Finance
Brazil’s Finance Ministry has finalized proposal for new fiscal framework, says Haddad
/cloudfront-us-east-2.images.arcpublishing.com/reuters/ZRJLSHH4VJJLFMZ7D7ZNWZXYLE.jpg "Brazil’s Finance Ministry has finalized proposal for new fiscal framework, says Haddad")
BRASILIA, March 6 (Reuters) – Brazilian Finance Minister Fernando Haddad stated on Monday that his ministry has finalized its contribution to the design of the nation’s new fiscal framework, however highlighted that different ministries will nonetheless consider it earlier than the president.
“We now have finalized the design of the fiscal framework internally and now I’ll talk about it with the financial crew earlier than presenting it to President Luiz Inacio Lula da Silva, as a result of it can’t be a Finance Ministry proposal,” Haddad advised journalists on the ministry.
“It is going to be a proposal from the society, as a result of it’ll contain a complementary invoice to be accepted by Congress,” he added.
Haddad additionally acknowledged that Lula has commissioned the event of a system behind the so-called Desenrola program, aimed toward refinancing shopper debt with authorities ensures. This system shall be launched when there may be an estimate of when the system shall be prepared.
In line with Haddad, this system’s assure fund can have about 10 billion reais ($1.9 billion), an quantity that shall be enough to renegotiate 50 billion reais in debt from 37 million people.
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This system is not going to have an revenue restrict, however solely those that earn as much as two minimal wages can have their renegotiation assured by authorities funds, permitting them to obtain higher reductions, stated the minister.
He additionally acknowledged that he has been sending solutions to Lula for 2 director positions within the central financial institution. The president will dedicate March to analyzing the resumes, stated Haddad.
Each the phrases of Bruno Serra, director of Financial Coverage, and Paulo Souza, director of Supervision, expired in February. Nonetheless, they’ll stay in workplace till changed.
($1 = 5.1538 reais)
Reporting by Victor Borges
Enhancing by Alistair Bell
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It’s the last full trading day of 2024 and Wall Street has its eyes peeled for the slightest signs of a Santa Claus rally. Seana Smith and Madison Mills observe some of the biggest market stories while speaking with top analysts on today’s episode of The Morning Brief.
Former President Jimmy Carter passed away over the weekend at the age of 100. To talk more about the US leader’s legacy and role in significant peace talks, the program welcomes American University professor Allan Lichtman and Marc Ginsberg, the former White House Deputy Senior Advisor for Middle East Policy under former President Carter.
As US stocks (^DJI, ^IXIC, ^GSPC) continue to see declines at the start of Monday’s session, the Morning Brief team looks back on the best and worst performing sectors of 2024.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Other top trending stocks on the Yahoo Finance platform include Boeing (BA), American Airlines (AAL), Nissan (NSANY, 8291.T)
This post was written by Luke Carberry Mogan.
The major indexes (^DJI,^GSPC, ^IXIC) are trading lower on Monday. It follows a sharp sell-off on Friday when the Nasdaq shed 1.5%. One stock on the move is Boeing (BA). Its shares are falling after South Korean officials ordered all Boeing 737-800 planes to be inspected after a Jeju Air crash killed 179 of the 181 people on board.
Key guests include:
9:10 a.m. ET – Josh Wein, Hennessy Funds Portfolio Manager
9:45 a.m. ET – Justin Patterson, KeyBanc Managing Director
10:20 a.m. ET – Gregory Kuhl, Janus Henderson Investors, Portfolio Manager, Global Real Estate
11:00 a.m. ET – Roosevelt Bowman, Bernstein Private Wealth Management Senior Investment Strategist
(Bloomberg) — Singapore Post Ltd. named a group chief financial officer and said the search for a chief executive continues after it fired a number of senior executives over allegations of misconduct.
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Isaac Mah, currently the CFO of the company’s Australia business, Freight Management Holdings Pty, will return home to take up the group CFO post, the Temasek Holdings Pte-backed firm said in a filing on Sunday. It also appointed Gan Heng, who currently heads the South District International Business Unit, as acting CEO of IBU.
The appointments follow the dismissal of three senior executives on disciplinary grounds, following a whistleblower’s report on lapses at its international e-commerce logistics parcel business. Singapore Post’s investigations into the report allegedly found several employees in the IBU made manual entries of some delivery status codes with the intent of avoiding contractual penalties with one of the firm’s largest customers.
Shares of the firm, which slid the most intraday since March 2020 after the dismissals last week, were trading unchanged as of 9:30 a.m. in Singapore on Monday.
Singapore Post said the sale of its Australia business, announced earlier this month, remains on track.
The company also paid a settlement to the unidentified customer, besides renewing its contract with the customer in August.
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