The National Confederation of Municipalities (NCM) disclosed that 51% of cities faced a fiscal deficit in the first half of 2023. This marks a significant jump from 7% for the same period in 2022. From January to August, cities spent 89 of every 100 currency units in revenue. Last year, they spent 80. NCM surveyed […]
Denis Mukwege is entering the December presidential race in the Democratic Republic of Congo. Known for advocating for sexually assaulted women, the 68-year-old gynecologist announced his candidacy in Kinshasa. He spoke to a large crowd, expressing concern for the country’s critical state. “We must act now,” he said, describing himself as a concerned citizen. Mukwege […]
Mozambique's Ministry of Land and Environment announced a new plan to take action in the carbon market. This plan aims to regulate carbon trading. The African Carbon Markets Initiative (ACMI) backs the plan. ACMI gets funding from various global partners. An inter-ministerial team is overseeing the project. This team includes experts from Belgium, Sweden, and […]
Santo Antônio, Brazil's fourth-largest hydro plant, halted operations today due to lower Madeira River levels caused by a severe Amazon drought. Santo Antônio Energia, the responsible consortium, issued a statement. The goal is to protect the plant's 50 turbines. This action marks a first: shutting down due to Amazon water scarcity. Importantly, regulators approved this […]
The Cape Verdean President stressed the importance of German President Frank-Walter Steinmeier's upcoming visit. For over a decade, both nations have focused on maritime cooperation. They aim to expand this relationship further. "We have a strong oceanographic collaboration with Germany," said Cape Verde's leader. "The visit aims to forge new partnerships between companies and research […]
Russia wants to expand the BRICS group by involving Latin American countries, says Guennadi Semiguin, a Russian lawmaker. A shared initiative, the Nicaragua Canal, could reshape Latin America's economic scene. Semiguin points out that talks between Russia, China, and Nicaragua on this project have resumed. Moreover, the project could rival the Panama Canal, offering another […]
As October began, Bitcoin reached a six-week high, with other cryptocurrencies like Ethereum and Litecoin also experiencing gains. The climb happens as Sam Bankman-Fried, founder of FTX, faces an upcoming trial. In contrast, Europe's stock markets dipped. Caroline Mauron, co-founder of OrBit Markets, discussed the weekend's tight liquidity. She said it could amplify buying flows […]
Brazil's industrial PMI dropped to 49.0 in September from 50.1 in August, says S&P Global Markets. A score under 50 signals sector contraction. Nonetheless, this rate surpasses this year's average of 47.6. Production shrank in 10 of the last 11 months. S&P cited bad weather and less consumer spending as reasons. Yet, the contraction in […]
In the second quarter, Abu Dhabi’s non-oil GDP surged by over 12% to $41.9 billion, highlighting the city’s booming non-oil economy. This data comes from a recent government report. Meanwhile, the total economic output increased by 3.5%. The financial sector is also on the rise. It grew nearly 30% year-over-year. Big names like Goldman Sachs […]
In August 2023, following a July marine platform explosion, Mexico’s state-owned Pemex experienced increased oil exports. The mishap cost two lives and nearly a day’s production. CEO Octavio Romero Oropeza spearheaded the overseas export of 1.07 million daily barrels. This shows a 2.3% monthly jump and makes up over half of Pemex’s total output. Year-over-year, […]
Chile and Argentina excel in the global wine market due to their fertile soil and ideal climate, producing award-winning wines. Despite local ups and downs, exports remain strong. Stats from the International Organisation of Vine and Wine (OIV) put both in the top ten. They excel in vineyard areas, wine-making, and shipping abroad. Argentina also […]
Lithium’s pivotal role in the electric vehicle market presents a golden opportunity for Latin American countries. Specifically, Chile and Argentina are seizing this opportunity. On the other hand, Bolivia remains a question mark, while Brazil’s contributions are minor for now. According to Benchmark Mineral Intelligence, Chile led with 34% of the world’s lithium output in […]
