Brazil's Senate approves bill on cryptocurrencies
... cryptocurrencies was approved by Brazil's Senate during a plenary session, paving the way for official regulation of the world's ninth-largest economy. The bill needs approval from the Chamber of Deputies before it can be signed into law by President Jair Bolsonaro . It is likely that this will not happen until later this year. The bill, first introduced in 2015, allows the executive branch of Brazil to create rules on virtual assets. The bill still needs to decide if Brazil's central bank, Securities ...
Updated: 04/27/2022
Twitter says it’s investigating why some right accounts are losing followers
... the increased follower counts Tuesday. It's a fact that conservative accounts are getting huge follower increases today, Rep. Matt Gaetz , R-Fla. The bolstered follower counts of the right were not limited to the American right. Brazilian President Jair Bolsonaro, a right-wing populist, gained more than 90,000 followers in the day after Musk announced his plans.
Updated: 04/27/2022
Brazil's real suffers 2 days of heavy losses as dollar rallies
... the risks of a stronger monetary tightening by the Federal Reserve , but domestic issues have amplified the impact on the Brazilian currency since it began, and has been buoyed by the fact that it has had impressive gains since the year. President Jair Bolsonaro announced last Thursday he would pardon an allied federal congressman whom the Supreme Court had sentenced to nearly nine years in prison, raising tensions between the nation's executive and judiciary during an election year. Concerns about ...
Updated: 04/25/2022
Canada is a NATO laggard and hasn't met its commitments to spend 2 per cent of GDP on defence
... relationship between China and Pakistan, but is also a member of the Quad , a quasi-military intelligence organization founded by Japan, Australia and the United States. The vote by Brazil to condemn the invasion at the UN was contradicted by its president Jair Bolsonaro , who declared that he is in solidarity with Russia because he relies heavily on trade with China and fertilizers from Russia. A couple of weeks ago, U.S. Treasury Secretary Janet Yellen warned of the dangers of neutrality for China. Yellen ...
Updated: 04/25/2022
Brazil's economy in struggling mode next year
... This means that the central bank's target of 3.5% will be breached in 2022, despite having raised Brazil's rates to 11.75% from 2.0% last year, and forecasts that it will increase to 13.25% this quarter. Fiscal policy is in a quandary as President Jair Bolsonaro decides to make a salary raise to satisfy demands from the public servants without any progress in budget improvements. The investor fear that Bolsonaro may start to pump up spending to bolster his popularity and strengthen his chances against ...
Updated: 04/22/2022
Brazil's Bolsonaro criticizes WhatsApp's new feature
BRASILIA Reuters - Brazil's far-right President Jair Bolsonaro criticized WhatsApp's new feature, called Communities, until this year's presidential election is over. BRASILIA Reuters - Brazil's far-right President Jair Bolsonaro criticized WhatsApp 's new feature, called Communities , until this year's ...
Updated: 04/15/2022
Brazil sees 79.6% of GDP deficit in 2023
... country's commitment to fiscal responsibility is evidenced by better fiscal numbers after the record deficit posted on the back of the COVID 19 blow in 2020. Many analysts believe this year's presidential elections will take candidates, including President Jair Bolsonaro , who is seeking a second term, to bet on more populist rhetoric, leaving fiscal discipline aside.
Updated: 04/14/2022
Brazil's real may run out of gas as rate hikes, risks to China
... ahead for Brazil. Some officials doubt the trend will continue indefinitely after Brazil's Economy Ministry has trumpeted the jump in foreign investment and perks of a stronger currency for fighting inflation. The government of right-wing President Jair Bolsonaro , which generated huge initial optimism among investors, has had a mixed record on reforms as well as privatizing state assets. I haven't seen any structural factor, unfortunately. One official asked anonymity to give a frank assessment of the ...
Updated: 04/14/2022
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