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Brazil

Brazil Hits Foreign Online Shopping with 20% Tax

In a decisive action, Brazil's Chamber of Deputies passed a law to tax foreign online purchases under $50 by 20%. Chamber President Arthur Lira and...

Nubank Soars to the Top: Latin America’s New Banking Titan

In a notable shift within Latin America's financial sector, Nubank has overtaken Itaú Unibanco to become the region's most valuable bank. Boasting a market valuation of R$297 billion ($57.4 billion at an exchange rate of...

Brazil’s Congress Overturns Lula’s Veto, Ends Prisoner “Holiday” Releases

In a significant defeat for Lula, Brazil's National Congress decisively voted on Tuesday to end temporary prisoner releases. These releases previously allowed prisoners to visit...

Pix Goes Global: Foreigners Can Now Pay Seamlessly in Brazil

Pix has become a staple in Brazil's financial landscape. With 163 million users and...

Brazil’s Congress Blocks Law to Criminalize Fake News: What’s...

On May 28, 2024, the Brazilian Congress upheld former President Jair Bolsonaro's veto against criminalizing fake news. This controversial decision...

Brazil’s April Surplus Falls Short, Deficit Projections Worsen for 2024

On Tuesday, Brazil's National Treasury announced a primary surplus of R$11.1 billion ($2.14 billion) for Brazil's central government in April. This result, which encompasses the...

Brazil Condemns Israel for “Systematic Violation of Human Rights”

On Tuesday, Brazil's Ministry of Foreign Affairs issued a statement strongly condemning Israel’s recent military actions in Gaza. They criticized...

Petrobras Fast-Tracks Oil Exploration to Secure Brazil’s Energy Security

Petrobras is accelerating its oil exploration and production efforts to secure Brazil's energy reserves, according to new president Magda...

Ibovespa’s Small Gain Ends Six-Day Losing Streak

The Ibovespa, Brazil's main stock index, saw a slight increase on Monday, a gain...

Stalled Tracks: Brazil’s Battle to Rejuvenate a Third of Its Railways

Brazil faces a challenge in transportation with over 10,000 kilometers of unused railway tracks, a...

Global Tensions and Economic Policies Propel Gold to Record Prices

Amid rising geopolitical tensions and economic shifts, gold prices have reached unprecedented heights, recently surpassing $2,400 per troy ounce. Projections...