According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
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The Brazilian gross domestic product grew compared to the same period last year. Compared to the last quarter of 2023, it rose by 0.8%, above market expectations. Industry and services posted growth, but agriculture was down.
Three protocols of intent were signed during a trip of Brazilian vice president Geraldo Alckmin to Saudi Arabia. Delegation features ministers, high-ranking officials, and business representatives.
As new refinery started operating at full capacity, the Arab country announced it reached a record 1.8 million barrels per day output.
The Arab country’s government has decided to raise the price of subsidized bread for the first time in 30 years. Some 71 million benefitted from bread subsidies, but the burden was unsustainable for state coffers.
An International Monetary Fund staff team has released an end-of-mission statement on the country’s economy saying investment in green growth opportunities could boost Brazil’s economic potential.
Brazilian industry group CNI worked together with industry associations to identify 85 restrictions from other countries that hinder Brazilian exports.
Steel-producing companies announced they aim to make these investments by 2028. This comes after a series of measures in favor of the Brazilian steel industry.
Saudia announced the largest aircraft deal in Saudi history on Monday (20). Arab country has invested heavily in aviation.
IMF report says the foreign demand for real estate, international ties and the Arab country’s safe haven status drive rapid growth in house prices and an increase in rents.
After a visit to the country and discussions with Kuwaiti authorities, the International Monetary Fund says the economy is projected to contract by 1.4% in 2024.
Processes that are now conducted via Siscomex LI/DI system will be carried out via the Foreign Trade Single Window starting October. Migration will be gradual, and the old tool will only be fully deactivated in late 2025.
Brazilian manufacturer celebrated the delivery of the 1,800th E-Jet production aircraft. The jet was received by lessor Azorra and will be operated by the Royal Jordanian Airlines.
Humanitarian situation in the Arab country remains difficult with over half of the population facing food insecurity, and a contracted economic activity caused by the halt in oil exports.
