The Rio Times

The Rio Times is an English-language publication aimed at the English-speaking expatriate community in Rio de Janeiro and across Brazil. In addition to reporting on local happenings, The Rio Times focuses on topics that are particularly relevant to foreign residents. Our goal is to offer valuable local insights and enhance the community's knowledge of the beautiful city of Rio and the country as a whole.

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Colombian Business Leaders Clash

16 hours ago | riotimesonline.com | Juan Martinez |Juan Martínez

Colombia formally joined China’s Belt and Road Initiative (BRI) on May 14, 2025, sparking sharp divisions between the government and business leaders. President Gustavo Petro hailed the move as a “historic step” to reduce Colombia’s $14 billion annual trade deficit with China and transform marginalized regions into tech hubs.
U.S. Gains Foothold in Argentina as China Locks Deals

16 hours ago | riotimesonline.com | Juan Martinez |Juan Martínez

Argentina’s deliberate snub of China’s high-profile CELAC forum in May 2025, opting instead to strengthen ties with the U.S., signals a strategic gamble to reposition itself as Washington’s top regional ally. While Colombia joined China’s Belt and Road Initiative and Brazil reaffirmed trade partnerships with Beijing, President Javier Milei’s alignment with Donald Trump’s administration has secured Argentina critical economic and military advantages.
Uruguay’s “Pepe” Mujica, Guerrilla Leader Turned Humble President, Dies at 89

23 hours ago | riotimesonline.com | Juan Martinez |Juan Martínez

José “Pepe” Mujica, Uruguay’s former president and a global symbol of austere leadership, died Tuesday at 89 after a year-long battle with esophageal cancer. President Yamandú Orsi confirmed his passing, praising Mujica as a “militant, leader, and mentor” who embodied grassroots values. Diagnosed in April 2024, Mujica spent his final months at his modest farm outside Montevideo, refusing to abandon his rural lifestyle despite illness.
Prime Minister Resigns as Corruption and Crime

23 hours ago | riotimesonline.com | Juan Martinez |Juan Martínez

On May 13, 2025, Peruvian Prime Minister Gustavo Adrianzén resigned, preempting a congressional censure vote over his administration’s failure to curb rising crime, including the killing of 13 miners in Pataz. His exit, the third prime ministerial turnover in 16 months under President Dina Boluarte, deepens a crisis marked by corruption scandals and economic strain.
Leadership Void Fractures Bolivia’s Left as Conservatives Eye

23 hours ago | riotimesonline.com | Juan Martinez |Juan Martínez

President Luis Arce’s abrupt exit from Bolivia’s August presidential race has exposed a destabilizing power vacuum within the ruling Movement Toward Socialism (MAS), offering conservatives their first viable path to power in two decades. Arce withdrew on May 14, 2025, as his approval cratered to 1% amid inflation nearing 6% and crippling fuel shortages, with 86% of diesel and 56% of gasoline now imported. The central bank’s dollar reserves have nearly vanished, forcing rationing and protests.
Argentina Overhauls Electronics Import Taxes in Bid

1 day ago | riotimesonline.com | Juan Martinez |Juan Martínez

Argentina’s government will phase out import tariffs on mobile phones and cut internal taxes for electronics, aiming to reduce consumer prices by up to 30% and dismantle trade barriers. Presidential spokesperson Manuel Adorni confirmed the measures alongside Economy Minister Luis Caputo, detailing immediate cuts from 16% to 8% on cellphone tariffs starting this week, with full elimination by January 2026.
U.S. Cattle Import Ban Ignites $50 Billion Crisis in Mexican

1 day ago | riotimesonline.com | Juan Martinez |Juan Martínez

The U.S. halted live cattle imports from Mexico on May 11, 2025, after detecting New World Screwworm (NWS) outbreaks 700 miles south of the border, triggering immediate economic chaos. Over 100,000 cattle stranded at northern Mexican ports face escalating losses exceeding $50 billion, with daily revenue losses hitting $11.4 million, according to Mexico’s National Agricultural Council.
BlackRock Seizes Control of Panama Canal Ports in $22.8 Billion

1 day ago | riotimesonline.com | Juan Martinez |Juan Martínez

U.S. investment giant BlackRock has acquired strategic Panama Canal ports from Hong Kong’s CK Hutchison in a $22.8 billion deal reshaping global trade dynamics. The transaction transfers 90% ownership of Panama Ports Company-operator of Balboa and Cristóbal terminals flanking the canal-to a BlackRock-led consortium including Global Infrastructure Partners and MSC Group’s Terminal Investment Limited. The deal covers 43 ports across 23 countries but excludes CK Hutchison’s Chinese assets.
Uruguay’s Financial Sector Draws Billions as Argentine

1 day ago | riotimesonline.com | Juan Martinez |Juan Martínez

Uruguay’s Central Bank reported 170 registered investment advisors and portfolio managers oversaw $42.14 billion in global assets in 2024, with Argentines accounting for 27,696 clients and $20.78 billion-nearly half of all managed funds. This surge reflects Argentina’s prolonged economic instability and Uruguay’s emergence as a regional financial safe haven. Argentine investors, primarily high-net-worth individuals, have increasingly shifted capital to Uruguay since 2020.
Fitch Lifts Argentina’s Credit Rating to ‘CCC+’ as Milei’s Reforms

2 days ago | riotimesonline.com | Juan Martinez |Juan Martínez

Fitch Ratings raised Argentina’s long-term foreign currency debt rating from “CCC” to “CCC+” on May 12, marking its first upgrade since President Javier Milei took office in December 2023. The agency cited the government’s elimination of 14-year currency controls in April 2025 and a $20 billion IMF loan as key drivers, signaling cautious optimism for economic stabilization.