Latin America : News , Updates & Discussions.

MiG-29SMT

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Last November, a group of Caribbean dignitaries departed from Barbados and Miami in two private jets headed for Riyadh. Following the inaugural CARICOM-Saudi Arabia Summit, they returned with a $2.5 billion investment commitment for Caribbean development. The pledge, announced by Guyana’s President Irfaan Ali, was one of many outcomes from the high-profile gathering.

The agreement to increase investment in a cash-strapped region came along with the 15-member bloc’s support for Saudi Arabia’s bid to host World Expo 2030, which the kingdom won easily later that month over South Korea and Italy.

Cooperation may play out on an even larger scale as Saudi Arabia seeks further investment opportunities at its first Priority Summit in Latin America from June 11-13 in Rio de Janeiro. The Future Investment Initiative (FII) Institute, whose founding partner is the kingdom’s $925 billion sovereign wealth fund, is set to gather industry leaders, government officials, and several former Latin American heads of state. Earlier this year, the FII Institute also held the second edition of Priority Summit Miami, part of the kingdom’s mission to become a major force in Latin America’s business sphere.

“You see the Saudis being much more aggressive in strengthening ties around the world… and Latin America is certainly part of that,” Gerald Feierstein, former U.S. ambassador to Yemen and current director of the Middle East Institute’s Arabian Peninsula Affairs Program, told AQ.

Accustomed to spending lavishly around the world, Saudi Arabia’s moves in the region have been met without much fanfare but signal broad ambition. The kingdom is considering a production line for some of Brazil’s Embraer airliners and is mulling opening an embassy in Colombia. Aramco, its national oil company, recently acquired a Chilean fuel retailer. And last August, Investment Minister Khalid Al-Falih toured seven nations in the region “with the aim of exploring opportunities to strengthen and deepen investment partnerships.” Like China, India, and the European Union, the kingdom is chasing a more significant footprint in the hemisphere, hoping to secure raw materials, market access and investment opportunities.

Pivoting on its longstanding ties with Brazil while making inroads in other parts of the region, the kingdom’s increasing interest in the Western Hemisphere comes as it pursues Vision 2030, a plan launched in 2016 by Crown Prince Mohammed bin Salman to diversify the economy away from oil and harness investment.

Deepening Brazil ties
 

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Latin America labels ultra-processed foods. Will the US follow?
In 2010, Mexico led the way, followed by Ecuador, Chile, Peru, Uruguay, Argentina and Colombia
Candy lines every inch of the mercado de dulces in Mexico City’s historic center. Tantalizing strawberry-flavored chocolates and Tajín-covered mango gummies pack the narrow aisles of the meandering marketplace. But many of the colorful packages are somewhat dampened by black stop signs printed on their fronts. Alongside dreamy descriptions of creamy and chocolatey confections, the stop signs warn “Excess calories” or “Excess sugars”. For some customers, the warnings are enough for them to pause and reconsider their purchases.

Latin America is leading the world in a movement to print nutritional warning labels on the fronts of food packages. Currently, the labels warn when a food product exceeds a consumer’s daily recommended value of any “nutrient of concern” – namely, sugar, salt or saturated fat (some countries have added trans fats, artificial sweeteners and caffeine). But research led by scientists across the continent is increasingly pointing towards another factor consumers may want to consider: how processed a food is.


Ultra-processed foods make up an increasingly large share of the average Latin American consumer’s diet. These industrially formulated products, which are often high in fats, starches, sugars and additives (like flavorings, colorings and preservatives), were first named and studied by Brazilian researchers in the early 2000s. Today, many Latin Americans get 20% to 30% of their daily calories from ultra-processed products (in the United States, the average is even higher – upwards of 60%). As the continent leads global research into the health impacts of ultra-processed foods, countries there are also taking steps to ensure labels end up on all ultra-processed products, warning consumers of these harms.

In the early 2010s, researchers at the Pan American Health Organization, a regional office of the World Health Organization, began discussing the possibility of using front-of-package labels to combat rising rates of non-communicable diseases in the region.

“The initial proposals for front-of-pack labeling emerged because the information for consumers based on the nutrition facts table” was “completely insufficient for consumers to have a quick and easy understanding”, said Fabio Da Silva Gomes, the regional adviser on nutrition and physical activity for the Americas at the PAHO.

 

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ISTANBUL

Brazil’s economy annually grew 2.5% in the first quarter of this year, compared to the same period of 2023, according to figures released Tuesday by the Brazilian Institute of Geography and Statistics (IBGE).


The figure was higher than the estimate of a 2.2% increase, while South America's biggest economy annually expanded by 2.1% in the fourth quarter of 2023.

The industry and services sectors expanded 2.8% and 3% year-on-year, respectively, but the agriculture sector contracted 3% on an annual basis, according to the IBGE figures.

On a quarterly basis, South America’s biggest economy expanded 0.8% in the January-March period of 2024, compared to the October-December of 2023.

While that figure came in line with market expectations, it showed a strong recovery from the 0.1% quarterly contraction in the fourth quarter of last year.

In the first quarter of this year, the agriculture sector managed to see an expansion of 11.3%, followed by the services sector with a gain of 1.4%.
 
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MiG-29SMT

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36.3 percent of Mexicans live in poverty, this figure represents a drop of 7.6 percentage points compared to the 2020 measurement, according to Coneval figures.
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Honestly I think more people live in poverty
 

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Venezuelan gang’s arrival shakes Latin America’s safest nation
Violent Tren de Aragua gangsters bring kidnappings and killings to relatively safe and prosperous Chile
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The grand Beaux-Arts Portal Fernández Concha building was once a fashionable hotel in downtown Santiago. Now, the 19th-century property in Chile’s capital has become the face of the country’s gang-driven crime wave. As Venezuela’s Tren de Aragua gang made its first push into Chile — one of Latin America’s safest and most developed economies — over the past five years, men alleged to be members of the gang turned rented rooms in the downtown building into the base for a sex trafficking ring. Police said they dismantled the operation in 2023, but on a recent afternoon, young women still hovered in the square outside, approaching passing men. “At the peak, we had 1,500 people entering every day,” said a security guard at the building. “I was seeing knife fights outside most weeks. I had never seen anything like it.”

 

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