Business

Consumer prices in Brazil down for the third month on lower fuel costs

Brazil’s consumer prices were in deflationary territory for the third month in a row in September, data from government statistics agency IBGE showed on Tuesday, still benefiting from major tax cuts on fuels and electricity ahead of a presidential election runoff. The benchmark IPCA index (BRCPI=ECI) fell 0.29% last month, IBGE said, a smaller drop […]

Business

Buffet-backed BYD taps India as latest market amid global push

Warren Buffet-backed Chinese electric carmaker BYD (002594.SZ) launched its first passenger car in India on Tuesday, an electric sport-utility vehicle (SUV), marking its entry into the mainstream market amid a broader global expansion. BYD launched the Atto 3 electric SUV, fitted with its renowned Blade battery technology, with a plan to corner 40% of the […]

Business

Russian aluminium producer Rusal reshuffles sales team

Russia’s Rusal has reshuffled its sales team, the giant aluminium producer said on Tuesday, signalling the intensifying fight to keep its sales book solid despite the effect of Western sanctions imposed on Moscow. Rusal, the world’s largest aluminium producer outside China, has not been hit directly by the sanctions imposed on Moscow since it sent […]

Business

IMF raises Latam 2022 growth forecasts; sees inflation dip in 2023

The International Monetary Fund on Tuesday raised its 2022 economic growth forecasts for Latin America and the Caribbean and lowered its growth projection for 2023 on shifting commodity prices and external financing conditions. The IMF lifted its growth estimate for this year to 3.5% from 3.0% forecast in July, while its projection for global output […]

Business

German union calls on Amazon workers to strike during sale

German trade union Verdi on Tuesday called on workers at nine Amazon distribution centres across Germany to go on strike this week, during the company’s second major sales event this year, to try to pressure it into collective bargaining agreements. The union said the strikes would begin and end at different times at the various […]

Business

Japan logs record-low August current account surplus as import prices surge

Japan’s current account surplus shrank to its smallest amount on record for the month of August, Ministry of Finance data showed on Tuesday, with surging prices of energy imports outstripping price rises in exports and draining national wealth. The surplus stood at 58.9 billion yen ($404.45 million), smaller than economists’ median forecast of 121.8 billion […]