A couple of days ago, the Argentine government, led by President Javier Milei, proposed a significant legislative change affecting the wine industry. The plan includes an 8% export tax on wines like the renowned Malbec. This move aims to boost government revenues and address economic challenges. The decision to tax wine exports is part of […]
In a new development, Bolivia’s Constitutional Court issued a significant decision, reshaping the nation’s political future. This ruling barred ex-President Evo Morales from contesting the 2025 elections, emphasizing constitutional term limits for the presidency. Morales, president from 2006 to 2019, led with noteworthy successes and faced major challenges. His rule, marked by social reforms and […]
2024 is poised to be a transformative year for luxury hotels in Latin America and the Caribbean. The region anticipates a significant increase in high-end hotel options. This growth signals an optimistic future for the sector. Tourism in Latin America is rebounding, largely thanks to young travelers, including younger Millennials and Generation Z. The recovery […]
In November 2023, Brazil marked a tourism milestone, surpassing pre-pandemic international tourist arrivals. The country welcomed 504,395 foreign visitors, marking a 7% increase from 2019 and achieving the second-highest historical visitor count, just behind 2015's record. Argentine tourists, drawn by major events at Rio's Maracanã Stadium, contributed significantly, says Embratur. They made up 25% of […]
In 2023, with the United States' approval, Honduras initiated the modernization of its air force by upgrading its previously inactive F-5 jets. This move was crucial because Honduras could not buy parts needed for the jets from the U.S. without this approval. Honduras has made it into a global list of the top 100 nations […]
São Paulo Football Club recently partnered with WTorre, the managers of Allianz Parque. They aim to renovate Morumbi Stadium. The plan is to increase its capacity for concerts to 100,000 people. This expansion will also boost football match seating from 80,000 to 85,000. The project completion is set for 2030, marking the club's 100th anniversary. […]
The racing community mourns the loss of Brazilian legend Gil de Ferran, who passed away at 56, with news of his death emerging on Friday. He was driving in Florida when he fell ill suddenly. Despite immediate aid and hospital transport, de Ferran did not survive. De Ferran was a consultant for McLaren’s Formula 1 […]
The Brazilian national team faces uncertainty as Carlo Ancelotti, once expected to coach, renews his contract with Real Madrid until 2026. This leaves Brazil’s coaching future unclear. Vasco da Gama made a significant move by signing 25-year-old defender João Victor from Benfica. His five-year deal is a key addition for Vasco. Meanwhile, Thiago Maia might […]
In 2023, Bitcoin emerged as the leading investment, outperforming others with a significant year-end increase of 153.47%. This surge included an 11.30% rise in December, highlighting the cryptocurrency’s robust growth throughout the year. Following closely, Brazilian Depositary Receipts (BDRs), representing shares of international companies in Brazil, recorded the second-best performance. They saw a 26.33% growth […]
Rio de Janeiro's 2024 New Year's Eve is poised to significantly boost the economy, injecting R$3 billion (around $621 million). This marks a substantial 15% increase from the previous year's R$ 2.6 billion ($538 million). The City Hall's "Réveillon in Data" study highlights this growth, placing the event right behind the famed Carnival in terms […]
Uruguay’s Central Bank (BCU) has lowered the Monetary Policy Rate (MPR) to 9%, a move reflecting the country’s lowest inflation rate since 2005. On Friday, the bank shared this news. Inflation was 4.96% in November. This rate has stayed within the target for six months. Also, core inflation reached 4.20%, near the target’s center. The […]
Venezuela’s military response to a perceived UK threat marks a significant moment in the ongoing Esequibo region dispute. The Venezuelan National Bolivarian Armed Forces (FANB) intensified their military activities following the approach of the British naval vessel HMS Trent near Guyanese waters. This region has been at the heart of a longstanding territorial dispute between […]
As Rio de Janeiro prepares for the 2024 New Year’s Eve celebrations, the city buzzes with anticipation for a range of spectacular events. The Rio Times has compiled a list of the city’s most vibrant events, ensuring everyone can find the perfect way to ring in the new year. The Rio Othon Palace at Copacabana […]
Peru’s Judiciary decided on December 29 to reveal bank details linked to former President Pedro Castillo and two ex-ministers. This action responds to investigations into alleged criminal activities. The Judiciary announced the lifting of banking secrecy on the social network X, marking a significant step in the ongoing probe. Judge Juan Carlos Checkley specified this […]
In the September-November quarter of 2023, Chile experienced a rise in unemployment, reaching 8.7%. This increase, as reported by the National Institute of Statistics (INE), was 0.8 percentage points higher compared to the same period last year. The growth in the labor force outpaced the total number of individuals gaining employment. This imbalance contributed to […]
On Friday, Ecuador’s state-run oil company, Petroecuador, announced ‘force majeure’ in a Yasuní Amazon reserve field. This move follows protests by the Waorani ethnic group, impacting oil production. Starting December 25, the Kawymeno community’s protests led to a significant drop in oil output. Production decreased by about 17,000 barrels per day from the previous Wednesday. […]