Angola's government has signed a deal with CNCEC, a Chinese company, to build a new refinery. This refinery, known as the Lobito Refinery, will be in Benguela province. The project will cost $6 billion. Sonangol, Angola's state-owned oil firm, also joined this effort. It signed three contracts. The first is for building the refinery with […]
Yesterday, Guyana’s government approached Carlos Amador Pérez Silva, the Venezuelan ambassador. The topic? Rising military activities near the shared border. This area has been a tension point between the two countries. The reason? The Esequibo region. This area spans 160,000 kilometers, rich in natural resources and minerals. Venezuela claims this territory. In response to Guyana’s […]
This year, China's purchase of 54.87 million tons of soybeans underscores Brazil's dominant position in the global soybean market. September showcased this bond. As per the data shared on Friday (20), China's intake of Brazilian soybeans spiked by 23% compared to the previous year. This increase correlates with Brazil's stellar soybean production this year, ensuring […]
Starting the winter of 2023-2024, Latam Airlines in Brazil is making a significant move by expanding its travel options. It will strengthen its existing partnerships with Lufthansa and Swiss airlines. The goal is clear: to offer more flight choices and improve the passenger experience. The initial step of this growth plan starts on October 30, […]
Iran's presence in Latin America is growing, a trend closely watched by international security experts. The country is focusing its activities in nations often in opposition to the United States, such as Cuba, Venezuela, Nicaragua, and most recently, Bolivia. Reports show that high-level Iranian officials have increased their visits to these countries, solidifying diplomatic and […]
(Opinion) Last Thursday, Brazil’s economic juggernauts, the Southern and Southeastern states, took decisive action. They united to form the Cosud consortium. Let’s understand the weight of this. These regions produce 80% of Brazil’s industrial, financial, and service outputs. Moreover, these states house 95% of Brazil’s millionaires and virtually all its billionaires. It’s more than mere […]
The IBC-Br index, akin to a snapshot of Brazil's GDP, declined by 0.77% in August. The drop was more than what financial experts had guessed. They thought it would go down by only 0.4%. The Central Bank shared these numbers last Friday. If you're curious, a full report is out for people to read. Now, […]
(Opinion) Latin America is on the brink as the fentanyl crisis that overwhelmed the U.S. now threatens its doorstep. Every day, the threat magnifies, and mere concern isn’t enough. Mexico, now the prime hotspot, isn’t alone. Colombia, Ecuador, and others are in the fray, all entangled in production and trafficking. Disturbingly, seizures of this deadly […]
Kazakhstan intends to begin producing Turkish drones by 2024, as revealed by Erol Oguz, a spokesperson for Turkish Aerospace. He clarified that the deal involves more than just manufacturing. Kazakhstan will also receive valuable technology and know-how from Turkey. The aim is for Kazakhstan to make drones on its own in the future. In a […]
Brazil's Nubank could see its value skyrocket in the next three years, says Morgan Stanley. This digital bank counts Berkshire Hathaway among its top shareholders. Analysts expect the bank's market value to reach $104 billion by 2026. This bullish outlook considers new services in Brazil and growth in other Latin American countries. Morgan Stanley coordinated […]
A recent study by the environmental group MapBiomas shows Brazil lost 15% of its native forests between 1985 and 2022. This means the forested area shrank from 581.6 million hectares to 494.1 million hectares. Agriculture and livestock farming are the main culprits. In fact, the last five years alone accounted for an 11% loss of […]
The Rademaker Frigate of the Brazilian Navy encountered a severe setback when a fire erupted on the vessel as it navigated south of Rio de Janeiro. Crew members acted swiftly. They fought the fire through the night. By morning, they had the situation under control. Now, let's look at the ship's journey. The Rademaker set […]
Bolivia’s President, Luis Arce, recently signed a bill aiming to limit the amount of land foreign individuals can own. It proposes a cap of 2,000 hectares for foreigners. Meanwhile, Bolivian citizens can own up to 5,000 hectares according to national law. Why does this matter? Well, Miguel Urioste, a researcher, found that about one million […]
People in Kinshasa, the capital of the Democratic Republic of Congo (DRC), are amazed. A Turkish company has quickly built a large financial center. Before, Chinese firms usually led such big projects. Even street vendors and security staff can’t believe the pace. They say it’s faster than previous Chinese efforts. In February 2022, Turkey’s President, […]
The National Bank for Economic and Social Development (BNDES) has approved a loan of R$ 2.5 billion ($497 million) for São Paulo. The money will go toward buying electric buses to modernize the city's public transport. The city plans to buy between 1,000 and 1,300 new electric buses with this loan. These new vehicles could […]
Argentina is facing a crucial presidential election on October 22 amidst its sixth recession in ten years, and the situation is escalating rapidly. Inflation is high, nearly reaching a rate of 140%. This difficult financial climate is causing some companies to stop their sales. They are worried about a drop in the value of the […]
Brazilian President Luiz Inácio Lula da Silva recently praised the U.S. for its decision to ease sanctions on Venezuela. He believes this should become a permanent change. Lula aims to improve stability across the region with this move. On January 1, right after assuming office, he reignited top-level diplomatic relations with Venezuela. In a social […]
Brazil has recently launched a new project to intensify its efforts to protect endangered plants and animals, according to official sources. It aims to use genetic research to help conserve native species. Two main organizations are leading the effort. The government-run Chico Mendes Institute for Biodiversity Conservation and the Vale Technological Institute have joined hands. […]
Brazil's state-owned oil company Petrobras is considering putting money back into Venezuela. This idea comes after the U.S. lifted its sanctions on Venezuela. Petrobras' CEO, Jean Paul Prates, made this clear at a recent event. He said the focus is purely on business, not on politics or ideology. In the past, Petrobras and Venezuela's
Peru’s National Prosecutor’s Office has initiated a preliminary inquiry into Alberto Otárola, the country’s Prime Minister. The charge is potential collusion involving misuse of state funds. The office announced this probe through social media. They suspect Otárola instigated corrupt activities in a government agency called Devida. This investigation follows a recent TV report. The show, […]
At Allianz Parque, fans of the Palmeiras soccer team took a unique approach to protest against the club’s President, Leila Pereira. Before a match with Atlético-MG, these fans unveiled a large team jersey. On it, they had hidden the logos of Crefisa and FAM, two companies owned by Pereira. The fans made their feelings known […]
Venezuela has taken a significant step by releasing five political prisoners early on Thursday. These prisoners include key figures in the opposition. This development is part of an agreement between President Nicolás Maduro and opposition groups. They have planned to hold presidential elections in the second half of 2024. In a related development, the United […]