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00:00:08more and more and with
00:00:27How are you? Welcome to Economic Impact. and Paul, it's time to
00:00:30review our headlines, this
00:00:32is how we start
00:00:37in Latin America, let's talk about Argentina that has denounced labor
00:00:40reforms promoted by the current government of Javier
00:00:43Milei.
00:00:47In context, we are going to review the natural gas business,
00:00:50how it impacts the global
00:00:52economy.
00:00:58And in 360 degrees, the cost of housing increases,
00:01:01this in Spain.
00:01:352026, compared to the
00:01:40Organizations that are part of the United Unions Front are
00:01:43denouncing before the Inter-American Commission on Human Rights, the labor reforms that
00:01:47the government of Argentina, led by Javier Milei, is promoting, considering
00:01:51that they represent a setback in the guarantees conquered by the
00:01:55working class. The unions maintain that the measures make
00:01:58employment conditions more flexible, restrict the right to strike and weaken the
00:02:03story: Unlike capacity for union organization,
00:02:06are helping to in a context, moreover, of growing social conflict. The union delegation
00:02:08in Argentina has also denounced alleged cases of persecution against
00:02:13and talent of our athletes in search of its leaders, questioning the intervention of union organizations, pointing out that these
00:02:17actions seek to limit the representation of the working
00:02:20class. In addition, they warn that the deregulation of essential
00:02:23services, the increase in
00:02:25areas of national production and with tariffs, have been deteriorating the purchasing power of wages with
00:02:29an impact, especially severe towards women. Union
00:02:32representatives have also requested the action of international
00:02:36organizations, considering that labor and economic
00:02:39policies are affecting fundamental rights and further deepening
00:02:43social inequality in that
00:02:44country.
00:02:50On another topic, in Colombia, the export of electrical energy to
00:02:54Ecuador has been resumed, with a scheduled supply of approximately
00:02:578.6 gigawatts per day, a
00:03:00volume that will allow covering more than
00:03:038%. This is a statistical data of the demand
00:03:07that the neighboring country is requesting, a measure that also seeks to contribute
00:03:11to the stability of the Ecuadorian electrical system while continuing
00:03:14to strengthen the mechanisms of cooperation and energy integration
00:03:17between both nations. The Minister of Mines and Energy of Colombia,
00:03:21Edwin Palma, already assured that the decision has been adopted preserving national
00:03:25energy security and prioritizing the protection of the
00:03:28considered reservoirs. Also strategic to guarantee the
00:03:31internal supply of Colombia, he reported that mechanisms
00:03:35are activated to facilitate the signing of export contracts between
00:03:39companies in the energy sector between Colombia and
00:03:42Ecuador, expanding the possibility
00:03:44factors and internal of binational exchange. The authorities in Colombia have also
00:03:47highlighted that this initiative responds to a regional
00:03:51and business solidarity approach, also expressing their expectation
00:03:55of the world that Ecuador will maintain this relationship based on reciprocity with
00:03:59energy, as a tool to continue strengthening shared development and
00:04:02well-being between both
00:04:04peoples.
00:04:08And
00:04:11we return, in context, we will in Rio de Janeiro, Brazil, an office belonging to the
00:04:14Russian Export Center has already opened, a country that, let's remember, has
00:04:18expanded its presence in our region of Latin America and the Caribbean, with
00:04:21this initiative also aimed at strengthening economic ties with the
00:04:25South American giant and boosting exports of non-
00:04:29raw material-related goods. We will also
00:04:32tell you that this new presentation will provide support to
00:04:36Russian companies interested in entering the Brazilian
00:04:39market by identifying commercial partners, organizing
00:04:43business meetings and providing support especially in the development of international
00:04:46fairs. All of this adds up, says the Prensa
00:04:50Latina news body, to advice on certification processes, cooperation
00:04:54that will prioritize sectors such as industry, construction,
00:04:58agribusiness. All of them are strategic for both
00:05:01countries. With this opening, Moscow continues to expand its international
00:05:05network of commercial promotion, also present in 18
00:05:08countries. The initiative reflects the interest in diversifying markets,
00:05:12establishing cooperation with emerging economies and consolidating new
00:05:16spaces for exchange within the framework of growing economic articulation
00:05:19between Russia and
00:05:20Brazil.
