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At the same time, Republican voters are warier of foreign conflicts and less interested in foreign policy than they have been during previous competitive primary elections, said Doug Heye, a Republican strategist. Republicans have often said that militants who support or carry out attacks on Israel will try to slip through the U.S.-Mexico border, despite scant evidence of it. He also said, without evidence, that Hamas militants were pouring over the U.S.-Mexico border. STRATEGY BRINGS RISKSRepublicans have drawn a link between national security and border security before, albeit in broader terms. Still, the immigration crackdown that Republican candidates have proposed is not without risk, said Ayres, the Republican pollster.

Persons: Jose Luis Gonzalez, Doug Heye, Whit Ayres, Nikki Haley, Donald Trump, Ron DeSantis, Trump, DeSantis, General, It's, Rob Godfrey, Haley, Ayres, You've, you've, Gram Slattery, Ted Hesson, Jason Lange, Ross Colvin, Howard Goller Organizations: U.S . Border Patrol, ATV, REUTERS, Rights, Republican, Republicans, U.S, Cato Institute, Florida, Border Patrol, Department of Homeland, U.S . Customs, DHS, ISIS, Thomson Locations: U.S, United States, Mexico, Sunland Park , New Mexico, Israel, America, Iowa, Gaza, Palestinian, Colombia, Colombian, California

☆ Brazil's Sao Paulo State Sweetens Railway Concession Proposal, Delays Auction
▼ + stars: | 2023-10-07 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Brazil's Sao Paulo state on Saturday sweetened the concession for the construction of a railway line connecting its capital to the city of Campinas and postponed the auction for the project, which is now earmarked at a cost of 13.5 billion reais ($2.6 billion). The bidding document for the public-private partnership linking the largest city in Latin America to Campinas, located 100 kilometers (62 miles) northwest of Sao Paulo, had been published in March. The state government, however, has now decided to raise its participation in the project to 8.5 billion reais, up from the previous 6 billion reais, it said in a statement. It also will reduce what it pays to the winning bidder during the 30-year concession to around 250 million reais, from 400 million reais. The winner will be whoever makes the lowest bid for payment by the state as part of an exchange-for-service provision.

Persons: Alberto Alerigi, Marcela Ayres, Paul Simao Organizations: Reuters Locations: Sao Paulo, Campinas, Latin America

☆ Brazil to call emergency meeting of UN Security Council over attack on Israel
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ammar Awad Acquire Licensing RightsBRASILIA, Oct 7 (Reuters) - Brazil's Foreign Ministry said on Saturday it would convene an emergency meeting of the United Nations Security Council following the biggest attack on Israel in years. Brazil, which assumed the rotating presidency of the UN Security Council this month, condemned the attacks in a public statement and expressed solidarity with the people of Israel. It also reaffirmed a commitment to a "two-state solution," with Palestine and Israel coexisting within mutually agreed and internationally recognized borders. The Palestinian Islamist group Hamas launched the largest attack on Israel in years on Saturday, killing at least 40 people and injuring hundreds. "The Brazilian government reiterates that there is no justification for resorting to violence, especially against civilians, and urges all parties to exercise maximum restraint to prevent an escalation of the situation," the Foreign Ministry said.

Persons: Ammar Awad, Israel coexisting, Benjamin Netanyahu, Marcela Ayres, Brad Haynes Organizations: REUTERS, Rights, United Nations Security, UN Security, Hamas, Foreign Ministry, Thomson Locations: Gaza, Sderot, Israel, Rights BRASILIA, Brazil, Palestine, Palestinian

☆ US faces pushback on plan to bolster IMF funding without shareholding changes
▼ + stars: | 2023-10-06 | by ( David Lawder | ) www.reuters.com time to read: +5 min

[1/2] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. Doing so, Ivory Coast President Alassane Ouattara said on Thursday, would "increase the voice and agency of member countries who are the most vulnerable" at the Fund. Martin Muhleisen, a former IMF strategy chief, said the plan "puts the Chinese on the spot to agree". A delay would be a major disappointment for the IMF after contentious 2019 negotiations left quota resources and shareholding untouched. "The Fund's not tight," said Mark Plant, a former IMF official now with the Center for Global Development.

