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☆ Juventus draw with Sporting to book semi-final spot
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Europa League - Quarter Final - Second Leg - Sporting CP v Juventus - Estadio Jose Alvalade, Lisbon, Portugal - April 20, 2023 Juventus' Wojciech Szczesny and Angel Di Maria celebrate after the match REUTERS/Rodrigo AntunesLISBON, April 20 (Reuters) - Juventus drew 1-1 with Sporting in an entertaining Europa League clash on Thursday to win their quarter-final 2-1 on aggregate and set up a semi-final clash with Sevilla. Juventus took an early lead through midfielder Adrien Rabiot who netted from close range after nine minutes following a corner. A lively clash continued after the break as Sporting pressed with confidence for possession but defenders Ricardo Esgaio and Sebastian Coates squandered three late chances to level the tie. Juventus will meet Sevilla in the semi-finals on May 11 and 18 after the Spanish side knocked out Manchester United 5-2 on aggregate. Reporting by Anita Kobylinska in Gdansk, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Costa Rica president gets tougher on security as crime soars
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

SAN JOSE, April 19 (Reuters) - Costa Rica's president on Wednesday presented a set of security measures in response to surging crime rates in the Central American country, which is currently on track this year to beat 2022's record murder rate. Costa Rica ended 2022 with a record 12.6 homicides per 100,000 residents, according to the judicial research agency OIJ. "We are going to mend the course we lost a long time ago," said Chaves, a week after criticizing those who condemned the security crisis. The country's main business chamber on Friday called for a state of "national emergency," fearing a hit to foreign investment and tourism. Reporting by Alvaro Murillo; Writing by Sarah Morland; Editing by Isabel Woodford and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Salvadoran lawmakers pass tech tax cut, including for AI businesses
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

The tech tax cut was championed by President Nayib Bukele, who first touted the legislation late last month. Bukele's New Ideas Party dominates the country's Congress. The bill exempts eligible companies from income tax, capital gains and local government taxes, as well as tariff payments on imported goods that technology businesses need. The new tax incentives for the nascent tech sector are only the latest efforts by Bukele and his allies to re-brand the Central American country as an emerging hub for innovation. In 2021, El Salvador made waves as the first nation to adopt the cryptocurrency bitcoin as legal tender, alongside the U.S. dollar.

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding more than $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. Bondholders and government officials met in Washington this week, with legal and financial advisers for both sides present, two sources said. China, Sri Lanka's biggest bilateral creditor, did not join the announcement even though it holds the key to solving debt woes for some low- and middle-income countries.

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island-nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. China, Sri Lanka’s biggest bilateral creditor, did not join the announcement. Sri Lanka secured last month a $2.9 billion program from the International Monetary Fund to tackle its huge debt burden.

WASHINGTON, April 14 (Reuters) - Zambia last week gave its bondholders a "concrete proposal" for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday. "We continue to engage actively with our bondholders and proposals are being exchanged," the ministry told Reuters in a statement. The proposal "represents our commitment to finding a resolution that is acceptable to all parties and within the parameters set out by the IMF debt sustainability analysis." Zambia defaulted on its overseas debt in 2020 and is working on a restructuring with bilateral creditors and private bondholders, but talks have dragged amid a lack of consensus on how to provide debt relief. Internationally we need to pool our voices together for a stronger response ... We need a stronger response on a global stage."

[1/2] An Airbus A320neo aircraft is pictured during a news conference tin Colomiers near Toulouse, France, October 17, 2017. Airbus' defense portfolio includes the A400M and the C295, which are respectively larger and smaller than Embraer's KC-390. De La Vela said he sees potential collaborations emerging in areas such as unmanned aircraft and space technologies, including for new products, adding that he would like to hear from Embraer before elaborating. De La Vela said Airbus expects the Brazilian MRTTs to open the Latin American market for the aircraft, noting talks with four other undisclosed countries in the region were underway. Reporting by Gabriel Araujo and Rodrigo Viga Gaier; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Sweden, Colombia interested in Embraer's KC-390, says Brazilian minister
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

RIO DE JANEIRO, April 14 (Reuters) - Brazilian Defense Minister Jose Mucio said late Thursday that countries such as Sweden and Colombia had expressed interest in buying Embraer's (EMBR3.SA) KC-390 military cargo aircraft. But the concept of the KC-390 is very big with all the countries," he told Reuters. "Sweden itself has talked about the KC-390, others have also talked about it and it's a big success. Sweden was expected to give an answer and Colombia is also interested in making an acquisition," he added. Earlier this week, Reuters reported, citing sources, that Austria was looking to advance in talks with Embraer on purchasing four or five KC-390 aircraft.

