In a recent announcement last Tuesday, the Brazilian Government reported that its economy experienced a 0.8 percent growth in the first quarter of 2024. This presents a rebound sparked by household expenditures following two lackluster quarters, inching towards President Luiz Inacio Lula da Silva’s goal of sustained economic growth for the most substantial economy in Latin America. Household consumption excelled with a 1.5 percent increase, significantly influencing economic growth. This was paired with a notable decrease in unemployment, says Andre Perfeito, an independent analyst. Although conjectures had predicted growth at 0.7 percent, these elements allowed it to surpass expectations. While…
Author: BRICS+ News Services
In a groundbreaking achievement, a 17-year-old student from a secondary vocational school has etched her name in the annals of history by clinching the 12th spot globally in the prestigious 2024 Alibaba Global Mathematics Competition. Jiang Ping, hailing from Lianshui Secondary Vocational School in Jiangsu Province and specializing in fashion design, has shattered barriers by becoming the first vocational school student to reach the finals of this esteemed competition. Jiang Ping’s ardor for mathematics knows no bounds, with her investing two years of her life in grasping the intricate concepts of partial differential equations during her leisure hours. The recent…
State Minister Ambassador Mesganu Arga of Ethiopia recently had a productive meeting with Simone Knapp, Ambassador of the Republic of Austria to Ethiopia on June 13, 2024. The meeting focused on strengthening the longstanding diplomatic relations between Ethiopia and Austria, with a particular focus on enhancing economic cooperation between the two countries. Ambassador Mesganu expressed optimism about the potential for further deepening the ties between Ethiopia and Austria through various collaborative efforts, especially in the economic sphere. This reflects a historical trend of friendly relations between the two nations, dating back to diplomatic exchanges that began in the mid-20th century.…
In a strategic move that has raised concerns among experts, Philip Morris quietly secured a significant stake in Egypt’s tobacco market through a series of secret dealings related to the IMF-led privatization process. Egypt, known for being one of the few countries with a growing cigarette market, faced economic turmoil, prompting President Abdel Fattah El-Sisi’s government to make a pivotal decision in April 2022. Traditionally, the sale of cigarettes in Egypt was under the purview of the state-controlled tobacco monopoly, Eastern Co. SAE. However, under mounting pressure from the IMF to privatize state assets, Egypt agreed to sell its controlling…
The United States has strengthened its sanctions on Russia, taking new measures to crack down on banks that engage with sanctioned entities. This expansion builds upon a program initiated in December that targeted foreign banks supporting Russia’s military actions in Ukraine. Additionally, the US has imposed sanctions on the Moscow stock exchange, prompting the suspension of trading in dollars and euros, as well as restricting Russia’s access to technology, such as chips and software. President Joe Biden signed an executive order last December that imposed sanctions on banks dealing with approximately 1,200 individuals and firms believed to aid Russia’s military…
In its pursuit of increased international economic policy participation and influence, Thailand hopes to become the first Southeast Asian country to join BRICS. BRICS is an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The Thai Cabinet validated the draft application letter on May 28, signifying the country’s intention to join the group. Although experts argue that the membership may offer Thailand only symbolic, rather than substantial benefits, the administration of Prime Minister Srettha Thavisin is pressing forward with the application. The plan is to submit it during a BRICS summit in October in…
South Africa is currently navigating a period of political upheaval, with the government yet to be formed two weeks after the elections. The African National Congress (ANC), a party deeply intertwined with the history of apartheid and championed by the iconic Nelson Mandela, has faced significant challenges during this electoral cycle. The ANC’s failure to secure a majority has prompted discussions of a ruling coalition, termed a government of national unity, which would be an unprecedented move for the party. The current ANC leader, President Cyril Ramaphosa, is at the forefront of these negotiations. While the possibility of a second…
A recent proposal by the African National Congress (ANC) in South Africa has sparked debate over its classification as a national universal basic income (UBI) program. The ANC, a political party historically associated with Nelson Mandela’s leadership, unveiled plans to expand the country’s Social Relief of Distress program, which was initially introduced during the pandemic to assist citizens in need. Despite the ANC’s claims, experts are quick to point out that the proposed program falls short of a true UBI initiative. Karl Widerquist, a philosophy professor from Georgetown University-Qatar, highlighted key shortcomings in the plan, including inadequate payment amounts, means-testing…
In the latest thread of diplomatic communications, Iran’s interim President, Mohammad Mokhber, and Russian leader Vladimir Putin engaged in a telephonic dialogue on Thursday. The strategic discourse primarily targeted impending collaboration in the energy and transportation sectors – a considerable move symbolizing the enhanced bilateral relations between Russia and Iran. In what could be viewed as a nod towards the historical spirit of détente between the two powerful nations, the conversation between President Mokhber and President Putin carried undertones of joint endeavors, echoing the rich legacy of bilateral diplomacy that dates back to the Treaty of Gulistan in 1813, a…
In a report issued by the MapBiomas environmental monitoring network, it is revealed that Brazil experienced a decline in deforestation by 11.6 percent in 2023, with a total loss of 1,829,597 hectares of native vegetation. This news emerges within the historical context of environmental conservation efforts, pointing to a possible trend of sustainability in the South American country. Subjects of the report were Brazil’s two largest ecosystems, the Amazon rainforest and the Cerrado, a tropical savanna. These two regions, which are of immense ecological significance, accounted for over 85 percent of Brazil’s total deforestation. In an unparalleled turn of events…