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Mine Collapse Fear Hits Braskem Shares and Credit Rating
Braskem, a Brazilian petrochemical giant, is facing a critical situation in Maceió, Alagoas state, in the Northwest of the country. Their rock salt mine near Lagoa Mundaú is at risk of collapsing, prompting a 180-day emergency declaration. The mine has shifted vertically by 1.42 meters and is sinking at 2.6 centimeters per hour, increasing fears […]
Azul Airlines Restructures R$3 Billion Debt with Creditors
Azul Airlines, Brazil’s leading carrier, has achieved a significant milestone in its financial recovery efforts. The company recently announced agreements with 92% of its aircraft lessors and equipment manufacturers. These deals cover approximately R$3 billion ($545 million) in obligations, marking a decisive moment for Azul’s future. The restructuring plan involves converting a portion of the […]
Ecuador’s poverty rate rises to 27% of population in first half of 2023
Ecuador experienced a rise in poverty and extreme poverty in the first half of 2023, with rates reaching 27.0% and 10.8% respectively by June, according to the National Institute of Statistics and Census of Ecuador (INEC). This suggests that 27 out of every 100 individuals in Ecuador live in conditions of income poverty, per the […]