Economy

Friday, May 15th 2020 - 08:53 UTC
Latin America's two main economies with daily record virus cases, but also desperate to reopen activity

Brazil and Mexico on Thursday reported a record one-day rise in new coronavirus cases, just as leaders of both countries intensified attempts to reopen their economies even as the spread of the virus in Latin America is seemingly gathering pace.
Friday, May 15th 2020 - 08:52 UTC
Brazil lowers economic outlook to minus 4,7% in 2020; pre crisis recovery level will be reached in 2022

Brazil’s government lowered its 2020 economic outlook, forecasting a gross domestic product contraction of 4.7%, which would signal the country’s biggest economic crash in more than a century.
Friday, May 15th 2020 - 08:49 UTC
Next Monday Itaipu opens its spillway to help lift the drought stricken Parana river level

The world's largest operational hydroelectric dam, Itaipu Plant announced that starting next Monday, May 18, it will open its spillway to help Paraguay and Argentina, which are suffering from a drought and hence having problems transporting their grain harvest.
Friday, May 15th 2020 - 08:27 UTC
Trump not interested in speaking with president Xi and suggests cutting “whole relationship with China”

President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second-largest economy.
Friday, May 15th 2020 - 08:05 UTC
Trump administration issues Global Maritime Advisory guidelines for ship owners and insurers

The Trump administration on Thursday issued guidelines to help ship owners and insurers avoid the risks of sanctions penalties, standards that maritime players and a senior State Department official said were modified following months of discussions with industry.
Friday, May 15th 2020 - 08:04 UTC
Massive €18 billion support for France's tourism sector, “rescuing it is a national priority”

France announced measures worth €18 billion (US$19 billion) to support its tourism sector, which has been hammered by the COVID-19 crisis and resulting shutdown in beaches, leisure attractions, and hotels.
Friday, May 15th 2020 - 07:51 UTC
China's industrial output in April returned to growth but retail sales remained weak

China's industrial output returned to growth for the first time this year in April, official data showed on Friday, as the country continued its gradual recovery after the coronavirus brought activity to a near-halt.
Friday, May 15th 2020 - 07:40 UTC
WTO chief to step down in September: plenty of time to agree on a successor next year

The World Trade Organization chief announced on Thursday he will step down on August 31, a year before his term ends, despite the COVID-19 pandemic ravaging the global economy. Brazil's Roberto Azevedo said it had been a “personal decision” reached with his family, and stressed that he was not leaving to pursue “political opportunities”.
Thursday, May 14th 2020 - 08:59 UTC
Chile orders total quarantine for Santiago's population following a virus peak of infections

Chile ordered a mandatory total quarantine for the capital Santiago's seven million people on Wednesday, after authorities reported a 60% spike in coronavirus infections in 24 hours, dealing a stunning blow to hopes the economy would soon reopen.
Thursday, May 14th 2020 - 08:59 UTC
Brazil becomes Covid-19 sixth worst hit country and the economy is forecasted to contract 4,7% in 2020

Brazil registered a record number of new cases of COVID-19 on Wednesday surpassing France's tally to become the sixth-worst hit country, as the coronavirus sends the economy towards its worst year since at least 1900.