Brazil's Petrobras introduced its carbon-neutral gasoline, Petrobras Podium, designed to counterbalance its greenhouse gas emissions. How? Through forest conservation projects within Brazil. Initially created in 2002, Petrobras Podium has evolved. This high-grade fuel has the lowest sulfur content on the market. It also boasts the highest factory octane level. Consequently, it boosts vehicle performance and […]
Uruguay’s Agriculture Ministry MGAP, led by Fernando Mattos, is considering extending the farming emergency. He mentioned an upcoming meeting to discuss the plan. “The drought is over, but the damage remains,” Mattos said on local TV. Soil moisture has improved. However, the lengthy dry period still affects the market. Continued support for farming is vital, […]
Venezuela and Cuba have inked a new agreement for their state-run oil firms, Pdvsa and Cupet, to collaborate. They aim to boost joint efforts in energy research and development. Official reports say the deal covers many areas. These include oil exploration, production, and refining. Petrochemical projects are also part of the plan. Carlos Canelón leads […]
In the last decade, the UAE has ascended as the main financial catalyst for the Gulf Cooperation Council’s (GCC) Africa ventures. A recent report clarifies that the UAE was behind 88% of the GCC’s $1.2 billion investments in Africa from 2016 to 2021. Moreover, the country has diversified its investments beyond the oil sector. The […]
Uzbekistan has joined hands with the International Finance Corporation (IFC) to attract more foreign direct investment (FDI). The collaboration aims to revamp existing investment laws. The World Investment Report 2023 showed FDI increased from $1.73 billion in 2017 to $2.53 billion in 2022. Still, challenges such as implementation and transparency exist. The IFC will help […]
The World Bank and Bank of Brazil have finalized a $400 million credit line. This move aims at eco-friendly agriculture and restoring Amazonian regions. This new deal follows last year's $500 million project. That initiative sought to expand sustainable financing and make carbon credit markets more accessible. Francisco Lassalvia, Vice President of Bank of Brazil's […]
Argentina’s GDP shrank 4.9% in the second quarter of 2023, says the National Institute of Census and Statistics (INDEC). The report also shows a 2.8% drop compared to the first quarter. From April to June, agriculture plunged 40.2% and fishing fell 30.5%. Meanwhile, hotels and restaurants grew 6.4%, and mining increased 6.3%. On September 13, […]
The Board of the African Development Fund approved a $19.98 million grant for Mozambique. This money is the first part of the fund's two-phase financial aid for 2023 and 2024. Each part is roughly $20 million. The plan has two main aims. First, it seeks to improve conditions for private businesses and sustainable growth. Second, […]
Pollution in the Tietê River has nearly doubled in two years, with the affected area now stretching 160 kilometers, according to NGO SOS Mata Atlântica. Compared to 2021, that's an 88% increase. In contrast, only 85 kilometers were polluted then. This water isn't suitable for home use, fishing, or drinking. After a decline since 2010, […]
Fedecámaras, Venezuela’s key business federation, is keen on attracting foreign investment. This week, members met with counterparts from over 20 countries. Using social media, they disclosed their agenda to welcome trade missions from nations such as Germany, Argentina, and Canada. Moreover, the meeting included delegates from Panama, Portugal, and other countries. They aim to set […]
Colombia and FARC dissidents have confirmed in a joint statement that they will commence peace talks on October 8. The meeting took place in Suárez, a region known for its coca crops. The talks will happen in Tibú, close to Venezuela. A ten-month ceasefire starts the same day. President Gustavo Petro aims to give these […]