Economy

Wednesday, March 11th 2020 - 06:39 UTC
Airfreight in Asia skyrockets as Chinese industry restarts with passenger flights grounded

Airfreight rates are skyrocketing after the grounding of many passenger flights in Asia has left shippers scrambling to book limited spots on cargo planes as Chinese industrial production restarts, according to industry insiders.
Tuesday, March 10th 2020 - 18:01 UTC
Argentina ready to begin restructuring of US$ 70bn in foreign law bonds

Argentina will revamp as much as US$ 68.8 billion in foreign law bonds as it restructures its debt, the government said in a decree on Tuesday, paving the way for tense negotiations as the country looks to strike a deal with creditors this month.
Tuesday, March 10th 2020 - 08:20 UTC
Argentine risk jumps on Monday to a record of 2,768 points, not seen since 2005

Argentine risk spreads on Monday shot to levels not seen since 2005 and sovereign bond prices fell 7.5%, as the coronavirus slammed global markets and the cash-strapped country prepared to restructure debt.
Tuesday, March 10th 2020 - 08:15 UTC
Black Monday cocktail: oil price war and coronavirus trigger market panic

World oil prices crashed on Monday, fuelling a vicious selloff on stock markets that were already buckling from the spreading coronavirus outbreak. Stocks tanked as the global oil market nosedived 30% at one stage after top exporter Saudi Arabia slashed the prices it charges customers following a bust-up with Russia over crude production cuts.
Tuesday, March 10th 2020 - 08:10 UTC
Coronavirus overshadowing Trump's optimism with the economy and reelection campaign

Concern that president Donald Trump himself could be exposed to the coronavirus through contact with two Republican lawmakers loomed on Monday, on a day when US stocks plummeted, feeding growing national anxiety. Trump, who flew back to Washington after a weekend golfing at his Florida resort and having dinner with Brazil's president Jair Bolsonaro, has spent weeks dismissing the seriousness of the threat.
Tuesday, March 10th 2020 - 06:32 UTC
Global breweries expanding their business in Brazil

Heineken NV will invest 865 million reais (US$183.14 million) to expand its Ponta Grossa brewing plant in Brazil, the company said on Monday, as competition between the world's two largest beer makers bubbles up.
Monday, March 9th 2020 - 08:57 UTC
Argentine farmers begin four day sales strike to protest higher export taxes

Argentina’s main farm groups will hold a four-day sales strike this week, officials with local growers groups said on Thursday, to protest a tax hike that soy crushing companies warn will cripple investment in the key sector.
Monday, March 9th 2020 - 08:55 UTC
Oil prices plunge 30% after OPEC fails to agree on production cuts; Russia clashes with Saudi Arabia

Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.
Monday, March 9th 2020 - 08:54 UTC
Trump and Bolsonaro discuss Venezuela and a bilateral trade accord

United States President Donald Trump hosted Brazilian president Jair Bolsonaro for dinner at his Mar-a-Lago resort in Florida on Saturday, where the two leaders discussed the U.S.-led effort to oust Venezuelan President Nicolas Maduro and spoke about a future trade deal.
Friday, March 6th 2020 - 11:00 UTC
“If I mess up”, the US dollar could reach 5 Real, admits Brazil's minister Guedes

Brazil’s economy minister blamed the Real’s slide to an all-time low on the coronavirus outbreak and said the currency could weaken to as much as 5 per dollar if he “messes up.” Paulo Guedes said the Real is weakening largely due to the economic impact of the epidemic, rather than a change in the country’s risk perception.