00:05:27And in Guatemala, the approval of the General Law of the National
00:05:30Port System by the Congress of that country has received support from
00:05:34various business sectors that consider this regulation an important
00:05:37step to modernize logistics
00:05:40infrastructure, but also to strengthen competitiveness within this nation. This
00:05:44legislation seeks to create a framework that facilitates the expansion and management of the
00:05:48port system, also considered strategic for foreign trade
00:05:52and investment attraction. Representatives of industry,
00:05:55trade, cargo transport and the agro-export sector, as well as
00:05:59exporter associations agree that this new law will
00:06:02contribute to reducing logistical costs, improving legal certainty, generating
00:06:06more favorable conditions for economic growth and the creation of
00:06:10sources of employment, a legislative initiative that responds to the structural
00:06:14problems faced by ports in Guatemala, characterized by
00:06:18operational delays, capacity limitations and efficiency in infrastructure
00:06:21planning. Now,
00:06:24with this regulation, the country is seeking to strengthen its commercial
00:06:28connectivity and further enhance its efficiency in regional and international
00:06:31markets.
00:06:36In Nicaragua, if we talk about maritime trade, we have to point to the
00:06:39port of Corinto, which strengthens its role as a main maritime
00:06:43platform by concentrating more than 80% of national
00:06:47cargo movement but also international cargo. All of this is the
00:06:50result of a modernization process that has also been strengthening its operational
00:06:54and logistical capacity. In recent years, the
00:06:57infrastructure of this terminal has been significantly expanded,
00:07:00allowing to increase the tension of vessels and the volume
00:07:04of mobilized goods. Investments also include new
00:07:08berths, a specialized terminal
00:07:11for vessels, equipment for container handling, improvements
00:07:15in customs processes with the aim of reducing dispatch
00:07:19times and thus increasing the efficiency of foreign trade.
00:07:23Nicaragua also plans to incorporate new technological
00:07:25tools to digitize port management. The authorities have highlighted
00:07:29that this development responds to the growth of exports,
00:07:32the increase also in different
00:07:37this the commitment to strengthen strategic infrastructure. The
00:07:41port of Corinto is thus consolidated as a key axis for commercial
00:07:45integration and the economic dynamism of that
00:07:48country.
00:07:57And in the Dominican Republic, figures are being
00:07:59registered, but the downside has a lot to do with the
00:08:03ability to manage internal capital, which is being
00:08:07negatively affected by the rise in inflation. At the end of
00:08:112026, a target range established by the
00:08:15Central Bank is expected, driven mainly by the increase in the price of
00:08:18fuels and their effect on different sectors of the economy
00:08:22there in that nation. Economists, for example, Héctor Sánchez,
00:08:25estimate that annual inflation could be between 6.65% and
00:08:297.10%, exceeding the official target. According to the
00:08:33analysis of this expert economy, it refers to the increase in
00:08:36energy costs, which has also increased transportation,
00:08:39logistics, and production costs, transferring
00:08:42price pressures to goods and services. The persistence of
00:08:46underlying inflation above 4% for
00:08:5019 consecutive months is already reflecting that inflationary
00:08:53tensions respond to both international
00:08:56dynamics. In summary, the specialist
00:09:00considers that this scenario represents a challenge for economic
00:09:03policy, which must now combine measures to contain price
00:09:07increases without affecting growth, employment, and the
00:09:10stability of productive activity in this
00:09:13nation.
00:09:19Let's take a break in economic impact. When
00:09:23review how the natural gas market is doing and its
00:09:27impact, especially on the global economy. The details will be shown soon.
00:12:07Let's talk about natural gas, which has been consolidating itself as one of the most important
00:12:11energy resources of the 21st century. Its increasing
00:12:15participation in electricity generation, industry and
00:12:18transportation is making it a strategic component
00:12:21for the energy security of numerous countries around the world.
