UBS Group is nearing a deal with Mozambique to forgive about $100 million in debt. The Mozambican attorney general could announce this agreement next week. This move would help UBS avoid a lengthy trial in London. UBS inherited this legal issue by buying Credit Suisse. Previously, Credit Suisse arranged $2 billion in loans for Mozambique's […]
In Eswatini, once known as Swaziland, voters are casting ballots for a new parliament. Yet many think the outcome is already set. That’s because King Mswati III holds all the power. He appoints the prime minister, cabinet, and judges. Moreover, laws need his approval to take effect. Most people show little excitement about the election. […]
Brazil's Energy Minister Alexandre Silveira announced a significant oil discovery in the Equatorial Margin based on an internal Petrobras study. Specifically, the Equatorial Margin block could hold 5.6 billion barrels. If true, this would boost Brazil's current 14.8 billion barrel reserves by 37%. This exciting block, known as FZA-M-59, is in the Amazon Basin. However, […]
Mozambique Airlines (LAM) aims to double its aircraft count to 22 by 2027, says the Operations Director. Speaking in Inhambane, he revealed plans to add three more planes this year. The goal is to meet demand by resuming services and launching new routes. Currently, LAM has nine aircraft. The plan is to increase this number […]
Banco de Fomento Angola (BFA) analysts say Angola might face over 20% inflation by year's end. They argue that a stabilized kwanza and tighter monetary rules could prevent this. According to a client note, the BFA team warns that the August price hike isn't just seasonal. They point out the varying food prices and predict […]
Colombia’s August unemployment rate dropped to 9.3%, reports the National Administrative Department of Statistics (DANE). The rate was 10.6% a year ago, marking a 1.3-point decrease. Compared to July’s 9.6%, it’s a 0.3-point drop. The overall workforce participation in August hit 64.4%. This shows a 1-point boost from 63.5% last August. Additionally, 58.5% were employed, […]
Ecuador’s economy expanded by 3.3% in the second quarter of this year, driven by a 6.4% surge in government spending, as reported by the Central Bank. Household consumption also rose by 4.3%. Fixed capital formation went up 3.8%. World agencies like the Central Bank and World Bank cut growth forecasts for Ecuador. The Central Bank […]
August’s 12.4% inflation rate in Argentina has reignited fears of a return to the painful era of hyperinflation. Patricia Bullrich, an opposition candidate, warned of this risk. Yet, experts suggest the panic is unwarranted. Argentinians often see prices rise. Still, this isn’t the devastating 50% monthly hike that marks hyperinflation. Data reveals an unsettling economy. […]
Russian President Vladimir Putin spoke at the International Russia-Latin America Conference. He underlined Latin America's growing importance in world politics. He says these nations contribute to a fair, multipolar international system. Putin expressed Russia's eagerness for deeper bilateral ties with Latin America. He also supports their full membership in the BRICS group. Putin wants these […]
Argentina’s Senate approved a law removing income tax for individuals earning less than 1.7 million pesos ($4,930) monthly, equivalent of 15 federal minimum wages. With a 38 to 27 vote, the law effectively increases the no-tax income bracket. Economy Minister Sergio Massa, also running for president, initiated the measure. Nevertheless, the opposition coalition, ‘Juntos por […]
(Opinion) Many believe that China’s economic hurdles are merely short-term setbacks. This perspective, however, ignores the long-lasting issues affecting the world’s second-largest economy. Firstly, let’s focus on the concept of destiny. According to research by U.S. economists Lant Pritchett and Larry Summers, nations rarely sustain rapid growth for extended periods. Notably, established economies like South […]
The UBS Global Real Estate Bubble Index of 2023 states that home prices in São Paulo are fairly priced, reducing bubble risks. However, residents find it costly due to Brazil's double-digit interest rates. Released this month, the report emphasizes that these elevated prices often steer São Paulo's population toward renting. Consequently, rental rates have seen […]
Bitcoin and Ethereum are trending upward this Friday, poised to conclude September with gains of 4.15% and 1.76%, respectively. Today, the U.S. Personal Consumption Expenditures (PCE) Index also grew. It rose by 0.4% in August compared to July. Annually, it increased by 3.5%. The core PCE, which filters out volatile items like food and energy, […]
