In a crucial meeting, the Federal Reserve decided to maintain unchanged interest rates, signaling a pause in prior increases. This decision reflects a cautious approach to economic management, aligning with officials’ unanimous consensus on the current economic status. The Fed indicates a shift from its earlier plan by retaining the federal funds rate at 5.25%-5.5%, […]
The Brazilian and U.S. armies have started a joint project to develop advanced 120mm mortar ammunition. This initiative, known as PA-A-23-0001, focuses on creating extended-range munitions. It integrates cutting-edge technologies, which include low-sensitivity energetic compounds for propellants and explosives. These technologies aim to enhance ballistic performance and include new designs for grenade bodies, propulsion engines, […]
Abiove, the Brazilian Association of Vegetable Oil Industries, recently revised Brazil's soybean harvest estimate for 2023/24 to 161.9 million tons. This figure falls short by 2.8 million tons compared to the November forecast but still sets a new record high for the country's soybean production. Despite encountering climatic challenges in Mato Grosso, Brazil's top soybean-producing […]
The Brazilian Foreign Trade Association (AEB) has released its 2024 trade balance forecast in Rio de Janeiro. It projects a slight decline in exports by 0.6%, totaling $334.517 billion, compared to the $336.532 billion estimated for 2023. On the import side, there's an anticipated increase of 0.62%, with imports reaching $241.745 billion in 2024, up […]
Germany's naval prowess advances through the commencement of the F126 frigate program, a pivotal moment in its maritime history. The commencement of steel cutting for the new ships signals this transition. The project, led by the Dutch company Damen Naval in partnership with Germany's NVL, is now in full swing. Arnout Damen, CEO of Damen […]
The United Nations General Assembly recently passed a resolution demanding an immediate humanitarian ceasefire in the Gaza Strip. On Tuesday, December 12, 2023, the resolution gained significant support with 153 votes in favor, against 10, and 23 abstentions. This decisive move highlights the international community’s deep concern about the catastrophic conditions in Gaza and the […]
Argentina is experiencing significant price increases in food items following the end of government subsidies under President Javier Milei’s new administration. This change marks a departure from the policies of former President Alberto Fernández, who implemented the Fair Prices Program. This program had frozen prices in exchange for benefits to producers. Food producers and other […]
The Central General Staff (EMC), a dissident faction of the FARC guerrillas, has made a pivotal decision to end the practice of extortion kidnapping. This commitment is part of the ongoing peace negotiations with the Colombian government, as both parties aim to resolve longstanding conflicts. The EMC’s public decision, jointly signed, marks the first major […]
China’s aviation industry recently achieved a major breakthrough by showcasing its locally manufactured C919 and ARJ21 aircraft in Hong Kong. This historic event marks these aircraft’s first display outside mainland China, symbolizing a key moment in China’s ambitious aviation journey. The C919 and ARJ21 touched down at Hong Kong International Airport on December 12th, receiving […]
(Opinion) Brazil’s decision to increase debt for economic growth, championed by President Luiz Inácio Lula da Silva, presents a risky yet potentially transformative strategy. This approach, diverging from traditional fiscal conservatism, raises critical questions about the sustainability and effectiveness of such economic policies. When comparing Brazil’s debt strategy to its regional counterparts, stark contrasts emerge. […]
In 2023, Brazil witnessed a historic financial moment, with its three major public banks making record-breaking investments. The combined total reached an astounding 56.4 billion reais ($11.35 billion), surpassing the total investments of the previous four years. This remarkable achievement was led by the Banco Nacional de Desarrollo Económico y Social (BNDES), Caixa Económica Federal […]
Argentina, with Economy Minister Luis Caputo’s announcement, initiates a substantial economic reset, paving the way for significant transformations. These aim to address the country’s deepening economic woes. Peso’s Steep Devaluation The government plans to devalue the peso by over 50%, fixing it at 800 per dollar. This move targets Argentina’s severe economic challenges, particularly its […]
Belize, once known for its welcoming policies to International Business Companies (IBC), now faces challenges. The country’s recent law changes, like the Belize Companies (Amendment) Act 2023, raise questions about its commitment to investor trust. For a long time, Belize’s easy tax laws and privacy attracted foreign investors. This approach helped bring in IBCs, building a […]
The International Monetary Fund (IMF) today welcomed Argentina’s first set of economic measures announced by its new government. These measures focus mainly on increasing the exchange rate, cutting state spending, and reducing subsidies. They are part of a fiscal convergence program. Julie Kozack, IMF’s Director of Communications, released a statement on their website. It stated […]
The Central Bank of Paraguay (BCP) predicts a 3.8% growth in the country’s Gross Domestic Product (GDP) for 2024. Carlos Carvallo, the bank’s president, made this announcement today. He explained that this forecast is based on the growth of various economic sectors. This reflects a trend towards diversification developed in recent years. Furthermore, Carvallo announced […]