Brazil to Hike Taxes on Banks

Brazil to Hike Taxes on Banks

Brazil is planning to suspend tax on diesel fuel, announced by President Jair Bolsonaro as a move to placate trucker’s threats of a strike. However, Reuters sources said that the government plans to hike taxes on banks to offset lost revenue, raising the tax on banks’...

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Pemex Reports 38% Wider Loss at $23 Billion

Pemex Reports 38% Wider Loss at $23 Billion

Pemex reported an annual loss of $23bn, 38.2% wider compared to its 2019 loss, described by CEO Octavio Romero as the “worst crisis” in its history. Industrial transformation losses contributed to 45.6% of the overall loss and exploration, and production losses...

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More Overdue Debt Comes to Light at CFLD

More Overdue Debt Comes to Light at CFLD

China Fortune Land Development (CFLD) disclosed that it had debt overdue of CNY 11.054bn ($1.7bn) as at end-February. This was CNY 5.817bn ($900mn) higher since its previous disclosure in the beginning of February, as per IFR. The amount includes interest and...

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