Persons: Yuri Gripas, Joe Biden, Janet Yellen, Alassane Ouattara, Mark Sobel, Martin Muhleisen, Mark Plant, David Lawder, Andrea Shalal, Marcela Ayres, Peter Graff Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, World Bank, Reuters, U.S . Congress, U.S, Treasury, U.S . Treasury, Brazilian, Center for Global Development, Thomson Locations: Washington , U.S, U.S, China, India, Brazil, Marrakech, Morocco, Ukraine, Saharan Africa, Coast, Washington, Beijing, Brasilia

☆ Brazil's central bank seeks tighter cryptocurrency regulation, brokerage oversight
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Sept 27 (Reuters) - Brazil's central bank governor Roberto Campos Neto on Wednesday said policymakers are aiming to tighten cryptocurrency regulation and subject brokerages to their supervision. Speaking during a hearing in Congress, Campos Neto emphasized regulators will scrutinize the backing of cryptocurrencies and associated activities, given the significant surge in cryptocurrency imports by Brazilians. Data released by the central bank this week revealed cryptocurrency imports jumped by 44.2% from January to August compared to the same period last year, totaling $7.4 billion. "We understand that a lot is connected to tax evasion or linked to illicit activities," he added. Campos Neto also mentioned the Brazilian central bank's digital currency DREX, initially slated for launch by the end of next year, is expected to play a role in the world of crypto assets in Brazil.

Persons: Roberto Campos Neto, Campos Neto, Marcela Ayres, Chris Reese Organizations: U.S ., Thomson Locations: BRASILIA, stablecoins, Brazil

☆ Brazil's central bank employees escalate protests over career demands
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Sept 25 (Reuters) - Brazil's central bank employees said on Monday they would intensify work stoppages in protest of the government's alleged failure to address career improvement demands, a move that will impact the development of new initiatives at the bank. The National Union of Central Bank Employees (SINAL) said in a statement that this phase of the protest is expected to affect the timeline for launching the Brazilian central bank's digital currency, DREX, initially slated for late 2024. The central bank said it would not comment on the matter. Central bank authorities have been emphasizing the introduction of installment-based payments. The employees are advocating for central bank analysts to be treated as auditors, ensuring they receive compensation tied to productivity, similar to federal revenue auditors.

Persons: Marcela Ayres, Matthew Lewis Organizations: National Union of Central Bank Employees, Thomson Locations: BRASILIA, Central, Brasilia

☆ Trump’s indictments – and mug shot – are deepening his supporters’ anger and revving up their support
▼ + stars: | 2023-09-16 | by ( Kate Sullivan | ) edition.cnn.com time to read: +11 min

“And I love it because he has every right to be,” the South Dakota Republican said. “Everyone makes mistakes.”Like many other Trump supporters interviewed, Scott Akers of Alabama immediately pointed to Hunter Biden when asked about Trump’s mounting legal peril. ‘This country’s a powder keg’Intertwined with their outrage over the indictments, some Trump supporters are raising the specter of heightened political violence if Trump were to be convicted. Trump supporter Amanda Hamak-Leon and her boyfriend are seen at his Rapid City, South Dakota, rally on September 8, 2023. A vendor sells T-shirts featuring Trump's mug shot outside his Rapid City, South Dakota, rally on September 8, 2023.

Persons: Phil Jensen, Donald Trump’s, “, ” Jensen, Trump, ”, –, Corey Bonner of Texas, “ They’re, they’ve, haven’t, they’re, Carolyn McNeese, ” McNeese, Joe Biden’s, Hunter, Bobby Wilson, “ He’s, Jace Kirschenman, Corey Shawgo, Scott Akers, Hunter Biden, ” Akers, Joe Biden, Biden, David Weiss, we’ve ‘, Frank Yurisic, ” Yurisic, I’ll, Kate Sullivan, Trump’s, Jim Vanoy, Rachel Kleinfeld, Stewart Rhodes, Enrique Tarrio, Kleinfeld, Amanda Hamak, Leon, CNN Trump, Tucker Carlson, Mark Roling, ‘ I’m, ’ Trump, aren’t, Craig Shirley, Ronald Reagan, ” Shirley, “ They’ve, They’ve, ” Trump, “ I’m, I’m, ” Whit Ayres, GOP pollster, ‘, it’s, ” Ayres, Scott Olson, Go Brandon, ’ ”, Sam Smith, Smith, Let’s, Brandon, ” Hamak Organizations: CNN, South Dakota Republican, Trump, Republican Party, Alabama Republicans, Republicans, House Republicans, federal Justice Department, GOP, Trump’s Pennsylvania, Rep, Carnegie Endowment, International, Capitol, Fox News, Republican, Trump’s Rapid Locations: Rapid City , South Dakota, Atlanta, ”, Iowa , New Hampshire , Pennsylvania, Alabama, South Dakota, Texas, Pennsylvania, Erie, Trump’s, Washington, ” South Dakota, Rapid City, Manhattan, Iowa, Phoenix, Fulton

