Brazil’s unemployment rate has reached its lowest level in a decade, dropping to 6.9% in the second quarter of June 2024. This marks a significant decline from the 7.9% recorded in the first quarter, driven …
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Biden, Lula to Discuss Venezuela Election on Tuesday
Brazilian President Luiz Inacio Lula da Silva and U.S. President Joe Biden will speak on Tuesday in a phone call focusing on the contested Venezuelan presidential election. The call, scheduled at 2:30 p.m. ET (1830 …
Continue readingG20 Sees Soft Landing for Global Economy, But War Clouds Outlook
G20 finance ministers and central bankers have concluded their meeting in Brazil with a cautiously optimistic outlook on the global economy. While acknowledging the increasing likelihood of a “soft landing,” they warn of significant risks …
Continue readingPetrobras Nears Deal to Buy Back Refinery from Mubadala: What’s at Stake?
Petrobras, Brazil’s state-run oil company, is nearing a deal to buy back the Mataripe refinery from Abu Dhabi’s sovereign wealth fund, Mubadala. The deal, which could be finalized in the coming months, comes after President …
Continue readingBunge-Viterra Merger Nears EU Approval, But Faces Hurdles Elsewhere
The $34 billion merger between U.S. grains merchant Bunge and Glencore-backed Viterra is on track for conditional approval from the European Union, according to a source with direct knowledge of the matter. The deal, announced …
Continue readingBrazil Secures G20 Consensus Ahead of Rio Meetings, Avoiding Geopolitical Disputes
Brazil has reached an agreement on consensus documents to be approved at the upcoming G20 finance meetings in Rio de Janeiro next week, according to Mauricio Lyrio, Brazil’s ambassador to the G20. This comes after …
Continue readingBrazil Freezes $2.7 Billion from 2024 Budget Amid Market Turmoil
Brazil’s Finance Minister Fernando Haddad announced a significant move on Thursday, freezing $2.7 billion (15 billion reais) from the 2024 budget. This decision comes amidst growing market concerns regarding the country’s ability to manage its …
Continue readingBrazil Government Maneuvers to Delay Central Bank Autonomy Vote
The Brazilian government has proposed that the central bank should cover the costs of the Proagro rural insurance program, potentially delaying a crucial vote on granting the central bank financial autonomy. The move, which could …
Continue readingIndia’s Opposition Calls for Billionaire Tax to Fund Public Services
India’s main opposition party, the Congress, has demanded that Prime Minister Narendra Modi impose a 2% tax on billionaires to fund public services. This demand comes at a time of increasing income inequality in India, …
Continue readingChina and Brazil Team Up for Sustainable Beef Traceability
China, the world’s largest beef importer, and Brazil, its biggest supplier, are joining forces to create a pilot scheme for beef traceability. This initiative aims to make beef production more sustainable and transparent, tackling concerns …
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