In a significant move to mend relations, Saudi Arabia named Faisal al-Mujfel as its first ambassador to Syria since 2012. This appointment signals a thaw in relations, potentially impacting regional stability and peace. The Syrian conflict, starting in 2011, caused massive destruction and displacement, isolating Syria from many global communities. The situation began to change […]
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Transport strike brings Buenos Aires and six Argentine provinces to a standstill
A national strike organized by the Unión Tranviarios Automotor (UTA) caused complete paralysis of the Metropolitan Area of Buenos Aires (AMBA) and six other provinces in Argentina on Friday. The strike is a result of the transportation companies’ failure to comply with the agreed-upon salary increase for UTA-represented workers, according to the union. The “work […]
Argentina Slashes Interest Rate to 80% Amid Inflation Drop
On Monday, the Central Bank of Argentina (BCRA) lowered its benchmark interest rate from 100% to 80%. This move reflects the country’s declining inflation rates. The BCRA also deregulated the minimum interest rates for fixed-term deposits in response to the economic climate and liquidity conditions. After a significant price adjustment in December 2023, inflation began […]
Unemployment Rate Drops to 7.1% in Brazil, Hitting a 10-Year Low
Brazil’s unemployment rate dropped to 7.1% in the quarter ending in May, the lowest since 2014, down from 8.3% a year ago, reported the IBGE. Analysts had expected a rate of 7.3%. The number of unemployed people fell by 8.8%, or 751,000 individuals, over the quarter. Annually, this figure dropped by 13%, equating to 1.2 […]