☆ India's 'freedom' takes precedence over being a U.S. ally, says think tank
▼ + stars: | 2023-09-08 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +3 min

watch nowIndia's relationship with the United States is the strongest it's been in years. Despite warming ties — with both leaders sharing a hug during Modi's state visit to Washington in May — a "traditional alliance" between the two nations remains off the table, according to the Council on Foreign Relations. "Obviously, this is an area where American foreign policy leaders would like to see something different given American concerns about Russia's war in Ukraine," Ayres highlighted. In May, Biden and Modi announced a slew of technology and defense deals, ranging from collaborating on diversifying supply chains to working together across space and artificial intelligence. "Technology generally has really been in the lead in improving this relationship," said Evan Feigenbaum, vice president for studies at the Carnegie Endowment for International Peace.

Persons: Joe Biden, Narendra Modi, Alyssa Ayres, Ayres, CNBC's, … That's, Biden, Modi, Evan Feigenbaum Organizations: Indian, Group, Foreign Relations, Council, India's, White, Bloomberg, Getty, Carnegie Endowment, International Locations: United States, New Delhi, Washington, India, Pakistan, South Asia, Russia, Ukraine, Delhi, Moscow, U.S

☆ India doesn't want to be a 'traditional' U.S. ally, think tank says
▼ + stars: | 2023-09-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia doesn't want to be a 'traditional' U.S. ally, think tank saysAlyssa Ayres, adjunct senior fellow at the Council on Foreign Relations, says India is a "very independent" country, and the traditional alliance relationship the U.S. has with other countries "creates an almost unexpectable level of deference on the part of the other country."

Persons: Alyssa Ayres Organizations: India, Council, Foreign Relations Locations: U.S, India

☆ Brazil eyes tax perks for energy sector, sparking 'green' vs oil debate
▼ + stars: | 2023-08-31 | by ( Marcela Ayres | ) www.reuters.com time to read: +4 min

Last year, more than 500 qualified energy projects received some 9 billion reais ($1.85 billion) in tax exemptions. However, senior officials at the Mines and Energy Ministry are pushing to broaden the incentives to include oil refineries and fuel storage facilities. Energy Ministry officials have argued that targeting tax benefits too narrowly would curtail oil and gas investments, calling in a technical note to expand incentives to oil and natural gas exploration, production and transportation. The Energy Ministry did not immediately respond to a request for comment. Brazilian state-run oil firm Petrobras (PETR4.SA) has forecast oil production for the next four decades, even as it ramps up investments in renewable energy.

Persons: Adriano Machado, Luiz Inacio Lula da Silva's, Lula, Marcela Ayres, Brad Haynes, David Gregorio Our Organizations: National, REUTERS, Petroleo Brasileiro SA Petrobras Follow, Reuters, Finance Ministry, Mines and Energy Ministry, Finance, Energy Ministry, Mines, Investments, Petrobras, PETR4, Thomson Locations: Brasilia, Brazil, Petroleo Brasileiro SA Petrobras Follow BRASILIA, Ukraine, biorefineries, divestments

☆ Australia wants normalized trade ties with China — but only after all trade curbs are dropped
▼ + stars: | 2023-08-28 | by ( Clement Tan | ) www.cnbc.com time to read: 1 min

Australia wants trade ties with China to be normalized, but Beijing must first remove the remaining trade curbs, said Australia's assistant minister for trade told CNBC. Canberra is in dialogue with its largest trading partner to drop tariffs on Australian wine imports that were introduced in March 2021. At the peak of diplomatic tensions in 2020 and 2021, Beijing slapped import tariffs on several Australian exports, from wine and red meat to lobsters and timber. "That is a good outcome, but I want to see — and the Australian government wants to see — trade with China return to normal and to be stabilized across the board," Tim Ayres told CNBC's Martin Soong in an interview on the sidelines of the B20 summit in New Delhi over the weekend. "Until we remove all of those impediments, it's not possible to say that the trade is back to normal," Ayres added.

