8 (Reuters) - Mexico's annual inflation rate slowed in May for a fourth consecutive month to 5.84%, data from statistics agency INEGI showed on Thursday, beating forecasts and continuing a downward trend spurred by a long cycle of rate hikes. Headline inflation came in below a forecast of 5.90% and is now at its lowest since August 2021. Jason Tuvey, Deputy Chief Emerging Markets Economist at Capital Economics said that inflation forecasts remained overly optimistic. Banxico does not expect inflation to reach its target rate of 3%, plus or minus a percentage point, until late 2024. Annual core inflation, considered a better gauge of price trends, was 7.39%, as forecast.

Persons: Jason Tuvey, Isabel Woodford, Jason Neely, Christina Fincher Organizations: MEXICO CITY, Capital Economics, Thomson Locations: MEXICO, Mexican

☆ Mexican president urges unity among ruling party contenders
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 6 (Reuters) - Mexican President Andres Manuel Lopez Obrador said he had sought to promote unity within the ruling National Regeneration Movement (MORENA) during a dinner on Monday evening attended by the party's main contenders to succeed him. Ebrard is one of the leading contenders to succeed Lopez Obrador, though most recent polling has tended to give Mexico City Mayor Claudia Sheinbaum a slight edge in the race. Lopez Obrador said Ebrard, Sheinbaum and Interior Minister Adan Augusto Lopez, another presidential hopeful, were at the dinner, where MORENA leaders congratulated party stalwart Delfina Gomez for winning the State of Mexico's gubernatorial election on Sunday. "And we also met to maintain unity, so that there aren't divisions," the leftist president told reporters. Reporting by Dave Graham; Editing by Isabel Woodford and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Andres Manuel Lopez Obrador, MORENA, Marcelo Ebrard, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Ebrard, Adan Augusto Lopez, Delfina Gomez, Dave Graham, Isabel Woodford, Paul Simao Organizations: MEXICO CITY, Regeneration, Mexico City Mayor, Thomson Locations: MEXICO, Sheinbaum, Mexico's

☆ At least 42 dead, thousands homeless after floods in Haiti
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Flooding from torrential rains in Haiti has left at least 42 people dead over the past couple days and dozens more missing and injured, officials said on Monday. The civil protection agency said on Twitter on Monday the death toll had risen since Sunday night after floods over the weekend hit various parts of the country, including near the capital Port-au-Prince. Aid agencies have been delivering food to displaced persons as civil protection officials warned over the weekend that the agricultural sector in parts of the country had been hard hit. The deadly floods come as Haiti faces an already difficult scenario amid rampant gang violence, which the head of civil protection told the Miami Herald had impeded rescue efforts. The rains coincide with the start of the Atlantic hurricane season, which runs from June to November.

Persons: Ariel Henry, Isabel Woodford, Angus MacSwan Organizations: Twitter, ., Miami Herald, Atlantic, Thomson Locations: Haiti

☆ Mexican prosecutors say 45 bags of human remains may belong to missing group
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, June 2 (Reuters) - Human remains discovered in 45 bags in western Mexico appear to resemble the features of several missing call center employees, state prosecutors said in a statement late on Thursday. The Jalisco Prosecutor's Office said the remains found in the municipality of Zapopan were still subject to forensic tests to formally identify the bodies. Authorities made the discovery in a ravine on the outskirts of Jalisco's capital city, Guadalajara, earlier this week as part of a search for seven call center workers in their 20s and 30s who had disappeared. Authorities have been working to determine how many individuals the remains in the bags relate to, their identities, and how they died. The state prosecutor's office said in a statement that the discovery came following a tip-off.

Persons: Rosa Icela Rodriguez, Isabel Woodford, Sharon Singleton, Chizu Organizations: MEXICO CITY, Jalisco Prosecutor's, Authorities, Prosecutors, Jalisco New Generation, Nueva Plaza, Thomson Locations: MEXICO, Mexico, Jalisco, Zapopan, Jalisco's, Guadalajara

☆ Argentina to renew, expand China currency swap line
▼ + stars: | 2023-06-02 | by ( Eliana Raszewski | ) www.reuters.com time to read: +1 min

