Today, gold reached a record $2,290 per ounce, driven by global uncertainties, anticipated U.S. rate cuts, and notable actions by central banks, especially China’s. The resilience of gold prices, as observed by Bank of America (BofA), stands out against a backdrop of tight monetary policies. The sustained demand in specific sectors underscores gold’s enduring appeal. […]
In March 2024, Brazil's vehicle market saw a 5.6% sales drop from the previous year to 187,700 units, including passenger and commercial vehicles. Despite this decline, there was a notable recovery from February to March, with sales jumping by 13.6%, as reported by Fenabrave, the body representing dealerships. The broader picture for the first quarter […]
The prestigious Inanda Country Club in Johannesburg, served as a vivid snapshot of wealth recently, with polo players effortlessly leading their horses. This luxury scene mirrors findings from the Africa Wealth Report by Henley & Partners and New World Wealth, revealing the continent’s affluent dynamics. This comprehensive report delves into Africa’s private wealth, tracking trends among […]
In a groundbreaking move, Brazil's Amnesty Commission has approved the first-ever collective reparation for indigenous communities affected by the military dictatorship from 1964 to 1985. This decision reflects a significant shift towards acknowledging the military's severe violations against the Krenak and Guarani-Kaiowá groups in Minas Gerais and Mato Grosso do Sul. Members of the commission […]
São Paulo, the economic powerhouse of Brazil, weaves a captivating tapestry of rich history, diverse culture, and vibrant modernity. The state, named after the city of São Paulo, the largest in the southern hemisphere, holds a prominent position both nationally and internationally, offering a wealth of experiences that attract tourists from every corner of the […]
Economic historian Javier Rodríguez Weber considers presidential salaries as key indicators that highlight income disparities within countries. According to Bloomberg, Costa Rica boasts the highest minimum wage in the region at $710, followed by Uruguay at $580, Chile at $520, Mexico at $445, and Guatemala at $420. Applying Rodríguez Weber's comparative indicator shows that Guatemala's […]
Brazil’s Central Bank faces mounting pressure to adjust the Selic rate upwards, as economists point to insufficient current rate projections to meet the inflation target. Recent forecasts suggest a 9% rate by year-end and 8.5% by next year may not steer inflation back to the 3% goal. Following the Quarterly Inflation Report, which predicted a […]
Brazil's industrial output dipped by 0.3% in February, following a decline the previous month, as reported by the IBGE on April 3, 2024. This downturn was felt across 10 of 25 sectors, with pharmaceuticals, printing, chemicals, and extractive industries experiencing the most significant drops. However, the narrative wasn't all negative, as 13 sectors witnessed growth. […]
Globally, the approach to retirement is evolving rapidly, driven by economic changes, demographic shifts, and new expectations. In the U.S., a Northwestern Mutual study has set the retirement goal at $1.5 million, a stark contrast to the average savings of $88,400. This gap underscores the challenge of planning for extended lifespans amid rising costs and […]
South Korea’s groundbreaking move to join Horizon Europe establishes a new milestone in international scientific cooperation. This marks the nation as the first from East Asia to engage in this substantial European research endeavor, pioneering a novel pathway for global innovation partnerships. South Korea invests heavily in research and development, securing its position as a […]
The outcome of Turkey’s local elections has unexpectedly put President Recep Tayyip Erdogan and his ruling AKP on notice. CHP’s triumph in securing major cities, including Istanbul and Ankara, hints at a challenging path for Erdogan before 2028. High inflation, around 70%, fuels economic dissatisfaction, pivotal in shaping voter behavior amid frustration with government handling. […]
At the International Air and Space Fair (Fidae), Saab, the Swedish defense giant, will unveil its latest air defense, surveillance, and combat technologies. The company aims to broaden market presence by presenting innovative solutions to potential clients and partners at the event. The company plans to showcase the Mshorad, a mobile short-range air defense system […]
