Vale reported a $2.4 billion net profit for Q4 2023, down 35% from the previous year, per their latest financial report. This decline was notably influenced by a $1.2 billion provision related to the Samarco dam failure and potential global settlements with Brazilian authorities. For the . . . To read the full NEWS and […]
Container shipping saw a record rise in costs, up $500 in late December. This spike occurred amid disruptions on crucial sea paths, notably the Panama Canal. The United Nations Conference on Trade and Development (UNCTAD) reported these changes. Attacks in the Red Sea and a drought in the Panama Canal led to lower traffic. This […]
At the start of 2024, Mexico experienced its lowest oil production in twelve months, with the National Hydrocarbons Commission reporting a daily output of 1.88 million barrels. This represents the lowest level since December 2022, showing a slight monthly decrease of 1.15% and a yearly fall of 2.6%. Petróleos Mexicanos (Pemex), the state-controlled entity, was […]
Brazil’s beach soccer team advances to the FIFA Beach Soccer World Cup UAE 2024 semifinals, defeating Japan 8-4. This victory marks a significant comeback for Brazil, as they had not reached this stage in the last two editions of the tournament. The Brazilian team, lauded for its dynamic play, awaits the winner of Iran vs. […]
Peru's Defense Ministry, led by Major General Walter Astudillo Chávez, inaugurated a modern data center at Cenepred. This center, powered by Huawei technology, aims to boost Peru's disaster response by improving data management for emergencies and natural disasters. At the launch, marking Cenepred's 13th anniversary, Astudillo emphasized the center's role in enhancing disaster risk management […]
Guatemala faces a serious health crisis with an outbreak of Guillain-Barré syndrome (GBS). This condition has immobilized 63-year-old William Chávez and 71 others. The Health Ministry reports around 100 cases, approaching a significant portion of the usual yearly figures. The outbreak is mainly in Suchitepéquez, Retalhuleu, and Sololá. In response, Suchitepéquez paused school for 20 […]
In 2023, Brazil remained the top global exporter of processed foods, delivering 72.1 million tons, up 11.4% from the previous year. This made it the leader for the second year, surpassing the U.S., which exported 54.9 million tons. The main buyers were China, 22 Arab League nations, and the EU, focusing on sugar, animal proteins, […]
For more than ten years, Egypt, Nigeria, and South Africa have been rivals for the title of Africa’s biggest economy. Nigeria overtook South Africa in 2012, growing steadily, as reported by the World Bank. However, South Africa’s growth has slowed. Egypt briefly led in 2022, but by 2024, South Africa is expected to lead with […]
On February 22, the rice and lowland grain harvest kick-off in Capão do Leão, RS, highlighted food security, drawing attention from officials, farmers, and industry groups. The Breno Prates farm showcased both rice and, for the first time, soybean harvests, emphasizing agricultural diversity. Alexandre Velho of the Rio Grande do Sul Rice Growers Association pointed […]
In 2023, Paraná achieved the highest proportional economic growth in Brazil, with a 7.8% increase compared to 2022, significantly outpacing the national average of 2.45%. This data is from the Regional Economic Activity Index (IBCR), released by the Central Bank on Thursday, February 22, and gathered by the Paranaense Institute of Economic and Social Development […]
Nestled among white sand dunes that give rise to freshwater lagoons, Brazil's Lençóis Maranhenses National Park tops the list for many travelers. This park is the largest dune field in South America and is increasingly equipped to welcome visitors. Barreirinhas and Atins are the closest cities for visitors, but Santo Amaro offers an even more […]
Brazilian President Luiz Inácio Lula da Silva hosted Russian Foreign Minister Sergey Lavrov in Brasilia at the Palacio de la Alvorada. The meeting, happening Thursday and initiated by Lavrov, coincided with his attendance at the G20 foreign ministers' gathering, the presidential office reported. Lavrov engaged in talks with Lula on mutual interests, G20 topics, and […]
In 2023, Argentina’s economy shrank by 1.6%, with a notable 4.5% drop in December alone, reports the National Institute of Statistics and Censuses (INDEC). The decline spanned various sectors. Financial services saw the sharpest fall at 12.2%, while manufacturing and utilities each dropped by 11.9%. Taxes on subsidies fell by 10.1%, trade by 8.5%, and […]
