Egypt’s State Information Service President, Diaa Rashwan, has indicated positive signs for extending the Israel-Hamas ceasefire by an additional one or two days. As per Reuters, Rashwan’s statement highlights ongoing negotiations to prolong the four-day truce. An extended ceasefire could facilitate the release of more detainees from Gaza and Palestinian prisoners from Israeli jails. The […]
Oxford Economics projects Angola's inflation to increase, reaching 18% by the end of this year and 20.3% in early 2024. To address this, the National Bank of Angola is expected to raise interest rates by 200 basis points. Since May, the kwanza's significant devaluation has contributed to higher food and transportation costs, exacerbating the inflationary […]
The government of Guinea-Bissau plans to build over a thousand kilometers of roads by the end of its legislative term, focusing on public-private partnerships. Prime Minister Geraldo Martins highlighted the urgency for better infrastructure in a country where roads are mostly unpaved and riddled with potholes. Recognizing limited financial resources, Martins is considering borrowing but […]
Renamo, the primary opposition party in Mozambique, has openly rejected the local election results announced by the Constitutional Council (CC). Ossufo Momade, Renamo's President, declared this in Maputo, emphasizing the party's stance against the CC's proclamation. The CC recently affirmed the ruling party, Frelimo, as the victor in 56 municipalities during the October 11 elections, […]
Petrobras, Brazil’s and Latin America’s leading oil company, has discovered a significant natural gas reserve in the Caribbean Sea. Their aim is to collaborate with other corporations, transforming Colombia into a gas exporter. This plan includes potential partnerships with companies like Saudi Arabia’s Aramco, which is already affiliated with the Brazilian gasoline brand in Chile. […]
Petrobras has unveiled its strategic plan for 2024-2028, aiming to generate 1.4 million jobs, with an annual average of 280,000. This initiative focuses on oil exploration and production. Jean Paul Prates, Petrobras' president, shared these details in Rio de Janeiro. Compared to the previous 2023-2027 plan, this marks a 31% growth, shifting focus towards future-oriented […]
Kenya is in the midst of a severe flood crisis, resulting in over 70 deaths and thousands displaced. President William Ruto declared this an emergency, highlighting the disaster’s severity following the region’s worst drought in four decades. The floods, caused by the El Niño weather pattern, have also affected neighboring Somalia and Ethiopia. President Ruto […]
Latam Airlines became the leading carrier on US-Brazil routes for the quarter ending in October. This success came after the airline resumed its direct flights to Los Angeles. Brazil's aviation authority, ANAC, reported this development last Friday. Outshining its competitors, American Airlines and United Airlines, the Chile-based Latam Airlines transported over 260,000 passengers between the […]
The Mexican Chamber of Deputies has approved a substantial budget increase for the National Defense Secretariat (Sedena) for 2024. This increase, amounting to about $14.824 billion, is 131.8% more than the 2023 budget. Consequently, this shift in funding priorities signals a strategic change in government expenditure. 2024, the Armed Forces will handle 20% of the […]
In October 2023, Brazil experienced a boost in industrial production, as the National Confederation of Industry (CNI) revealed. Their Industrial Survey showed the industrial production evolution indicator climbing to 50.9 points, exceeding the pivotal 50-point mark that differentiates between growth and decline. Historically, the average for October stands at 51.6 points, and this survey reflected […]
Over the last 10 months, Brazil has remarkably expanded its global reach in the agricultural sector. The country now exports to 57 additional markets, as the Ministry of Agriculture and Livestock (Mapa) confirmed. This expansion directly results from Brazil's strategic efforts in compiling technical information and engaging in international negotiations. Key achievements in this expansion […]
In October 2023, Brazil's agribusiness sector showcased its global impact, exporting $13.4 billion worth of goods. This figure, though 2.3% lower than the previous year's October, formed a significant 45.4% of Brazil's total exports for the month. The Farming Ministry provided these insights in their Agricultural Trade Balance report. The report highlights a decline in […]
The European Union and Chile are poised to finalize a trade agreement next month. This is a key achievement for the EU amid difficulties in securing deals with Australia and other Latin American nations. This agreement, set to be signed on December 21st, follows a unanimous decision by EU member states. The decision emerged from […]
Daniel Salazar Castellanos's report shows that Latin America's public social spending soared during the pandemic, addressing the economic and social crisis. This investment, crucial for services like education and health, is now decreasing. In 2022, Latin America's central government social spending fell to 11.5% of GDP from 13.4% in 2020, as per the Economic Commission […]
This week, the Ibovespa index, representing Brazil's stock market, closed at 125,517 points, marking a 0.60% weekly increase. The market reacted to diverse stimuli, both local and global. The U.S. markets saw modest activity during the Thanksgiving holiday. Dow Jones rose by 0.33%, the S&P 500 by 0.06%, and U.S. 10-year Treasury yields approached 4.5%. […]
In Peru, the economic recovery remains elusive, leading to a continuous decline in private investment. Recent data from the Central Reserve Bank of Peru (BCRP) shows a 6.2% year-on-year drop in private investment during the third quarter of 2023. This downturn marks the fifth consecutive quarter of such decline. The BCRP identifies the reduction in […]