Emerging Markets

Brazil's Stock Index Fell as Much as 17 Per Cent After Lula Won by 4.4 Million Votes. Measured in Dollars, It Closed About a Fifth Lower.

Brazil's Ibovespa fell as much as 17 per cent on Monday, 26 October, and trading was halted for 30 minutes, after President Luiz Inácio Lula da Silva won Sunday's runoff with 51.79 per cent of valid votes. It closed down 13.88 per cent, and the dollar closed up 8.25 per cent against the real.

By Daniel Okafor 1 hour ago

Overhead electricity wires and a utility pole strung between brick buildings on a narrow street in Lahore, under a blue sky with white clouds.

World

Pakistan Has Nine Bidders for a State Power Distributor. The Losses Will Stay on Everyone's Bill.

Pakistan's privatisation board has prequalified nine bidders, three of them Turkish, for a controlling stake in the Gujranwala Electric Power Company, one of nine state electricity distributors the government has told the IMF it will sell by December 2027. Under the plan as reported, the national uniform tariff stays, so customers of efficient distributors will keep paying for the losses of weak ones.

By Cory Chamberlain October 5, 2026

Tagged stories

Brazil's Stock Index Fell as Much as 17 Per Cent After Lula Won by 4.4 Million Votes. Measured in Dollars, It Closed About a Fifth Lower.

Pakistan Has Nine Bidders for a State Power Distributor. The Losses Will Stay on Everyone's Bill.