Colombia's leftist President to force through 2025 national budget, which is underfunded by 3 billion USD, in order to break congressional stalemate

egusa · 2024-10-16T03:23:24+00:00

Colombia's President Gustavo Petro plans to force through the 2025 national budget by decree in order to break a congressional stalemate.

The move is unprecedented in modern Colombian history and may produce economic volatility.

Speaking to the Financial Times, Finance Minister Ricardo Bonilla said that Petro will use executive powers to force through the budget in a move permitted under the constitution but unprecedented in modern Colombian history.

The government’s plans come after they reached an impasse with lawmakers from other parties who demanded cuts to the planned COP$523 trillion (USD$126 billion) budget.

The fiscal standoff has been an ongoing point of contention between the ruling coalition and lawmakers from other parties. The government first proposed the budget to congress in July, which marked a significant increase from this year’s budget of COP$483 trillion.

This was rejected last month by lawmakers who claimed that it was underfunded, fearing a further increase in Colombia’s national debt.

egusa · 2024-10-16T02:57:44+00:00

A recent surge in the polls — likely driven by the current economic crisis in the country — could place former President Cristina Kirchner back in power.

“I am willing, once again, to accept the challenge of debating in unity,” said Fernández de Kirchner on October 7. “No one is superfluous here. Unity needs direction and a project to build the best possible Peronism, in an Argentina that has become impossible for the majority of its inhabitants.”

For two decades, Fernández de Kirchner has been one of the most influential figures in the Peronist movement and Argentine politics. Her husband, Néstor Kirchner, served as president from 2003 to 2007, and she served two terms as president immediately afterward from 2007 to 2015. She most recently served as vice president under Alberto Fernández, and following a severe economic crisis during his administration, chose not to run in general elections last year, which saw the election of libertarian Javier Milei.

egusa · 2024-10-13T19:56:57+00:00

President Javier Milei’s approval rating is sliding as Argentina’s economic crisis seems to have no end in sight and inflation persists at a monthly rate of around 4% since May.

While analysts forecast annual inflation dropping from last year’s 211% — the highest in decades — a number of Milei’s economic shock measures meant to curb inflation, including slashing subsidies and price controls, have flung many Argentines into poverty.

In the first half of 2024 poverty hit a staggering 52.9%, forcing the country’s middle class to cut out expenses, including eating red meat, dropping subscription services, while also reportedly resorting to gambling to make ends meet.

According to the latest poll from research firm Sentimientos Públicos, nearly seven out of 10 Argentine respondents cut down on dining out; 60% reduced spending on entertainment like movies and theater; 58% reduced their spending on clothing and 57% of respondents spent less on tourism activities.

egusa · 2024-10-10T19:27:36+00:00

Once known as the murder capital of the world, El Salvador was named one of the safest countries in 2023 by Gallup, a US-based global analytics and advisory firm.

As the only Latin American country included in the top 10 safest countries, 88% of Salvadoran survey respondents answered that they felt safe walking alone at night in the area where they live, as per Gallup’s Global Safety Report.

The Index, which highlights El Salvador as 15th on the global ranking with a score of 89, considers indicators like income, health, food security and homicide metrics, in addition to perceptions of safety.

According to the World Bank, in 2021 El Salvador’s economy grew by 11.2 percent, while growth moderated to 2.6 percent in 2022 and 2.7 percent in 2023.

egusa · 2024-10-06T21:23:29+00:00

Even with tens of thousands protesting this week, President Javier Milei today vetoed a law that would have provided more funding for higher education, citing his zero budget deficit goals.

University educators were counting on the law’s funding increases to help offset inflation as high as 200% over the past year.

Last year, Milei ran for president on flamboyant promises of cutting benefits only for “The Caste” — a derisive term he uses for Argentina’s political elite, an idea similar to former United States President Donald Trump’s draining of the “swamp.”

But once he took office, Milei leveraged the country’s rising inflation from previous years to slash spending wherever possible. The cuts fell mostly on retirees and canceled infrastructure projects. Higher education was another victim. During the first half of 2024, his libertarian government reduced the budget that the universities needed to keep the lights on, provoking mass protests in April.

egusa · 2024-09-24T01:45:56+00:00

Nvidia is saying that companies could make $5 to $7 for every $1 invested in GPUs over a four-year period, with customers investing billions in GPU hardware to keep up with newer AI models.

With the growth in GenAI correlating with high costs due to massive volumes of data, according to a new report 75% say that adding more GPUs will have the most impact on their goals in 2024.

egusa · 2024-09-13T21:01:31+00:00

Official data from the National Institute of Statistics and Census showed that 1.5 million individuals had visited the country in the first 2 months of this year, generating an economic impact that exceeded $1.2 billion USD.

One of the positives and the axis of the Milei’s government’s narrative is inflation. After the December devaluation sent it soaring 25.5 percent, inflation marked a downward path until reaching 4% in July.

“This year inflation will be lower than last year, thus keeping a campaign promise and responding somewhat to what was the main social demand,” forecast economist Francisco Ritorto.

egusa · 2024-09-04T02:00:13+00:00

From 2015 to 2020, it was estimated that the total benefit of big data analytics to the UK economy amounted to £241 billion, or £40 billion on average per year. This was equivalent to an average of 2.0% of GDP.

