The diamond industry is showing signs of recovery in 2023 following a period of slowed growth and challenges. The global diamond market is expected to grow from $2.43 billion in 2022 to $2.55 billion in 2023, with a compound annual growth rate (CAGR) of 5.2%. This growth is partly driven by rising disposable income in […]
Brazil's Ibovespa index, a key stock market indicator, saw an increase, fueled by major companies like Petrobras and Vale. By 1 PM Brasília time, the Ibovespa had climbed by 0.57%. It reached 131,833 points. Meanwhile, the US dollar fell. It traded at R$ 4.87. This marked a 0.73% drop. Investors paid attention to the Monetary […]
In recent times, wealthy Latin American investors have been rapidly transferring their assets to Miami, marking one of history’s fastest wealth migrations. This movement is primarily driven by regional instability and the appeal of higher returns in Miami compared to their home countries. Major banking institutions like JPMorgan Chase & Co. and leading Brazilian banks […]
In 2023, Latin America and the Caribbean anticipate a significant increase in remittances, reaching an all-time high of $155.908 billion. This marks a 9.5% rise from the previous year. The region's dependency on these funds varies, highlighting economic disparities. Central American countries expect remittances to form 12.7% of their GDP in 2023. South America, in […]
Nicaragua recently made a bold move by ordering the International Committee of the Red Cross (ICRC) to leave. This action is part of President Daniel Ortega’s broader strategy. Since 2018, his government has been firmly quelling dissent. High-profile cases include jailing a religious leader and intimidating a beauty queen. The United Nations has raised concerns […]
The United States has spearheaded the creation of a 10-nation coalition to safeguard the Red Sea. This initiative aims to counter the Houthi rebels’ missile and drone attacks on shipping vessels. Nations like Britain, France, Bahrain, and Italy are part of this task force. Their joint goal is to protect the crucial maritime route from […]
The recent 6.2-magnitude earthquake in Gansu province, China, struck at midnight, causing catastrophic widespread devastation. Centered in Jishishan County, it resulted in over a hundred fatalities and hundreds of injuries. This disaster is now considered China’s deadliest earthquake since the one in Ludian in 2014. Jishishan, where the quake hit hardest, is a mountainous and […]
Brazil's Central Bank BC observes a rise in household spending, driven by enhanced social programs and a growing job market. These factors have increased family incomes. The BC highlights the importance of sticking to fiscal goals for future growth. On December 19, 2023, the BC released the minutes of the Monetary Policy Committee's (Copom) meeting. […]
In the year 2023, Brazil found itself grappling with increasingly complex issues posed by organized crime, which strained its ability to mount an effective response. The PCC and CV, notorious criminal groups, significantly contributed to this menacing rise, even within prisons. Recent reports shed light on a disconcerting reality that Brazil was still struggling to […]
In 2023, the International Monetary Fund IMF ranks Brazil as the ninth-largest global economy, with a GDP of $2.13 trillion. This achievement positions Brazil slightly ahead of Canada, with its $2.12 trillion GDP, and just behind Italy, which boasts a $2.19 trillion GDP. With this status, the country ranks as the second-largest economic power in […]
In response to escalating tensions in South America, Brazil has advanced its deployment of troops and equipment to the northern border. Originally planned for 2025, this acceleration directly results from the current Venezuelan government's actions. Brazil dispatched an initial batch of Siatt MSS 1.2 AC anti-tank missiles to bolster its mechanized cavalry in Roraima. These […]
Egyptian President Abdel Fattah el-Sisi won re-election for a third six-year term on Monday, December 18, 2023. He secured 89.6% of the votes in the election from December 10 to 12, as confirmed by the Egyptian Electoral Authority SIS. Sisi faced three challengers in the race. Hazem Omar, leader of the Republican Popular Party, finished […]
The Central Bank of the Republic of Argentina (BCRA) has lowered its benchmark interest rate from 133% to 100%. Announced on Monday, this move marks a significant shift in the country’s monetary policy. The BCRA aims to simplify and clarify its approach to managing the economy. In addition to this rate cut, the BCRA changed […]
Ecuador’s President, Daniel Noboa, has taken a clear stand against negotiating with criminals amid the country’s escalating violence. On Monday, he asserted this position, linking the surge in violence to drug-related criminal gangs. Noboa made this declaration during a military event in Quito. Since his inauguration on November 23, Noboa has identified violence as Ecuador’s […]
On Monday, the Argentine government expressed its commitment to finalizing a trade agreement between Mercosur and the European Union (EU). This deal, in discussion for thirty years, aims to enhance trade between the two regions. Argentinian Foreign Minister Diana Mondino spoke about this after meeting a European Parliament delegation in Buenos Aires. She outlined Argentina’s […]
Brazil, under its G20 presidency, aims to facilitate access to $11 billion in climate funds, as announced by Talita Rosito. Rosito serves as Brazil's G20 Finance Coordinator and the Secretary of International Affairs at the Ministry of Finance. During a recent G20 meeting in Brasilia, the Brazilian government proposed this plan. It involves easing bureaucratic […]
In Paraguay's major penitentiary, Tacumbú, a joint police and military operation caused 12 deaths. This national prison saw an intense intervention named "Veneratio". The operation aimed to regain control from the Rotela Clan, a dominant criminal group. The Paraguayan National Police, along with Military Forces, led this effort. They focused on restoring order in the […]
Brazil now stands as the top country in the Global South for climate-related lawsuits. This finding comes from a study by the JUMA research group at the Pontifical Catholic University of Rio de Janeiro. Their report shows an increase in such cases in Brazil. In 2018, there were 14 cases. By early this year, the […]
Venezuela’s PDVSA and Spain’s Repsol have teamed up, aiming to boost Venezuela’s oil sector. Their joint venture, Petroquiriquire, represents a significant commitment to mutual development. Rafael Tellechea, Venezuela’s Oil Minister and President of PDVSA, led the agreement signing in Caracas with Repsol’s representatives. Francisco José Gea, Manager of Repsol Exploration, emphasized the partnership’s role in […]