China, as the globe’s premier steel producer, is pivoting to diversify its iron ore sources, eyeing reduced dependence on major suppliers like Australia. This shift has gained traction with intense negotiations around Guinea’s Simandou range, a high-grade iron ore treasure trove. Rio Tinto, Chinese state-owned enterprises, and the Guinean government are collaborating on an ambitious […]
The US dollar experienced a notable increase in its recent session. This surge wasn't primarily influenced by the pressures from Treasuries, as seen in prior sessions. Contributing factors to the dollar's rise included worrisome economic signals from China and growing doubt about the local economic plan's approval. Additionally, Argentina's shifting political landscape, marked by the […]
The Labor Minister of Peru, Fernando Varela, confirmed on Tuesday that a significant 76.8% of the nation’s working population is engaged in informal employment, which is not regulated by the official economy. In light of this, the government will unveil a comprehensive three-phase strategy to address the issue. Varela commented, “Our current official figures indicate […]
Peru reported a decline in its unemployment rate to 5.9% for the first quarter of 2023, a slight drop from the 6.2% recorded in the same period the previous year, according to the National Institute of Statistics and Informatics (INEI). On the same day, the government acknowledged an informal employment rate of 76.8% among the […]
Argentina’s Consumer Price Index (CPI) stood at 113.4% year-on-year in July, as reported by the National Institute of Statistics and Censuses (Indec) on Tuesday. In July, prices rose by 6.3% compared to the previous month, indicating a resurgence after slight decelerations in May (7.8%) and June (6%). Goods saw a 6% increase in July compared […]
On Tuesday, the Argentine government declared a 15-day suspension on meat exports to reexamine the pricing structure with local meatpacking firms following the nation’s currency fluctuation exceeding 20 percentage points. The announcement by the Commerce Secretary came a day after the primary election results highlighted the win of right-wing candidate Javier Milei. The suspension will […]
Northeastern Brazil's soybean yield has reached an all-time high in 2023, averaging an output of 3.6 thousand tons per hectare, as stated by the National Supply Company (Conab). The ongoing crop season sees unprecedented yield levels across all states in the region with the highest soybean harvests. This soybean crop will be the most significant […]
The São Paulo government has announced a state of emergency due to avian flu concerns. This decision was documented in the state's Official Gazette on Thursday, 15th. So far, São Paulo authorities have identified ten instances of the avian flu, primarily in migratory wild birds. This move aligns with the Ministry of Agriculture's advice for […]
As the 21st century unfolds, Africa stands on the precipice of an economic rebirth, with Sovereign Wealth Funds (SWFs) as the driving force. These state-backed investment vehicles, once the stronghold of global giants like the Abu Dhabi Investment Authority, are carving out an essential niche in Africa’s quest for sustainable development. Botswana led the charge […]
Foreign Direct Investment (FDI) in Mozambique saw a drop of 66.8% in the first quarter, compared to 2022, amounting to US$460.1 million. According to the central bank's recent report, the primary investor was South Africa. This significant decline in FDI was influenced by a 67.8% decrease in significant projects and a 54.3% reduction in traditional […]
Many mining firms are eager to strike lithium deals within Chile’s revamped framework. Chile, home to the most significant known reserves of this essential metal for electric vehicle batteries, is witnessing an uptick in interest. In response to increasing demand, Chilean officials are pinpointing new extraction areas and devising a comprehensive bidding procedure for contracts […]
According to DANE, Colombia’s GDP experienced a 0.3% growth in the second quarter compared to the same time frame the previous year, even though five economic sectors recorded a contraction. Public administration and defense, along with mandatory social security plans, education, human health care activities, and social services grew by 4.5%, contributing 0.7 percentage points […]
