In 2022, Mozambique's Cahora Bassa Hydroelectric Plant (HCB) achieved its highest electricity production in five years, generating 15,753.5 gigawatt-hours (GWh). This marked a 5.1% increase from 2021, nearing the 2015 record of 16,978.4 GWh. HCB's 2022 performance brought in over 27 billion meticais (€386 million) in revenue. The Mozambican state significantly benefited, receiving 2,700 million […]
Brazilian President Lula da Silva has nominated Flávio Dino, currently serving as Justice Minister, to the Supreme Federal Court (STF). This move is to fill the vacancy left by former judge Rosa Weber. Senate President Rodrigo Pacheco now reviews Dino's nomination for a critical role in Brazil's highest court. Dino needs support from at least […]
Analysts at the Economist Intelligence Unit (EIU) predict that the Kwanza, Angola's currency, will remain unsteady from 2024 to 2028. They also forecast an average economic growth of 3.5% during this period. The EIU's recent report, accessed by Lusa today, sheds light on this topic. It suggests the Kwanza will stabilize after a big drop […]
Uruguay is stepping into space exploration, planning to set up a rocket launch site in its eastern Rocha department. Mariana García, a space advisor for the Uruguayan Air Force, emphasizes the importance of this emerging business. She advocates for Uruguay to establish its own space agency. This initiative is a new direction for Uruguay, which […]
Fitch Ratings’ 2024 projections present a “Neutral” outlook for local and regional governments in Latin America, highlighting mixed financial trends. In its recent report, Fitch identifies varying scenarios across countries. For Argentina, now under President Javier Milei, the outlook is “Deteriorating.” This is due to increased risks in refinancing and upcoming debt maturities, a situation […]
Panama’s Supreme Court has recently ruled against First Quantum Minerals Ltd.’s mining contract, shaking the foundation of one of the world’s largest copper mines. The court’s President, María Eugenia López, announced this unanimous decision on Tuesday. Now, the ruling will be officially published in the national journal. This verdict intensifies the uncertainties surrounding First Quantum’s […]
Brazil's National Index of Consumer Prices-15 (IPCA-15) showed a slight inflation increase to 0.33% in November. This rate, higher than October's 0.21%, reflects a mix of economic factors. The Brazilian Institute of Geography and Statistics (IBGE) reported these figures, noting a cumulative annual inflation of 4.30% and a 12-month rate of 4.84%. Food and beverages, […]
Uruguay’s latest census, shared by the National Institute of Statistics (INE), unveils significant demographic changes. The nation’s population stands at 3.444 million, with a slight majority of 52% women. This number marks a 1% increase since 2011, largely due to around 62,000 new immigrants. INE Director Diego Aboal credits these immigrants for preventing a population […]
In northern Israel, Israeli soldiers are actively preparing for confrontations with Hezbollah, facing regular clashes with the militant group in southern Lebanon. Captain Yoshiahu, a 27-year-old reservist and father, joined the front on October 7, leaving behind his engineering studies. His commitment and motivation reflect the soldiers’ dedication. This mobilization came after Hamas launched a […]
Guyana's Defense Force is actively strengthening its connections with Brazil and Canada's armed forces. This move is particularly significant given the ongoing dispute with Venezuela over the Esequibo region. Recently, Georgetown hosted the 26th Regional Military Exchange Meeting between Brazil and Guyana. This yearly event is a platform for military officials from both countries to […]
The World Resources Institute (WRI) has released alarming data indicating that 25 countries, home to approximately one-quarter of the world’s population, are facing extremely high water stress. This situation occurs when nearly all available water resources are consumed annually. The WRI’s Aqueduct Project’s Water Risk Atlas highlights this critical issue. It indicates a broader global […]
Shein, a leading Chinese online fast-fashion retailer based in Nanjing, is preparing for a major initiative in 2024. The company has confidentially filed for an IPO with the U.S. Securities and Exchange Commission SEC. This strategy, reported by The Wall Street Journal, involves top financial institutions like Goldman Sachs, JP Morgan, and Morgan Stanley. In […]
In a significant development for Brazil's labor market, nearly 1.8 million new formal jobs are expected to be announced for 2023. Labor Minister Luiz Marinho will share these details during the Caged (General Register of Employed and Unemployed) presentation in Brasília. Minister Marinho highlighted recent employment trends at the Radio Bandeirantes CIEE-Youth Employability Forum. He […]
The Brazilian Chemical Industry Association (Abiquim) predicts a $47 billion deficit for Brazil's chemical sector by 2023's end. This near-record shortfall is the second-largest deficit in the industry's history and reflects the industry's struggles, especially against rising imports, primarily from Asia. This year, the imbalance between $52 billion in imports and $12.2 billion in exports […]
Venezuela unveiled significant new partnerships in its oil sector, involving agreements with eight multinational oil companies. These partnerships became possible after the U.S. eased energy sanctions against Venezuela. The easing of these sanctions was a direct result of an electoral agreement. In October, U.S. President Joe Biden’s administration relaxed sanctions. These sanctions, imposed by the […]
A major strike involving workers from multiple sectors is set to occur on Tuesday, November 28, 2023, in São Paulo. Employees from the Metro, São Paulo Metropolitan Trains Company (CPTM), Sanitation Company (Sabesp), Fundação Casa, and those in the health and education sectors will join. This strike, which was decided on November 22, is a […]
On Monday, a tragic road accident involving 13 vehicles unfolded in the Sierra de Igarapé area of Southeast Brazil. This incident resulted in the death of at least six people. Local media reported the story, citing the Fire Brigade's accounts. The crash took place near Belo Horizonte, Minas Gerais' capital. A truck carrying 27 tons […]
Just four days into his term, Ecuador’s President Daniel Noboa took a decisive step by planning to propose a crucial law. This law, the Urgent Economic Law for Job Generation, aims to boost employment. He will present it to the National Assembly. His announcement came via a social media video, where he outlined Ecuador’s economic […]
In Peru, a major political conflict is unfolding. Patricia Benavides, the Prosecutor General, has taken a bold step. She filed a constitutional complaint against President Dina Boluarte. This action occurred in the Parliament. The complaint connects to deaths in recent anti-government protests. These protests happened from December 2022 to March 2023. Benavides made her move […]
Brazilian Vice President Geraldo Alckmin announced a significant advancement in international trade by Mercosur, a major South American trade bloc. This bloc includes Brazil, Argentina, Paraguay, and Uruguay. They have all agreed on a new set of trade rules, known as the Rules of Origin agreement. This agreement is a big deal. It will make […]
The Panama Canal Authority (ACP) has launched additional auction slots as a creative solution for the canal’s congestion, mainly caused by a prolonged drought. This innovative approach lets ships bid for quick transit, sometimes at high costs. In 2023, companies have spent roughly $235 million to expedite passage, a response to reduced transits due to […]