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Straits Times
01-07-2025
- Business
- Straits Times
Brazil government challenges Congress' reversal of tax hike, escalating tensions
Brazil's President Luiz Inacio Lula da Silva walks on stage after giving a speech during the Blue Economy and Finance Forum (BEFF) at the Grimaldi Forum in Monaco, June 8, 2025. REUTERS/Manon Cruz/Pool/ File Photo BRASILIA - Brazil's government filed a lawsuit with the Supreme Court on Tuesday challenging Congress' decision to overturn a tax hike on financial transactions, heating up tensions between the branches of power as the administration seeks ways to meet fiscal goals. The government believes that lawmakers overstepped their constitutional powers and created legal uncertainty by reversing President Luiz Inacio Lula da Silva's decree raising the so-called IOF tax, Solicitor General Jorge Messias told reporters. Lula hiked the tax levied on certain credit, foreign-exchange and private pension plan operations in May as a way to boost revenue and limit spending freezes needed to comply with the government's fiscal framework. The move, however, sparked immediate backlash from lawmakers, who said they would not approve the tax hikes and last week dealt the government a major blow by ultimately nixing the decree. "If we hadn't made this move, we would be allowing interference from one branch of government into another," Messias said about the lawsuit. "Our approach is strictly legal, not political." The government had estimated that the IOF hike, already scaled back from an initial proposal for even higher rates, would generate an additional 12 billion reais ($2.20 billion) in revenue this year. Deputy Finance Minister Dario Durigan said earlier on Tuesday that the measure, along with some other fiscal proposals put forward by the government, would ensure compliance with the fiscal target this year and next. Latin America's largest economy aims to eliminate its primary deficit in 2025 and deliver a primary surplus of 0.25% of gross domestic product in 2026, though economists have voiced skepticism about its ability to reach those targets. "The reversal of the decree ends up affecting the economic and tax policy under responsibility of the head of the executive branch, and leads to a violation of the principle of separation of powers," Messias said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Insider
20-06-2025
- Business
- Business Insider
Mind Money Joins Global Leaders at IMpower 2025 With Breakthrough Weather Model
Leading European center for investment technologies and financial engineering Mind Money (CIF license 115/10) is joining over 1,500 industry leaders at IMpower FundForum 2025, taking place this week at the Grimaldi Forum in Monaco. The event brings together top names from asset and wealth management, including fund selectors, asset owners, and senior executives from the world's leading financial institutions. Representing Mind Money at the forum are Dr. Igor Isaev, Doctor of Technical Sciences, Head of the Analytics Center, Anastasia Volkova, analyst (LSE) and Ksenia Lazure, long-term client of the company and member of the Women's Club of Monaco. The team will be sharing insights from the company's standout innovation this year — a quantitative weather model, which was recently recognized as one of the world's top financial innovations by Global Finance Magazine. This award-winning model was named a laureate of the Global Finance: The Innovators 2025 award in the category Top Innovations in Finance – Western Europe. Built to track and model the impact of weather and climate on global commodity markets, the system is already being used to guide trades in calendar and inter-commodity spreads — helping Mind Money maintain six consecutive profitable years without a single losing year. 'Our goal was to create something that connects real-world weather patterns with real-time trading decisions,' says Dr. Isaev. 'From short-term events like sudden frosts or hurricanes to long-term shifts like drought cycles, the model helps us spot risks and opportunities early — before the market prices them in.' Anastasia Volkova adds, 'We're excited to share this innovation at IMpower FundForum and show how weather data can be a powerful tool for investors looking to manage risk and find new opportunities.' The model uses satellite data and global climate indicators to help predict how markets might move over time. It is created based on a mathematical method for modeling events with uncertain probability, which makes it especially useful for trading in markets affected by the weather — like natural gas, oil, grains, livestock, and other commodities. Performance data of the strategy is publicly available in the Bloomberg Terminal under FIGI: BBG00T87Z5T1. About Mind Money Mind Money (ex Zerich Securities) is a leading European investment technology hub headquartered in Limassol, Cyprus, and regulated by CySEC CIF License 115/10. Mind Money provides seamless access to stocks, exchange-traded funds, bonds on major stock markets, and opportunities for pre-IPO and IPO investments in the global markets. Established in 2010, Mind Money has evolved into a dynamic financial technology hub with a strong focus on innovation and data analytics.
