Brazil port's boom-to-bust story shows snapshot of an almost superpower
Brasilia
SANTOS Port has always been known as Brazil's gateway to the world. Now, it's also a window into what went wrong in Latin America's biggest economy.
Exports from Santos have tumbled as demand from China sags. Companies betting on a boon as massive offshore oil finds were developed are now scaling back after Petroleo Brasileiro SA said it will cut investments by a third. And real-estate prices are falling as entire buildings stand vacant.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter