The Brazilian Central Bank’s economic activity index, known as IBC-Br – a well-regarded gauge of Brazil’s gross domestic product (GDP) – notched an uptick of just 0.01 percent in April, falling short of the market consensus which forecast a rise of 0.45 percent. This followed a decline of 0.34 percent in March. Despite this seemingly sluggish performance in the short term, the IBC-Br has climbed 4.01 percent over the past year and 2.08 percent since the beginning of the year, reflecting a more favorable trajectory in the longer term. The index, which factors in proxies tied to the production volumes…
Author: BRICS+ News Services
Zimbabwe’s Finance Minister Mthuli Ncube has announced that the country is facing debt distress with external debt payment arrears amounting to US$6.7 billion. This accumulation of debt has hindered Zimbabwe’s development needs as access to international financial resources remains limited. Ncube emphasized the need for significant debt restructuring, including “very deep haircuts and elimination of all penalties.” According to Zimbabwe’s debt registry, bilateral external debt stands at US$6.2 billion, with US$4.7 billion in arrears, mainly with Paris Club creditors. Harare owes US$4.1 billion to Paris Club members, with most of that debt in default for over two decades. The debt…
The Central Cadres Training School of the Workers’ Party of Korea held its inauguration ceremony in the Democratic People’s Republic of Korea on May 21. General Secretary Kim Jong Un emphasized the school’s importance in a commemorative lecture during his visit in October 2022, highlighting the Party Central Committee’s decision to elevate it as a university surpassing all others. The completion of the school in just over a year showcases its rapid development and modern infrastructure, spanning over 133,000 square meters with advanced educational systems and facilities. This inauguration signifies a new chapter in the history of the Workers’ Party…
In an effort to promote greater transparency over policies in Egypt, the International Monetary Fund (IMF) is implementing several measures as part of its program to enhance fiscal transparency. This move aims to provide governments with a clear understanding of their financial situation when making economic decisions, as well as to give stakeholders such as legislatures, markets, and the public the necessary information to hold governments accountable. Fiscal transparency plays a crucial role in strengthening the credibility of a country’s fiscal plans, which in turn can boost market confidence and perceptions of fiscal solvency. The Egyptian authorities have committed to…
In a tragic and horrifying incident near Kanpur district hospital, a decomposed body of a woman was discovered in the bushes. The police suspect that the woman was a victim of a heinous crime, as she was found without any clothes on her lower body and her face displayed signs of disfigurement, possibly from an acid attack. The location of the woman’s body, just a few meters away from the chief medical officer’s (CMO) office, raises questions about the security and safety measures in place within the hospital premises. Dr Sudesh Gupta, the head of Kashi Ram Hospital, expressed shock…
Vladimir Putin stands to benefit significantly from the recent surge of far-right parties in the European Parliament elections. The Kremlin, not content with exerting influence over former Soviet Union members, is now expanding its support across Europe. This shift towards pro-Russia sentiments was evident when the far-right Alternative for Deutschland party refused to attend Ukrainian President Volodymyr Zelensky’s speech at the German Bundestag, aligning with populist parties opposing military aid to Ukraine. The AfD’s success in the elections, winning 16% of the vote in Germany, indicates a growing parliamentary power base for far-right groups across Europe. With the European Conservatives…
HSBC, a top multinational bank, has projected the longevity of the US dollar as the world’s reserve currency. The prediction precedes a time when the BRICS alliance is looking to unseat the US dollar from its global reserve currency position. It’s expected that numerous sectors in the United States would be impacted if BRICS decided to abandon the US dollar for trade. There continues to be a significant threat to the US dollar from local currencies, as developing nations have their sights set on the blue-greenback. In the debate over the future of the US dollar, HSBC Securities Chief Commodities…
In a historic turn of events, South Africa’s political landscape saw a dramatic shift as President Cyril Ramaphosa secured his reelection with cross-party support in a last-minute coalition deal. This unexpected partnership between Ramaphosa’s African National Congress (ANC) and the Democratic Alliance promises to bring much-needed stability to a country grappling with economic challenges and social issues. The ANC, long-standing ruling party of South Africa, faced a political deadlock after losing its parliamentary majority in the recent election. This led to unprecedented talks with the Democratic Alliance, a major opposition party with a white leader, to form a coalition government.…
On the evening of Saturday, 15th June 2024, it was reported that the Kyiv government will initiate an ambitious, unprecedented program to liquidate a swathe of state-owned business entities. Top-billing this public auction will be historically significant outfits such as Hotel Ukraine, an iconic architectural gem in the city, and a colossal retail facility in the heart of the city. The industrial sector will also see several of its vanguard entities included on the list, in the form of mining and chemical companies. This sweeping privatization drive, slated to commence in the summer, serves a dual purpose as outlined by…
SAO PAULO, 14 June (Reuters) – A landmark agreement has been reached between Brazil’s Diagnosticos da America (Dasa) and health insurance provider Amil which will lead to the merger of their hospital enterprises; creating a joint venture with a forecasted net revenue of almost 10 billion reais ($1.86 billion), the companies reported on Friday. The agreed arrangement progresses to establish an equally owned joint venture applying to hospital chain Impar, a Dasa-owned enterprise, which will absorb hospitals from the Amil-owned corporation Rede Americas. The market reacted favorably with Dasa shares surging by as much as 12.5% after the announcement, despite…