During the 40th-anniversary parade of La Troncal, a canton in the Cañar province of southern Ecuador, a shooting occurred. As of now, there’s no official confirmation on whether there were any casualties. Neither the National Police nor the Prosecutor’s Office had made formal statements regarding the incident. This incident comes amidst a 60-day state of […]
São Paulo’s iconic overpass, Minhocão, stretches through the heart of South America's largest city. Known officially as Elevado Presidente João Goulart, this landmark is a refuge for many. Increasingly, under this 3.5 km structure, homeless families set up tents and were displaced due to soaring rents. Many others rely solely on blankets provided by the […]
Recent data from DANE revealed that Colombia’s Gross Domestic Product (GDP) has seen a modest growth of 0.3% in the second quarter. However, there’s a diminishing interest in acquiring new loans in the country. The alarming part is the swift rise in overdue loans or those not being repaid on time. An analysis by Bancolombia […]
José Manuel Salazar-Xirinachs, the Executive Secretary of the United Nations Economic Commission for Latin America and the Caribbean (Cepal), projects a potential slowdown in Latin America's poverty reduction by 2023. This deceleration is attributed majorly to a global economic slowdown. Latest data from Cepal suggests Latin America and the Caribbean could witness an average growth […]
Bolivia is on its way to completing its inaugural steel complex, with 75% of the civil works already finished. The authorities anticipate that by 2024, the facility will initiate steel production and open new employment avenues, according to Julio Alvarado, the president of Empresa Siderúrgica del Mutún (ESM). The upcoming industrial facility, entailing an investment […]
Following Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole monetary policy symposium, major cryptocurrencies Bitcoin (BTC) and Ether saw notable price shifts. Initially, their prices surged, but about 30 minutes later, they declined, aligning with Wall Street's broader trend of risk asset volatility, as concerns over potential interest rate hikes increased. Powell gave […]
The coalition formed by Brazil, India, China, Russia, and South Africa, established in 2009, promotes mutual assistance and economic collaboration. In 2022, other BRICS nations purchased Brazilian agribusiness goods worth US$56 billion. This amount equates to 35% of the sector's total export revenue for that year. Of this, China alone accounted for US$50 billion, marking […]
The Broad Consumer Price Index-15 (IPCA-15), regarded as an inflation preview, experienced a 0.28% increase in August. This was a 0.35 percentage point shift from July's rate of -0.07%. These figures were released by the Brazilian Institute of Geography and Statistics (IBGE). Since the beginning of the year, the . . . To read the […]
China’s central bank, the People’s Bank of China (PBOC), recently opted to maintain its five-year loan prime rate (LPR) at 4.2%, diverging from market expectations of a rate cut. The decision was also coupled with a modest reduction in the one-year rate to 3.45%. This move has led to speculation that Beijing is grappling with […]
Germany’s Minister for Economy and Climate Protection, Robert Habeck, has called for increased investments in Germany. This comes in response to recent economic figures released, highlighting a decline in business confidence and a stagnant Gross Domestic Product (GDP). Not long ago hailed as Europe’s economic powerhouse, Germany is struggling to maintain its growth trajectory. Habeck […]
In July, Brazil, Latin America's leading economy, reported a foreign direct investment (FDI) intake of US$4.244 billion, marking a hefty decline of 41% compared to the same month in 2022, as stated by the Central Bank. Following a significant decline in direct foreign investments in Brazil in June, reaching the lowest level since December 2021, […]
On Friday, Belarusian President Aleksandr Lukashenko confirmed that the Wagner Group, a Russian mercenary unit, will continue its operations in Belarus. This statement comes despite recent satellite images suggesting a reduction in their camp size and the recent plane incident involving their leader, Yevgeny Prigozhin. Lukashenko, as reported by the BELTA agency, emphasized, “Wagner remains […]
Guyana’s President, Irfaan Ali, expressed appreciation for the apology given by the descendants of John Gladstone, a significant slave owner in the British East Indies. However, he stressed the importance of monetary reparations. “Recognition and apology are foundational to restorative justice,” President Ali stated after the Gladstone family visited the nation. The president emphasized the […]
