In 2023, Angola faced a daunting economic challenge as its public debt soared to $80.61 billion, claiming 88% of its GDP. This marked an 11.46% hike from the previous year, largely due to an unfavorable exchange rate. Following two years of reduction, this rise signals a shift in economic pressures. The National Bank of Angola […]
John Deere, a leader in agricultural machinery, has partnered with SpaceX to address internet shortages in Brazil’s remote farming regions. This alliance focuses on deploying SpaceX’s Starlink satellite services to boost internet access crucial for modern farming technologies. The initiative was unveiled as a solution to the connectivity challenges that impair farm productivity. The collaboration, […]
Moody’s recently upgraded Brazil’s credit outlook from stable to positive while maintaining its Ba2 rating. This adjustment, first set in February 2016, places Brazil tantalizingly close to the prestigious investment grade—a mere two steps away. Such an uplift could herald a forthcoming upgrade. During a press briefing, Finance Minister Fernando Haddad hinted at an imminent […]
On April 30, 2024, Chile inaugurated the Atacama Observatory of the University of Tokyo (TAO) at 5,640 meters in northern Chile, marking a notable achievement. Recognized as the highest astronomical observatory in the world, TAO is set to transform our understanding of the universe. Located on a desert mountain, it offers ideal conditions for exploring […]
In 2023, Colombia experienced a notable 12.4% increase in housing prices, positioning it as the third highest globally, according to Asobancaria. This escalation followed significant jumps in Turkey and Poland. The rise in Colombia reflects both challenges and strengths within the housing sector. As inflation and interest rates climbed, housing sales plummeted, revealing market sensitivity […]
In April 2024, Japan saw a notable rise in its manufacturing PMI to 49.9, the highest since June 2023. This increase reflects strong service sector performance, which scored a PMI of 54.6. As a result, Japan’s overall business activity improved, with a composite PMI of 52.6. The Purchasing Managers’ Index (PMI) measures the economic health […]
Los Angeles is pioneering urban cooling by applying heat-reflective coatings to its streets, significantly lowering surface temperatures and contributing to citywide climate goals. This effort is part of the larger “Cool Streets LA” initiative, which seeks to reduce urban heat island effects. These effects occur when cities absorb more heat than rural areas due to […]
China’s latest aircraft carrier, the Fujian, recently commenced its inaugural sea trials, signaling a major advancement in Beijing’s naval capabilities. Setting sail from Shanghai’s Jiangnan Shipyard, this event underscores China’s efforts to modernize its naval forces amidst rising geopolitical tensions in regional waters. On Wednesday, the Fujian ventured into the East China Sea to undergo […]
Hong Kong is asserting itself as a leader in Asia’s cryptocurrency scene with the introduction of its inaugural Bitcoin and Ethereum ETFs. These developments are part of a broader strategy to enhance its global financial prominence, offering a contrast to mainland China’s restrictive crypto policies. The launch signifies a crucial turning point, aiming to draw […]
The United States and China are intensifying their influence over artificial intelligence (AI) development in Africa, aligning their efforts with the continent’s burgeoning tech initiatives. During the American Chamber of Commerce Business Summit in Nairobi, U.S. Commerce Secretary Gina Raimondo signed an agreement to bolster American investment in Kenya’s AI capabilities. This deal, aimed at […]
Since the Taliban’s resurgence in 2021, Afghanistan has witnessed a significant surge in tourism, with visitor numbers soaring from 700 to 7,000 within a year. This increase is linked to a perceived reduction in violence and the reopening of prominent historical sites such as the Minaret of Jam and cities like Herat and Mazar-e-Sharif. Most […]
Turkey is actively advancing its naval capabilities by introducing a new 60,000-ton, 285-meter long aircraft carrier. This development, revealed in Istanbul, signals Turkey’s push to bolster its maritime strength and achieve technological independence. The Defense Industries Presidency (SSB) has led this initiative, with President Erdogan actively participating in discussions. Earlier reports mistakenly claimed that Spanish […]
