BRASILIA (Reuters) – Brazil’s state development bank BNDES will provide 4 billion reais ($799.47 million) in dollar-denominated financing for local industry, Vice President Geraldo Alckmin said on Thursday. He also announced the government would lower the PIS and COFINS federal taxes levied on vehicles of up to 120,000 reais in a bid to modernize the…
SAO PAULO (Reuters) – Inflation in Brazil continued to slow down in early May, data from statistics agency IBGE showed on Thursday, in a move that surprised markets and is likely to put more pressure on the central bank to lower interest rates. The local IPCA-15 consumer price index reached 4.07% in the 12 months…
GENEVA (Reuters) – Argentina has initiated a dispute against the United States at the World Trade Organization regarding tubular goods used in oil production, the trade watchdog said on Thursday. The so-called “request for consultations” which is the first formal step in the WTO’s dispute settlement process concerns allegations that the United States has used…
By Dave Graham MEXICO CITY (Reuters) -Mexican President Andres Manuel Lopez Obrador’s increasing attacks on adversaries and interventions in the economy are part of a calculated drive to cement his legacy and consolidate support for his successor in an election next year. The veteran leftist on Friday spooked investors when he ordered the temporary occupation…
BRASILIA (Reuters) – Brazil’s lower house on Wednesday approved a new fiscal framework bill, a major victory for President Luiz Inacio Lula da Silva’s administration as it tries to balance public accounts while taming explosive debt growth. Lawmakers in the chamber voted 372-108 to pass the main text of the bill on late Tuesday that…
By Lawrence White LONDON (Reuters) -HSBC is reviewing a possible exit from as many as a dozen countries, or one in five of the markets it operates in, to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery told Reuters in his first interview since taking the role. The reviews follow pressure from…
BOGOTA (Reuters) – Colombia’s Gilinski Group signed a Memorandum of Understanding (MoU) to exit its stake in the country’s largest investment firm, Grupo Sura and take a controlling stake in food producer Nutresa , the companies said on Wednesday. The conglomerate, owned by Jaime Gilinski, one of Colombia’s richest men, had over the past year…
(Reuters) – Florida Governor Ron DeSantis said on Wednesday he would seek the 2024 Republican nomination for president, vowing to build a wall on the border with Mexico and not restrict usage of Bitcoin. Here is a selection of his quotes: IMMIGRATION “We will move on day one by declaring a national emergency. We will…
QUITO (Reuters) – Ecuador’s President Guillermo Lasso on Wednesday described coming early elections as an opportunity to unite the country as it grapples with gang violence and political instability after Lasso dissolved the legislature earlier in May. The embattled leader is governing by decree after invoking a constitutional mechanism on May 17 that dissolved the…
By Krystal Hu and Arriana McLymore (Reuters) – Online fashion giant Shein is exploring plans to build a factory in Mexico as one of its manufacturing hubs outside China, sources familiar with the matter told Reuters, as the company faces increased scrutiny from U.S. lawmakers and looks to expand its Latin America footprint. The factory,…