DLocal, a unicorn and leading payment service provider catering to businesses in emerging markets, is considering strategic options, including a potential sale, as revealed by sources speaking to Bloomberg News. Headquartered in Montevideo, Uruguay, DLocal is collaborating with a financial advisor and has engaged in discussions with interested buyers, the insiders mentioned. They opted to […]
Ahead of the release of July’s inflation figures, Argentina’s government anticipates a more challenging outlook for August, with predictions of a double-digit monthly increase, as the “TN” television channel reported. This less-than-optimistic outlook stems from the significant devaluation of the Argentine peso following the country’s primary general elections held in October. Argentina’s Central Bank declared […]
In a recent economic shift not seen since 2008, global wealth witnessed a 2.4% decrease, reducing the number of millionaires in the United States by over 1.6 million. Reports from UBS and Credit Suisse highlighted that depreciating major global currencies played a key role in this wealth decline. Their global wealth study identified the U.S. […]
There’s increasing concern in the U.S. banking sector regarding potential downgrades to their credit ratings, with even prominent institutions like J.P. Morgan Chase potentially affected, according to Fitch Ratings analyst Chris Wolfe during a CNBC appearance. In June, Fitch adjusted the U.S. banking sector’s operational environment score from “AA” to “AA-” due to a combination […]
Once a pivotal driver of growth, China’s property industry is currently grappling with significant headwinds, highlighted by a noticeable dip in investments and sales. Recent statistics from the National Bureau of Statistics (NBS) reveal an 8.5% contraction in real estate investment during the initial seven months of the year when juxtaposed with the preceding year’s […]
In Zhejiang province, central China, two families are under scrutiny after their children indicated they were Christians on a school form. As reported by the international NGO Open Doors, which aids persecuted Christians globally, the students were mandated to fill out the form. Upon the school’s review, the parents were summoned to verify the details […]
The waiting period for Brazilians seeking to schedule an interview for their first US visa (either tourism or business) has been reduced, currently standing at 220 days, based on recent data from the US Travel Association. The association's report further indicates that visa waiting times in major markets for the US, such as Mexico and […]
Brazil's National Electricity System Operator (NESO) confirmed, through a statement released on Tuesday morning (15), that there was a power disruption affecting several regions around 8:30 am. This was attributed to a connection issue within the national grid, specifically between the North and Southeast areas. The statement indicated a cut-off of 16,000 megawatts (MW) primarily […]
Do you enjoy fishing? Is it your preferred pastime activity? If yes, then Latin America has plenty of fishing destinations for you to explore. It has isolated regions of cold and tropical water and many lakes and rivers covering the area. These isolated and undisturbed fishing areas offer a great challenge to fishermen with plenty […]
(Opinion) Recent headlines from Brazil have sparked global intrigue: reportedly, a whopping 5% of the nation’s GDP, with an additional investment of US$11 billion, is now dedicated to defense. On August 11th, the vibrant city of Rio de Janeiro bore witness to President Luiz Inácio da Silva’s ambitious unveiling of the Growth Acceleration Program (PAC). […]
On August 11th, in Rio de Janeiro, Brazil's President Luiz Inácio da Silva unveiled the Growth Acceleration Program (PAC). With Defence Minister José Mucio Monteiro present, the government outlined an investment of 53 billion reais (approximately US$11 billion) for defense, one of the program's nine pillars. The plan will see a total infusion of 1.7 […]
Celebrating its 25th anniversary on August 14, 2023, Brazil's open energy market now constitutes 40% of the country's energy sales. Established in August 1998, this sector allowed high-tension consumers to source their electricity from any supplier. Today, over 12,000 firms, encompassing 34,000 consumer units, purchase above 60% of their power directly from energy traders. Data […]
On August 15, 2023, Santiago Peña, hailing from the right-wing Colorado Party, was inaugurated as Paraguay's President after winning 43% of the votes in April. Born in Assunção in 1979, the 44-year-old economist previously served in international institutions like the IMF and was a finance minister during the Horacio Cartes regime (2013-2018). With Colorado Party's […]