Economy

• Wednesday, January 30th 2019 - 10:01 UTC

  Guaidó plans to name new boards of directors at PDVSA and Citgo

  

  The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.

• Wednesday, January 30th 2019 - 09:59 UTC

  Brazil's federal debt increased 8.9% last year and is estimated to rise 11% in 2019

  

  Brazil’s federal debt rose to 3.88 trillion Reais ($1.03 trillion) in December, up 8.9% from 3.56 trillion Reais a year earlier, and is expected to rise further this year, the Brazilian Treasury said. The Treasury predicts public debt this year will swell to somewhere between 4.1 trillion and 4.3 trillion Reais, the upper end of which would represent an increase of almost 11%, it outlined in its annual financing plan.

• Wednesday, January 30th 2019 - 09:46 UTC

  Russia and China criticize US sanctions on Venezuela: “they undermine confidence in the international financial system”

  

  Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.

• Wednesday, January 30th 2019 - 09:41 UTC

  Parliament instructs PM May to renegotiate Brexit's Irish border backstop

  

  British lawmakers on Tuesday instructed Prime Minister Theresa May to demand that Brussels replace the Irish border arrangement known as the “backstop”, in a last-ditch attempt to renegotiate an exit treaty that the European Union says it will not change.

• Wednesday, January 30th 2019 - 09:39 UTC

  France rejects any EU/UK renegotiation deal and calls for credible proposals

  

  France on Tuesday rejected any renegotiation of the EU-UK divorce deal and urged Britain to make credible proposals after British lawmakers passed a motion instructing their government to secure changes to a key element of the deal.

• Wednesday, January 30th 2019 - 09:33 UTC

  Ecuador issues 10-year sovereign bonds at 10.75% yield

  

  Ecuador’s finance ministry said it had placed about US$1 billion in 10-year sovereign bonds in the international market. Proceeds from the 10.75% bonds will be used to strengthen the country’s reserves and help fund this year’s budget which has financing needs of about US$ 8 billion, the ministry said in a statement.

• Wednesday, January 30th 2019 - 08:54 UTC

  Latin American markets outperform world stocks struggling over US/China trade talks

  

  Latin American stocks rose on Tuesday, outperforming world stocks that struggled to hold gains ahead of keenly awaited U.S.-Sino trade talks, earnings of top technology companies and an impending U.S. Federal Reserve decision on interest rates.

• Wednesday, January 30th 2019 - 08:48 UTC

  Emerging markets vulnerable to US higher rates and stronger dollar

  

  Emerging markets face more downgrades than upgrades this year as foreign debt levels leave them vulnerable to rising U.S. interest rates and the strength of the dollar, according to Fitch Ratings. Latin America, the Middle East and Africa will be impacted more by lower credit scores because of the high share of their foreign-currency debt, said James McCormack, Hong Kong-based global head of the sovereign and supranational group at Fitch.

• Tuesday, January 29th 2019 - 10:19 UTC

  EU quotas for farming produce post Brexit trigger controversy

  

  The European Union on Monday adopted quotas for farming produce it will accept from third countries after Britain leaves the bloc and acknowledged this could happen before it has concluded talks with them on the subject.

• Tuesday, January 29th 2019 - 09:03 UTC

  Venezuela approves a new, privately run, foreign exchange system; dollar sells at 3.200 Bolivars, 34% dearer

  

  Venezuelan authorities on Monday approved a new, privately run foreign exchange system that will operate in parallel to the official currency control system, as an emboldened opposition challenges President de facto Nicolás Maduro.