Economy

• Thursday, December 27th 2018 - 09:20 UTC

  Brazil opens 100% ownership of Brazilian airlines to foreign investors

  

  Outgoing President Michel Temer issued an executive order that allows foreign groups to own 100% of a Brazilian airline. Previously, non-Brazilians were limited to 20% of shares. The decision occurs in the midst of a bankruptcy proceeding filed by Avianca Brasil.

• Thursday, December 27th 2018 - 08:42 UTC

  Strong 5% rebound of Wall Street markets on pledge the Fed chief will not be ousted

  

  Wall Street marked its best day in 10 years as stocks rallied back on Wednesday, giving some post-Christmas hope to a market that has otherwise been battered this December. The Dow Jones Industrial Average jumped more than 1,000 points — its biggest point-gain ever — rising nearly 5% as investors returned from a holiday break. The benchmark S&P 500 index also gained 5% and the technology heavy Nasdaq rose 5.8%.

• Thursday, December 27th 2018 - 05:27 UTC

  Cuba and Venezuela default on Brazilian development loans

  

  After defaults in Mozambique, Venezuela, and Cuba the Brazilian government froze credit lines for new exports, a measure that will affect mostly small and medium-sized businesses. The Brazilian Treasury Department will spend US$ 6 million to reimburse BNDES (National Bank For Economic and Social Development) for Cuba's default

• Wednesday, December 26th 2018 - 08:59 UTC

  RBS applies for a banking license in Germany; the bank already has on in the Netherlands

  

  The Royal Bank of Scotland has applied for a German banking license to help it retain clients in the European Union in the event of a no-deal Brexit. The move applies to all its subsidiaries, but would only affect NatWest, which trades across the bloc.

• Wednesday, December 26th 2018 - 06:51 UTC

  Market analyst views Argentina, Brazil on path to recovery in 2019

  

  Argentina, Brazil and India lead the prospects of an economic recovery, according to Michael Hasenstab of Templeton Global Bond Fund Management.

• Tuesday, December 25th 2018 - 22:49 UTC

  Mexican Congress passes AMLO's first budget

  

  The Mexican House of Deputies Monday gave its final green light to the spending law bill - that is one week before the legal deadline - with funds relocated from autonomous bodies to sensitive areas such as agriculture, environment and public universities, it was announced.

• Monday, December 24th 2018 - 08:54 UTC

  US banks confirm “ample liquidity”, following Wall Street markets' plunge

  

  United States Treasury Secretary Steven Mnuchin has made calls to the heads of the country's six largest banks, a move to reassure investors after huge falls in US stocks. Last week, US stocks suffered one of the worst weekly falls in a decade as an interest rate rise and US-China trade tensions rattled markets.

• Sunday, December 23rd 2018 - 04:08 UTC

  Funds have been allocated to Argentina's Forensic Anthropology Team

  

  Last Thursday December 20, the Argentine ministry of Justice and Human Rights confirmed the transfer and payment order of the first of two outlays planned for the fiscal year, to the Argentine Forensic Anthropology Team, EAFF, which had complained a cut in funds.

• Saturday, December 22nd 2018 - 05:37 UTC

  Bank of England leaves interest rates on hold, but cautions about intensified Brexit uncertainties

  

  The Bank of England has kept interest rates on hold at 0.75% as it cautioned “intensified” Brexit uncertainties were slamming the brakes on UK growth. Policymakers on the Bank’s nine-strong Monetary Policy Committee (MPC) voted unanimously to keep rates unchanged in its last decision of 2018.

• Saturday, December 22nd 2018 - 03:43 UTC

  Brazilian judge halts Embraer-Boeing alliance yet again

  

  A Brazilian judge Thursday blocked yet again the merger of the commercial division of Embraer with Boeing, despite a joint announcement to the contrary a few days ago.