The South African
18-06-2025
- Entertainment
- The South African
Princess Charlene attends 64th Monte-Carlo Television Festival
Prince Albert II and Princess Charlene graced the closing ceremony of the 64th Monte-Carlo Television Festival in Monte-Carlo. Held at the iconic Grimaldi Forum, the festival drew the world's television elite to the Riviera. The royal couple, ever the picture of elegance, took centre stage at the Crystal Nymph Award ceremony on 17 June. The highlight of the night was when American actress and producer Robin Wright received the coveted Crystal Nymph Award from Prince Albert himself, according to New My Royals. 'It's an honour to be recognised in a place that celebrates the power of storytelling,' Wright said. Princess Charlene, who has always championed women's causes, had also attended the Women with Purpose lunch the previous day. Organised by Swiss fashion house Akris, the event celebrated women striving for a fairer, more inclusive world. 'Empowering women is not just a trend. It's a necessity,' Princess Charlene remarked, drawing applause from an audience that included influential figures from across the globe. Founded in 1961 by Prince Rainier III as a tribute to Princess Grace, the Monte-Carlo Television Festival has become a must-attend event for the world's television industry. This year, the festival ran from 13 to 17 June, offering exclusive screenings, behind-the-scenes panels, and red carpet reunions. The Golden Nymph Awards are the heart of the festival, recognising excellence in fiction, documentaries, news, and environmental storytelling. This year, Sweden's Vanguard clinched the Golden Nymph for Best Series, while On a Day in September won Best Fiction Film. The Prince Rainier III Special Prize went to Rewilding Sharks , a nod to environmental innovation—a theme close to many South African hearts. AMADE awarded the prize for child protection to Children in the Fire, and the Monaco Red Cross honoured L'ange de Boutcha with the prize for humanitarian law. As the curtain fell, Prince Albert summed up the spirit of the event: 'Television brings us together. It gives us the chance to see the world through different eyes.' Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Straits Times
12-06-2025
- Politics
- Straits Times
Brazil's Lula grows more unpopular in Brazil as approval dips to 28%, Datafolha poll shows
Brazil's President Luiz Inacio Lula da Silva walks on stage after giving a speech during the Blue Economy and Finance Forum (BEFF) at the Grimaldi Forum in Monaco, June 8, 2025. REUTERS/Manon Cruz/Pool/File Photo Brazil's Lula grows more unpopular in Brazil as approval dips to 28%, Datafolha poll shows SAO PAULO/BRASILIA - Brazilian President Luiz Inacio Lula da Silva has grown more unpopular in June, pollster Datafolha said on Thursday, as his government's approval rating dipped and disapproval rose. Lula's government approval ticked down to 28% in June from 29% in April, while the disapproval rate increased to 40% from 38% in the period, according to Datafolha. Still, both rates remain better than February's figures when Lula's approval hit a record low of 24% and disapproval peaked at 41% during his three terms in office. Those seeing Lula's government as average fell to 31% in June from 32% in April, Datafolha said. The poll surveyed 2,004 eligible voters in person on June 10-11. The poll has a margin of error of plus or minus two percentage points. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
09-06-2025
- Entertainment
- Yahoo
Prince William Visits Monaco to Warn of Urgent Need to Protect the Ocean
Prince William has made a solo trip to Monaco to deliver a keynote speech on the need to protect the ocean. The Prince of Wales was welcomed by the country's Prince Albert as he arrived this morning to attend the Blue Economy and Finance Forum. William was invited to the event in his capacity as founder of the Earthshot Prize, an initiative that has seen him step up his visibility as a leader on environmental issues. 'Put simply: the ocean is under enormous threat, but it can revive itself. But, only if together, we act now,' the Prince said at Monaco's event venue the Grimaldi Forum. 'Let us act together with urgency and optimism while we still have the chance.' William's Earthshot Prize was designed to encourage optimism over what can be done to protect the planet. Every year, it awards £1 million each in prize money to solutions across five categories. One of those categories is Revive Our Oceans, and William was joined at the event in Monaco by several Earthshot finalists and winners. A royal aide described William's appearance at the forum today as part of his work as a global statesman. While members of the royal family cannot be political, they are able to raise awareness around humanitarian issues and subjects of national and global concern. Just like his father King Charles and his grandfather Prince Philip, Prince William feels passionately about the importance of using his platform to speak out about the environment. An aide previously disclosed that William started the Earthshot Prize because he wanted to be able to look his children in the eye and say he had done everything he could to fight climate change. Ahead of the Prince's appearance at the Monaco forum, which took place on World Oceans Day and ahead of a UN Ocean conference which starts Monday, Kensington Palace released a video of William in conversation with Sir David Attenborough. The celebrated naturalist, who has recently made a film about the Ocean, told the Prince of his concerns over damage to the ocean floor. "What we have done to the deep ocean floor is just unspeakably awful,' Sir David said. 'I mean, if you did anything remotely like it on land, everybody would be up in arms. If this film does anything, if it just shifts public awareness, it'll be very, very important. And I only hope that people who see it will recognize that something must be done before we destroy this great treasure.' You Might Also Like 12 Weekend Getaway Spas For Every Type of Occasion 13 Beauty Tools to Up Your At-Home Facial Game