Persons: Tim Ayres, CNBC's Martin Soong, Ayres Organizations: CNBC, Canberra Locations: Australia, China, Beijing, New Delhi

☆ Australia's trade with China won't return to normal until restrictions are removed, minister says
▼ + stars: | 2023-08-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia's trade with China won't return to normal until restrictions are removed, minister saysTim Ayres, Australia's assistant minister for trade, also discussed the nation's ongoing talks with the EU as well as its critical minerals strategy.

Persons: Tim Ayres Organizations: EU Locations: China

☆ Abortion politics take center stage after Biden campaign capitalizes on GOP debate rift
▼ + stars: | 2023-08-26 | by ( Arit John | ) edition.cnn.com time to read: +8 min

The GOP divide was laid bare on the debate stage this week, as candidates backed a 15-week abortion ban, deferred to the states or tried to split the difference. “There’s no real consensus at this point.”Biden’s reelection campaign has also homed in on remarks GOP candidates made on abortion during the debate. The ad, aimed at women in seven battleground states, is part of a $25 million ad campaign CNN first reported earlier this week. Republicans have begun to coalesce around the idea of a federal abortion ban after 15 weeks of pregnancy. Pence used his remarks at the same conference to call on every GOP candidate to back a 15-week ban as a national standard.

Persons: Roe, Wade, Joe Biden’s, ”, Whit Ayres, “, ” Biden’s, Republicans “, Biden’s, Donald Trump, Donald Trump , South Carolina Sen, Tim Scott, Ron DeSantis, ” Biden, Julie Chavez Rodriguez, Dobbs, Jackson, Trump –, Georgia –, Tom Bonier, Bonier, they’ve, DeSantis, Susan B, Anthony Pro, ” Marjorie Dannenfelser, Kellyanne Conway, Nikki Haley, Asa Hutchinson, Doug Burgum, Mike Pence, Scott, Pence, CNN’s Dana Bash, Trump, ” Trump, Ayres, they’ll Organizations: CNN, Republican, GOP, Democratic, Republicans, ” CNN, Florida Gov, MAGA Republicans, Associated Press, NORC, for Public Affairs Research, Voters, Biden, America, Washington, Trump White House, UN Ambassador, South Carolina Gov, Arkansas Gov, Asa Hutchinson , North Dakota Gov, Thursday Fox, Trump, Freedom Coalition Locations: Donald Trump , South Carolina, Florida, U.S, Nevada , Arizona , Pennsylvania, Georgia, Arkansas, Asa Hutchinson , North

☆ Opinion | ‘They Are Not Going to Settle for the Second-Best Trump’
▼ + stars: | 2023-08-23 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +4 min

DeSantis saying he’s going to start “slitting throats” reminded me of Romney’s “severely conservative.” While DeSantis’s is a dangerous escalation of violent imagery, they both sound bizarre and unnatural. At a more fundamental level, Bateman wrote:It’s not at all clear that what most Republican voters (rather than donors) want is a mainstream and party credentialed version of Trump. The problem with this approach, Ayres continued, is that “the Always Trump voters are ‘Always Trump’ for a reason — they are not going to settle for the second-best Trump if they can get the real thing.”Geoff Garin, a Democratic pollster, wrote:There is no room for DeSantis or anyone else to outflank Trump on the right, where Trump has his most loyal base. Candidates can argue that Trump is insufficiently conservative on some issues, but that it not the point for Trump loyalists. Candidates can try to echo the ugliness of Trump’s rhetoric, but that too misses what really draws these voters to Trump.

Persons: Trump, Romney’s “, Bateman, It’s, Trump’s, ” David O, Sears, “, Archie Bunker, Whit Ayres, Republican pollster, DeSantis, RFK Jr, Ayres, Geoff Garin, MAGA, Frances Lee, ” Lee, ” Organizations: Yale, Harvard, Trump, Republican, Derby, Wimbledon, NPR, Ivy League, for Disease Control, Democratic, Trump loyalists, Republicans Locations: Ukraine, Princeton

Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?

Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London

☆ Why the Republican defense of Trump points to more turbulence ahead
▼ + stars: | 2023-08-22 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +20 min

In the Republican coalition, it is a moment that has culminated decades of change – and one that points to years of turbulence ahead. Overwhelming majorities of Republican voters dismiss the charges against Trump. In Gallup’s latest annual survey of trust in institutions, Republicans expressed less faith in 10 of the 16 measured. Veteran GOP pollster Whit Ayres points to another, more personal, reason so many GOP voters have discounted the charges against Trump. Trump is the Republican most effectively riding that wave now, but it seems unlikely to recede whenever he fades from the political scene.

