El Salvador last week became the first country in the world to adopt bitcoin as legal tender, with the aim of reducing costs in sending remittances, attracting foreign investment and boosting domestic consumption, Market Research Telecast reported. It does so after its parliament approved the cryptocurrency legalization, a law that has not been well received by international organizations and agencies.
The U.S. Bankruptcy Court for the Southern District of New York, which is presiding over Aeroméxico's chapter 11 voluntary financial restructuring process, granted the company's request for extensions of the plan exclusivity periods, according to a company press release. The exclusive period for filing a chapter 11 plan now expires on Oct. 8, 2021, subject to further extension as ordered by the court. On Sept. 10, 2021, the company delivered to its DIP Lenders the Final Valuation Materials and the Refinancing Qualification Certificate in accordance with the DIP Credit Agreement.
U.S. stock markets opened higher on Tuesday, rebounding from their worst day in months on Monday as nerves about the Chinese real estate debt crisis eased, Investing.com reported. Better-than-expected data from the housing market also supported the sentiment. Housing starts and building permits for August both came in above expectations, albeit not by enough to cause any acceleration in the Federal Reserve's timeline for running down its asset purchases or raising interest rates. The Fed's latest two-day policy meeting started Tuesday. By 9:45 a.m.
The World Bank is cancelling a prominent report on business conditions around the world after investigators found staff members were pressured by the bank’s leaders to alter data about China and some other governments, Aljazeera.com reported. The bank said on Thursday that it would discontinue “Doing Business” following an investigation prompted by internal reports of “data irregularities” in its 2018 and 2020 editions and possible “ethical matters” involving bank staff.
Mexico's economy expanded by 6.8% in August compared to the same month last year, as the country continued a recovery from a slump induced by the coronavirus pandemic, a preliminary estimate from national statistics agency INEGI showed on Friday, Reuters reported. A breakdown of the agency's initial figures showed that secondary activities, which include manufacturing, increased by 4.1% from August 2020, while tertiary activities, which encompass the service sector, were up by 8.3%. In July, Latin America's no. 2 economy grew by some 9.9% year-on-year, according to a preliminary estimate.
