Since 2023, Ethiopia has been grappling with a substantial increase in the price of teff, its staple cereal. Teff is a tiny, gluten-free grain, known for its high nutritional value and use in traditional dishes like injera. Prices in major cities like Addis Ababa have soared, with a quintal of teff reaching over 7,000 birr […]
2023 Brazil's trade balance hit a record high, with a $98.8 billion surplus, marking a 60.6% increase from 2022's $61.5 billion. The Ministry of Development, Industry, Commerce, and Services' (MDIC) Secretariat of Foreign Trade announced these figures on January 5, 2024. December contributed notably to this annual result with a $9.4 billion surplus. This monthly […]
In 2023, Kenya harnessed abundant geothermal energy from the Rift Valley’s hot water vapors, positioning itself as a renewable energy leader. The country aims to compete globally in non-carbon energy resources, offering expertise valuable to other African nations. About 100 kilometers from Nairobi, the Naivasha Industrial Park, to be completed by 2025, will feature businesses […]
In the last quarter of 2023, Standard Bank's Purchasing Managers' Index (PMI) reported a decline in Mozambique's private sector economic activity. The PMI is a key indicator of economic health. Scores above 50.0 indicate business improvement, while below 50.0 suggest decline. In December, the PMI fell to 48.4, indicating a contraction for the second consecutive […]
In 2024, under President Javier Milei, Argentina plans to modernize its seed technology rules as part of broader economic reforms. The goal is to make Argentina's agriculture more competitive, especially against Brazil and the U.S. A law from the 1970s protects farmers from paying annual fees to seed companies. As a result, Argentina's agriculture has […]
In 2023, under President Luiz Inácio Lula da Silva, Brazil saw a significant decrease in Amazon deforestation. The lost forest area was 5,152 square kilometers, almost half of the 10,278 square kilometers lost in 2022. This 50% decrease was reported by the Brazilian National Institute for Space Research (Inpe) on January 5, 2024. The Deter […]
In the latest development, Brazil's industrial production increased by 0.5% in November compared to October. The Brazilian stags agency IBGE released these findings on January 5, 2024. Their full report is in a PDF that you can download here. This growth is the fourth consecutive monthly increase. Over the year, the industry saw a slight […]
On Friday, against global trends, the Brazilian Stock Index (Ibovespa) climbed, buoyed by a profitable day for commodities like oil. As a result, Ibovespa reversed earlier losses and started to gain. By 11 a.m. in Brasília, the index had risen by 0.25% to 131,547 points. Petrobras shares, specifically PETR3 and PETR4, gained 1.32% and 0.96%. […]
In 2023, Asia faced significant inflation, largely driven by rising rice prices, a staple in the region. The Philippines and India experienced food prices contributing up to 70% of their overall inflation. Extreme weather and export bans led to a 15-year high in rice prices, stoking fears of a repeat of the late 2000s food […]
In 2023, Brazil's public sector, including all government levels and state firms, recorded a notable primary deficit. From January to November, the deficit reached R$ 119.6 billion (approximately $24 billion), marking the second-largest in history. This deficit was surpassed only by that of 2020, a year heavily impacted by the COVID-19 pandemic, which compelled increased […]
As IMF officials visit Buenos Aires, Argentina, led by libertarian President Javier Milei, is nearing a pivotal deal for new funding. This deal is crucial for addressing Argentina’s high inflation and deep fiscal deficit. Milei’s approach includes significant spending cuts, but his administration recently encountered a legal hurdle regarding labor rights reforms. The IMF’s visit, […]
In a new development, OpenAI is on the brink of transforming the AI landscape with its imminent GPT Store launch. This platform signifies a notable shift towards AI monetization, allowing developers to create and sell applications utilizing OpenAI's advanced text-generating models like GPT-4. The GPT Store's unveiling, initially set at OpenAI’s inaugural developer conference, was […]
In 2024, the global average gasoline price is set at $1.30 per liter, equivalent to $4.90 per gallon, as announced by Global Petrol Prices. Different tax, subsidy policies, international oil prices, refining costs, and transportation significantly shape varying fuel prices. The trend generally shows wealthier countries having higher gasoline prices, while poorer and oil-producing countries […]
