Illegal diamond mining threatens mining operations in Angola's Lunda Norte. Organized groups illegally invade significant reserves in the Chitotolo, Lunhinga, Lulo, and Luminas mines. This activity threatens the sustainability of mining companies in Lunda Norte. José Ganga Júnior, Endiama's head, expressed this concern during a semi-annual diamond production review in Dundo. He indicated that persistent […]
Brazil broke its oil and gas production record in July, extracting 4.48 million barrels of oil and natural gas equivalent daily, said the regulatory agency ANP. The regulator announced this surpassed the June 2023 record of 4.32 million barrels per day. July's crude oil production averaged 3.51 million barrels daily, a 4.3% increase from June […]
The Bank of Mexico (Banxico) believes Mexico will grow 3% in 2023 and has adapted its estimates. It is also positive about 2024, President Andrés Manuel López Obrador’s final year. Banxico estimates the economy will increase by 2.5% to 3.5% in 2023. It has a central estimate of 3%, higher than the previous 2.3%. This […]
Brazil, Chile, and Peru lead in making rules for artificial intelligence (AI) among the biggest economies in LatAm. Latin America has trouble using AI technologies and is behind in making laws in some places. The Latin American AI Index (ILIA) checks the rules for AI in 12 Latin American countries. ILIA looks at three things: […]
Barclays says Brazilian central bank's Selic cut cost trust. Roberto Secemski from Barclays pointed out that this move goes against the bank's previous careful approach. He thinks starting the reduction process more slowly would have been better and helped lower inflation expectations. Secemski mentioned that making money decisions always involves some give and take. The […]
Chile’s unemployment rate has increased again, now reaching 8.8%. This is 0.9% higher than the same time last year. This is the ninth time in a row that the unemployment rate has increased. Some areas of work, like health, trade, and public administration, saw more people losing jobs than others. On the other hand, fewer […]
El Niño caused a drought, which led to major losses of over 10,000 quintals of coffee in El Salvador. According to local news, this means an estimated loss of US$8 million for the coffee sector. Sergio Ticas, the head of El Salvador’s Coffee Association (Acafesal), said that these are rough estimates and the actual loss […]
Brazil reports a sharp increase in deficit in July. The country saw a significant rise in its deficit in July, reporting a primary minus of R$35.9 billion (US$7 billion), compared to a surplus of R$18.9 billion during the same period last year. The report, released by the National Treasury, showed that between January and July […]
Brazil seeks to separate military and politics with a new amendment. Brazil's Defense and Justice Ministers have finished a proposal (PEC) that stops active military members from having political jobs. The proposal suggests moving active military members to reserve status when they register as candidates. The ministers believe this will help keep the Armed Forces […]
(Opinion) As a first, the Finnish Border Guard is testing digital IDs and travel documents at Helsinki Airport’s border control in collaboration with Finnair, Finnish police, Finavia, and others. This aligns with the European Commission’s digitalization agenda but raises concerns about data privacy, security, misuse of personal information, government control, individual freedoms, and exclusion of […]
Latam Airlines and Airbus want to pioneer aviation decarbonization in LatAm. Chile’s Latam Airlines Group and U.S. aircraft manufacturer Airbus have agreed to fund a study by MIT on decarbonizing aviation in Latin America. The study will provide analyses of various scenarios for deploying Sustainable Aviation Fuels (SAF) by 2050. It will also explore pathways […]
Brazil is fast becoming a significant player in the global market. Serra Verde, a Brazilian mining company, is nearly the Western world's first supplier of this material. These 17 elements are vital for electromobility and energy transition. In June, Serra Verde started the initial phase of the Pela Ema plant in the country's Goiás state. […]
Brazilian asylum seekers in the U.S. tripled from October 2022 to June, according to AG Immigration. Asylum requests increased from 206 to 695 during this period. The US government received 295,000 asylum petitions since the fiscal year started. Brazilian citizens accounted for 3,417 (1.1%), ranking Brazil 17th among nationalities seeking immigration benefits. There were 1,622 […]