A video surfaced from the Imaculada Conceição School in Videira, in Brazil’s Santa Catarina state. In it, a Portuguese teacher discussed neutral language. This sparked widespread discussions. She touched on challenges non-binary individuals face with traditional pronouns. Unaware of the recording, she commented on non-binary individuals feeling excluded. She mentioned adapting to conventional terms due […]
Based in the UAE, EDGE Group recently bought a 50% share in Brazil's Siatt. The deal includes a technical partnership with Brazil's Navy. EDGE's CEO, Mansour Al Mulla, visited Brazil to sign several contracts. Top executives from the company joined him. Founded in 2019, EDGE is a conglomerate that mainly focuses on defense. Faisal Al […]
In Brazil, the jobless rate dropped to 7.8% for the quarter that ended in August 2023. This marks a decrease of 0.5 percentage points from the prior quarter spanning March to May 2023. Furthermore, it's the lowest unemployment rate observed since a 7.5% rate in February 2015. Compared to last year's time frame, there's a […]
Amnesty International (AI) released a new report about human rights in Zimbabwe. The document reveals President Emmerson Mnangagwa’s rule hasn’t improved democratic freedoms. He took office in 2017, promising to fix past wrongs left by former leader Robert Mugabe. However, the report states the opposite has occurred. Khanyo Farisè, AI’s Deputy Director for Southern Africa, […]
The Nagorno-Karabakh region, nestled in the South Caucasus, has long been a flashpoint between Armenia and Azerbaijan. Both nations fiercely contest the region’s sovereignty, with the dispute rooted in a blend of historical, political, and territorial claims. Understanding this conflict requires delving into several intertwined facets that have influenced the current dynamics: Historical Foundations Both […]
The UN Refugee Agency (UNHCR) is readying for a possible full-scale exit of Armenians from Nagorno-Karabakh. The Armenian government has already confirmed 88,780 people have left. Kavita Belani, the UNHCR rep in Armenia, said they’re set to handle more than 120,000 refugees, although the exact number is uncertain. The UN has started crafting long-term plans […]
Eurostat’s data shows a 4.3% Eurozone inflation rate for September, the lowest since October 2021. Factset had projected a 4.5% rate for the same month. In August, Eurostat recorded a 5.2% year-on-year inflation rate. The food sector, including tobacco and alcohol, contributed the most. It saw an 8.8% rise in September, a decrease from 9.7% […]
A recent PoderData poll shows 61% of Brazilian voters oppose legalizing all drugs. At the same time, 53% back the decriminalization of marijuana. Conducted from September 24 to 26, 2023, the survey reached out to 2,500 people. Calls were made to mobiles and landlines across 212 towns in Brazil's 27 states. Another 22% are for […]
(Opinion) Chile’s government introduced a law to regulate high-risk funerals, highlighting the escalating threat of narcoculture in local communities. President Gabriel Boric insists, “We must fight narcoculture now. Public safety is at stake.” So, what are high-risk funerals? Simply put, they glorify criminal martyrs. Gunfights and fireworks disrupt public spaces. Residents have to halt work […]
Argentina’s Central Bank’s new rule has reignited tensions with homegrown Latin American e-commerce giant Mercado Libre. The bank aimed to replace an instant debit feature with a system called “Pull Transfers.” They wanted to lower fraud risks. Mercado Libre saw this as a step back for financial inclusion. This is not a first. The government […]
Chile’s government has laid out plans to strengthen its lithium industry. “The strategy is progressing well,” said the Mining Minister. The Foreign Minister emphasized the plan’s global importance. Specifically, he cited global interest in Chile’s rich lithium reserves. The Economy Minister aims for equitable benefits for locals. Officials, part of a specialized Lithium Council, are […]
Petrobras and Vale are collaborating to develop sustainable fuels and other low-carbon technologies. These include hydrogen, green methanol, and biofuels. They also aim to work on CO2 capture and storage. Commercial deals are in the pipeline, too. Petrobras plans to supply low-carbon fuels for Vale's activities. This move aligns with Vale's goal to cut greenhouse […]