Economy

• Wednesday, October 16th 2019 - 17:40 UTC

  Brazilian economy still on the takeoff tarmac, lack of confidence blamed

  

  Brazil's economy is on an erratic path, according to economic activity data released for the third quarter of 2019. The economy shows no signs of a consistent recovery, and economic activity still depends on household consumption, trade, and the service sector.

• Wednesday, October 16th 2019 - 08:54 UTC

  Mercosur expects to conclude trade deals with Singapore and South Korea next year

  

  Mercosur aims to conclude free trade agreements Singapore and South Korea by next year, as it also eyes deals with several other Asian countries, a Brazilian diplomat said on Tuesday.

• Wednesday, October 16th 2019 - 08:35 UTC

  Brazil looking to a dynamic holiday season and temporary jobs

  

  Brazil's National Trade Confederation (CNC) announced that they expect 91,000 temporary jobs will be created in the upcoming holiday season. The figure is the highest estimated in the past six years and, if confirmed, will represent a 4% increase year-on-year.

• Wednesday, October 16th 2019 - 08:10 UTC

  A “ghost ship” smuggling Venezuelan oil probable cause of the massive spill along Brazilian northeast beaches

  

  A huge oil spill off Brazil's northeastern coast may have involved a “ghost ship” carrying Venezuelan oil in breach of US sanctions, a Petrobras expert close to the probe into the disaster said on Tuesday.

• Wednesday, October 16th 2019 - 08:01 UTC

  Roche family member claims “short term profit maximization has destroyed the planet”

  

  A member of Swiss drug-maker Roche's controlling family said that short-term profit maximization has “destroyed the planet” and the world needs a new breed of capitalism putting long-term interests first.

• Wednesday, October 16th 2019 - 07:51 UTC

  Fitch Ratings has LATAM sovereigns on the watch list

  

  One in four Fitch-rated corporates in Latin America is exposed to either a one-notch sovereign or country ceiling downgrade, while ratings for nearly one-third of issuers are vulnerable to a two-notch downgrade, according to the latest from Fitch Ratings.

• Wednesday, October 16th 2019 - 07:27 UTC

  Brazil eyes a US$1.45 billion payday as big oil flocks to pre-salt

  

  Brazil expects to pocket some US$ 1.45 billion from the sixth round of oil and gas block licensing for the pre-salt zone offshore. Reuters reports, citing the special secretary to the Economy Ministry, Waldery Rodriguez, that the total minimum sum of signing bonuses for all the blocks that will be tendered on November 7th is US$ 1.9 billion.

• Wednesday, October 16th 2019 - 04:51 UTC

  APEC finance ministers meeting in Chile, cautiously optimistic on a Beijing/USA trade agreement

  

  APEC finance ministers expressed “moderate optimism” on Tuesday that the United States and China will end their trade war and sign an agreement during the forum's summit in Santiago next month.

• Tuesday, October 15th 2019 - 09:51 UTC

  Brazil's truck makers anticipate a strong 8% growth prospect this year

  

  Brazil’s largest truck makers are expressing optimism again about the growth prospects for Latin America’s largest economy, even as the country continues to struggle to rebound from a deep recession that began in 2015.

• Tuesday, October 15th 2019 - 09:50 UTC

  Nobel Economics Prize for work in fighting global poverty by three US-based economists

  

  US-based economists Abhijit Banerjee, Esther Duflo from MIT, and Michael Kremer. Harvard University, won the 2019 Nobel Economics Prize on Monday for work in fighting global poverty that has helped millions of children by favoring practical steps over theory.