The Brazilian Ministry of Finance has lowered its 2023 GDP growth forecast for the country from 3.2% to 3%. For 2024, the growth estimate is now 2.2%, down from 2.3%. This update was released in the MacroFiscal Bulletin on November 21, 2023. The government expects a 4.66% inflation rate in 2023. Based on the National […]
Joseph Boakai won Liberia’s presidential election, narrowly defeating incumbent George Weah. Boakai received 50.64% of the votes, a slim margin of 20,567 votes over Weah’s 49.36%. Weah’s peaceful concession to defeat marked a significant moment for the region, often plagued by coups. ECOWAS praised Liberia for its commitment to democracy. Yet, the joy was tainted […]
In Brazzaville, Congo’s capital, a tragic stampede at an army recruitment event resulted in at least 37 deaths. This incident occurred early Tuesday during the recruitment of 1,500 youths aged 18 to 25. Congolese authorities, including Prime Minister Anatole Collinet Makoso, acknowledged the fatalities and injuries. Social media revealed the aftermath, with many lifeless bodies […]
Emerging market currencies are set for their best year since 2017, experiencing a late surge as 2023 nears its end. This upturn has been driven by improved U.S. inflation data, sparking hopes of a Federal Reserve rate cut by mid-2024. As of Tuesday, the MSCI EM Currency Index has gained 3.4% this year, a notable […]
Hilton Hotels is entering Angola's market, partnering with Grupo Veleiro on a $150 million venture. This initiative will transform the current Jango Veleiro Restaurant site in Luanda's Ilha into a 306-room hotel. The project promises to create about 1,900 jobs, boosting Angola's economy. The construction phase is set for four years, with funding from international […]
Following Javier Milei’s presidential election win in Argentina, the country’s stock market experienced a significant surge. On Tuesday, November 21, the Merval index, Argentina’s main stock market benchmark, jumped by 21.23% to 782,027 points. This rise marks a strong investor response to Milei’s victory, with the libertarian candidate securing 55.69% of the votes, 11 percentage […]
Spain’s re-elected Prime Minister, Pedro Sánchez, faces a new crisis with his offer of amnesty to Catalan separatists. This move, sparking protests across Spain, especially in Madrid, highlights the complexities of Spain’s political system. Sánchez’s re-election, aided by this controversial legal maneuver, has stirred widespread discontent. The amnesty deal is crucial for Sánchez’s coalition government, […]
OECD countries sustained a 0.5% GDP growth in the third quarter, mirroring their second-quarter performance, largely driven by the U.S. The OECD revised the second quarter's growth from 0.4% to 0.5%. G7 nations saw faster growth from July to September, increasing to 0.6% compared to 0.4% in the previous quarter. The U.S. significantly influenced this […]
Most OpenAI staff are contemplating resignation following CEO Sam Altman's unexpected dismissal, with a potential move to Microsoft. This situation emerged after Microsoft, a major shareholder in OpenAI, proposed Altman and co-founder Greg Brockman lead a new AI division. Approximately 600 of OpenAI's 770 employees are against working under the present leadership, questioning their capability […]
Drausio Giacomelli, Deutsche Bank's Chief Emerging Markets Strategist, notes that Brazil's fiscal discussions and rising spending have led to global investor caution. This skepticism is limiting the flow of foreign capital into the country. In 2023, foreign direct investment (FDI) in Brazil’s production sector plummeted by 40%. Reports from the Central Bank highlight a decrease from last […]
During the Dubai Air Show 2023, Embraer Defense and Security showcased the C-390 Millennium, a leading military transport aircraft. This event included meetings with potential clients in early November, highlighting the aircraft's recent success in the European NATO market. The C-390 Millennium, known for its capability to transport up to 26 tons, drew significant attention. […]
Brazil's soybean market recently faced a day of mixed price trends due to varying market forces. The Chicago market's rise and the dollar's significant fall influenced these changes. Notably, there weren't many business deals during this period. Soybean prices varied across different Brazilian regions. In Passo Fundo (RS), the price for a 60-kilogram sack went […]
Javier Milei, from the “La Libertad Avanza” coalition, made history in Argentina’s presidential election by winning 55.69% of the votes. He defeated Sergio Massa of the “Unión por la Patria” party, securing the highest vote count ever in the country’s history. On November 19, 2023, Milei received around 15 million votes, making him Argentina’s most […]
On Monday, November 20, 2023, Brazil's country risk index, measured by the 5-year Credit Default Swap (CDS), fell to 155 points. This marks its lowest level in nearly three years, the last similar reading being 153 points in February 2021. World Government Bonds reported this recent update. For historical trends of the index, the Investing […]
Ismail Haniyeh, Hamas’ leader, announced on Tuesday, November 21, 2023, that a truce with Israel is within reach. This announcement comes amid ongoing conflicts in the Gaza Strip. The talks, led by Qatar, Egypt, and the USA, aim for a ceasefire lasting at least five days and include the release of hostages. It’s believed that […]
In the third quarter of 2023, Chile’s economy saw a 0.6% growth compared to the same period in the previous year. On Monday, the Central Bank announced this as the first increase of the year. The “National Quarterly Accounts” report was the source of this information. It showed that Chile’s Gross Domestic Product (GDP) rose […]
In 2023, Brazil achieved a significant milestone by exceeding $300 billion in exports for the second year in a row. The government announced this accomplishment recently. The Ministry of Development, Industry, Commerce, and Services provided the data. By the third week of November, Brazil's total exports had reached $300.014 billion. Meanwhile, imports stood at $213.502 […]
Venezuela and Colombia are launching new air routes, a major step in their improved relations. This move, announced by Venezuela's Ministry of Transportation, follows recent agreements between the two countries. Venezuela's Transport Minister, Ramón Velásquez Araguayán, expressed excitement about these routes, enhancing ties with Colombia. He highlighted their commitment to regional unity and cooperation. The […]
Mexico has started its presidential pre-campaign for the 2024-2030 term, showcasing three candidates, including two women. Claudia Sheinbaum, Xóchitl Gálvez, and Samuel García stand as the current contenders for the nation’s top office. Over the next 60 days, they will unveil their political agendas, adhering to electoral laws. Sheinbaum, from the “Sigamos Haciendo Historia” coalition, […]