The Panama Canal has experienced a substantial decrease in ship traffic over the past fiscal year. This decline stems from a severe drought affecting the region. Official data reveals a 29% reduction in vessel transits, impacting over 4,000 ships. The situation has created ripple effects on Panama’s economy and global trade. The Panama Canal Authority […]
Related Posts
Pemex Losses Double as Oil Demand Slumps in Q3
Mexico’s state-owned oil company, Petróleos Mexicanos (Pemex), is grappling with severe financial setbacks. The company reported a staggering loss of 161.4 billion pesos ($8.05 billion) in the third quarter of 2024. This figure more than doubles the losses from the same period last year. Pemex’s revenue also declined to 426.1 billion pesos ($21.26 billion), a […]
Argentine parallel dollar reaches record high
In Argentina, the parallel dollar value has reached a record high of 525 pesos per unit for public sale. It has been steadily climbing, surpassing 500 pesos per unit on July 12, with the trend persisting. This increase occurs in anticipation of the country’s elections on August 13. The parallel “blue dollar” has an 87% […]
Macau’s Economy Rebounds in 2023 with Tourism Revival
In 2023, Macau’s GDP surged by 80.5% due to lifted COVID restrictions and tourism recovery, official data shows. Macau’s GDP rebounded to 379.5 billion patacas ($43.5 billion) in 2023 from a 21.4% decline in 2022, per DSEC. DSEC attributes Macau’s GDP growth to local economic activity resurgence and increased service exports. Macau shifted from China’s […]