Ceitec's resurgence in November 2023 signals Brazil's ambition to lead in Latin America's semiconductor industry. As noted by Ceitec's president, Augusto Gadelha, this goal requires global cooperation. He stresses the importance of technological independence, highlighting the need for support and partnerships, especially from China and the Netherlands. Rebooting Ceitec after a nearly three-year break involves […]
In January, Mexico experienced a 78.3% decrease in the number of kidnappings, marking the most substantial reduction in the past five years. Rosa Icela Rodríguez, the Secretary of Security and Citizen Protection, highlighted this achievement. January 2019 recorded 161 kidnappings, but by January 2024, the number had fallen to 35. Rodríguez praised government actions, highlighting […]
(Analysis) US Secretary of State Antony Blinken's trip to Brazil marks a pivotal moment in the diplomatic interplay between the two nations. This meeting with President Luiz Inácio Lula da Silva unfolds amid escalating tensions within the context of the G-20 foreign ministers' meeting in Rio. These arise from the Israel-Hamas conflict in Gaza, scrutinizing […]
Brazil's Agriculture Ministry opened two markets, allowing fish and specialized stem cell product exports to Australia and Costa Rica. This move shows Brazil's expanding role in global farming trade, pushing its exports beyond usual crops. In 2023, Brazil sold goods worth $272 million to Costa Rica, including cereals and soy. Sales this year have hit […]
ExxonMobil is unwavering in its Guyana exploration and production despite Venezuelan President Nicolás Maduro’s territorial claims. Liam Mallon, President of ExxonMobil Upstream, confirmed the focus on their contracted area in a Bloomberg TV interview. Exxon now yields about 645,000 barrels daily in Guyanese waters, a stark increase from five years ago. Mallon underlined Exxon’s commitment […]
Australia is planning its most significant naval upgrade since World War II, investing an additional $7.2 billion (AU$11.1 billion) in what marks a major expansion of its fleet. Defense Minister Richard Marles announced the initiative to modernize the fleet over the next decade, boosting warship numbers from 11 to 26. The plan involves over AU$54 […]
Investors are recalibrating their views on the Federal Reserve’s strategy as the US economy continues to wobble. Some now ponder whether a rate hike, rather than the anticipated cuts, is on the horizon. Fed Chair Jerome Powell has hinted that rate reductions starting in March are improbable, shifting market expectations away from cuts in the […]
Colombia is advancing a mining bill that would prohibit future coal exploration and production contracts. This measure also opens the door for the government to take over mining assets in specific situations. Colombia is South America’s leading coal producer, playing a pivotal role in the region’s energy sector and contributing significantly to the global coal […]
An international effort is rallying this week to stop Julian Assange’s fast-approaching extradition to the U.S. Two justices from England and Wales’ High Court are set to review Assange’s extradition appeal, authorized in 2022. The outcome may be revealed by this Wednesday. Stella Assange, his wife, has voiced concerns about his declining health, stating, “He […]
After a US holiday, global markets are back with a cautious outlook, partly due to China’s efforts to support its struggling real estate sector. This week’s spotlight includes the US Leading Indicators Index and non-manufacturing activity, plus European construction and car registrations. These will help assess the real economy’s response to current high interest rates. […]
The Central Bank of Paraguay has executed its seventh rate cut since August, aiming to boost economic momentum while keeping inflation in check. This Monday, the rate was adjusted down to 6.25% from 6.5%, continuing the trend from a peak rate of 8.5%. This series of cuts responds to an economic landscape transformed by the […]
The Brazilian government has banned new exclusive pension funds, targeting tax loopholes favored by the rich. This action aims to halt tax avoidance strategies that leverage financial system gaps. Issued on February 19 by the National Council of Private Insurance (CNPS), the mandate requires detailed regulations from the Superintendence of Private Insurance (Susep). Effective immediately, […]
