The Ibovespa, Brazil’s main stock market index, ended Tuesday’s trading session down by 0.74% at 131,446 points. Falling stocks of major companies like Vale and Petrobras drove this decrease. Concurrently, the U.S. dollar rose by 0.70%, reaching R$ 4.90. Vale’s shares dropped by 1.35%, and Petrobras’ preferred shares declined by 0.96%. Vale’s fall is linked […]
Related Posts
VP Says Brazil Can Compete with Dollar at R$ 5.10
Vice President Geraldo Alckmin, speaking at the Enaex event, asserted that a dollar rate of around R$ 5.10 could give Brazil a competitive advantage. Yesterday, the dollar closed at R$ 5.17. He stressed the importance of boosting productivity and competitiveness. In his view, exchange rates between R$ 5 and R$ 5.10 are ideal. Additionally, he […]
Musk’s Move Towards Open-Source A.I. Shakes Up Tech Giants
In a new development, Elon Musk, at the helm of xAI, launched Grok’s AI code on March 17, 2024, stirring the tech world. X.AI Corp., known commercially as xAI, is a pioneering American company in the field of artificial intelligence (AI). Elon Musk launched it in March 2023, aiming to delve into the fundamental essence […]
Brazilian economy down by 3% in May, according to FGV GDP Monitor
The Getulio Vargas Foundation’s (FGV) GDP Monitor shows a 3% contraction of the Brazilian economy in May, relative to April, with the adjusted data taken into account. Despite the decrease, an interannual analysis revealed 1.8% growth in May and 3.5% for the quarter ending in May. FGV’s economist attributes the downturn primarily to the conclusion […]