Persons: Donald Trump, ”, Trump, Tresa Undem, –, Stormy Daniels, “ Trump, …, Ronald Reagan, “ There’s, Amy Fried, Goldwater, Reagan, Fried, Steve Bannon, Eric Plutzer, ” Plutzer, Hillary Clinton, “ Efrem Zimbalist Jr, Plutzer, “, MAGA, Undem, ” Trump, He’s, ” he’s, George Floyd, It’s, ” Robert P, Jones, winks, ’ Trump, ” “ MAGA, ” Jones, Daniel Cox, —, ” Cox, Chris Christie, Asa Hutchinson, Will Hurd, Hunter Biden, Cox, wasn’t Hunter Biden, Whit Ayres, ” Ayres, Donald Trump’s, aspersions, That’s, ’, Long Organizations: CNN, Republican, GOP, Trump, Whites, Bright Line, Republicans, CBS, University of Maine, Government, National Rifle Association, NRA, Penn State University, Institute for Democracy, Department, FBI, ABC, Justice Department, Pew Research Center, Gallup, Black, Religion Research Institute, White, American Enterprise Institute, Trump —, Prestige, Senate, Trump . Veteran GOP, “, Democratic Locations: “, Vietnam, stoke, Russia, Manhattan, Fulton County , Georgia, New York, Undem, America

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

Republican presidential candidate, Florida Governor Ron DeSantis, delivers remarks at the annual Christians United for Israel Summit (CUFI), at the Crystal Gateway Marriott in Arlington, Virginia, U.S., July 17, 2023. "Governor DeSantis has to change the dynamics," Eberhart said. DeSantis faces a crucial moment on Aug. 23 in Milwaukee at the first Republican debate of the 2024 campaign. "This is par for the course for DeSantis' campaigns," Ayres said. Republican Senator John McCain, for instance, fired almost all of his senior campaign staff in June 2007 before staging a comeback and ultimately clinching the 2008 Republican nomination.

Persons: Ron DeSantis, Kevin Wurm, Donald Trump, Generra Peck, James Uthmeier, Andrew Romeo, Dan Eberhart, Peck, Uthmeier, DeSantis, Eberhart, Joe Biden, Trump's, Wilbur Ross, Romeo, Robert Bigelow, Bigelow, Trump, David Polyansky, Whit Ayres, Ayres, John McCain, Gram Slattery, Alexandra Ulmer, Tim Reid, Ross Colvin, Will Dunham Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, REUTERS, Republican U.S, Republican, Democratic, Reuters, Trump, Thomson Locations: Arlington , Virginia, U.S, Florida, Milwaukee, Washington, San Francisco, Los Angeles

Republican presidential candidate, Florida Governor Ron DeSantis, delivers remarks at the annual Christians United for Israel Summit (CUFI), at the Crystal Gateway Marriott in Arlington, Virginia, U.S., July 17, 2023. "Governor DeSantis has to change the dynamics," Eberhart said. DeSantis faces a crucial moment on Aug. 23 in Milwaukee at the first Republican debate of the 2024 campaign. It is unclear what direction Uthmeier will take the DeSantis campaign as its new manager. "This is par for the course for DeSantis' campaigns," Ayres said.

Persons: Ron DeSantis, Kevin Wurm, Donald Trump, Generra Peck, James Uthmeier, Andrew Romeo, Robert Bigelow, Bigelow, Peck, Joe Biden, Trump, DeSantis, Romeo, David Polyansky, Dan Eberhart, Uthmeier, Eberhart, Wilbur Ross, Whit Ayres, Ayres, Gram Slattery, Alexandra Ulmer, Tim Reid, Scott Malone, Will Dunham Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, REUTERS, Republican U.S, Reuters, Republican, Democratic, Trump, Thomson Locations: Arlington , Virginia, U.S, Florida, Milwaukee, Washington, San Francisco, Los Angeles

☆ Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Aug 7 (Reuters) - Brazil's central bank forthcoming digital currency, set to launch next year, will be named DREX, it announced on Monday, aiming to use the currency to boost financial services. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials from the central bank previously predicted that the adoption of the Brazilian digital currency would commence by the end of 2024, following the completion of its testing phase. During a live discussion organized by the central bank, he emphasized that the development of DREX is primarily aimed at improving access to financial services in the country. "By enabling simple and reliable access to registered values through DLT technology, we reduce costs and democratize access to financial services," Araujo stated.

