Foreign visitors to Argentina are up 79.6%, with day-trippers leading the trend In June, Argentina witnessed a 79.6% increase in foreign visits year-on-year, tallying up to 947,800 individuals. Official data released showed that less than half of these visitors, about 419,400, were tourists, marking a 76.1% annual rise. Interestingly, 528,400 of the visitors were day-trippers, […]
The Central Bank of Cuba has recently announced a shift towards a more digital economy, aiming to decrease the amount of physical cash in circulation. As per the new regulation, both citizens and businesses will have six months to conduct most of their transactions electronically. However, many Cubans are wary of this change, concerned about […]
Guinea-Bissau, a small nation in West Africa, has undergone various political transitions since its independence from Portugal in 1973. Known for its rich culture and biodiversity, the country has faced political instability challenges and has witnessed multiple coups. The African Party for the Independence of Guinea and Cape Verde (PAIGC) has played a significant role […]
Cabinda is a small enclave located to the north of Angola and separated from it by the Democratic Republic of Congo. Historically, the region's distinct identity was recognized in the Treaty of Simulambuco in 1885, in which it was deemed a Portuguese protectorate. After Angola's independence from Portugal in 1975, Cabinda became a disputed territory, […]
The United Nations (UN) has expressed deep concern over allegations of torture and mistreatment by São Tomé's military related to the alleged coup attempt on November 25, 2022, as revealed in a recent report. In a 15-page document addressed to the São Tomé and Príncipe government, seven UN experts questioned the alleged "torture and other […]
Central Bank Digital Currencies (CBDCs) have sparked discussions due to concerns over trade privacy and increased control by banks and governments over individual financial transactions. As these currencies introduce enhanced technological oversight, there is a debate about their implications for individual freedom. Recently, Australia has been exploring the potential of CBDCs, partnering with global financial […]
China’s international trade dwindled in July due to decreased global demand for its products and uncertainties in its economic recovery, impacting domestic consumption. Compared to the previous year, July’s exports plunged by 14.5%, marking the steepest fall since February 2020, and imports decreased by 12.4%, according to the country’s customs administration. Both statistics were below […]
Petrobras has decided to restart construction work on the second production unit of the Abreu e Lima Refinery, after nearly a decade-long hiatus. With its potentially multi-billion-dollar budget, the project faces uncertainties ranging from costs to the completion timeline. CEO of Petrobras, Jean-Paul Prates, recently confirmed the commencement of bidding for the second train of […]
The legal team of former Brazilian President Jair Bolsonaro has appealed the decision by the Superior Electoral Tribunal (TSE) to potentially disqualify him for eight years over allegations of abuse of power and misuse of public resources. Bolsonaro's defense argued that the draft of a presidential decree, allegedly intended to influence the 2022 elections, which […]
In the current harvest season, Brazil is poised to reclaim its title as the global leader in soybean meal exports, edging out Argentina, who held the top spot for 25 years. A report from the Rosario Trade Exchange, a prominent Argentine trade entity, reveals that Brazil's soybean meal exports will exceed Argentina's volumes this year. […]
In 2023, the Brazilian state of Paraná is projected to produce more soybeans than Argentina. Paraná, holding the title for the second-largest grain crop in Brazil, is estimated to yield around 2 million tons more soybeans than Argentina this year. As per the National Supply Company, Paraná's harvest is anticipated to be slightly over 22 […]
Established in 1983, São Paulo-based BTG Pactual has grown to be a dominant force in the investment banking landscape of Latin America. With a strong presence in Brazil and innovative financial solutions, the bank has continuously evolved to cater to institutional and individual clients. It has been recognized for its asset management, wealth management, and […]
According to a recent survey by the Brazilian Institute of Geography and Statistics (IBGE), only five out of fifteen areas surveyed have industrial operations surpassing pre-pandemic levels. The national average in June was 1.4% below the February 2020 figures, considered the pre-pandemic benchmark. Mato Grosso led the way with its industrial production at 23.8% above […]
