March 09, 2021 - 4:37 PM
MANAGUA, Nicaragua - Nicaraguaâs San Cristobal volcano erupted Tuesday, showering the northwestern city of Chinandega in ash.
Video from the scene showed dramatically reduced visibility in Chinandega early Tuesday afternoon and the sound of cinders falling onto homes, cars and streets.
âI was having lunch at home when the great blast came out and the sky started to darken,âsaid lawyer Pablo Medina, who lives about 4 miles (7 kilometres) from Nicaraguaâs tallest volcano. He said an intense odor of sulfur engulfed his home and ash coated everything.
âIt was a rapid eruption, a single big explosion and then the volcano spent some 30 minutes spewing gases,â said writer Jorge LenÃn Duarte, a cultural promoter in Chinandega.
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Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says
Mexican state oil company Petróleos Mexicanos (Pemex) would require more government support over the coming years if it wants to increase capital expenditures (capex) without taking on more debt, even if proposed tax breaks for the firm are passed by legislators, according to Fitch Ratings.
Senator Armando Guadiana, a member of President Andrés Manuel López Obrador’s Morena coalition, has introduced a bill that would see heavily indebted Pemex’s profit-sharing duty reduced to 35% from the current effective rate of 58%.
The current rate is scheduled to decrease to 54% in 2021, which would remain the effective rate if Guadiana’s bill fails to pass, said the Fitch analyst team led by Lucas Aristizabal.