In the 19th century, Haiti embarked on a debt journey that casts a long shadow over its economic development today. Initially saddled with a massive indemnity to France for its independence, the debt’s repercussions are still felt. Haiti shares traits with neighbors, such as reliance on cheap labor and past U.S. interventions and support for […]
Experts call for Mexico to revise its economic tactics to benefit from the growing nearshoring movement, which brings production closer to the market. Arturo Oropeza highlights leading nations like the USA and Germany adapting strategies due to global trade evolution. Oropeza, during his book launch on nearshoring, highlights this trend as a critical resource, urging […]
State Grid, a state-owned Chinese powerhouse, has committed to investing R$200 billion ($39.6 billion) in Brazil's energy infrastructure. This initiative was highlighted during discussions in Brazil with Brazil's Energy Minister, Alexandre Silveira. The investment will focus on improving electric transmission, production, and distribution, with a keen eye on renewable energy and strategic mineral mining. Jin […]
Wednesday’s morning call casts a light on pivotal economic data set to impact stock market dynamics and the financial community. The agenda is packed with crucial updates, ranging from the latest on industrial production to composite PMI indices for February and March. Detailed Schedule: At 09:00, we anticipate February’s industrial production figures from IBGE, setting […]
Today offers an exciting lineup for soccer enthusiasts with major matches in South American and European football. The spotlight shines on the Copa Libertadores’ opening phase featuring Botafogo, Palmeiras, and Fluminense. Meanwhile, Cuiabá, Fortaleza, and RB Bragantino are set to play in the Copa Sudamericana. Today’s soccer schedule spans Brazil, Europe, and South America, with […]
In a groundbreaking study, Brazilian scientists have identified neurons that induce compulsive eating, even in the absence of hunger. This revelation, shared by the São Paulo Research Foundation (FAPESP), could revolutionize the approach to treating obesity and disorders such as anorexia and bulimia. The research underscores that manipulating specific areas of the brain can alter […]
The Ceres Leading Index (CLI), a predictive measure of Uruguay’s economic activity, rose by 0.3 percent in March. This uptick signifies the sixth straight month of growth, a positive trend highlighted by the Ceres Research Institute. This upward movement signals sustained economic growth into the first quarter of 2024. This continuation of growth builds on […]
In Montevideo, the Copa Sudamericana kicked off with an intense match between Uruguay’s Racing and Brazil’s Corinthians, ending in a 1-1 draw. This result opened the competition for Group F, setting the stage for an intriguing tournament. The game, held at the iconic Centenario Stadium, turned electrifying in the later stages with Yuri Alberto scoring […]
Yesterday, the Central Bank of Chile made a unanimous move to trim the Monetary Policy Rate (MPR) from 7.25% down to 6.5%. This step reflects a worldwide dip in inflation, despite mounting costs. The authority also hinted at further cuts in the near term. In July last year, the Bank initiated its first MPR reduction […]
In Uruguay, President Luis Lacalle Pou enjoys a solid approval rate of 46%, a survey by Cifra shows. This figure marks a slight increase from February’s 43%. Meanwhile, those opposed to his leadership ticked up marginally to 40%. With just 10 months left in his term, Lacalle Pou, at the helm of a five-party coalition, […]
Panama stands on the brink of a historic achievement, poised to welcome an estimated 2.9 million international guests by year's end. This forecast shatters previous records, marking a pivotal moment for the nation's travel industry. Fernando Fondevila, the driving force behind the Panama Tourism Promotion Fund (Promtur), shared these expectations. His announcements came during an […]
Recently, the U.S. government transferred 30,175 Bitcoin (BTC) to a Coinbase wallet, with a value of about $2 billion, stirring the cryptocurrency market. This move, reported by Arkham Intelligence, involves assets seized from Silk Road, a notorious dark web marketplace. In 2020, the government seized 69,370 bitcoins from Silk Road, marking the largest cryptocurrency confiscation […]
By mid-March, Brazil's sugar cane harvest in the North and Northeast had processed 57.38 million tons, reaching 92% of its target for the 2023–2024 season, marking a 2.5% increase. Sugar production in these regions surged to 3.36 million tons, up 9.3% from the previous year, according to NovaBio. This association, led by CEO Renato Cunha, […]