Founded in 2015 by BRICS countries, the New Development Bank (NDB) is set to issue $5 billion in loans in 2024, marking its significance in global finance. This move aligns with a time when China’s lending in Africa has dropped to its lowest in two decades. With $100 billion in initial capital and $50 billion […]
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Minister Fernando Haddad and Senate President Rodrigo Pacheco agreed to continue payroll tax relief for 17 economic sectors. Their agreement prevents immediate tax collection and phases in changes from next year until 2028. Companies will only face payroll taxes on the 13th salary in the final year. A recent Supreme Court decision temporarily suspended the […]
Brazil Opts Out of Daylight Saving Time for 2024
The Brazilian government has decided not to implement daylight saving time this year. Minister of Mines and Energy Alexandre Silveira announced this decision on October 16. The announcement followed a meeting with representatives from the National Electric System Operator. Silveira stated that Brazil’s energy security is assured for the upcoming summer. He explained that the […]
São Paulo Anniversary Holiday Service Schedule
São Paulo turns 470 years old on Thursday, January 25th. This special day changes how state services work. Here’s a quick guide for you: Health Services Hospitals stay open for emergencies on Thursday. The Pró-Sangue Dante Pazzaneze is shut on Thursday and Friday. Mandaqui opens from 8 a.m. to 4 p.m. on Friday only. Visit […]