☆ Spurs have to play 'eight finals' in top-four race, says Stellini
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

April 14 (Reuters) - Tottenham Hotspur must treat every Premier League game like a 'final' if they are to secure a top-four finish and qualify for the Champions League, interim manager Cristian Stellini said on Friday. Spurs, who were knocked out of the FA Cup and Champions League last month, have only a top-four league finish to challenge for this season. We have to play the final eight games like they are eight finals," Stellini told reporters ahead of Saturday's home game against 15th placed Bournemouth. The other players started to work but work alone, so they are not available," Stellini said. "We have to take care with him (Richarlison) to give him training and the right time to play, don't take risks."

Pemex, which had financial debt totaling nearly $108 billion at the close of last year, pays a profit sharing rate (DUC) - effectively a tax paid to the government - of 40%. Delaying Pemex's payment of the DUC should give the oil giant some $2 billion in cash flow, said Yorio. "We can do this quickly to provide liquidity to Pemex, not through a capitalization, but by allowing it not to immediately pay the royalty, the profit sharing rate," said Yorio. Separately, Yorio said Mexico would not need to issue debt to finance its $6 billion deal to buy 13 power plants from Spanish energy company Iberdrola (IBE.MC). Lopez Obrador has described the deal, which will boost state power utility Comision Federal de Electricidad's (CFE) market share to nearly 56% of Mexico's total power generation from about 40%, as a "new nationalization".

☆ IMF to Latin America: tighten your belts
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

"Fiscal policy can help monetary policy in reducing demand pressures," the IMF said in a blog post on its outlook for the region's economy. Employment is above pre-pandemic levels, output is at or above potential, and short-term inflation expectations exceed central banks’ targets, the fund said. However, with softer jobs the need for social spending will remain high, the IMF said. "Rebalancing policy will not be easy," the fund said, adding that there are "serious distributional and social equity issues to contend with. Spending better means spending with more efficiency and transparency, key points in a region often plagued by corruption.

☆ Analysis: No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.

REUTERS/Ken CedenoWASHINGTON, April 12 (Reuters) - Zambia could lose gains achieved so far from macroeconomic reforms if its ongoing debt restructuring is further delayed, Treasury Secretary Felix Nkulukusa said on Wednesday. The next IMF payout to Zambia from the loan is contingent upon its bilateral creditors reaching an agreement on the long-delayed debt restructuring. The country recently completed the first review of the programme, and the next one is expected in about three months. Ceyla Pazarbasioglu, director of the IMF's Strategy Policy and Review Department, was more optimistic about Zambia's debt restructuring during the panel. The IMF official said that creditors have asked to share and exchange information "sooner" during debt restructuring talks, and added that the Washington-based lender is willing to do so.

REUTERS/Elizabeth FrantzApril 13 (Reuters) - The International Monetary Fund is working closely with Suriname authorities to bring their financing program back, while looking for progress in government talks with China, a key creditor, an IMF official said on Thursday. The IMF and Suriname engaged in a financing program for nearly $700 million in late 2021, but it stalled after the first review was approved more than a year ago. "The authorities are here right now, we're having discussions with them," Chalk said, adding that he looks forward for a mission visit soon to "deepen those discussions." "Having some more progress on the debt restructuring talks with China would really help us with the program, and help the country," he said. Reporting by Rodrigo Campos and Jorgelina do Rosario; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

☆ High Philippine inflation dents Marcos' approval ratings
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Philippines President Ferdinand "Bongbong" Marcos Jr. delivers a speech on the 126th founding anniversary of the Philippines army at Fort Bonifacio, in Taguig, Philippines, March 22, 2023. REUTERS/Eloisa Lopez/File PhotoMANILA, April 12 (Reuters) - Philippine President Ferdinand Marcos Jr's approval ratings edged lower due to public dissatisfaction over his government's handling of inflation, but he remains popular, an opinion poll showed on Wednesday. Marcos' approval ratings were slightly lower than the 83% that his vice president, Sara Duterte, got in March. Duterte, daughter of former president Rodrigo Duterte, currently serves as education minister, while Marcos helms the agriculture department. In the same survey, 61% percent of respondents approved of Marcos' government in terms of "defending the integrity of Philippine territory against foreigners", up from 58% in November.

☆ Philippines will pursue drugs war appeal with ICC, says top gov't lawyer
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

MANILA, April 12 (Reuters) - The Philippines will pursue its appeal questioning the International Criminal Court's (ICC) jurisdiction and authority to investigate killings during former President Rodrigo Duterte's 'war on drugs', its top lawyer said on Wednesday. Guevarra said the president's remarks meant the Philippines will "disengage with the ICC after exhausting our legal remedies within the framework of the Rome Statute". The ICC probe was reopened in January 2023. But the tribunal's top prosecutor Karim Khan said the ICC has jurisdiction because the country was a party at the time the alleged crimes were committed. Khan asked the court on April 4 to reject Manila's appeal and uphold its earlier decision to allow the resumption of the probe.