Persons: Fabio Araujo, Araujo, Marcela Ayres, Aurora Ellis Organizations: Thomson Locations: BRASILIA, Brazil

☆ How Retirement Plans Should Protect Employees From Themselves
▼ + stars: | 2023-08-06 | by ( Ian Ayres | Quinn Curtis | ) www.wsj.com time to read: 1 min

Journal Reports: Investing MonthlyWhat Inheritors of IRAs Need to Know About Required WithdrawalsBy Leonard SloaneA lot of taxpayers were confused, and missed taking RMDs when they should have. Fortunately for them, penalties have been waived.

Persons: Leonard Sloane

☆ Brazil central bank kicks off rate cuts more aggressively than expected
▼ + stars: | 2023-08-02 | by ( Peter Frontini | ) www.reuters.com time to read: +3 min

The bank's rate-setting committee Copom cut its Selic policy rate to 13.25%, as just 10 of 46 economists surveyed by Reuters had anticipated. Although Wednesday's policy decision was closely divided, Copom's policy statement signaled a shared outlook to keep up the pace of rate cuts in coming months. Wednesday's rate decision reflected a split among board members, with five votes in favor of the 50-basis-point cut and four votes for a more modest 25-basis-point cut. Finance Minister Fernando Haddad had called for a rate cut of 50 basis points earlier on Wednesday. Brazil's inflation target is 3% for both years.

Persons: we'd, William Jackson, Luiz Inacio Lula da Silva's, Roberto Campos Neto, Lula, Campos Neto, Fernando Haddad, Haddad, Copom, Peter Frontini, Marcela Ayres, Brad Haynes, Diane Craft Organizations: SAO PAULO, Reuters, Capital Economic, Finance, Fitch, Carolina, Thomson Locations: Brazil

BRASILIA, July 18 (Reuters) - Brazil's government is considering changes to the taxation of closed-end funds and shareholder payouts in order to shore up revenue in next year's budget, said three senior economic officials with direct knowledge of the matter. The government signaled on Tuesday it would propose a comprehensive income tax reform only after the Senate has passed a consumption tax reform that cleared the lower house of Congress this month. A more complex and structural reform, involving income tax exemptions, taxation of profits and dividends and reductions to payroll taxes, would be presented after the consumption tax reform clears the Senate, the sources said. "When the budget bill is sent, revenue measures to meet the targets must also be sent, and some of these measures will already appear in the proposal," said one of the sources. Closed-end funds offer favorable investment opportunities to wealthier Brazilians by taxing earnings only when they are distributed to investors.

Persons: Marcela Ayres, Bernardo Caram, Brad Haynes, Matthew Lewis, Richard Chang Organizations: Finance Ministry, Finance, Senate, Thomson Locations: BRASILIA, Brasilia

☆ Brazil's central bank prepares public consultation on cryptocurrency regulation
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, July 18 (Reuters) - Brazil's central bank announced on Tuesday its plans to launch a public consultation regarding the regulation of cryptocurrencies in the second half of this year. Specific measures will be taken to limit the risks associated with decentralized governance systems and to prevent investors from being exposed to these assets without appropriate levels of disclosure, said the central bank. The government of President Luiz Inacio Lula da Silva delegated the authority to regulate cryptocurrency services to the independent central bank from June 20. Despite this status, the central bank stressed the need for coordinated action among various regulators, such as the revenue service and the country's Securities and Exchange Commission (CVM). Reporting by Marcela Ayres; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Marcela Ayres, Steven Grattan Organizations: country's Securities, Exchange Commission, Thomson Locations: BRASILIA

☆ Brazil govt eyes sending income tax reform proposal to Congress
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, July 10 (Reuters) - President Luiz Inacio Lula da Silva's government will not wait for Brazil's Congress to finish voting on a tax reform related to consumption before submitting its proposal for an income tax reform, Finance Minister Fernando Haddad said on Monday. "I will need Congress to consider this second phase (of tax reform) along with the budget bill," said Haddad, referring to the budget proposal that, by law, the government must submit by the end of August. The measure still requires final passage in the Senate, with no date yet set for a vote. According to Haddad, a carbon credit bill is set to be presented to Congress in August. Additionally, the government has scheduled an official presentation to attract companies interested in making products labeled as "clean energy," Haddad said.

Persons: Luiz Inacio Lula da Silva's, Fernando Haddad, Haddad, Brazil's, Lula, Marcela Ayres, Mark Porter, Will Dunham Organizations: Finance, Workers ' Party, Thomson Locations: BRASILIA

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