The International Monetary Fund praises the country’s economic policy management and economic resilience but warns about regional instabilities and climate challenges.
Browsing: Economy
Dubai-based logistics company, which has a terminal at the Port of Santos, announced the decision to open six new cargo-focused offices in Brazilian cities by 2026.
SINM, a mining company from the Arab country, had a loan of USD 150 million approved by the African Development Bank, which will help it expand the logistics of iron ore transportation.
Domestic production grew from January to November and is expected to reach 33.7 million tonnes by the end of 2024. Imports also increased over the period, but exports fell.
Oil is on track to become Brazil’s main export product in 2024. This will be the first time in history, according to data from the historical series that began in 1997.
The International Monetary Fund’s projection takes into account the resilience of the country’s maritime shipping sector, despite regional conflicts. The Port of Djibouti is the main driver of the local economy.
Exports of beef from Brazil increased by 9% in November, a lower percentage compared to previous months. The United Arab Emirates more than doubled its purchases.
The Central Bank of Libya has taken a series of measures in the foreign exchange market that are benefiting the economy, according to an analysis by the IMF. Disruptions in oil production led the institution to lower the country’s GDP growth forecast for 2024, but the estimate for 2025 has improved.
President Lula said during the Mercosur Summit in Montevideo that negotiations with the Arab country are progressing rapidly and are expected to be concluded by next year.
Oman’s Youth Center signed an agreement with Sohar Free Zone and Sohar Port to support the development of local young talents.
The Libyan market imported 1.6 million tonnes of iron ore from Brazil from January to October, a 60% increase compared to the same period last year. It is the largest volume in the current decade.
Brazil’s President Luiz Inácio Lula da Silva met with the CEO of the Abu Dhabi Investment Group, Zayed Bin Aweidha, on Wednesday (27) in Brasília. The meeting primarily focused on discussions about investments.
After challenges in recent olive harvests in major producing countries, expectations for a better harvest this season are opening up prospects for a larger global availability of olive oil. Tunisia is one of the countries expected to increase its production volumes. The country’s embassy in Brazil is taking steps to boost exports to the Latin American giant.
Sugar and mate round off the list of leading products sold by Brazil to the Arab country. Year-to-date exports surpassed the 2023 results by nearly 400%.
