El Salvador is shifting its economic strategy, focusing on redistributive investments to exceed its 2.4% average growth. This approach aims to improve low-income families’ well-being. Daniel Serrano from the Jesuit Central American University (UCA) explains that this involves reallocating societal resources. Serrano stresses the importance of developing productive forces, including both means of production and […]
Angola's central bank has increased its benchmark interest rate to 18%, a rise from the previous 17%. Governor Manuel Tiago Dias announced this decision to address the country's growing inflation. This change follows a recent meeting of the Monetary Policy Committee (CPM) in Luanda. The bank's strategy includes maintaining a restrictive monetary policy. This approach […]
Mozambique, rich in graphite, is positioning itself as a key supplier to the European Union's electric vehicle industry. Max Tonela, the country's Minister of Economy and Finance, unveiled this plan at a recent forum in Maputo. He stressed graphite's role in electric vehicle batteries, suggesting partnerships between European and Mozambican firms. Tonela promoted the idea […]
Javier Milei, Argentina’s newly elected president, declared a bold plan on Tuesday to overhaul the country’s economy. He announced a “shock adjustment” of 15% to Argentina’s Gross Domestic Product (GDP). In his interview with journalist Manuel Adorni, Milei emphasized his goal of achieving fiscal balance by 2024’s end. Milei also tackled the issue of public […]
Following the recent election in Argentina, prices in various sectors have surged, with products now costing up to 45% more. A diaper store in Buenos Aires’ Recoleta neighborhood exemplifies this trend. Here, prices soared between 25% and 40% overnight. This phenomenon isn’t isolated. Following a public holiday, multinational consumer goods companies issued new price lists. […]
Codelco, the world’s top copper supplier, is investing an additional $720 million in modernizing a key mine. This move aims to tackle project delays and budget overruns, seeking to boost production. As detailed on the regulator’s website, the Chilean state-owned miner is updating the Chuquicamata mine from open-pit to underground. However, this won’t expand the […]
Chatham House, a London-based think tank, has released a report highlighting a looming global land shortage. This shortage could lead to conflicts as countries compete for limited resources. The report points out that demands from food, energy, and carbon storage industries are intensifying land scarcity. The world’s growing, more affluent population increases land resource pressure. […]
The upcoming OPEC+ meeting, scheduled for this weekend, has been postponed. Saudi Arabia's dissatisfaction with the oil production levels of other members led to this delay. The meeting is now rescheduled for next week. Since July, Saudi Arabia has reduced its oil output by an additional 1 million barrels daily. The country has been negotiating […]
On Wednesday, the Ibovespa, Brazil's stock index, showed a notable increase. Investors are keenly analyzing comments from Roberto Campos Neto, Brazil's Central Bank President. They are also examining economic data from the United States. Neto recently suggested on Bloomberg Television that Brazil might continue to cut interest rates. He linked this possibility to the country's […]
Binance, a major cryptocurrency exchange, experienced a significant outflow of funds, with investors withdrawing about $950 million in just one day. This happened right after Changpeng Zhao, the CEO, left his job. Most of the withdrawn funds were in cryptocurrencies like USDT, Bitcoin, Ether, and BNB. BNB is linked to Binance but is not under […]
The 2023 season of the Brazilian Football League, known as Brasileirão, is nearing its end. With just four rounds left, the league has seen a remarkable increase in fans attending games. More than nine million fans have filled the stadiums this year. This number beats last year’s total by nearly a million. Ticket sales have […]
Mexico is building an interoceanic corridor in the Isthmus of Tehuantepec to connect the Pacific and Atlantic Oceans. This 300-kilometer project, a potential Panama Canal rival, is causing both excitement and controversy. Conceived in the 16th century, it’s now being pushed forward by President Andrés Manuel López Obrador’s government, which has invested $2.85 billion. The […]
Enel, an Italian energy powerhouse, has decided to divest its holdings in two Peruvian subsidiaries. They will sell these shares to Niagara Energy for €1.3, roughly $1.42 billion. This decision is a strategic move to decrease Enel’s debt, which reached €63.3 billion by September’s end. Notably, the Italian state holds a 23.6% share in this […]
Roberto Campos Neto, President of Brazil's Central Bank, asserts that Brazil's interest rates are restrictive enough to allow further cuts. He notes that while long-term inflation expectations are slightly above the target, decreasing inflation creates room for rate reductions. This strategy aims to balance economic restraint with growth. In the next two Copom meetings, Campos […]
(Opinion) Argentina faces a critical diplomatic challenge with potential policy shifts under president-elect Javier Milei. Milei’s advisor, Diana Mondino, suggested changes could disrupt longstanding economic relationships with China and Brazil. As Argentina’s second-largest trading partner, China plays a vital role in its economy, especially in agriculture. China’s Foreign Ministry spokesperson, Mao Ning has warned against […]
Brazil's soybean planting delay for the 2023/24 season is increasingly alarming the market. Investors and exporters fear reduced productivity may lead to lower soybean supply. The American financial market reflects this concern, with non-commercial funds increasing their net long positions in soybean contracts by 50% in one week. The Commodity Futures Trading Commission (CFTC) reports […]
Mexico's Secretariat of National Defense (Sedena) is focusing on enhancing national airspace security. They are developing a radar prototype, Radar Camazot 2022. This radar aims to improve operations against illegal trafficking from Central and South America. Currently, existing equipment covers only 32% of Mexico's airspace. Sedena plans to extend this to cover the remaining 68%. […]
President Luiz Inácio Lula da Silva of Brazil aims to finalize a trade deal between Mercosur and the European Union. He plans to do this before his Mercosur presidency ends on December 7. Lula shared this on his weekly program, "Conversation with the President." On Monday, he spoke with Ursula von der Leyen, President of […]
Following Argentina’s presidential election, the parallel dollar (“blue”) soared over 13% on the first business day, closing at 1,075 pesos per unit. The U.S. dollar in the informal sector climbed by 125 pesos. This increase widened the gap with the official dollar, priced at 371.5 pesos. This surge happened on the first trading day after […]
Atlas Intel's recent survey shows a tight race in public opinion on President Luiz Inácio Lula da Silva's government. Conducted from November 17 to 20, it reveals 45% negative and 43% positive ratings. This marks the first time negative views have edged past positive ones since Lula's term began. The survey's margin of error is […]
On November 22, 2023, OpenAI, the company behind ChatGPT, announced the reinstatement of Sam Altman as CEO. Altman's return follows his dismissal on November 17 by the company's Board of Directors. Investor intervention and employee threats of mass resignation led to this turnaround. OpenAI communicated this news on X, previously known as Twitter. They mentioned […]
On November 21, 2023, Israel agreed to a ceasefire with Hamas, including terms for exchanging hostages. Israeli Prime Minister Benjamin Netanyahu led the talks. The decision follows several important meetings. In the deal’s first stage, Hamas will release about 50 Israeli captives. These include women and children from Gaza. In exchange, Israel will free around […]
Carlos Fávaro, Brazil's Agriculture Minister, resigned to participate in important Senate voting sessions. His resignation appeared in the "Diário Oficial da União" on November 22, 2023. President Luiz Inácio Lula da Silva signed the resignation notice. It shows Fávaro asked to leave his post. Fávaro from the PSD party will now vote on important laws. […]
