Industries and markets

Cancelling Special Economic Zones risks losing billions: private sector

“The private sector has spoken out against the possible elimination of the country’s Special Economic Zones (SEZs), warning that there is a risk of losing billions of dollars of investment. The previous federal government created

Brazil’s jobless rate rose for the second straight month and stands at 12.4%

“Brazil’s jobless rate rose in February for the second straight month, government data showed on Friday, adding to pressure on new President Jair Bolsonaro to reignite a sluggish economic recovery. Unemployment rose to 12.4% in

Brazil central bank cautious as outside shocks and domestic political tension mount

“Brazil’s central bank will take its time analyzing the economic impact from an increasing number of shocks from abroad and rising political tension at home that appear to be slowing the government’s reform process, its

Argentina election year: Macri increases spending on energy subsidies

“Argentina will increase spending on energy subsidies by more than US$ 100 million this year to compensate gas companies hit by delayed domestic price increases, a source at the nation’s energy secretariat said. The boost

As Bolsonaro’s influence wanes, Congress more demanding and minister Guedes ready to resign

“Brazilian President Jair Bolsonaro and his economy minister tried to rescue their contentious pension reform bill on Wednesday, as deepening political chaos surrounding the government’s signature proposal slammed Brazilian markets. Bolsonaro again warned that failure

Brazilian pensions reform stumbles with first challenges

“Brazil’s pension reform process hit two speed bumps on Tuesday, as Economy Minister Paulo Guedes did not attend a first congressional hearing on the proposals and a bloc of eleven political parties demanded the removal

Argentine financial markets jittery over October elections uncertainty

“Investors in Argentina are starting to get the jitters. The gap in yield between local and U.S.-issued bonds has roughly doubled in the last month in the face of stubborn inflation and mounting peso outflows,

Anger after Bolsonaro calls for Brazil army to mark 1964 coup

“Brazil’s federal prosecutor’s office on Tuesday said it was opposed to far-right President Jair Bolsonaro’s plan to allow the armed forces to officially commemorate the 55th anniversary of Brazil’s military coup this weekend.Bolsonaro, a former

Pharmaceutical Roche latest to add to Brazil’s economic woes

“Swiss pharmaceutical company Roche said Tuesday it will stop producing medicines at its Rio de Janeiro unit in Brazil, a new blow to a country whose economy appears to be in its most sluggish decade

Government to make more spending cuts as it seeks to avoid deficit

“Believe the president that we’re going to go from republican austerity to Franciscan poverty, don’t doubt that, more cuts have been asked for in the past two weeks,” chief of staff Romo said.”