Core Insights - Brazil's agricultural exports, particularly soybeans, soybean meal, corn, and wheat, are projected to grow steadily in 2025, with total exports expected to reach approximately 177 million tons, an increase of nearly 10% compared to 2024 [1] Group 1: Export Projections - Soybean exports are expected to reach 109 million tons, up from 97.3 million tons in 2024 [1] - Soybean meal exports are projected to increase from 22.84 million tons to 23.3 million tons [1] - Corn exports are anticipated to reach 42.3 million tons, reflecting a year-on-year growth of 11.8% [1] - Wheat exports are forecasted at 2.32 million tons, showing a decline of 10.1% compared to the previous year [1]

Core Insights - The Algerian research sector has achieved a revenue of over 1.5 billion dinars, with a capital of approximately 12 million dinars, and aims to increase revenue to 5 billion dinars by 2027, contributing greater added value to the national economy [1] - Algerian universities are becoming key engines of the knowledge economy, having implemented 215 international research cooperation projects and 335 national research projects, many of which show significant economic benefits in fields such as agriculture [1] - Over the past 14 months, universities have created or launched more than 2,700 micro-enterprises, demonstrating the vitality of research成果转化 [1] - An assessment indicates that 53 of the initial national research projects have strong potential for technological transformation [1] - Related reforms have enhanced the international visibility and overall competitiveness of Algerian universities, facilitating their better integration into the knowledge economy system [1]

根据巴西央行数据，2025年1—11月，巴西吸引外国直接投资841亿美元，同比增长13.5%，金额为 2014年以来最高水平，预计全年外资金额将打破历史纪录。 （原标题：今年前11个月巴西吸引外资金额达十年来最高水平） ...

Core Viewpoint - Japan's rating agency JCR has maintained Uruguay's long-term foreign currency sovereign credit rating at "A-" and its local currency debt rating at "A", with both outlooks rated as "stable" [1] Group 1 - JCR highly recognizes Uruguay's economic resilience in facing external shocks [1] - The agency commends Uruguay's prudent fiscal policy and robust financial system [1] - JCR forecasts Uruguay's medium-term economic growth rate to remain around 2% annually [1] Group 2 - The fiscal deficit rate for the current financial year is expected to rise to approximately 4% [1]

巴西《经济价值报》12月26日报道，加拿大政府本周宣布，解除此前因2025年5月巴西南里奥格朗 德州发现禽流感病例而对巴西禽肉实施的进口限制。巴西农牧业部负责贸易与国际关系的副部长路易斯 ·鲁阿表示，此举意味着全球所有贸易伙伴均已恢复自巴西进口禽肉，为本年度工作画上了圆满句号。 他进一步指出，尽管年内曾出现阶段性出口暂停的情况，2025年巴西鸡肉出口总量仍实现同比增长。其 中，中国是巴西约15%鸡肉出口的目的地。尽管2025年巴西对华鸡肉出口曾中断超过六个月，但全年出 口量仍实现正增长，这一表现令人瞩目。根据巴西动物蛋白协会（ABPA）的最新预测，2025年巴西鸡 肉出口量预计同比增长0.5%，达到530万吨；2026年有望进一步增长至550万吨，增幅达3.4%。 （原标题：所有国家均已解除对巴西禽肉的进口禁令） ...

（原标题：巴西通胀预期持续回落，预期2025年为4.32%） 巴西媒体12月30日报道，据巴金融市场预计，2025年通胀率将为4.32%，低于通胀目标容忍度上限 的4.5%水平。市场维持此前预期，预计巴2025年国内生产总值（GDP）增速为2.26%。目前巴基准利率 维持在15%水平不变。 ...

Group 1: Energy and Mining Developments - Algeria's energy and mining sectors are making significant progress under the new Oil and Gas Law (Law 19-13) and the new Mining Law, with international bidding "Algeria Bid Round 2024" leading to the awarding of five oil and gas exploration and production licenses to companies like TotalEnergies, Eni, and Sinopec, indicating a resurgence in foreign investment participation [1] - The Gara Djebilet iron ore project in Tindouf province has entered the industrialization phase, with an estimated reserve of approximately 3.5 billion tons, and a primary processing production line with an annual capacity of 4 million tons is expected to commence operations in April 2026, supported by the Béchar-Tindouf railway set to be operational in January 2026 [1] - The Bled El Hedba integrated phosphate project in Tebessa province is progressing, with a planned annual production capacity of around 6 million tons of fertilizer products, and the associated railway infrastructure is expected to facilitate the transport of over 10 million tons of phosphate rock annually, generating an estimated annual revenue of $2 billion [1] Group 2: Non-Ferrous Metals and Renewable Energy - The Oued Amizour lead-zinc project in Bejaia province has an estimated recoverable reserve of about 34 million tons, with a planned annual production of 170,000 tons of zinc concentrate, projected to generate annual revenue of approximately $215 million [2] - Algeria is advancing a renewable energy plan to add 15,000 megawatts by 2035, with the first phase of 3,200 megawatts of solar projects progressing well, alongside the implementation of the SoutH2 hydrogen corridor and the Medlink Algeria-Italy electricity interconnection project, aimed at expanding green energy export capacity to Europe [2]

Core Viewpoint - Chile's industrial production index decreased by 0.8% year-on-year in November, primarily due to declines in manufacturing and mining sectors [1] Group 1: Manufacturing Sector - The manufacturing production index fell by 1.3%, attributed to reduced demand for machinery and paper products, leading to a decrease in wood and wood product output [1] Group 2: Mining Sector - The mining index also declined by 1.3%, driven by decreased mining output and processing activities, particularly in copper and other metal ores, although there was an increase in non-metallic minerals like lithium and natural gas production [1] Group 3: Utilities Sector - The water, electricity, and gas production index grew by 2.4%, supported by increased solar power generation and commercial electricity distribution, along with higher residential water allocation and liquefied natural gas regasification levels [1]

Core Viewpoint - Algeria is implementing a "three-point plan" to support the livestock industry in response to rising sheep prices and drought impacts [1] Group 1: Measures to Support Livestock Industry - The first measure focuses on ensuring feed supply to address the shortage of pasture caused by drought, with nearly 1.97 million quintals of barley distributed to over 110,000 breeders by December 23, 2025, supplemented by imports and regulation of bran sales to curb speculation [1] - The second measure aims to promote digitalization in the industry, including legislation to regulate livestock farming, implementing nationwide electronic identification for cattle and sheep, and prohibiting the slaughter of female lambs to stabilize population numbers [1] - The third measure enhances animal disease prevention, with a goal to vaccinate nearly 15 million livestock by 2025, including approximately 13 million sheep, with all vaccines provided free of charge [1]

Group 1 - The unemployment rate in Brazil decreased to 5.2% for the period of September to November, marking a month-on-month decline of 0.4% and a year-on-year decline of 0.9%, reaching the lowest level since 2012 [1] - The Brazilian federal state-owned enterprises reported an expanded loss, with a cumulative fiscal deficit of 6.3 billion reais from January to November, representing the worst performance since records began in 2002 [1]