Bitcoin's rise in late 2023, reaching its highest yearly prices, was fueled by market optimism. This optimism centered around the potential approval of spot-price ETFs in the United States. However, 2024 may see Bitcoin's value increase without relying on these ETFs. Markus Tielen, head of research at Matrixport, shared his insights in a recent report. […]
On Friday, Fitch Ratings reaffirmed Brazil's BB credit rating, sustaining a stable outlook, building on an earlier upgrade bestowed in July. Fitch acknowledges the Brazilian government's pragmatic approach under President Luiz Inácio Lula da Silva. The administration has focused on revenue-enhancing measures and increased state investments. However, it has avoided major shifts in the monetary […]
In a recent development, the State Grid Corporation of China achieved a significant milestone in Brazil's energy sector. They marked their strategic presence by winning the largest lot in the energy transmission auction. The auction, organized by ANEEL and the Ministry of Mines and Energy, highlighted Brazil's focus on energy expansion. State Grid secured Lot […]
In 2023, Nigeria witnessed a notable transformation in its business landscape as numerous multinational corporations opted to scale down their operations or exit the country altogether. A range of economic challenges drove this trend. For instance, Procter & Gamble (P&G) and Unilever shifted to import-only models. They faced difficulties with the local currency and repatriating […]
On Friday, Mozambique took a significant step by establishing the Mozambique Sovereign Fund (FSM). Fueled by natural gas revenues, the fund marks a crucial development in utilizing the nation's gas resources. The FSM is projected to generate substantial income, with estimates suggesting gas exports could yield around $91.7 billion throughout the project. By the 2040s, […]
In 2023, the global news media landscape saw a major shift. Globo, a Brazilian media powerhouse, clinched the top spot in news rankings. This was a change from the previous year, where Globo and BBC were equally popular. Cloudflare's report highlights these trends in its "2023 Year in Review." The report showed that Globo consistently […]
Social media, including Facebook and X (formerly Twitter), has significantly reduced the referral traffic to external websites in recent years. This change is global. Even Japan is seeing it. More people are staying on social media rather than clicking on links to other sites. Reports from Similarweb, Axios, and Nikkei show this clear drop. Since […]
Several leading Latin American media companies from the Pacific Coast have joined forces to create 3E Media Latam in Lima, Peru. This coalition brings together Semana Económica, Seminarium, América Economía, and Revista C., making 3E Media Latam a key regional player. The group aims to reach a broad audience, including entrepreneurs, executives, and decision-makers across […]
On Thursday, the Canadian government approved the start of trade negotiations with Ecuador. This decision reflects a shared goal of deeper economic and trade integration. Set to commence in March 2024, these talks are a key step for both nations. Canada is a major market for Ecuador, especially for its non-oil exports. The Ecuadorian government […]
On Wednesday, Bolivia forged a significant partnership with Russia’s Uranium One Group. They agreed to build a semi-industrial direct lithium extraction (DLE) plant in Colcha, Potosi. The $450 million project represents a major stride in Bolivia’s industrial growth. President Luis Arce announced this historic development on social media, underscoring its importance for the country. Karla […]
In 2023, Latin American Venezuela and Argentina are among the countries with the highest inflation worldwide. They join Lebanon in this ranking. The rest of Latin America, except Cuba, shows lower inflation rates. This situation follows the monetary imbalances caused by the pandemic. Colombia is the only other country in the region with double-digit inflation. […]
The Federal Reserve's recent hint at ending the US interest rate hikes has stirred excitement in financial markets. This development also suggested a possible rate reduction in 2024. Following this news, Brazil's Ibovespa, a major stock index, hit a record high. Despite this surge, Caesar Maasry from Goldman Sachs urges caution for those investing in […]
Brazil's economy is undergoing a transformation, as major cities wield less dominance in its GDP, a shift highlighted in a recent study by the Brazilian stats agency IBGE. Previously, a few cities like São Paulo and Rio de Janeiro had a big share of the national wealth. The wealth is now spread more among many […]
