President Luiz Inácio Lula da Silva's administration is reportedly on the verge of making a significant change at the helm of Petrobras, Brazil's state-controlled oil giant. The buzz around Brasília is that Jean Paul Prates, the current CEO, is slated for replacement. Rumors suggest Lula will soon confirm these whispers, marking a pivotal turn in […]
Venezuela’s government, under President Nicolás Maduro, has proposed a bill termed “Law Against Fascism, Neo-Fascism, and Similar Expressions” to its National Assembly. This action is generating considerable controversy across the country, especially among opposition members. This legislation emerges as the opposition faces hurdles ahead of the presidential elections on July 28. Critics argue this bill […]
(Analysis) The U.S. dollar’s rise has impacted the global economy, causing central banks from Tokyo to Istanbul to defend their currencies. This pushback comes as the robust U.S. economy props up the dollar, dampening hopes for U.S. interest rate cuts. Despite predictions of its decline, the dollar has strengthened against most major currencies this year. […]
Mexico’s President Andrés Manuel López Obrador (AMLO), known for his initial fiscal conservatism, has shifted gears dramatically. He’s increased government spending to levels not seen since the 1980s, aiming to strengthen the state-owned oil company Pemex and complete major construction projects. This spending spree has led to the largest budget deficit in decades, potentially straining […]
In 2024, Latin America proves resilient amid global economic deceleration shares Citigroup's chief economist, Ernesto Revilla, in an optimistic yet cautious report. He highlights Latin America's strategy to overcome hurdles like the U.S.'s high interest rates and China's economic slowdown. The region expects slight drops in soy and oil prices but sees rising copper prices, […]
In February 2024, Brazil saw its Foreign Direct Investment (FDI) fall to $5.0 billion, the lowest February mark since the pandemic's onset in 2020. This $5.0 billion figure was 30.1% less than the $7.2 billion recorded in February 2023. The breakdown showed $4.5 billion in capital participation and $474 million from intercompany dealings. Despite this […]
Brazil has seen a remarkable increase in money spent on international travel, reaching its peak since 2019. In the first nine months of 2023 alone, travelers from Brazil allocated $10.98 billion to journeys abroad. This figure marks a 22.14% rise over the prior year, signaling a robust return to globetrotting that had dipped due to […]
The race to secure top artificial intelligence (AI) talent is heating up, with Google and other tech behemoths leading the charge. These companies are not just competing with each other but are reshaping the recruitment landscape to attract the best minds in AI. Google’s acquisition of Logan Kilpatrick, a former OpenAI executive, underscores strategic efforts […]
On April 2nd, São Paulo became the center stage for LAAD Security & Defense 2024, the leading event for Latin America's security and defense industry professionals. The opening ceremony, graced by military and civil dignitaries including Army General Guido Amin Naves and representatives from 35 countries, marked the event's significance. The exhibition showcases global companies […]
The naira, Nigeria’s currency, is rallying from its lowest points of the year, thanks to decisive actions by the Central Bank of Nigeria (CBN). These include increasing interest rates and directly selling dollars to the foreign exchange markets. As of April 2, the naira strengthened to 1,278 per dollar, a significant recovery from its February […]
China’s quest for an open economy now plays second fiddle to its national security agenda, dimming the once-vibrant freedom in Hong Kong. Since Xi Jinping’s rise to power, Hong Kong has undergone a significant transformation. The 2020 national security law, along with Hong Kong’s Article 23, has drastically limited freedoms, broadly targeting various activities in […]
The Guyana Defense Force (GDF) recently enhanced its Air Corps by adding two advanced Hindustan 228-201 LW aircraft, provided by Hindustan Aeronautics Limited (HAL). Transported via Boeing C-17 Globemaster III planes of the Indian Air Force, these aircraft were recently delivered to Cheddi Jagan International Airport. This delivery signifies a significant upgrade for the Guyana […]
