Amid geopolitical tensions, Brazil’s fiscal challenges, and U.S. interest rate uncertainties, the dollar hit a high on April 16, 2024. It reached $5.2802, marking a 1.84% increase and a peak since last March. Concurrently, Brazil’s primary stock index, the Ibovespa, declined by 0.76% to 124,386.78 points. This decline reflects broader global market downturns, which are […]
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Brazil’s Rising Wheat Imports and Declining Production
Brazil’s wheat imports for the 2023/24 season are set to exceed 7 million tons, marking a 56.2% increase from the previous year. StoneX attributes this rise to a 10.7% hike since December. Argentina is the main wheat supplier. Brazil’s own wheat production is estimated at 8.25 million tons, falling short of expectations. Excessive rain in […]
Burkina Faso ends decades of tax benefits for France amid regional tensions
Burkina Faso’s military government has ceased the tax privileges previously provided to France. This decision followed after French sanctions against Burkina Faso. The tax agreement, initiated in 1965 and later amended in 1967, 1971, and 1974, allowed French companies and citizens to pay taxes to France on earnings made in Burkina Faso, while simultaneously receiving […]
Record R$ 7 Billion Deficit for Brazilian State Companies
The deficit of state-owned companies in Brazil has reached an unprecedented level. From January to August, the total deficit amounted to R$ 7 billion ($1.25 billion). Federal companies accounted for R$ 3 billion ($536 million) of this deficit, while state-owned enterprises contributed R$ 4 billion ($714 million). These figures, reported by the Central Bank, reflect […]