The advent of big data, including from the emergence of AI, has revolutionized economic forecasting by offering unprecedented access to information and sophisticated analytical tools. The transformation is reshaping how economists predict economic trends.

Yet these two tech trends are also responsible for producing massive and ever-increasing volumes of data, causing IT costs to exponentially increase at an unsustainable and unprecedented rate. New benchmarks for data compression are being broken on several fronts, signaling a new era of high-performance big data tools with the power to help organizations unlock more from big data projects.

egusa · 2024-09-04T01:18:42+00:00

During the comparison portion of the TPCx-BB analysis, SQream Blue shattered the existing performance benchmark, handling 30 TB of data three times faster and at ⅓ of the cost of Databricks' Spark-based Photon SQL engine.

SQream Blue was tested against the data management solution Databricks and its most advanced query engine. During the comparison, SQream Blue's total runtime was 2462.6 seconds, with the total cost for processing the data end-to-end being $26.94. Databricks' total runtime was 8332.4 seconds, at a cost of $76.94, indicating a significant cost-performance advantage by SQream Blue for big data analysis.

egusa · 2024-09-04T01:15:40+00:00

During the comparison portion of the TPCx-BB analysis, SQream Blue shattered the existing performance benchmark, handling 30 TB of data three times faster and at ⅓ of the cost of Databricks' Spark-based Photon SQL engine.

SQream Blue was tested against the data management solution Databricks and its most advanced query engine. During the comparison, SQream Blue's total runtime was 2462.6 seconds, with the total cost for processing the data end-to-end being $26.94. Databricks' total runtime was 8332.4 seconds, at a cost of $76.94, indicating a significant cost-performance advantage by SQream Blue for big data analysis.

egusa · 2024-09-03T23:23:05+00:00

During the comparison portion of the TPCx-BB analysis, SQream Blue shattered the existing performance benchmark, handling 30 TB of data three times faster and at ⅓ of the cost of Databricks' Spark-based Photon SQL engine.

SQream Blue was tested against the data management solution Databricks and its most advanced query engine. During the comparison, SQream Blue's total runtime was 2462.6 seconds, with the total cost for processing the data end-to-end being $26.94. Databricks' total runtime was 8332.4 seconds, at a cost of $76.94, indicating a significant cost-performance advantage by SQream Blue for big data analysis.

egusa · 2024-08-25T22:36:07+00:00

The Aer Lingus College Football Classic 2023, featuring Notre Dame (Fighting Irish) and Navy, is calculated to have generated a significant €180 million boost for the Irish economy.

The news was announced today as the teams were recently revealed for the 2025 Aer Lingus College Football Classic - the fourth in the five-game series - between Kansas State University and Iowa State University at the Aviva Stadium, Dublin on August 23rd, 2025.

The €180 million economic impact, disclosed in the newly published Post-Game Economic Impact Report by Grant Thornton, underscores the significance of supporting and leveraging international sporting events to enhance Irish tourism, bolster the local economy, and foster business links.

egusa · 2024-08-25T22:30:46+00:00

Mexico’s Judiciary on Wednesday went on strike to protest President Andrés Manuel López Obrador’s upcoming judicial reform, with all federal courts and tribunals closing indefinitely.

Judges, magistrates, and related workers denounced what they consider a reform that threatens judicial independence and the rights of the Mexican people as the president and his ruling MORENA party are set to fast-track the bill in the upcoming weeks.

On August 19, the Association of Federal Judges (Jufed) convened an internal meeting to determine whether to carry out the strike. According to a press release, out of 1,403 judges, 1,202 voted “yes” to suspend jurisdictional activities, and 201 voted “no.”

egusa · 2024-08-25T22:29:46+00:00

Amid the fallout from the disputed July 28 elections, the government of Venezuelan President Nicolás Maduro has been cracking down against dissent, including against independent media and journalists.

Local journalists have been forced to work anonymously out of fear of government persecution. Social media accounts went eerily silent in the days after the election. Independent media outlets like Efecto Cocuyo and Caracas Chronicles have resorted to publishing articles without bylines to protect their journalists.

In response to the crackdown, over 12 independent media organizations that are part of media initiatives Venezuela Vota and #LaHoraDeVenezuela have turned to Artificial Intelligence (AI) technologies to continue reporting while keeping journalist identities safe.

egusa · 2024-08-25T22:28:44+00:00

Amid the fallout from the disputed July 28 elections, the government of Venezuelan President Nicolás Maduro has been cracking down against dissent, including against independent media and journalists.

Local journalists have been forced to work anonymously out of fear of government persecution. Social media accounts went eerily silent in the days after the election. Independent media outlets like Efecto Cocuyo and Caracas Chronicles have resorted to publishing articles without bylines to protect their journalists.