In the Recopa Sudamericana at Rodrigo Paz Delgado Stadium, Fluminense, with a standout Thiago Santos, faced attacking challenges against LDU due to altitude. Some players made crucial saves and clearances, significantly aiding the defense. Others struggled with ball handling but succeeded in tackles and air battles, improving as the game progressed. A few substitutes brought […]
The Central Bank of Uruguay (BCU) has decided to keep the Monetary Policy Rate (MPR) at 9% to ensure inflation remains within the 3-6% target range. The decision supports efforts to center inflation expectations at the target midpoint over two years, the BCU notes. January saw annual inflation at 5.09%, nearly three points below last […]
Judge Baloísa Marquínez ordered the detention of Ricardo Martinelli, Panama’s former leader from 2009 to 2014, tied to a 128-month sentence for laundering money. This case, known as “New Business,” involved four others, Panama’s Supreme Court of Justice reports. The decision responds to a request from Emeldo Márquez Pittí, the Special Prosecutor for Organized Crime, […]
Jair Bolsonaro, Brazil's leader from 2019 to 2022, chose silence during a Federal Police questioning on Thursday. He did not testify because he lacked full case file access. This case ties him to an alleged coup to keep his job. His lawyer, Paulo Amador da Cunha Bueno, called the case semi-secret. Fabio Wajngarten, Bolsonaro's advisor, […]
In 2023, the Panama Canal’s revenue increased by 14.9% to $4.968 billion despite handling less cargo, with only 511.1 million PC/UMS tons moved. Officials shared this news on Thursday. The canal faces water shortages due to climate change. Still, it expects to make 2.7% more in 2024. The Panama Canal Authority (ACP) shared these details […]
Hilton has marked an extraordinary year of expansion across Latin America and the Caribbean, reaching 29 countries and territories. The hotel chain has identified Argentina, Mexico, Peru, and the Dominican Republic as the top growth areas in 2023. Celebrating significant milestones, Hilton opened 19 new hotels, adding around 4,000 rooms—the largest regional expansion in its […]
First Quantum Minerals unveiled capital restructuring plans on Wednesday to bolster its finances and slash debt, striving to meet its operational aims. The company’s market value plummeted by over half after Panama unexpectedly ordered the Cobre Panama copper mine to shut down last November. This mine, among the globe’s largest, is crucial for First Quantum, […]
Latin America boasts over 40 million cryptocurrency users, with Argentina at the forefront. This nation accounts for 40% of the region’s new crypto app users. The drive behind this surge is the Argentine peso’s rapid devaluation and the quest to combat high inflation. A 2023 report by Lemon, an Argentine exchange, reveals that 80% of […]
MercadoLibre, the Latin American giant in e-commerce and fintech led by Argentine entrepreneur Marcos Galperin, reported its most successful annual results to date. The company outdid analyst forecasts by posting a net profit of $383 million in the last quarter, topping expectations by over 130% from the previous year. The annual net profit reached $1.2 […]
During a recent G20 meeting, Brazil’s Foreign Minister Mauro Vieira disclosed a consensus among leading economies on revamping global governance. The focus lies on reforming the United Nations Security Council. This council, with permanent members including Russia, the United States, China, France, and the United Kingdom, has not changed since the UN’s foundation. Brazil and […]
In the final three months of 2023, Angola’s jobless rate climbed to 31.9%, marking a 2.2% increase. A striking 80.5% of the workforce is in informal employment, according to recent statistics from Angola’s National Institute of Statistics (INE). The INE highlights the significant presence of informal jobs in Angola, where 88.5% of employed women and […]
Oil prices have risen sharply due to escalating tensions in the Middle East. The conflict between Israel and Hamas and growing Red Sea hostilities have significantly impacted the market. Brent crude and West Texas Intermediate both experienced notable gains, with Brent increasing by $0.64 to $83.67 a barrel and West Texas Intermediate by $0.70 to […]