Israel’s economy shrank by 19.4% in the last quarter of 2023, a significant downturn triggered by military actions against Hamas. The conflict led to evacuations and the mobilization of thousands of reservists, causing widespread business disruptions. Analysts had predicted a 10.5% decline, making the actual contraction far worse than expected. The Israeli shekel fell by […]
Brazil's economic outlook is clouded by worsening public finances, raising questions about future growth. Alessandra Ribeiro from Tendências Consultancy warns local media that challenges in raising revenue against rising spending may shift fiscal targets beyond 2024, heightening economic uncertainty. Following a 2022 surplus, Brazil recorded a R$230.5 billion primary deficit in 2023, one of its […]
Ecuador's Gabriela Sommerfeld announced on February 19th that the country will not send Russian military equipment to the U.S. This was affirmed during a National Assembly session. Sommerfeld and Defense Minister Gian Carlo Loffredo emphasized Ecuador's commitment to peace and international law. They stated, "Ecuador avoids sending arms to conflict zones." Russian Ambassador Vladímir Sprinchán […]
In 2023, Spain’s trade gap fell by over 40% from the previous year, thanks to reduced energy imports, especially gas. The Ministry of Economy, Trade, and Company shared this news on Monday. Exports approached €383.7 billion ($413 billion) in 2023, a slight 1.4% dip from 2022’s record high. Imports decreased to €424 billion ($456 billion), […]
Argentina’s economic chief, Luis Caputo, expressed optimism about soon reducing monthly inflation to single digits. By mid-2024, he also looks to remove limits on currency use if finances keep getting better. In talks with “La Nación +” TV, Caputo saw February’s price rises dropping sharply from January’s 20.6%. He credits tight spending and money policies […]
Following the elections on February 4, the New Ideas Party has secured a significant portion of the seats in El Salvador’s Legislative Assembly. The Supreme Electoral Tribunal confirmed they won 54 of 60 seats. This marks a big change for the country. The Tribunal shared these results after counting votes for a week. This win […]
Haiti’s judiciary has marked a significant milestone by implicating approximately fifty individuals in the assassination of the country’s leader. In July 2021, Haiti’s President Jovenel Moïse was assassinated, marking a critical juncture in the nation’s tumultuous political history. This group includes the leader’s widow and a past government head. The investigation reveals a complex web […]
The Ibovespa (IBOV) faced a day without the backing of Wall Street, due to the US Presidents’ Day holiday, yet managed a modest gain. Despite Vale’s (VALE3) decline amid falling iron ore prices in Asia, the index ended up 0.14% at 128,903.14 points. Brazil’s Economic Activity Index (IBC-Br), a GDP precursor, surpassed expectations with a […]
On February 19, European stock markets displayed mixed outcomes, halting a three-day gain streak. The day’s trading was notably quiet, affected by a U.S. holiday and a lack of impactful news. The spotlight was on London’s FTSE 100, which edged up by 0.22% to 7,728.50 points, thanks significantly to AstraZeneca’s shares, which soared by 3.21%. […]
Russia's wheat market is set to redefine global trends thanks to exceptionally favorable winter conditions promising a historic yield. Market specialists have upgraded their forecasts, with SovEcon and IKAR predicting the 2024 wheat crop to surpass 93 million metric tons (Mmt), a testament to the potential for a record harvest. Despite the surplus forecast, Russia's […]
On a day characterized by subdued trading due to the US President’s Day holiday, the US dollar recorded a minor retreat against the Brazilian real. The trading session, devoid of substantial market stimuli and marked by mixed international signals for the US currency, concluded with nominal changes. Closing at 4.9621 reals, the spot dollar witnessed […]
Brazil's economic stature as the powerhouse of Latin America in 2023 is firmly established by the International Monetary Fund (IMF), outpacing Mexico and Argentina. The IMF's World Economic Outlook forecasts Brazil's GDP at an impressive $2.13 trillion, significantly ahead of Mexico's $1.81 trillion and Argentina's $621.83 billion. The Global Financial Stability Report adds context, highlighting […]
In 2024, foreign investors withdrew R$15 billion ($3 billion) from Brazil's B3 stock market, marking a significant reversal from previous inflows. The outflow commenced in January, with nearly R$8 billion ($1.6 billion) leaving the market, and persisted into February, with an additional R$6.89 billion ($1.378 billion) withdrawn by mid-month. Analysts suggest capital moved to US […]