Brazilian Vice President Geraldo Alckmin announced a significant advancement in international trade by Mercosur, a major South American trade bloc. This bloc includes Brazil, Argentina, Paraguay, and Uruguay. They have all agreed on a new set of trade rules, known as the Rules of Origin agreement. This agreement is a big deal. It will make […]
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77.05% of salary update negotiations in Brazil, Latin America’s leading economy, exceeded inflation in the first half of 2023, according to a study released this Saturday by the state-run Agencia Brasil. The official data from the Medidor portal of the Ministry of Economy was released by the Foundation Institute of Economic Research (FIPE, in Portuguese), […]
Panama’s Food Shortage Worsens, Supply Chain Disrupted
In Panama, a vegetable shortage at the pivotal Merca Panamá market is causing scarcities of essential foods like lettuce and potatoes, leading to rising prices. Bloomberg Línea reports the shortage links to protests. They’re against a law favoring First Quantum Minerals. This law allows 40 more years of mining. Critics say it was rushed and […]
Brazil’s Major Federal Enterprises Not in Top Form under Lula
In 2023, Brazil’s major federal companies, including Petrobras, Banco do Brasil, BNDES, Caixa, and Correios, saw their profits drop by 24% to R$182 billion ($36.4 billion). This downturn occurred in the first year of President Lula’s third term. Petrobras notably experienced a 33% reduction in profit to R$124.6 billion ($24.92 billion). However, the oil giant […]