00:12:25We tell you more through the following
00:12:28oil, whose commercialization mainly depends
00:12:32on maritime transport, natural gas combines two
00:12:36large distribution systems, extensive gas pipeline networks
00:12:39and the liquefied natural gas market, known as
00:12:42LNG, which allows transporting the resource by
00:12:46sea to any region of the world. According to the
00:12:49International Energy Agency, global LNG
00:12:52trade continues to expand thanks to new
00:12:56liquefaction plants built in North America, Africa and
00:13:00Oceania. This modality represents a
00:13:03growing proportion of international gas trade and has
00:13:06diversified markets, allowing countries without gas
00:13:09pipeline connections to access the fuel. However,
00:13:13geopolitical events of 2026
00:13:16demonstrated the vulnerability of these supply chains,
00:13:20especially after the interruptions recorded in West
00:13:23Asia, specifically in the Strait of Hormuz, a
00:13:27region through which nearly 20% of global
00:13:30LNG trade transits. Currently, the United States, Qatar and
00:13:34Australia lead global LNG exports, while
00:13:37Norway, Russia and Algeria maintain a prominent
00:13:40position in supplying Europe and other
00:13:44regions through pipelines. On the demand side, China continues to be one
00:13:47of the largest consumers of natural gas, followed by Europe,
00:13:51Japan, South Korea, and India. The international gas
00:13:55market moves hundreds of billions of dollars annually and
00:13:58constitutes one of the pillars of the global energy economy. Beyond
00:14:02its role as fuel, natural gas influences industrial
00:14:06production costs, electricity generation, fertilizer
00:14:09prices, and the competitiveness of numerous productive
00:14:13sectors. Therefore, understanding its operation is
00:14:16fundamental to understanding the dynamics
00:14:20economy.
00:14:21The dizzying increase in the prices of liquefied
00:14:25petroleum gas due to the crisis in the
00:14:28Strait of Hormuz, which also affects global energy markets, is reflected
00:14:32in direct consequences in various parts of the world, such as
00:14:35Bangladesh. Watch this.
00:14:38The economy of
00:14:42Bangladesh has been affected by the increase in hydrocarbon
00:14:45prices and driven by the conflict in West
00:14:49Asia and the volatility of the global energy
00:14:52market. In various areas, households
00:14:55face a widespread shortage of liquefied
00:14:59petroleum gas via pipeline and frequent
00:15:02power outages. In turn, the available
00:15:06gas in the market is offered at unaffordable prices for
00:15:10the common population.
00:15:13Due to the crisis, companies have
00:15:15raised prices, we, the merchants, have not
00:15:19increased them, we are simply following government guidelines. and that's
00:15:23all, besides we don't receive supplies, if a
00:15:26vehicle takes a day to arrive, it is held for three, that is the
00:15:30situation, do you hear us?
00:15:33Merchants have been the most affected,
00:15:37given the energy disruptions in the country
00:15:40and the increase in prices that reduces their profits
00:15:46it, stable income that allows them to support their
00:15:50families. The problems have increased
00:15:53considerably, for example, there is no gas, but we
00:15:56still have to pay the bill. In addition, the electricity
00:16:00supply for the work we do here is irregular, there are constant
00:16:03power outages, as this depends on electricity,
00:16:07cooking is interrupted halfway, so we go
00:16:10hungry, we have to buy food outside and the electricity bill
00:16:14is also rising, expenses have more than doubled,
00:16:18but in reality the problem is not being
00:16:21solved from any point of view.
00:16:24For the moment, the supply of liquefied
00:16:28petroleum gas in the country continues to be irregular,
00:16:31with price increases and greater complications for the
00:16:35operation of businesses throughout the
00:16:39national territory, a scenario that, if it does not show prompt
00:16:42improvement, would further affect the well-being
00:16:46of the
00:16:47population.
00:16:51International natural gas trade is also generating significant revenues for
00:16:55producing countries, although profits vary depending on their position within
00:16:58this supply chain. The greatest benefits correspond to
00:17:02nations that combine abundant reserves with infrastructure to
00:17:05process, transport and export
00:17:07this energy source. The United States has become the world's leading
00:17:11LNG exporter thanks to the development of shale gas and a network of
00:17:15liquefaction terminals located mainly in the Gulf of
00:17:18Mexico. Qatar also maintains a strategic position due to its enormous
00:17:22reserves in the Northfields field, while Australia
00:17:25continues to be one of the main suppliers to the Asian
00:17:27market. The trade of this energy source also
00:17:30highlights countries such as Norway, which has consolidated itself as one of the largest
00:17:34suppliers for Europe. And for
00:17:38Russia, it must be said that Russia withdrew
00:17:41this saying because we maintain it as one of the
00:17:44main also, uh, exporting countries of
00:17:48energy to Asian markets, especially to China through new
00:17:52energy corridors. Algeria, this African country that also
00:17:55plays a relevant role as a supplier to the south
00:17:59of the European continent. Let's add another
00:18:01fact, the energy infrastructure that represents a decisive economic
00:18:05advantage, the countries that have... liquefaction plants,
00:18:08regasification terminals, extensive gas pipeline networks are
00:18:12achieving reduced logistical costs, expanding their markets
00:18:15and even obtaining higher revenues through long-term
00:18:19contracts with industrial consumers and electricity generation
00:18:22companies.