At 11:20 am on this Tuesday, the Ibovespa, the main index of B3 (São Paulo Stock Exchange), recorded a decrease of 1.04%, standing at 118,153.03 points. It hit its lowest at a 1.58% drop (117,492 points). Meanwhile, the commercial dollar increased by 0.75%, valued at R$ 4.93. This change comes on the morning when the […]
The state-owned Electric Union of Cuba (UNE) anticipates power outages affecting approximately 12% of the nation on Tuesday evening, following several weeks without reported shortages. The last significant shortage occurred at the end of June, when outages impacted 17% of the country, as per UNE estimates. The company predicts a peak generation capacity of 2,719 […]
The Colombian President Gustavo Petro’s campaign has been embroiled in controversy over alleged illicit financing, with Barranquilla, the capital of Atlántico, emerging as a focal point. Over the years, an emerging political elite in Barranquilla sought to establish a national presence, displacing traditional families such as the Gerlein and Name. Newer names, including Char, Benedetti, […]
Nigerian fintech firm Enricher is gearing up for global expansion, targeting the UK and North America. The goal is to tap into the increasing demand for Islamic-compliant financial services. Research from 2021 highlighted significant growth potential for Islamic finance in African nations with substantial Muslim demographics. Enricher’s founder and CEO, Shakirat Animashaun, emphasizes the global […]
Last year, the movie “The Kashmir Files,” which portrayed the Hindu exodus from Kashmir in the 1990s, became a significant financial success. While its portrayal was contentious among film critics, Indian Prime Minister Narendra Modi lauded the movie for shedding light on the Hindu displacement narrative. This film is one among several that delve into […]
In Taipei, former Japanese Prime Minister Taro Aso emphasized the necessity for Japan and its collaborators to demonstrate a commitment to deterrence against potential aggression from China concerning the Taiwan Strait situation. Addressing the Ketagalan Forum, a prominent Indo-Pacific security dialogue, Aso highlighted that effective deterrence hinges on three pillars: the capability to deter, the […]
South Africa, the upcoming host for the BRICS Summit, announced on Monday that 67 nations are invited to attend the forthcoming meeting. Notably, France, despite expressing interest in June, wasn’t invited. South African International Relations and Cooperation Minister Naledi Pandor stated during an online press conference discussing summit preparations, “President Cyril Ramaphosa, with unanimous support […]
Montevideo, located along the Rio de la Plata, boasts approximately 15 kilometers of the 70-kilometer coastline of Uruguay's capital. However, these beaches face what's known as coastal pressure. On one side, urban, recreational, and industrial growth apply pressure, while on the other, rising sea levels, storms, and waves take their toll. According to research by […]
Paraguay has announced its intention to move its embassy back to Jerusalem. This move indicates a growing rapport with Israel in Latin America. The statement came a week ahead of Santiago Peña’s inauguration as the elected president of Paraguay. Peña has previously voiced his support for this relocation. The announcement also precedes his scheduled meeting […]
The Bahia government recently unveiled the Eva Ribeiro Regional Airport in Bom Jesus da Lapa. Bom Jesus da Lapa stands out in Brazil for its spiritual depth and scenic beauty. Funded by the State Infrastructure Secretariat (Seinfra), the airport development amounted to R$26.1 (US$5.3) million. Additionally, Seinfra funded roadworks providing access to the new airport […]
In 2019, the U.S. saw 2.1 million Brazilian visitors. The numbers dipped to 1.2 million in 2022 but began to rise again, with 710,000 visitors in the first half of 2023 alone. EJ Richardson, a U.S. commercial consul in São Paulo, remarked that these figures suggest a positive trend toward reaching the 2 million mark […]
Interest rates and geopolitical uncertainty impacted merger and acquisition (M&A) activities in Latin America in 2022, seeing a decline of 35.9% from 2021. Based on Bloomberg's public data, the deals amounted to US$106.9 billion in the region in 2022, compared to US$168.3 billion in 2021. The outlook remains cautious for 2023, as economic slowdowns and […]