Brazil is set to harvest over 55 million coffee bags in 2023, marking an 8% increase from 2022. The latest estimate from Conab, Brazil's agricultural agency, reveals a positive trend in coffee production. This growth is mainly attributed to a surge in the Arabica variety, which is expected to witness a 6.8% increase, constituting 70.6% […]
HMS Forth, a crucial patrol vessel of the British Royal Navy, has returned to the Falkland Islands after substantial maintenance in Gibraltar. This maintenance included updates to its hull, engines, and communication systems, enhancing its operational readiness. The upgrades also improved crew living conditions, reflecting the UK's commitment to their well-being. While HMS Forth was […]
In October, the Eurozone marked a turning point with a trade surplus of €11.1 billion, a significant improvement from the €28.7 billion deficit in 2022. Eurozone exports dipped to €246.9 billion, a 2.4% decline, while imports plummeted 16.3% to €235.8 billion. Trade among Eurozone partners shrank to €221.1 billion, an 8.8% drop compared to October […]
In Mexico, President López Obrador inaugurated the Tren Maya, promising prosperity but facing accusations of environmental harm. Operating between Campeche and Cancún, this marks the initial leg of a broader project spanning the Yucatán Peninsula. Initiated five years ago and amid upcoming elections, the project, initially budgeted at $8.7 billion, experienced delays and modifications, with […]
In 2023, the world witnessed a record-breaking 8,530 million tons of carbon burned, surpassing the 2022 record despite COP28 commitments. The European Copernicus Observatory had earlier warned that 2023 was likely to surpass 2016 as the warmest year. Carbon combustion, crucial for energy and industry, significantly contributes to rising CO2 emissions globally. While some scientists […]
In 2023, Latin America and the Caribbean experienced a significant boost in air passenger traffic. The Latin American and Caribbean Air Transport Association (ALTA) reported that 371.8 million passengers traveled within, to, and from the region from January to October. This figure shows a 14.3% increase compared to 2022 and a 3.4% rise over 2019. […]
Brazil is set to end 2023 with a significant influx of 6 million foreign tourists, potentially achieving a record tourism revenue of 34 billion reais ($6.93 billion). This optimistic forecast, announced by the Brazilian government, marks a considerable increase compared to the previous year. In the prior year, Brazil welcomed 3.6 million international tourists, generating […]
Venezuelan President Nicolás Maduro announced a significant agreement reached with Guyana regarding their territorial dispute. This agreement, shared via social media, was reached during a high-level dialogue in Saint Vincent and the Grenadines. Both countries agreed to avoid threats or use of force and to resolve any disputes in accordance with international law, including the […]
Cape Verde's President, José Maria Neves, celebrated their selection for a U.S. economic agreement as a major victory. This agreement is part of U.S. aid aimed at fostering growth and regional economic integration. Neves emphasized that this selection is a triumph for every Cape Verdean, notably for the government. He expressed that this selection demonstrates […]
The Economic Commission for Latin America and the Caribbean (CEPAL) has revised its 2023 growth forecast for the region to 2.2%, up from 1.7%. This modest increase points to persistent economic challenges beyond the pandemic's impact. Amid global economic slowdown and inflation control, no significant changes in monetary policies are expected from key central banks. […]
In Brazil, the Ibovespa index on the B3 exchange surged, crossing 130,000 points in early trading on Thursday. This increase of 1.04% to 130,810 points around 10:43 AM Brasília time was largely due to expectations of reduced interest rates in Brazil and the U.S. Meanwhile, the dollar traded lower at R$ 4.89, marking a 0.56% […]
Saudi Aramco, the global leader in oil and one of the world's most valuable companies, is partnering with Japan's SBI Holdings to explore cryptocurrency investment. This partnership indicates a shift in Aramco's strategy towards digital assets. SBI Holdings, part of the SBI Group, focuses on financial services, asset management, biotechnology, and IT, emphasizing digital assets. […]