Walter Hansen is the new head of the Netherlands Naval Forces in the Caribbean. He is also the director of the Dutch Caribbean Coast Guard and commander of Task Force 4.4. He succeeds the retiring Brigadier General Frank Boots. The ceremony was at the Parera naval base in Curaçao. Hansen, a "Commandeur" in the Royal […]
(Opinion) The political climate is charged with tension as Argentina prepares for its presidential elections, with the Left initiating efforts to undermine Javier Milei. Since a recent poll showed right-wing candidate Javier Milei leading with 38.5% of valid voter intentions in the Argentinian presidential race, the South American left-wing establishment has been spewing venom. […]
Brazil created 142,702 new formal jobs in July 2023, a 36.6% decrease from July 2022. July 2022 saw the creation of 225,016 positions. However, according to Caged data, this is the seventh month of job growth. The Ministry of Labor and Employment released the data on August 30, 2023. Between January and July, 1,166,125 jobs […]
Russia and Cuba plan to enhance bilateral cooperation, especially in the energy sector. The Russian Foreign Ministry announced this after a meeting between Russian Deputy Foreign Minister Sergey Ryabkov and Cuban Energy and Mines Minister Vicente de la O Levy. The Russian Foreign Ministry (MID) released a statement about the meeting. It mentioned that the […]
(Opinion) For over half a century, the Bongo family has held Gabon in an iron grip, treating it as if it were a family estate passed down from one generation to the next. The recent military coup, which saw President Ali Bongo Ondimba placed under house arrest and his son and senior officials arrested for […]
A military coup in Gabon ended the Bongo dynasty and put president Ali Bongo Ondimba under house arrest, ending another African autocracy. The military announced this on state television. This followed Bongo’s re-election announcement by electoral authorities. Gabon is a wealthy oil-producing country in Central Africa. The Bongo family has ruled it for over 55 […]
According to data from the Brazilian statistics office IBGE, Russian nickel exports to Brazil reached US$11.1 million in July, marking the highest level since 2005. The data shows that imports of Russian nickel increased 2.2 times in July compared to the previous month, amounting to US$11.1 million. In July, Russia became Brazil's largest supplier of […]
The Brazilian president considers enlarged BRICS stronger than G7. Luiz Inácio Lula da Silva discussed the summit and BRICS' strength during his program, broadcasted by EBC. He believes the BRICS expansion will change global economic discussions. By purchasing power parity, BRICS currently represents 32% of global GDP, whereas G7 only represents 29%. Lula da Silva […]
Mexico’s real estate sector benefits from global relocation trends, according to Fitch. Fitch Ratings’ recent analysis suggests a positive outlook for Mexico’s commercial real estate sector. This is due to global value chains relocating to Mexico, incentivized by its closeness to the US. The firm’s report revealed that several Fitch-rated issuers ramped their capital expenditure […]
Brazilian President Luiz Inácio Lula da Silva announced the creation of a new ministry focused on small and medium-sized enterprises (SMEs), cooperatives, and individual entrepreneurs. The new ministry aims to cater to those preferring informal contracts or entrepreneurship. This was revealed during a weekly broadcast. Lula da Silva insisted on state support for SMEs. However, […]
Uruguay’s economy is expected to grow 1.3% in 2023, affected by a major drought, said Minister of Economy and Finance Azucena Arbeleche. She presented this year’s economic growth estimate to the Senate Finance Committee. The estimate is made amidst a historical drought, a significant concern. She held a press conference with the Central Bank of […]
Panama is experiencing a steady revival of the tourism sector, said Denise Guillén, ATP General Administrator. At a presentation in Panama City, Guillén noted the sector’s resilience post-COVID-19 pandemic contraction. In the latest news from Panama, Promtur data shows that international marketing and Promtur actions generated an estimated US$902 million from January to June, exceeding […]