Author: RT Staff Reporters

Rio Times Staff Reporters (RT Staff Reporters) is a team of reporters from Rio Times covering local news from Brazil as well as international stories making headlines.

Welcome to The Rio Times’ essential African news source, offering a snapshot of the continent’s top stories. U.S. Troop Withdrawal from Niger General Kenneth Ekman of Africom confirmed the imminent withdrawal of U.S. troops from Niger by early August, complying with local demands. Sudan and Iran Restore Diplomatic Ties After an eight-year break, Sudan and Iran resumed diplomatic relations, marking a significant shift in regional dynamics with ambassadorial appointments starting July 21, 2024. Angola’s Diamond Auction Success Angola’s Sodiam earned nearly 20 million euros from a rough diamond auction, with all 46 stones sold for vast sums. Failed Coup in…

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Today’s trading demands a keen eye on global data releases, influencing market dynamics. Despite a seemingly quiet day, investors must stay informed. Key events on Wednesday, July 24, include: Economic Calendar: Brazil: 8:00 AM: Entrepreneurial Confidence Index release 2:30 PM: Weekly Currency Flow data disclosure International Watch: 4:30 AM: Germany’s Composite PMI 5:00 AM: Eurozone’s Composite PMI 5:30 AM: UK’s Composite PMI 9:00 AM: Mexico’s Consumer Price Index 9:30 AM: USA’s Trade Balance and Composite PMI Wednesday’s Market Focus: Brazil and U.S. Yesterday’s Recap: Brazil: Ibovespa index down by 0.99% Iron ore and Brent crude oil prices decreased Key Stock…

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Welcome to The Rio Times African News Roundup! Stay informed with the most impactful stories from across the continent. Here are the latest updates making headlines: 1. EU and Cape Verde Extend Fishing Agreement The EU and Cape Verde have renewed their fishing partnership, allowing vessels from Portugal, Spain, and France to fish in Cape Verdean waters until 2029. 2. Landslide Tragedy in Southern Ethiopia A devastating landslide in Ethiopia’s Geze Gofa district claimed at least 229 lives, including rescue workers. Recovery efforts are hindered by difficult terrain. 3. Defense Cooperation Review Between Gambia and Senegal Gambia and Senegal are…

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The Brazilian stock market faced a decline, with the Ibovespa index dropping 0.99% to close at 126,589.84 points, marking a four-day loss of over 2%. The weakening Brazilian real and rising dollar, coupled with increased interest rates, have added to the economic turbulence. Despite recent government-led budget cuts, the market remains uncertain about Brazil’s fiscal stability. Revenue expectations were adjusted downwards, indicating ongoing fiscal uncertainties and potential financial target revisions. President Lula is reportedly gaining more public support amidst these challenges. The recent dip in the Ibovespa index serves as a natural correction after a significant increase from mid-June to…

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In Tuesday’s trading session, the Brazilian Real danced around the R$5.60 mark amidst global uncertainty. Investors, wary of Brazil’s fiscal situation, responded to shifts in emerging markets, resulting in a retreat from riskier assets. Concerns over China’s economic health had a ripple effect on commodity markets, causing iron ore prices to plummet. This downturn affected currencies beyond Brazil, including the Mexican peso and the South African rand. The commercial dollar ended the day with a 0.29% increase, settling at R$5.585 for buying and R$5.586 for selling. In futures, the DOLc1 contract rose by 0.31% to 5593 points. With no significant…

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Embraer experienced a roller coaster ride in the stock market recently, with a 7% dip followed by a 6.17% rebound the next day on the B3 exchange, reaching R$40.98. This fluctuation coincided with the Farnborough International Airshow, where Embraer showcased its capabilities and announced major new contracts. One significant deal involved the sale of six A-29 Super Tucano aircraft to Paraguay’s Air Force for $96 million, with deliveries scheduled to begin in 2025. At the same time, Embraer set an ambitious target of achieving $10 billion in revenue by 2030. The stock drop was tied to a separate agreement to…

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Embraer made headlines at the Farnborough Airshow with a major deal securing nine firm orders for their C-390 Millennium aircraft. Despite this positive news, their shares unexpectedly dropped by 7.03%, closing at R$38.60. Nevertheless, the company’s stock has surged over 70% in the past year. The deal involved the Dutch Ministry of Defence and Austria, potentially worth €1.7 billion, with analysts surprised by the substantial order volume. The surge in demand for Embraer’s military aircraft contrasts with softer expectations in the commercial sector. Investors, however, seemed to expect more from commercial aviation announcements. The new orders, worth an estimated additional…

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Market turbulence ensued on Monday as the U.S. dollar took a hit of 0.61% following the announcement of a major political figure withdrawing from the upcoming election. This news not only wiped out a 3% weekly gain but also sparked a focus on emerging markets like Brazil. In Brazil, efforts to tighten fiscal control included a freeze of R$15 billion in the 2024 budget to prevent deficits. The dollar’s value fluctuated throughout the day in response to these events, closing at R$5.569 for buying and R$5.570 for selling in the commercial market. Analysts anticipate a potential revitalization of the election…

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Welcome to The Rio Times’ essential African news source, offering an overview of the continent’s most impactful stories. From political reforms in Tanzania to economic developments in Nigeria and Mozambique, here are the top headlines shaping Africa. Tanzanian President Dismisses Key Ministers Amidst Political Reforms President Samia Suluhu Hassan of Tanzania has dismissed key ministers to drive reforms and enhance transparency. Nigeria Levies $220 Million Fine on Meta for Data Privacy Violations Nigeria imposes a $220 million fine on Meta for data breaches, signaling strong regulatory enforcement in Africa. Turkey to Enhance Naval Presence in Somalia Turkey plans to deploy…

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In the first half of 2024, Moscow exported 55.122 million tons of crude oil to China, worth $32.807 billion, despite Western efforts to isolate Russian energy. This marked a 4.81% increase from the previous year, solidifying Russia’s position as China’s top oil supplier. Amidst global tensions, Russia strategically pivoted to secure alternative markets, with China emerging as a key partner. China, the world’s largest crude oil importer, relies on stable energy sources for economic growth. The West’s sanctions on Russian energy backfired, intensifying recessions in countries like Germany. Russia’s ability to adapt and find new markets showcases its resilience and…

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