Economy

• Thursday, February 28th 2019 - 08:37 UTC

  Brazilian consortium interested in Ford's Sao Paulo manufacturing plant

  

  Brazilian automaker CAOA, which produces vehicles with Korea’s Hyundai Motor Co and China’s Chery Automobile Co, is in talks to buy a Ford Motor Co plant in the country that is slated to close by 2019, according to sources reported in the Sao Paulo media.

• Thursday, February 28th 2019 - 08:23 UTC

  Investigation into Odebrecht corruption network in the Netherlands

  

  Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute US$ 100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA.

• Wednesday, February 27th 2019 - 09:27 UTC

  Orthodox, US trained economist, Campos Neto confirmed as Brazilian central bank governor

  

  Brazil's Senate-confirmed Roberto Campos Neto as central bank governor on Tuesday, after he stressed that controlling inflation and reining in public spending were critical to supporting economic growth.

• Tuesday, February 26th 2019 - 09:07 UTC

  Trump anticipates a “signing summit” with China's Xi: trade agreement “very, very close”

  

  US President Donald Trump said on Monday he expects to hold a “signing summit” with China’s President Xi Jinping to seal a trade deal, since negotiators are “very, very close” to an agreement. Cheering global stock markets, the new comments confirm the dispute will not ratchet up immediately, averting an even bigger impact on the global economy. 

• Monday, February 25th 2019 - 09:15 UTC

  PM May considering delaying Brexit deadline for two months

  

  Prime Minister Theresa May is considering a plan under which Britain’s exit from the European Union would be delayed for up to two months, the Telegraph reported on Sunday. British government officials have drawn up a series of options, which were circulated at the weekend, in a bid to avoid resignations by ministers determined to support a backbench bid to take a “no deal” Brexit off the table this week, according to the Telegraph.

• Monday, February 25th 2019 - 09:09 UTC

  Ecuador reaches an agreement with IMF and will receive US$ 4.2 billion

  

  Ecuador and the International Monetary Fund (IMF) staff have reached an agreement on a set of policies to underpin a US$4.2 billion (435% of quota and SDR3.035 billion) arrangement under the IMF’s Extended Fund Facility (EFF). This arrangement, which is subject to IMF Executive Board approval, would provide support for the Ecuadorian government’s economic policies over the next three years.

• Monday, February 25th 2019 - 08:58 UTC

  US/China trade talks make “substantial progress”; Trump delays deadline for more tariffs

  

  The United States is delaying a planned increase of tariffs on more than US$200 billion in Chinese exports after “substantial progress” made in trade talks, President Donald Trump said on Sunday. Trump also said he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal.

• Monday, February 25th 2019 - 08:27 UTC

  Apocalyptic scenario for Brazil if pensions' reform is not approved, warns Economy ministry

  

  Brazil’s Economy Ministry warned that the economy will slip into recession next year and official interest rates could more than double unless Congress approves measures to reduce the deficit in the country’s pension system.

• Saturday, February 23rd 2019 - 09:13 UTC

  China and US hail progress in trade talks: “a deal more likely than not” said Trump

  

  Chinese negotiators have agreed to extend their stay in Washington, as the US and China push to strike a trade deal. The decision was the latest sign that the two countries may be nearing an agreement, as they look for a way out of last year's punishing trade war.

• Saturday, February 23rd 2019 - 08:43 UTC

  Brexit should be delayed if a deal is not approved by Parliament, warn three ministers

  

  Brexit should be delayed if Parliament does not approve a deal in the coming days, three cabinet ministers have warned publicly for the first time. Ahead of crucial votes in the Commons, Greg Clark, Amber Rudd and David Gauke told the Daily Mail time was running out and that they hoped for a breakthrough in negotiations soon. If not, they said they are prepared to defy Theresa May and vote for a delay.