Mohamed Muizzu emerged victorious in the Maldives’ presidential election, securing 54% of the vote and defeating Ibrahim Solih. This win likely signals a new direction in the country’s foreign relations. Solih, the outgoing President, focused on maintaining close ties with India. However, Muizzu aims for a more balanced diplomatic stance, possibly including a stronger relationship […]
As Saudi Arabia nears the midway point of its Vision 2030 agenda, the country is experiencing a sweeping change. This shift is not just economic; it also extends to social and political domains. These changes resemble past global economic shifts, like the U.K.’s in the 1980s. The country aims to reduce its oil reliance under […]
Agro-industrial consultancy AgRural recently reported that Brazil's 2023/24 soybean planting reached 5.2% of the planned area. This sets a new speed record for the season. The rate climbed 3.3 percentage points from last week, outpacing last year's 3.8%. Previously, the 2016/17 season held the fastest rate at 4.8%. Currently, the southern state of Paraná leads […]
(Opinion) Trade protectionism often stirs debate, and Brazil’s dairy and agribusiness sectors are central to it. While trying to protect its local farmers, the government imposes taxes on milk imports from its Mercosur allies, Argentina and Uruguay. This strategy, however, is not without drawbacks. Higher prices can hurt consumers, and there’s also the risk that […]
Brazil is set to revise tax perks that currently benefit dairy imports from Mercosur countries. A new decree from the Ministry of Agriculture will soon formalize this change. Specifically, the tweak targets agribusinesses, cooperatives, and the dairy industry involved in a special program. Originally, these entities could use up to half of specific tax credits. […]
General Heider Giraldo, Colombia's top military official, has banned all armed forces members from using personal mobile devices. He stated, "Personal mobiles for recording combat are strictly off-limits. Use GoPro or similar cameras instead." This rule aims to ensure discipline and adherence to guidelines. Senior officers and unit leaders must penalize and correct violators to […]
Today’s Google Doodle celebrates the Appalachian Trail, a renowned hiking route spanning approximately 2,175 miles across 14 U.S. states. Marking its 55th anniversary as a National Scenic Trail, Google offers an interactive e-book. Just click the doodle on Google’s homepage to access it. The doodle isn’t only for Americans. It’s viewable in countries like Brazil, […]
Brazil consistently ranks among the top countries for online fraud and financial scams, according to various reports. Internet fraud like phishing is on the rise there. The expanding digital payment systems both ease life and invite more fraud. To fight this, investments are flowing into cybersecurity and awareness campaigns. Today, with tech advances, scams evolve […]
Salic, a Saudi Arabian fund, is in discussions with Brazil's Ministry of Agriculture to renew 40 million hectares of pasture. This move could double Brazil's food production area, with no deforestation. Japan, South Korea, and the UAE are also in talks. However, Saudi Arabia is likely to invest the most via Brazil's national bank. These […]
By 2050, experts predict that Brazil's population of people aged 60 and above will double from its current 30 million. In 2003, Brazil passed the Elderly Person Statute. It offers various protections for seniors, like priority service in public offices. Additionally, the law grants free public transit to those over 65. It also ensures minimum […]
Brazil must invest R$ 456 billion ($91.2 billion) yearly to match its 1970s productivity levels. This recommendation comes from a recent study by São Paulo's industry federation, Fiesp. The investment should span seven to ten years. In the 1970s, Brazil's output was 55% of that of the U.S., a significant economic benchmark. Nowadays, it's dropped […]
Global and Egyptian NGOs reported to the UN Committee Against Torture, asserting that torture in Egypt is widespread and systematic. This, they say, amounts to international crimes against humanity. Methods include beatings, electric shocks, and sexual violence. The report comes from Redress NGO, along with EIPR and ECRF. Next week, the Committee will review Egypt’s […]
Azerbaijani President Ilham Aliyev believes the South Caucasus is entering a “new era of peace.” He spoke at the 74th International Astronautical Congress. Aliyev says Azerbaijan acted under the UN Charter in the Nagorno-Karabakh conflict. Three years ago, Azerbaijan regained its lost territories. Last month, the nation fully restored its sovereignty. The UN had issued […]