In the ongoing battle for forest conservation, Brazil and Colombia have emerged as beacons of progress in Latin America. Since 2015, Brazil has slashed its rate of primary forest loss by one-third, effectively lowering its contribution to global forest loss from 43% to 30%. Similarly, Colombia achieved a 50% reduction in forest loss during 2023, […]
From the upcoming Wednesday, travelers holding passports from the US, Canada, and Australia will be required to obtain a visa for Brazil. This applies across all entry points. The enforcement, initially planned for January, moved to April under Decree No. 11.875/2024. The delay aimed to perfect the visa system and soften any tourism impacts during […]
This Thursday is set to feature a carefully chosen selection of economic reports, offering insights into various aspects of financial health and trends. Notably the Eurozone’s March composite PMI, Brazil’s March Residential Rent Variation, and the Brazilian Central Bank’s external sector statistics for February ar on the agenda. Despite the sparse economic agenda, the anticipation […]
This Thursday (4th) offers good options for soccer enthusiasts, featuring major matches in South American and European soccer. The highlights include the first phase games of the Copa Libertadores with São Paulo and Atlético-MG, and in the Copa Sudamericana with Cruzeiro playing. Games and where to watch LIBERTADORES 19:00 – Caracas vs. Atlético/MG – ESPN […]
On April 3, Finance Minister Fernando Haddad emphasized the significant influence of Petrobras' investment plan on future dividend distributions. Haddad explained in a press conference that dividend outcomes are directly linked to the execution of Petrobras' investment strategy. The assessment hinges on whether financial resources will suffice for planned investments. A schedule has been drafted, […]
Botafogo’s journey in the CONMEBOL Libertadores kicked off with a tough 3-1 home defeat to Junior Barranquilla, setting a challenging pace for their campaign. The match not only marked a disappointing beginning in the group stage but also was a significant moment for Botafogo under the watchful eyes of their new coach, Artur Jorge. Junior […]
Brazil's Energy Minister, Alexandre Silveira, stated the country will keep producing oil and gas until it matches industrialized nations' development levels. In an interview with Folha de São Paulo, he emphasized that this approach is necessary despite the global trend towards renewable energy. Silveira highlighted that oil and gas would remain pivotal until Brazil reaches […]
Chile advanced international cooperation with the Chamber of Deputies committee approving a Pacific Alliance modernization proposal. This alliance, which includes Mexico, Peru, and Colombia alongside Chile, aims for deeper economic ties and shared growth. Deputy Minister Claudia Sanhueza highlighted the approval of a protocol that will enhance “origin cumulation” to benefit not just member states […]
After Venezuela barred key rivals to Nicolás Maduro, diplomat Yván Gil announced proudly a UN mission to ‘observe’ (and bless) the staged presidential election on July 28. The announcement came during a discussion in Caracas with Gianluca Rampolla, the UN’s main representative in the country. Gil emphasized that this initiative is in response to an […]
As of March 2024, Paraguay noted a Consumer Price Index (CPI) increase of 1.1%, up from the previous year’s March figure of 0.4%. This rise contributed to an overall inflation rate of 2% in the first quarter, slightly below the 2.1% seen in the same timeframe in 2023, as the Central Bank of Paraguay (BCP) […]
This Wednesday, the US dollar experienced a downturn, largely due to remarks from Federal Reserve Chair Jerome Powell and new data from the US service sector. Initially, the dollar had been strong, buoyed by rising US bond yields. This early performance hinted at the Federal Reserve possibly postponing interest rate cuts to July or later, […]
Oil futures recently hit their highest levels since last October, driven by a mix of global economic data, a softer dollar, and OPEC+’s consistent supply management. West Texas Intermediate (WTI) for May edged up by 0.33% to $85.43 per barrel, while Brent for June climbed 0.48% to $89.35 per barrel. These increases underscore a positive […]
In 2023, the Brazilian technology sector witnessed a significant influx of foreign investment in mergers and acquisitions (M&As). International companies and funds contributed to 90% of the total investment value. Financial transactions within the tech sector, particularly the acquisition of fintech firm Pismo by Visa, underscored this trend. This deal alone accounted for nearly one-third […]