Venezuelan President Nicolás Maduro recently announced a reshuffle of key government positions to tackle public service management challenges. Since 2017, Jorge Márquez served as the Minister of the Presidency’s Office. Now, he steps into his new role as the Sectoral Vice President of Public Works and Services and also takes on the responsibilities of Minister […]
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U.S. Federal Reserve hikes interest rates to a 22-year high
The U.S. Federal Reserve has increased its interest rates by a quarter percentage point to a range of 5.25-5.50%, marking the highest level in 22 years. This rate hike, the 11th since March 2022, was enacted without clear indication of further planned increases in the near future. This strategy is used to curb inflation by […]
Indian Sugar Output Declines, Impacting Biofuel Plans
This season, sugar production in India saw a slight decrease of 1.2%, totaling 25.54 million metric tons. This reduction stems mainly from lower yields in Maharashtra and Karnataka, as the Indian Sugar Mills Association (ISMA) noted on Monday. In Maharashtra, sugar production fell to 9.09 million tons from 9.52 million, and Karnataka experienced an 8.3% […]
Argentina’s Unofficial Dollar Soars 4%
Argentina’s unofficial dollar rate climbed 2% today, ending at 773 pesos per dollar. This is the highest value for September. Since last Tuesday, it has risen 4%. Comparatively, the gap with the official wholesale rate hit 121%. Against the public retail rate, the gap stands at 111%. Meanwhile, “financial dollars” stayed stable or fell in […]