FIFA may ban Brazilian football clubs from international competitions following a notification sent to the Brazilian Football Confederation (CBF). The issue centers on the potential suspension of CBF President Ednaldo Rodrigues due to external influence. FIFA's immediate action could lead to excluding Fluminense from this month's World Club Cup. This decision connects to similar actions […]
The Ibovespa, Brazil's leading stock index, initially fell following stronger-than-expected U.S. employment data. However, it quickly rebounded, gaining strength on Friday. This surge was driven by significant gains in blue-chip stocks, particularly Petrobras and Vale. At approximately 12:25 PM in Brasília, the index had climbed by 0.84% to 127,071 points. Simultaneously, the U.S. dollar traded […]
Recently, Moody's, a financial rating agency, downgraded Macau's economic outlook from "stable" to "negative." This adjustment links closely to Macau's deep ties with mainland China. The decision faced criticism from Macau's authorities, who disagreed with Moody's assessment. Moody's explained that the change reflects Macau's strong political, institutional, economic, and financial connections with mainland China. The […]
Angola's parliament has recently passed a bill focused on cryptocurrency mining and virtual assets. This unanimous decision marks a significant step in regulating digital currencies. The law's primary goal is to safeguard Angola's monetary sovereignty. State Secretary for Finance and Treasury, Otoniel dos Santos, highlighted the importance of this law. He spoke about its role […]
In recent developments, Brazil's Amazon region witnessed a notable decline in deforestation. This decrease reached 63.7% as of November compared to the previous year. Brazil's National Institute for Space Research (INPE) provided these insights. INPE's Real-Time Deforestation Detection System (Deter) actively monitors forest cover changes. The data revealed a significant reduction, with only 201.1 square […]
The Reserve Bank of India (RBI) has boosted its growth forecast for the financial year 2023-24. It anticipates a 7% increase, marking an upgrade from its 6.5% projection. This adjustment reflects India’s impressive July-September quarter economic performance, where 7.6% GDP growth surpassed the central bank’s initial estimate. RBI Governor Shaktikanta Das announced these revisions, attributing […]
Russia steps in, urging Venezuela and Guyana to steer clear of actions that might escalate tensions over the Esequibo region. Maria Zakharova, representing Russia’s Foreign Ministry, highlights this. She also cautions against outside interference in this disagreement. Russia is closely monitoring the situation, focusing on the advisory referendum Venezuela held on December 3. This vote […]
In 2019, Argentina’s Central Bank (BCRA) boasted over US$12 billion in net reserves. By November 2023, a stark reversal occurred, with net reserves plummeting to a negative US$11.311 billion. This marks a significant drop of US$23.395 billion over four years. Analysts have derived these figures from BCRA’s published data on gross international reserves. As of […]
In 2023, Brazilians withdrew over R$ 100 billion (approximately $20.4 billion) from savings accounts. These withdrawals, totaling R$ 101.59 billion (about $20.73 billion) from January to November, mark a historic high since 1995. According to Brazil’s Central Bank, the previous record was R$ 109.5 billion (around $22.35 billion) in 2022. In 2022, savings accounts experienced […]
In 2023, Brazil established itself as a frontrunner in cryptocurrency adoption in Latin America and globally. The country's proactive approach has made it the region's leading market for digital currencies. Government and regulatory initiatives have played a crucial role in this development. According to Chainalysis' Global Crypto Adoption Index, Brazil ranks ninth, reflecting significant involvement […]
In 2024, Brazil anticipates a 3.2% decrease in farming and agricultural production, translating to 306.2 million tons. This projection by the Brazilian stats agency IBGE marks a downturn from 2023's expected record harvest of 316.3 million tons, a 20.2% increase from the previous year. The projected decline reflects Brazil's dynamic agricultural trends. In 2023, the […]
Fitch Ratings has reaffirmed Mexico’s “BBB-” credit rating with a stable outlook. This rating reflects Mexico’s effective macroeconomic management and sound financial strategies. Mexico’s economy is forecast to grow 3.4% in 2023, with a slowdown to 2.4% in 2024. Growth factors include positive global value chain shifts. Mexico’s policies and external financial stability support its […]
The business climate in Latin America has shown a significant improvement, reaching its highest point since 2018, according to the Getúlio Vargas Foundation (FGV-Ibre). This growth, marked by an increase to 102 points in the fourth quarter, was driven by Mexico's progress across various economic indicators. Conversely, despite showing year-over-year improvements, Brazil recorded a decline […]
Brazilian President Luiz Inácio Lula da Silva's latest approval rating stands at 51% as per a recent IPEC survey. This reflects a decline from September's 56%. However, disapproval rates increased to 43%, with 6% undecided. The survey from December 1st to 5th shows a nuanced view of Lula's third term, with 38% rating it positively, […]
Mercosur, a trade bloc of $3.5 trillion, including Brazil, Argentina, Paraguay, Bolivia, and Uruguay, launched a major initiative. They unveiled a $10 billion fund dedicated to infrastructure projects across South America. This significant move, known as the "Routes for South American Integration," aims to improve connectivity in the region. The announcement was made at the […]
(Opinion) Portugal’s political scene is in the midst of a remarkable transformation. President Marcelo Rebelo de Sousa’s decision to dissolve the government following Prime Minister António Costa’s resignation paves the way for new beginnings. This bold step, taken amid legal inquiries involving Costa, signals a commitment to transparency and legal accountability. De Sousa’s timing is […]
Today marks a significant expansion for Mercosur as Bolivia becomes its newest member. This addition brings the total number of countries in the bloc to five, alongside Argentina, Brazil, Paraguay, and Uruguay. Bolivia’s entry into Mercosur enriches the bloc with its vast natural resources, including significant deposits of lithium and natural gas. Additionally, Bolivia offers […]
