Economy

• Saturday, June 29th 2024 - 09:28 UTC

  Brazil: Dollar soars, unemployment falls

  

  The economy in South America's largest country is taking a shaky turn as Friday's figures would indicate. The exchange rate between the local real (R$) and the US dollar (US$) went up 15.15% over the past six months, closing at US$ 1 = R$ 5.58 while the Stock market fell 0.32% for a 1.49% monthly gain. On the brighter side, unemployment in the quarter ending in May stood at 7.1%, according to Brazil's Institute of Geography and Statistics (IBGE), a considerable improvement from February's 7.8% and the yoy 8.3%.

• Friday, June 28th 2024 - 19:49 UTC

  Paraguayan President reminded that “impunity discourages foreign investment”

  

  US Under Secretary of State for Management and Resources Richard Verma, who heads his country's delegation before the Organization of American States (OAS) 54th General Assembly in Asunción, met Thursday afternoon with Paraguayan President Santiago Peña, with whom he discussed the devastating effects of corruption and impunity on the economy.

• Friday, June 28th 2024 - 18:29 UTC

  Food industry is Brazil's main source of jobs, IBGE finds

  

  The foodstuff industry accounted for the largest number of jobs (22.8%) in South America's largest country, according to a study released Thursday by Brazil's Institute of Geography and Statistics (IBGE). The clothing and accessories industry represented 7% of workplaces, and the manufacture of metal products (machinery and equipment not included), 5.9%.

• Thursday, June 27th 2024 - 19:24 UTC

  Denmark plans to tackle animal gas emissions with a livestock tax

  

  Denmark's coalition government agreed this week to tax livestock owners the equivalent of US$96 per head per year from 2030 due to greenhouse gases produced by animal flatulence, Tax Minister Jeppe Bruus announced. The move on cows, pigs, and sheep is expected to result in a 70% reduction from 1990 levels by the end of the decade on the path to carbon neutrality, Bruus explained. “We will take a big step towards climate neutrality in 2045,” he emphasized. The tax is expected to be approved by Parliament later this year.

• Wednesday, June 26th 2024 - 10:51 UTC

  Milei's alleged success under questioning from studies measuring people's reality

  

  While Argentine President Javier Milei tours the world boasting his administration's success in curbing inflation, local reports underscore deteriorating living conditions for most people in his country which seems to be heading for hyper-recession.

• Tuesday, June 25th 2024 - 10:55 UTC

  Awkwardness surrounds Milei's presence in Prague

  

  Argentine President Javier Milei Monday said from Prague that he would “probably” be awarded the Nobel Prize for “rewriting economic theory” with his administration's alleged achievements rescuing the South American country from hyperinflation and getting it back on track. Besides his political engagements with the Czech authorities, Milei's presence in town sparked another controversy regarding a new accolade he was presented after the organization allegedly behind the distinction said it had nothing to do with it.

• Tuesday, June 25th 2024 - 10:28 UTC

  Paraguay's shipping business needs Paraná River dredged as soon as possible

  

  Paraguay's Congress will be asked to declare a hydrological emergency in the Paraná River to speed up dredging after members of the Paraná Joint Commission (Comip) discussed the hydro-climatological last week and agreed on the next actions, Merchant Marine Director Patricio Ortega explained in Asunción.

• Tuesday, June 25th 2024 - 09:41 UTC

  Brazil's yearly inflation projection adjusted slightly upwards

  

  Brazil's Central Bank (BCB) Monday released the latest edition of its Focus Bulletin showing a slight upward adjustment in the Broad National Consumer Price Index (IPCA) from 3.96% to 3.98% this year, Agencia Brasil reported. The index is considered the country's official inflation. The weekly survey among leading financial institutions also projected an increase from 3.8% to 3.85% next year while for 2026 and 2027 the forecasts were 3.6% and 3.5% respectively.

• Monday, June 24th 2024 - 18:29 UTC

  India forecasted to become fourth and third world economy in one to three years

  

  India is set to become a US$ 4 trillion economy in 2025,surpassing Japan by early next fiscal to become the world's fourth largest economy, Indian Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said last week, confirming the IMF half year World Economic Outlook database.

• Saturday, June 22nd 2024 - 10:00 UTC

  Lacalle highlights role of SMEs in Uruguay's economy

  

  Uruguayan President Luis Lacalle Pou insisted Friday on the importance of SMEs for his country's economy. During a speech at the Midland Hotel & Resort in Paso de los Toros, in the department (province) of Tacuarembo, the head of state argued that his government lowered taxes on small businesses because they drove local activity, and to govern a country you have to know its human geography.