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Lula Courts Congress Allies as Milei Feud Deepens

Brazil's Lula courts party leaders for neutrality as diplomatic ties with Argentina hit a new low over Milei's insults. The post Lula Courts Congress Allies as Milei Feud Deepens appeared first on The…

  • Lula meets with Republicanos and Podemos leaders on August 4
  • Senate President Davi Alcolumbre pushes for neutrality in key states
  • Lula's 26 state platforms vs. Milei's 16 platforms give him structural advantage

Business

Chile Unemployment Steady at 9.4% in April–June 2026

INE reports 9.4% unemployment and 27% informality for Chile's April–June 2026 quarter, pressuring President Kast's economic agenda.

  • Chile's unemployment rate remained steady at 9.4% for April–June 2026.
  • 27.0% of Chile's workforce was engaged in informal employment.
  • President Kast's administration faces pressure to address economic challenges.

Finance & Markets

Argentina RIGI: BCRA Eases FX Access for Insurers

The central bank's new rule lets insurers buy dollars for reinsurance on RIGI projects, but only with funds traced to approved foreign financing.

  • Central bank eases foreign exchange access for Argentine insurers on 10 August 2026
  • Applies to Régimen de Incentivo para Grandes Inversiones (RIGI) projects
  • Insurers can use project funds only through dedicated Single Project Vehicle accounts

Culture

Obon: Japan’s Summer Festival for Honoring Ancestors

The summer festival of Obon ranks alongside New Year in its importance in the Japanese calendar. It is a time when families get together to honor ancestors and visit their graves, and it is also known…

  • Obon festival honors ancestors in Japan, August 13-16
  • Gozan Okuribi involves bonfires on five Kyoto mountains
  • Bon dances, like Awa Odori, are summer festival traditions
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