Industries and markets

Bolsonaro begins tour of Gulf states to mend relations with Arab nations

“Brazilian President Jair Bolsonaro arrived in Abu Dhabi on Saturday for a tour of three Gulf states, hoping to turn the page on a diplomatic storm last year with Arab nations over a proposal to

Argentina: New Reporting Requirements for Movement of virtual and non-virtual Assets

In Argentina, AFIP`s newest General Resolution 4614/2019 has been introduced on 24 October 2019. It outlines new information and reporting requirements for moving virtual and non-virtual assets, specifically:   1. Payment processing services through electronic

Brazil: New Regulation for PIS / COFINS Taxes

On October 15, the Normative Instruction IN # 1,911 / 19 was published, which outlines the changes in the calculation of the social contributions PIS / COFINS and PIS and COFINS import.   What will

Fitch says Argentina’s weak credit fundamentals limit debt exchange scope: suggests a “haircut”

“Argentina has been struggling with a major debt crisis after a market crash in August hammered its peso currency and sovereign bonds, forcing it to delay payments on about US$ 100 billion of debt.”

Argentine ready for the return of Kirchnerism defeated by Macri in 2015

“Argentines head to the polls on Sunday with the Peronist opposition strong favourites to take back the presidency from business-friendly reformer Mauricio Macri, who has been stung by a tumbling economy and financial crises.”

Petrobras Recorded Net Profit of R$9.1 Billion in Third Quarter

“In the first nine months of 2019, net income was R$32 billion, compared to R$23.7 billion in the same period last year.”

Brazilian Central Bank to Sell US$11.3 Billion from Reserves in November

“The money will be used to renew traditional currency swap contracts (selling dollars on the futures market) that expire in January.”

Brazil: Bolsonaro allows Tax Debt Negotiations

On October 16th, Brazilian President Jair Bolsonaro sanctioned the Provosional Measure “Legal Taxpayer MP” which aims to encourage the regularization and resolution of tax disputes between the Federal Tax Administration and taxpayers with debts to

Mexico: Tax Proposal for Social Security Changes

After an initiative to revise certain social security benefits in Mexico has been rejected by the Senate in 2018, the lower House has recently received a new legislative proposal on the matter.   Tax Reform

Brazilian plane maker to furlough 15.000 workers ahead of Boeing’s takeover

“Boeing has agreed to buy 80% of Embraer’s commercial plane division for US$4.75 billion, a deal approved by shareholders and the Brazilian government but which is undergoing an intensive regulatory investigation in Europe. Embraer has