BUENOS AIRES, June 2 (Reuters) - Argentina has signed a deal to renew and potentially expand its currency swap line with China, the South American country's central bank said in a statement on Friday, a boost to the indebted nation's dwindling foreign currency reserves. The bank said that the two countries had agreed to renew the total 130 billion yuan ($18.36 billion) swap line for three more years, and could double the freely accessible part of the swap from 35 billion yuan now to 70 billion yuan, some $10 billion. "The procedure has begun to increase the usable amount by another 35 billion yuan," Argentina's central bank said following a meeting between officials in Beijing. The country's foreign currency reserves have fallen sharply this year due to a historic drought that slashed grains exports, the main source of dollar revenue, and the peso currency has weakened under the weight of 109% annual inflation. ($1 = 7.0820 Chinese yuan renminbi)Reporting by Eliana Raszewski; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Eliana Raszewski, Brendan O'Boyle, Isabel Woodford Organizations: International Monetary Fund, Thomson Locations: BUENOS AIRES, Argentina, China, Beijing

☆ Report of Argentina fraud probe sinks shares in dLocal
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +1 min

May 26 (Reuters) - Uruguayan fintech dLocal, the South American country's first unicorn, saw its shares plummet on Friday, after Argentine news outlet Infobae published an article saying the government was investigating it for a possible fraud of at least $400 million. Citing unnamed official sources, Infobae said the Argentina government was investigating the fintech for "improper manouevers" and transfers abroad that would constitute a fraud, with most of its income coming from services sold to subsidiaries of the same firm. Infobae said sources at Argentina's customs agency said they were considering reporting dLocal to the U.S. Securities and Exchange Commission (SEC). dLocal issued a statement denying the article, claiming it had been the victim of "misleading allegations" and that it would continue to process payments normally in Argentina. The fintech's shares were down 17% in afternoon trading after losing more than 34% earlier in the day.

☆ Mexico asks Texas to halt costly cargo inspections; will file USMCA complaint
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 15 (Reuters) - Mexico's economy ministry is urging the U.S. state of Texas to remove inspections of cargo crossing the border, which it said in a statement on Monday is causing millions of dollars in losses for U.S. and Mexican firms. The Mexican government will file a complaint with the trade facilitation committee under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Earlier this month, Texas started inspecting commercial vehicles crossing into the state from Mexico at a bridge connecting the Texas city of Brownsville with the Mexican city of Matamoros. Texas Governor Greg Abbott has ordered similar inspections before. In April 2022, cargo inspections prompted significant supply chain disruptions until Abbott reached a deal with the governors of four neighboring Mexican states to increase security efforts.

Companies Brf Sa FollowMay 15 (Reuters) - Brazil, the world's top chicken exporter, has for the first time confirmed Highly Pathogenic Avian Influenza (HPAI) cases but only in wild birds, the Agriculture Ministry said on Monday. The avian influenza virus can kill entire flocks of birds and cause losses for the farming sector. Epidemiological surveillance services will be intensified to detect potential cases in wild and commercial animals in the area close to where the cases were confirmed, a government source said. The agriculture ministry said that because the cases were detected in wild animals, Brazil's status "as a country free of HPAI" was not affected. The main importers of Brazil's chicken products in April included China, Japan, South Africa and Saudi Arabia.

☆ Mexico's mighty peso hits 7-year record high against U.S. dollar
▼ + stars: | 2023-05-15 | by ( Noe Torres | ) www.reuters.com time to read: +2 min

Some analysts chalk up the peso's latest gains, however, as mostly the flip side of a weakening greenback. The peso gained 0.95% on Monday to trade at 17.42 pesos per dollar, its strongest level since May 2016. President Andres Manuel Lopez Obrador repeatedly touts the peso's strength as evidence of sound macroeconomic policies, especially his administration's budget austerity and pledge to avoid taking on new debt. "A big part of (the peso's strength) is the dollar's weakness," he said, adding that the Mexican economy further benefits from growing flows of fixed investments into the country. "Mexico has shown itself to be the least ugly person at the party," quipped Gonzali, helping it attract more dance partners.

☆ Grupo Mexico nearing $7 bln deal for Citi's Banamex unit -source
▼ + stars: | 2023-05-11 | by ( Andres Gonzalez | ) www.reuters.com time to read: +2 min

[1/2] The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. As part of the deal, Citi will retain a roughly 10% stake in the Banamex unit, the source said, requesting anonymity as the discussions are confidential. Reuters had reported in February that Grupo Mexico's proposed deal for Banamex could value it at $7 billion or more. Grupo Mexico did not immediately respond to a request for comment. Bloomberg reported on talks advancing between Grupo Mexico and Banamex earlier on Wednesday.

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