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Grenergy, a Spanish developer, has unveiled a $2.6 billion investment plan for 2023-2026, focusing on renewable energy. This includes constructing the world’s largest battery storage power plant in Chile, named Oasis de Atacama. The project will enhance Chile’s role in renewable energy significantly. The company plans to allocate $1.5 billion for photovoltaics and $800 million […]
Colombia faces a potential energy deficit by 2027, largely due to delays in the Hidroituango dam project. Expert Santiago Arango Aramburo, speaking with Sputnik, highlighted this risk, emphasizing the importance of timely project completion. Since Hidroituango’s 2018 emergency, concerns about the country’s energy future have grown. The project, critical for meeting 17% of national energy […]
Despite some progress, Latin America still faces a significant wealth gap, with Brazil topping the global disparity list in 2022 as per UBS’s Global Wealth Report 2023. This report found 48.4% of Brazil’s total wealth was with only 1% of its people. Other nations, including India, the USA, China, and Germany, trailed Brazil. The Economic Commission for […]
Latin American stocks have surpassed other emerging markets, reaching their highest level since 2009. Geographical advantages and economic strategies are key factors. Their distance from global conflicts and proximity to the United States contribute significantly. Moreover, anticipated Federal Reserve interest rate cuts in 2024 have boosted this trend. Benchmark indices show Latin America outperforming regions […]
On Thursday, the Ibovespa (IBOV) experienced a notable rise as investors concentrated on the Eurozone's economic data throughout the day. The Thanksgiving holiday in the United States reduced market activity as Wall Street exchanges closed. By 12:15 PM Brasília time, Brazil's primary stock index had increased by 0.46%, reaching 126,620 points. Despite this overall growth, […]
The Datafolha study for TecBan highlights a shift in payment preferences among Brazilians, who are increasingly favoring cash over digital methods. Despite a global move towards a cashless society, 54% of Brazilians now opt for cash withdrawals. The study interviewed 1,519 people, showing a 12% increase in cash use from the previous year. This preference […]
In 2022, Brazil saw an 8% drop in greenhouse gas emissions, producing 2.3 billion tons. The Climate Observatory released this data on November 23, 2023, using the Greenhouse Gas Emissions Estimation System (SEEG). Additionally, net emissions, which include carbon absorption by forests, fell by 11% to 1.7 billion tons. This was a decrease from 52% […]
São Paulo Governor Tarcísio de Freitas, a member of the Republican party, will attend Argentine President Javier Milei’s inauguration on December 10th. He joins a delegation led by former Brazilian President Jair Bolsonaro, representing the Liberal Party (PL). This delegation includes over 20 notable figures, such as former First Lady Michelle Bolsonaro and Senators Ciro […]
Colombia and the European Union have reinforced their defense and security relationship through a focused 'Dialogue on Security and Defense'. This initiative aims to deepen bilateral relations amid global security challenges. Previously, Colombian President Gustavo Petro declared that Colombia would stop buying arms from the United States, Canada, and Israel. This announcement came on November […]
The UK and South Korea have entered a pivotal agreement, enhancing their economic and military collaboration. This pact addresses the rising tensions with North Korea, signed by South Korean President Yoon Suk Yeol and British Prime Minister Rishi Sunak in London. Their focus includes advancing technology, defense, and security sectors, especially in artificial intelligence and […]
Daniel Noboa, at 35, becomes Ecuador’s youngest president amidst significant challenges. His tenure begins in an environment strained by drug-related violence and political turmoil. Noboa, a centrist figure supported by right-wing factions, faces an 18-month term, taking over from Guillermo Lasso. Lasso’s shortened term, truncated by early elections to circumvent a corruption trial, bequeaths a […]
(Opinion) In Brazil, 15 government senators have united to curb the Supreme Federal Court’s (STF) extensive powers. This bipartisan effort supports a constitutional amendment reflecting widespread concern over the court’s reach. Their actions transcend party lines, showing a shared desire for judicial restraint. Senate Government Leader Jaques Wagner and other government senators back the opposition […]
Under the Lula government, the $10 billion surplus, achieved by the Bolsonaro administration in 2022 and marking the best public account result since 2013, was utilized within a year. On Wednesday, Brazil updated its deficit forecast for the year. The new figure is R$ 177.4 billion ($36.227 billion), up from September's R$ 141.4 billion ($28.876 […]
Panama’s economy grew by 8.7% in the first eight months of this year, a noteworthy achievement. The National Institute of Statistics and Census (INEC) provided this information. The growth reflects the country’s dynamic economic activities. Key sectors like construction, trade, and transportation significantly contributed to this increase. The construction sector saw a remarkable 52.3% rise […]
On November 20, 2023, the Itaipu Hydroelectric Plant set a new daily record in energy production. This plant, owned by Paraguay and Brazil, generated 287,848 megawatt-hours (MWh). This achievement surpassed the previous record from November 16, where it produced 282,781 MWh. Such high output reflects the plant's growing capability. The plant's success is due to […]
In September, Argentina’s economy experienced a 0.7% decrease from the previous year, contributing to an overall 1.5% decline in the first nine months of the year. The National Institute of Statistics and Censuses (INDEC) reported these figures, indicating economic challenges. Several sectors experienced declines, highlighting the varied impact across industries. Notably, the Net Taxes on […]
Brazil is actively creating plans to prevent deforestation and promote sustainable development in all its ecological regions. These plans, led by Environment and Climate Change Minister Marina Silva, aim to be ready by next year's first half. Silva's approach focuses on combining environmental conservation with new development strategies. These strategies will tackle issues like inequality […]
Robinson Barreirinhas, Brazil's Federal Revenue Secretary, underscores the challenge Brazil faces in controlling its tax revenue due to over 200 special tax regimes. These tax regimes, which are quite complex, lead to a loss of tax revenue. Barreirinhas points out that these special exemptions weaken Brazil’s fiscal management. He links this problem to recent changes […]