Economy

Monday, April 27th 2020 - 07:59 UTC
Mercosur: Argentina only interested in block's negotiations with Europe

In the midst of the chaotic situation caused by the pandemic, the Argentine government announced the abandonment of Mercosur negotiations to prioritize the country’s domestic economy and the struggle against the virus. The rest of the bloc members must evaluate legal, institutional, and operational measures emerging from the decision.
Monday, April 27th 2020 - 07:58 UTC
Mandatory quarantine in Argentina has been expanded until May 10

Argentina will extend a mandatory nationwide quarantine period until May 10 in a bid to combat the advance of the coronavirus, President Alberto Fernandez announced on Saturday. The Argentine government-imposed shelter-in-place measure, in effect since mid-March, had been set to expire on Sunday.
Monday, April 27th 2020 - 07:45 UTC
Collapse of Boeing deal plunges Brazilian plane maker Embraer into an uncertain future

Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a US$ 4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
Monday, April 27th 2020 - 07:05 UTC
Scotland salmon industry accused of overestimating its value and employment

The Scottish Government is being urged to suspend its support for increased production in the salmon farming sector. It comes as a new report claims the impact the industry has on employment and the economy has been hugely overestimated.
Saturday, April 25th 2020 - 08:58 UTC
COVID-19 K.O. for travel and tourism industry: 100 million jobs on the line

The Travel & Tourism sector faces a staggering 100 million jobs losses due to the COVID-19 pandemic, according to the World Travel & Tourism Council, WTTC. The startling figure, based on research from WTTC, has increased by over 30% in the last four weeks, indicating the sheer crisis affecting the sector.
Saturday, April 25th 2020 - 08:57 UTC
Brazil in turmoil following the resignation of Moro complaining of “political interference” from Bolsonaro

Sergio Moro, Brazil's justice and security minister resigned on Friday after clashing with President Jair Bolsonaro over the sacking of the federal police chief. Moro, a former anti-corruption judge, hit out at “political interference” in the federal police, saying he could not do his job without “autonomy” for the force.
Saturday, April 25th 2020 - 08:50 UTC
Brazilian stocks plunge 9.6% and the Real sets a new record low

Brazilian stocks sank as much as 9.6%, and the Real slid to new lows on Friday as political turmoil in the country added to mounting concerns over the coronavirus outbreak, while risk aversion ravaged Latin American markets.
Friday, April 24th 2020 - 08:55 UTC
IMF holding productive talks with Argentina; expects an accord with private creditors can be reached

The International Monetary Fund’s discussions with Argentina have been very productive and the fund is willing to do whatever it can to help get the Argentine economy back on a solid footing, an IMF official told reporters.
Friday, April 24th 2020 - 08:28 UTC
Brazil's Real remains at record low: overstretched budget and another interest rate cut next week

Brazil's Real eyed a fresh record low on Thursday, while other Latin American currencies were muted as markets mulled over increasingly dire economic readings due to the coronavirus.
Friday, April 24th 2020 - 08:25 UTC
With oil royalties plummeting, Rio state challenged by investment funds

Already grappling with one of Brazil’s most severe outbreaks of the novel coronavirus and a budget deep in the red, Rio de Janeiro state faces a potential threat to its solvency at the hands of investment giants PIMCO and Dodge & Cox.