Economy

Thursday, August 13th 2020 - 06:44 UTC
Record debt in Brazil, but only 3% is in foreign currency and government trusts rock bottom rates global

Brazil is amassing a record debt that has evoked memories of crises past in South America's largest economy, but some economists say rock-bottom interest rates and low foreign debt mean the government can continue to spend its way out of recession.
Wednesday, August 12th 2020 - 09:59 UTC
Investors are now focused on the IMF and Argentina’s fiscal policy, “which has been hard to come by”

After reaching a US$ 65 billion restructuring agreement in principle with its creditors earlier this month, Argentina must now turn to relief from the International Monetary Fund to free up cash in the near term, the Institute of International Finance, IIF said on Tuesday.
Wednesday, August 12th 2020 - 09:40 UTC
Mounting job losses are expected as Britain winds down its job-retention scheme

The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labor market as the government winds down its huge job-protection scheme.
Wednesday, August 12th 2020 - 09:19 UTC
Far East absorbs all the pork Brazil can produce; in July exports soared 48% over a year ago

According to the Brazilian Association of Animal Protein, (ABPA), in July, Brazilian pork exports (both fresh and processed) totaled 100,400 tons – 47.9% higher than in the same period of 2019, with 67,900 thousand tons. In revenue terms, the total balance of July reached US$203.1 million, a figure 37.3% higher than that registered in July last year, at US$147.9 million.
Wednesday, August 12th 2020 - 08:27 UTC
Brazilian commodities exports booming: corn shipments exceed soybean

Data released on Monday by Brazil' Foreign Trade Secretariat (Secex) indicates that corn exports reached 2 million tons in the first week of August and exceeded soybean shipments in this period.
Tuesday, August 11th 2020 - 09:00 UTC
UK's oil industry close to collapse, says Premier Oil director; North Sea not profitable below US$ 60 a barrel

The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
Tuesday, August 11th 2020 - 08:20 UTC
Encouraging second half first month for Brazilian car manufacturing

Brazilian car manufacturing started to recover during the first month of the second half of the year. Numbers released by the National Association of Automotive Vehicle Manufacturers (Anfavea), point out that in July, production reached 170,300 units, an increase of 73% over June, but still 36.2% lower than the same month last year. Despite the increase, it was still the worse July since 2003.
Tuesday, August 11th 2020 - 08:17 UTC
Chinese and foreign companies will be delisted from Wall Street if they don't comply with US accounting standards

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from US stock exchanges as of the end of 2021.
Monday, August 10th 2020 - 07:56 UTC
Falklands' Covid support paid out over a £1m; tourism expected to continue tied to the scheme

The Falkland Islands government, FIG, up to July 6, had paid out £1,016,570 for Covid support measures from the total approved funding of £8.99m. The figure, from a paper presented to the Executive Council does not include the wool clip purchase scheme, which is expected to total around £2.9m.
Monday, August 10th 2020 - 07:55 UTC
Oil prices climbing on prospects of a stimulus deal to help US economy

Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.