In El Salvador, a swift constitutional amendment by the Legislative Assembly has ignited debates on democracy and governance. On Monday, the assembly approved a crucial change, speeding up constitutional reforms. This amendment, passed without much prior analysis, received a majority of 65 votes from the ruling Nuevas Ideas party. This change alters a longstanding procedure […]
Venezuelan bonds have surged to a three-month peak, prompted by JPMorgan Chase reintroducing them into its emerging market indices. Investors, anticipating the rebalance, have started accumulating these bonds. This year, Bloomberg reports that both government and state-owned enterprise bonds have appreciated by about 20%. Venezuela’s prolonged default notwithstanding, the anticipation of presidential elections has reignited […]
Housing costs in Latin America are rising, with Montevideo, Ciudad de México, Monterrey, and Santiago having the highest square meter rates. The Finance Research Center’s recent findings up to March indicate diverse economic factors influencing these trends. Data from the Real Estate Survey of Latin America reveal a 3.1% increase in USD terms and a […]
Santos FC has been notified by FIFA about a significant debt owed to Argentinos Juniors for acquiring midfielder Gabriel Carabajal. This unresolved financial obligation could trigger a third transfer ban for the club this year, totaling approximately $600,000 (about R$3 million). The situation was initially reported by ge and confirmed by Gazeta Esportiva. Carabajal’s tenure […]
In a thrilling Copa do Brasil match, Bahia set the pace against Criciúma. The game began with Bahia analyzing tactics, while Criciúma introduced new players. From the start, Bahia took control, pushing their entire team forward. Key players Everton Ribeiro, Cauly, and Juba created significant chances. Criciúma, focused on defense, managed to hold off Bahia’s […]
In early 2024, Brazil’s National Congress, having turned to a more conservative stance, saw a significant political shift. Right-wing legislators gained ground, diminishing the influence of President Luiz Inácio Lula da Silva’s allies. In debates on prisoner leave, drug policies, and abortion, right-aligned legislators led discussions across platforms like X, Facebook, and Instagram, reflecting a […]
The Brazilian Senate approved a significant legislative project to rejuvenate the nation’s industry. This new law enables companies to write off the cost of new machinery and equipment more quickly, reducing their taxes early on. First passed by the Chamber of Deputies, the legislation sets a fiscal exemption limit at R$ 1.7 billion (approximately $326.9 […]
After Prime Minister Ariel Henry resigned, Haiti’s transitional council named Edgard Leblanc Fils as interim president and Fritz Bélizaire as interim prime minister. Both leaders were tasked with stabilizing a nation besieged by gang violence during a ceremony in Port-au-Prince. Frinel Joseph, a council member, highlighted the importance of their roles in unifying the country. […]
In the first quarter of 2024, Brazil witnessed a remarkable job market surge, adding 719,033 formal jobs, as per Caged data. This represented a 34% increase from the previous year, as stated by the Ministry of Labor and Employment As of March, the total reached 46.24 million formally employed workers, reflecting the economy’s vibrancy. This […]
The Argentine government made a significant financial stride by paying approximately $1.9 billion to the International Monetary Fund (IMF). This recent payment marks a pivotal step in the fulfillment of a loan agreement established in 2018. Following this substantial transaction, Argentina’s international reserves were adjusted to $27.575 billion. A final principal payment of about $640 […]
The UAE-owned Edge Group finalized a deal in São Paulo on Tuesday to secure a 51% share of Condor, based in Rio de Janeiro. Known for its extensive array of non-lethal military and civil defense products, Condor operates globally in over 85 countries. The company boasts the largest non-lethal technology (NTL) portfolio worldwide. This includes […]
On a tense Tuesday, oil futures saw a decline, influenced heavily by U.S. monetary policy anticipation and the strengthening dollar. With the Federal Reserve’s upcoming decision on interest rates amid high inflation, expectations are that high rates could persist. This could bolster the dollar and apply downward pressure on oil prices. In addition to financial […]
As the U.S. released favorable economic figures and Brazil approached a national holiday, the dollar neared R$5.20, reflecting a broader upward trend. On this critical day, as the Federal Reserve prepared to announce its monetary policy, the spot dollar ascended by 1.52%. It closed at R$5.192 for buying and R$5.193 for selling—its highest closure since […]