☆ U.S.-Philippine alliance 'moving into a new era' with war drills: CSIS
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S.-Philippine alliance 'moving into a new era' with their largest-ever war drills: Think tankGregory Poling of the Center for Strategic and International Studies says if former Philippine Rodrigo Duterte "wasn't good enough for China, then no Philippine president will ever be good enough for China."

☆ Brazil may buy more Swedish Gripen fighter jets, says minister
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, April 11 (Reuters) - Brazil is analyzing the option of expanding an order for Swedish manufacturer Saab's (SAABb.ST) Gripen fighter jets, though the number of additional aircraft which could be bought has yet to be determined, Defense Minister Jose Mucio told Reuters Tuesday. In 2014, Brazil signed a deal to purchase 36 Gripen fighter jets for its Air Force with the goal of modernizing its fleet. The first aircraft have already been delivered to Brazil and the remainder are expected to be delivered by 2027. The negotiations would involve forgoing some equipment and ammunition in exchange for "credit" toward the purchase of the four additional jets. Demand is great enough that Brazil could place a second order for around 30 more jets, the source said.

☆ Chile approves bill cutting work week to 40 hours from 45
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

[1/7] Chile's Labor Minister Jeannette Jara celebrates next to others ministers and parliamentarians the approval of a bill reducing the number of weekly working hours from 45 to 40, in congress in Valparaiso, Chile, April 11, 2023. REUTERS/Rodrigo GarridoSANTIAGO, April 11 (Reuters) - Chile's Congress on Tuesday passed a hard-fought bill to gradually cut the work week to 45 hours from 40 hours, a legislative victory for President Gabriel Boric amid faltering popularity. But the work week law - which now awaits Boric's signature - constitutes a small victory for an administration that has been trying to shift the country away from its free-market constitution. The new law mandates one less hour a week of work per year until the work week reaches 40 hours, bringing Chile in line with most industrialized nations. Several companies in Chile have already announced that they will adopt the bill, including state-owned copper giant Codelco, which earlier this year said it would seek to implement the 40- -hour work week by 2026.

BUENOS AIRES, April 10 (Reuters) - Argentina has patched up its wobbly economy with a so-called "soy dollar" preferential exchange rate to boost grains exports and bring in much-needed foreign currency, which analysts said would give the government breathing room, at least temporarily. "The 'farm dollar' will not create extra foreign currency, but at least will accelerate it coming in and so provide temporary relief," said economist Gustavo Ber, adding that foreign currency reserves had hit "critical levels." Reuters Graphics Reuters GraphicsThe so-called "soy dollar" was used twice last year and did help create a boost in exports, at least in the short-term helping ease availability of foreign currency. "This new measure aims to buy two months, which in the current context is not insignificant," Geretto told Reuters. Reporting by Walter Bianchi and Anna-Catherine Brigida; Editing by Adam Jourdan and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Argentina - a serial defaulter which has long battled high inflation, currency weakness and indebtedness - struck a $57 billion deal with the IMF in 2018 to try and fix its economic woes. Those reviews of how Argentina is doing against its economic targets are linked to scheduled disbursements of funds. Failure to meet the targets could stall the program or force the IMF to adjust the targets further. The IMF net reserve targets are the amount Argentina needs to accumulate over time above a baseline of $2.277 billion at the end of 2021. "That will make it hard to meet the IMF's (downwardly revised) FX reserve target and increases the risk of a disorderly devaluation."

☆ Dollar mired near two-month low; Kiwi gains on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. Markets were pricing in a 43% chance of Fed not raising interest rates a day earlier. "And the Fed may have to perhaps do more and keep rates high for longer." The yield on 10-year Treasury notes was up 1.3 basis points to 3.350%, having slipped 9 basis points overnight.

☆ Dollar struggles on weak data; Kiwi surges on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. Elsewhere, data overnight showed U.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labour market conditions were finally easing. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. In the U.S. bond market, the two-year Treasury yield, which typically moves in step with interest rate expectations, was up 2.6 basis points at 3.860%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.8 basis points to 3.355%, having slipped 9 basis points overnight.

☆ Dollar struggles near 2-month low on weak data, focus on RBNZ
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was stuck near two-month lows on Wednesday as weak economic data bolstered views that the Federal Reserve is near the end of its monetary tightening cycle. The kiwi rose 0.08% to $0.632 ahead of a policy decision from Reserve Bank New Zealand later in the day. The central bank is expected to slow the pace of monetary tightening, raising rates by just 25 basis points. In the U.S. bond market, the two-year Treasury yield , which typically moves in step with interest rate expectations, was up 1.4 basis points at 3.848%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.1 basis points to 3.348%, having slipped 9 basis points overnight.

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