U.S. Secretary of State Antony Blinken’s diplomatic mission to the Middle East comes during a period of heightened regional tensions and conflicts. The U.S. aims to prevent the escalation of Israel’s offensive in Gaza into a broader conflict. Politico reports the White House is drafting strategies for a prolonged, multi-front war against Iran-backed forces. Plans […]
This Friday morning, New York's future indices are declining after the ADP report revealed an unexpected rise in private-sector jobs. The market is now focused on the upcoming U.S. payroll data. These figures will shed more light on the labor market's condition and, by extension, the U.S. economy. In Brazil, the IGP-DI index, expected to […]
In response to threats in the Red Sea, 18 shipping companies have rerouted their vessels via South Africa. This strategic change avoids Yemen’s conflict zone, where Houthi rebels have attacked cargo ships. Arsenio Domínguez, Secretary-General of the International Maritime Organization (IMO), reported this at a UN Security Council meeting. He emphasized the disruption these attacks […]
On December 28, 2023, Turkey's Anka-3 drone, a major advance in unmanned combat air vehicle (UCAV) technology, successfully completed its first flight. This achievement signifies a major step for Turkey's defense aerospace sector. Developed by Turkish Aerospace Industries (TAI), the Anka-3 is a domestically-produced flying wing UCAV with a reduced signature. In its initial test […]
PwC’s report suggests the metaverse, a key trend in 2022, will continue to grow, predicting significant future revenue. PwC is a global network of firms delivering assurance, advisory, and tax services, known for its business and financial consulting expertise. In 2023, artificial intelligence overshadowed the metaverse in technology trends. However, the metaverse’s expansion is still […]
Once bullish on the dollar, Morgan Stanley has revised its forecast to adopt a neutral stance on the U.S. currency. This change follows a decrease in Treasury yields and the Federal Reserve's shift to a more dovish position. Originally, Morgan Stanley predicted a stronger dollar. Since mid-November, they expected an 8% rise in the Dollar […]
On January 3, 2024, the Islamic State claimed responsibility for two bombings in Kerman, Iran, which killed 84 and injured 284 people. The bombings occurred during a procession. This event was to honor General Qassem Soleimani. He was an Iranian general killed in 2020 by a U.S. drone strike. The Islamic State detailed the attack […]
The U.S. government’s recent accumulation of about $8.3 billion in Bitcoin has raised concerns in the investment world. This amount, equivalent to over R$40 billion, reflects the cryptocurrency’s recent value increase. The U.S. now possesses a substantial amount of Bitcoin, seized over the years. The size of this holding worries investors about its potential market […]
In 2024, Mexico’s economy faces substantial inflation challenges, as acknowledged by the Bank of Mexico in its recent policy meeting. The bank points out an upward trend in risks within the inflation outlook. Despite some progress in reducing inflation, core inflation remains stubbornly high. This situation poses a considerable risk. Banxico commits to a vigilant […]
In 2024, Chile’s economy begins with increased optimism, as noted by Rosanna Costa, President of the Central Bank of Chile. Her views were shared in the Chilean media last Thursday. Costa spoke after Wednesday’s workshops by the Association of Economic and Finance Journalists. She noted significant progress in curbing inflation. Costa also mentioned that the […]
In 2023, Brazil's currency exchange surplus soared to $11.431 billion, marking the highest peak in over a decade, according to the Central Bank. Compared to 2012, the surplus increased, indicating economic growth. Until mid-December, the surplus continued to climb, reaching $21.822 billion. However, December saw a shift. A negative flow of $13.057 billion emerged, mainly […]
In 2023, Paraguay's pork exports saw a big leap, growing by 172.8% from the previous year. This information comes from a recent report by the National Service of Animal Health and Quality (SENACSA). The report shows a sharp rise in pork shipments. From January to December 2023, Paraguay exported 7,689 tons of pork. This is […]