According to a recent report by credit rating agency Moody’s, digitalization will not soon replace commercial bank money. While digitalization is undoubtedly changing how we handle money, traditional central bank money housed in commercial banks will remain dominant, thanks to the trust they have earned over the years. The market capitalization of all crypto assets […]
Millions of people in the UK are now receiving the next round of payments to help them with rising household bills as a committee of MPs investigates the fairness of the scheme. The payments are part of a cost-of-living fund extension to help low-income households, pensioners, and disabled people. Depending on the recipient’s eligibility criteria, […]
Whether you encounter a sudden medical expense, car repair, or unexpected job loss, dealing with a financial crisis can be incredibly stressful. However, several options are available to help you secure the funds you need during tough times. 39% of adults (20.3 million) don’t feel confident managing their money, and an emergency can make this […]
(Opinion) The BRICS summit in Johannesburg explored expanding the alliance by potentially inviting six nations from January 2024: UAE, Saudi Arabia, Iran, Argentina, Egypt, and Ethiopia. While Argentina’s membership is uncertain due to its upcoming elections, the criteria for selection centered on “geopolitical significance.” Most invitees have strong ties to China, which is pushing for […]
Carlos Fávaro, the Minister of Agriculture and Livestock, revealed that China has requested Brazil to provide a more concise list of slaughterhouses eligible for meat exports. Originally, Brazil had proposed 62 slaughterhouses for accreditation, followed by another list of 15 additional plants. Responding to this, the Asian powerhouse preferred a shorter list to simplify the […]
Brazil is set to train Haitian police amid the Caribbean nation's security crisis six years after ending its peacekeeping mission. Unlike prior military-focused missions, Brazil plans to enhance the Haitian National Police's skills in collaboration with the Brazilian Cooperation Agency and the Federal Police. With Haiti experiencing a spike in violence in 2023, Brazil aims […]
India's recent halt on sugar exports has bolstered Brazil's sugar industry, already in a robust position. This anticipated move had already been a factor supporting sugar prices, influencing sugarcane industries in Brazil's Center-South region to focus on sugar production for the 2023/24 harvest. The primary impact will be felt in the mid to long term. […]
IDV's plant in Sete Lagoas, Brazil, celebrated its 10th year, a significant marker in military vehicle production, among them the 6×6 Guarani armored vehicle. Launched in 2013, this facility stands out as Europe's first counterpart for creating armored vehicles. To date, it's responsible for nearly 700 military vehicles, catering to armies worldwide, including Brazil. Behind the […]
Indonesia is still considering its potential membership in BRICS (Brazil, Russia, India, China, and South Africa), an emerging economies group. BRICS aims to counterbalance Western global dominance. “We need to wait for our delegation to return to Jakarta to evaluate the next steps regarding this matter,” stated Teuku Faizasyah, the spokesperson for Indonesia’s Foreign Ministry, […]
Starting today, potential breaches of the EU’s newly introduced digital regulation will result in penalties. This law initially targets 19 major online platforms, imposing fines of up to 6% of the company’s turnover. Thierry Breton, the European Commissioner for the Internal Market, announced in a discussion with France Info that the full scope of the […]
In the midst of growing tensions in West Africa, Nigerian President Bola Ahmed Tinubu, leading the Economic Community of West African States (ECOWAS), is advocating for dialogue rather than military intervention against Niger’s current junta. Recent reports suggest that some ECOWAS nations were considering military contributions. Responding to these developments, Tinubu stated, “I’ve received numerous […]
Due to water scarcity, the Panama Canal will maintain shipping restrictions for a year, causing congestion in the major trade route. The Canal, which facilitates 6% of global maritime trade and stretches 80 kilometers, connects the Pacific Ocean and the Caribbean Sea. Major users include the US, China, and Japan. The reduced rainfall, influenced by […]