Economy

• Wednesday, May 3rd 2023 - 11:13 UTC

  Deforestation controversy: despite EU landmark legislation, Brazil will keep to its own legal system

  

  Brazil’s government said it could not interfere with a landmark EU law banning imports of commodities linked to deforestation but will keep farming according to its own laws. The law approved by the European Parliament on April 19 bans imports of coffee, beef, soy, palm oil, cocoa, rubber, wood, charcoal and derived products including leather, chocolate and furniture if they are linked to forest destruction.

• Wednesday, May 3rd 2023 - 10:58 UTC

  Shortage of rain water threatens Panama Canal crossings forcing ships to reduce their draft and cargoes

  

  Insufficient rainfall has once again forced the Panama Canal to reduce the draft of ships crossing through the inter-oceanic route – another episode of the water supply crisis that threatens the future of the maritime course that handles 6% of global maritime trade

• Wednesday, May 3rd 2023 - 10:56 UTC

  UK expected to reopen Brazilian poultry imports at the latest in June, minister Fávaro

  

  With no new shipments since 2017, Brazilian poultry exports to the UK are set to be re-launched this year, announced Minister of Agriculture Carlos Fávaro at an agribusiness seminar in São Paulo last week.

• Tuesday, May 2nd 2023 - 10:57 UTC

  Massa to broker imports from Brazil paid in Argentine pesos

  

  Argentina's Economy Minister Sergio Massa will travel to Brazil alongside President Alberto Fernández to find credit alternatives through which to spend fewer dollars in bilateral trade, it was reported.

• Tuesday, May 2nd 2023 - 10:20 UTC

  Lula sets up committee to work on legislating Uber-like work

  

  Brazilian President Luiz Inácio Lula da Silva's administration created a working group to draft labor rules for drivers and good deliverers using mobile applications. The initiative was published Monday in the Diário Oficial da União (Official Gazette).

• Sunday, April 30th 2023 - 09:46 UTC

  Argentina needs a way out of the dollar gamble, Mujica says

  

  Former Uruguayan President José “Pepe” Mujica said Argentines have long lost confidence in their currency; hence the jump of the “blue” (a euphemism for “black market”) dollar.

• Saturday, April 29th 2023 - 10:33 UTC

  Fitch highlights Peru's performance

  

  Peru's macroeconomic strength proved decisive for the international agency Fitch Ratings to grade the South American country with a BBB quotation thanks also to its moderate public debt, strong external liquidity, and its fiscal discipline, it was reported.

• Friday, April 28th 2023 - 11:15 UTC

  “Blue” dollar keeps backtracking in Argentina

  

  The “blue” (a euphemism for “black market”) dollar dropped to AR$ 467 Thursday after further announcements and measures from Argentine authorities, after reaching an intraday record of AR$ 497 on Tuesday. It is still an AR$ 72 peso (18.2%) increase for the month of April.

• Friday, April 28th 2023 - 10:59 UTC

  Uruguayan Senate gives nod to pension reform bill

  

  Uruguay's Senate Thursday approved at around 9 pm the pension reform bill which is now up to President Luis Lacalle Pou to be signed into law.

• Thursday, April 27th 2023 - 10:55 UTC

  Spanish PM promises Lula he will push for EU-Mercosur deal closure

  

  Brazilian President Luiz Inácio Lula da Silva Wednesday insisted in Madrid on his unorthodox view regarding the war in Ukraine but the approval of the Mercosur-European Union (EU) deal signed in 2019 that still needs to be ratified looked closer following Prime Minister Pedro Sánchez's comments.