Browsing: Brazil

BRICS currency, vision or pipe dream

China presently has the largest sum of foreign exchange reserves in the world. When its over US$ 3 trillion in reserves is added to the reserves of the other BRICS member states the questions as to why they cannot issue their own currency start to grow louder.

Talks of a common currency fizzled out as more pressing national and international matters eclipsed the idea. This year 2022 has seen renewed calls for a common reserve currency emerge once again. This time Russia is leading the call for the creation of a reserve currency that will be an alternative to the United States dollar as a mechanism for the settlement of international transactions.

Russia’s motive for making such a call is obvious, the country has been at war with Ukraine since February 2022. This aggression against Ukraine has earned Russia some of the most stringent economic sanctions in history. What has…

According to Statista, agriculture contributes at least 4% of the annual value added to the gross domestic product of Brazil. It accounts for at least 9% of the people who are employed and able to work. On the face of it reading numbers 4% and 9% seem like they are nominal until one considers the sheer size of the country of Brazil in terms of land mass. Brazil is one of the largest countries in the world in terms of land area. It sits on no less than 8.5 million square kilometres.

Of this land mass, approximately a third is used for agriculture. For perspective’s sake, Brazil is the fifth largest country in the world after Russia, Canada, China, and the United States. The Brazilian Report states that all the countries that make up the European Union would fit inside Brazil’s borders!

To bring the perspective much closer to home, …

The current large-scale transition of the global economy, principally triggered by the current conflict between Ukraine and Russia as well as the standoff between China and the United States, creates a multipolar world map with new centres of power.

Brazil, Russia, India, China, and South Africa, also known as the BRICS nations, have enhanced industrial and financial might and are pushing for a seat at the global new power axis table. These nations are essential participants in international markets for products, services, and money, having a considerable, sometimes decisive, effect on how the global economy operates.…

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  • The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022
  • Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe and Guinea Bissau
  • Rita Freis said that this is the last year that the government will grant a tolerance for traders to label food products in Portuguese

The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022.

Rita Freitas, the national inspector at the National Inspection of Economic Activities (INAE), announced this during a training seminar on the legal system of package labelling of food products.

Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe …