Sudan has terminated a $6 billion agreement with the United Arab Emirates to develop a new Red Sea port. The decision comes as tensions rise between the two nations. Sudan accuses the UAE of supporting the Rapid Support Forces in the ongoing conflict. Finance Minister Gibril Ibrahim announced the cancellation on November 3, 2024, in […]
Related Posts
Brazil’s Economy Faces a Tough 2024, World Bank Warns
In 2024, Brazil’s economy faces a challenging period, as forecasted by the World Bank. The bank says that global economic trends could create obstacles despite a promising 2023 with expected inflation drops and above-anticipated growth. Lower global growth, high interest rates, geopolitical tensions, and China’s economic uncertainty may impact Brazil, particularly its commodity prices. Internal […]
Brazil Ranks Seventh in G20 Inflation for 2023
In 2023, Brazil recorded the seventh highest inflation among G20 countries, reports Alex Agostini, Austin Rating’s chief economist. The country ended the year with a 4.62% annual rate, its lowest since 2020. This marked the first time in three years Brazil met its inflation target. Argentina led the G20 in inflation, ending 2023 with a […]
Venezuela Targets 2M Barrels of Oil Daily by 2024
President Nicolás Maduro of Venezuela aims to boost oil production to one million barrels per day this year. By 2024, he expects this number to climb past two million. He spoke about this goal at a meeting with public and private stakeholders. The focus was on using oil revenue to strengthen the country’s economy. From […]