South Africa Rejects a Wealth Tax on Its Richest
The South Africa wealth tax debate is settled for now: Finance Minister Godongwana rejected an annual levy on the richest...
July 5, 2026Section
Business
Economic and Business News in Rio de Janeiro and Brazil
A Billionaire’s Plan to Turn Tongaat Sugar Into Power
Tongaat Hulett's new owner Robert Gumede plans to turn sugarcane into electricity, ethanol and industrial gas to save the 134-year-old...
July 5, 2026
Ethiopia Builds Africa’s Largest Airport Near Addis
Ethiopia breaks ground on Bishoftu International Airport, Africa's largest airport at $12.5B, targeting 110M passengers yearly by 2030.
July 4, 2026
Nigeria Becomes the First OPEC Nation to Join the IEA
Nigeria joins the IEA as the first OPEC member to do so, giving Africa's largest oil producer a seat at...
July 4, 2026
Banana Port, DR Congo: First Deep-Water Harbour Opens 2027
Where is DR Congo's Banana port? On the Atlantic coast, DP World is building a US$1.2 billion harbour in Kongo...
July 4, 2026
Brazil Takes Back Power Lines a Builder Never Built — and Auctions Them Again
Brazil reauctioned four power-line concessions a builder never delivered, with Alupar and Axia winning the one and eight-tenths billion reais...
July 4, 2026
A Norwegian Giant Bought a $1.3 Billion Texas Plant to Keep Brazil’s Farms Fed
Yara is buying a Gulf Coast ammonia plant in Texas for one and a third billion dollars, tightening its grip...
July 4, 2026
Brazil’s Trade Surplus Jumps 67% — Even as the US Threatens Tariffs
Brazil posted a record June trade flow and raised its 2026 surplus forecast to ninety billion dollars, with US sales...
July 4, 2026
Nigeria and Morocco Push a $25 Billion Gas Pipeline
Nigeria and Morocco are advancing a $25 billion gas pipeline that would run 6,900 km along West Africa's coast, linking...
July 4, 2026