Business briefs

MEXICO CITY. A new association of Latin American ports and terminals, Latinports, was launched in Veracruz, Mexico. The association comprises more than 20 public and private entities from Brazil, Chile, Colombia, the Dominican Republic, Ecuador and Mexico. The new association aims to develop Latin American ports and focus on the relationship between public and private port terminals as well as their contact with global counterparts.

WASHINGTON. The Obama administration's mortgage relief program is finally gaining traction. Nearly one in five eligible homeowners have been offered help so far, the government said yesterday. The plan had been slow to get going, but more than 571,000 loan modification offers, or 19 percent of those eligible, have been sent to nearly 3 million homeowners. Treasury says 48 mortgage companies are now involved, up from 38 in July.

VIENNA. OPEC appeared poised to hold oil production quotas unchanged Wednesday, with its ministers voicing satisfaction with current global crude prices. Instead, the focus at the organization's meeting in Vienna was to be on persuading members not to sell more oil than their quotas permit. The recommendation offers further indication that ministers from the bloc — suppliers of roughly 35 percent of the world's crude — are turning their aim toward encouraging member discipline. Compliance with the output limits, which are designed to support prices, has been waning.

PANAMA. The Panamanian government has eased up on tax reforms. The Colon Duty Free Zone (ZLC) will pay 5 percent tax instead of 10 percent originally proposed. The casinos will pay 15 percent of their gross income instead of 18 percent. Cigarettes weren’t that lucky, instead of 50 percent, they will have to pay the state 60 percent or 0.75 cents per box.