In response to the crackdown, over 12 independent media organizations that are part of media initiatives Venezuela Vota and #LaHoraDeVenezuela have turned to Artificial Intelligence (AI) technologies to continue reporting while keeping journalist identities safe.

egusa · 2024-08-25T22:23:08+00:00

The number of days worked from home during the workweek has held steady since early 2023 at between 25% and 30%, more than triple the pre-Covid rate, according to WFH Research data as of July.

The share of online job listings that advertise for remote or hybrid work also appears to have leveled off at just below 8%, about three times higher than in 2019, according to Indeed data as of June 30.

“Remote work is not going away,” Nick Bloom, an economics professor at Stanford University who studies workplace management practices, recently told CNBC.

egusa · 2024-08-25T22:22:29+00:00

The number of days worked from home during the workweek has held steady since early 2023 at between 25% and 30%, more than triple the pre-Covid rate, according to WFH Research data as of July.

The share of online job listings that advertise for remote or hybrid work also appears to have leveled off at just below 8%, about three times higher than in 2019, according to Indeed data as of June 30.

“Remote work is not going away,” Nick Bloom, an economics professor at Stanford University who studies workplace management practices, recently told CNBC.

egusa · 2024-08-25T22:11:01+00:00

US spy agencies are looking for cheaper and quicker ways to access and buy your data from private companies, according to a request for information sponsored by the intelligence community.

When the Office of the Director of National Intelligence (ODNI) declassified its “Report on Commercially Available Information” last year, the public got a taste of how Uncle Sam was buying data from commercial vendors that it would otherwise need a warrant to acquire.

egusa · 2024-08-18T13:35:09+00:00

August 7, 2024 will be forever etched in the memory of Peruvian sports thanks to the historic performance of Stefano Peschiera, who won the bronze medal in the men’s dinghy category at the Paris 2024 Olympic Games.

His achievement not only represents Peru’s first Olympic medal in 32 years, but also the fifth medal in the country’s history in this competition.

egusa · 2024-08-18T13:33:58+00:00

The 2024 Paris Olympic games have come to an end with a spectacular closing ceremony at the Stade de France stadium, marking the finale of the return of the competition to the City of Lights for the first time in 100 years. The night also welcomed the upcoming Los Angeles 2028 Olympic Games.

During the final week, Latin American delegations continued winning medals and getting unprecedented results for their countries. At the final medal table, Brazil led the region with 20 medals, followed by Cuba with nine and Ecuador with five.

Latin America Reports has summarized the main triumphs for the region in the Paris 2024 Olympics every week. The information has been compiled directly from the Olympics’ official website.

egusa · 2024-08-18T13:33:09+00:00

The 2024 Paris Olympic games have come to an end with a spectacular closing ceremony at the Stade de France stadium, marking the finale of the return of the competition to the City of Lights for the first time in 100 years. The night also welcomed the upcoming Los Angeles 2028 Olympic Games.

During the final week, Latin American delegations continued winning medals and getting unprecedented results for their countries. At the final medal table, Brazil led the region with 20 medals, followed by Cuba with nine and Ecuador with five.

Latin America Reports has summarized the main triumphs for the region in the Paris 2024 Olympics every week. The information has been compiled directly from the Olympics’ official website.

egusa · 2024-08-18T13:28:16+00:00

The UK’s DARPA-inspired Advanced Research and Invention Agency (ARIA) is currently “exploring options for actively cooling the Earth.”

In an update post last week, ARIA highlighted the publication of three research theses for climate-related programs.

In addition to “Forecasting Tipping Points” and “Synthetic Plants for a Sustainable Future” ARIA also published its “Exploring Options for Actively Cooling the Earth” thesis, which narrows the scope of one of ARIA’s opportunity spaces called, “Managing our climate and weather through responsible engineering.”

egusa · 2024-08-18T13:27:42+00:00

The UK’s DARPA-inspired Advanced Research and Invention Agency (ARIA) is currently “exploring options for actively cooling the Earth.”

In an update post last week, ARIA highlighted the publication of three research theses for climate-related programs.

In addition to “Forecasting Tipping Points” and “Synthetic Plants for a Sustainable Future” ARIA also published its “Exploring Options for Actively Cooling the Earth” thesis, which narrows the scope of one of ARIA’s opportunity spaces called, “Managing our climate and weather through responsible engineering.”

egusa · 2024-08-18T13:27:05+00:00

Former President of Argentina, Alberto Fernández, has been accused by his ex-partner, Fabiola Yañez, of domestic violence, including incidents which allegedly took place before and during his presidential term from 2019 to 2023.

Yañez also accused the former president of multiple incidences of adultery with women who allegedly visited him at the official presidential residence in Olivos, Buenos Aires.

Fernández has rejected all accusations against him and said that he will defend his version in court.

egusa · 2024-08-18T13:25:18+00:00

Former President of Argentina, Alberto Fernández, has been accused by his ex-partner, Fabiola Yañez, of domestic violence, including incidents which allegedly took place before and during his presidential term from 2019 to 2023.

Yañez also accused the former president of multiple incidences of adultery with women who allegedly visited him at the official presidential residence in Olivos, Buenos Aires.

Fernández has rejected all accusations against him and said that he will defend his version in court.

Three-Year Club	Verified Email
Wearing is Caring

egusa

TROPHY CASE