00:18:28And pipelines continue to be the most efficient and economical way to
00:18:31transport large volumes of natural gas between neighboring
00:18:34countries. Europe, Central Asia and...
00:18:38North America have extensive connectivity networks, this
00:18:41also adds to the industry and power plants that consolidate
00:18:45this objective. The infrastructure represents
00:18:48investments of billions of dollars and allows establishing
00:18:52long-term supply contracts, providing greater stability to producers and
00:18:56consumers. This also reduces logistical costs compared to maritime
00:18:59transport when there is a viable land connection. In recent
00:19:03years, the development of new energy corridors towards the Asian
00:19:06continent has been partially modifying the current world map
00:19:10of gas trade, while the European continent continues to expand
00:19:14its infrastructure to try to diversify its
00:19:17suppliers, this is also added, of course, to the fact of
00:19:21stopping buying gas from Russia, which has increased the
00:19:24acquisition of the same, that is, today it pays three times
00:19:28more for gas and oil than it used
00:19:32to for
00:19:33Russia.
00:19:39And liquefied natural gas (LNG) is also transforming international
00:19:43energy trade through a cooling process of approximately
00:19:46-162°C. The gas is reduced
00:19:50in volume by about 600 times,
00:19:54facilitating its transport in specialized ships to markets
00:19:57far from large deposits. This is another
00:20:00technology that has allowed importing countries to diversify their
00:20:04supply sources and reduce their dependence on traditional
00:20:08gas pipelines. Japan, South Korea, China, and several European
00:20:11economies now largely depend on LNG to
00:20:14meet their energy demand. The International
00:20:18Agency predicts that the new export capacity
00:20:21installed in the United States, Canada, and Africa will continue to drive
00:20:25this market in the coming years, although geopolitical
00:20:28tensions and price volatility will continue to
00:20:32condition international trade of this
00:20:34energy source.
00:20:46And in Spain, the price of housing rose by 15.5%
00:20:50for the month of July and exceeded the maximums of this real estate
00:20:54bubble by 2%, as reported by the latest index
00:20:57generated by the markets. With this
00:21:00evolution, the value of housing is 2% above the
00:21:03maximums reached during this real estate bubble of
00:21:072007 in nominal terms, regarding areas
00:21:10that recorded increases of more than 10% year-on-year last
00:21:14July, the Mediterranean coast showed the largest
00:21:17advance with a rise of 17.9%, while the
00:21:20capitals and large cities also registered the most intense monthly
00:21:24increase, we are talking about
00:21:261.6%.
00:21:29And in the islands, the signs of a slowdown
00:21:32observed in recent months were also consolidated,
00:21:35and if we talk about prices, the islands are the territory
00:21:38where prices are exceeding the maximums reached in
00:21:422007 and 2008, currently being
00:21:4526% above nominal terms,
00:21:49while capitals and large cities registered prices
00:21:534% higher than those maximums and metropolitan
00:21:56areas already exceed them by
00:21:593%.
00:22:04And Russia is increasing exports of agri-food
00:22:08products to the African continent. The Federal
00:22:11Center for Agro-export reports that revenues from
00:22:14exports to the African continent of products from the
00:22:17Russian agro-industrial complex have increased by
00:22:2035% between January and May of this
00:22:25same period last year. They also highlight that
00:22:28in terms of volume, shipments have grown by 40% in the same
00:22:32period, adding that Russian companies exported
00:22:36agri-food products to more than 40 African
00:22:40countries worth close to 2.9 billion
00:22:43US dollars. The main
00:22:46export product has been wheat, followed by barley,
00:22:50soybean oil, and flour, among
00:22:52other products that
00:22:56record these statistics, and if we talk about
00:22:59Egypt, this nation also remains the main destination for Russian
00:23:02agri-food exports, with Sudan in second
00:23:06place and Kenya
00:23:08in third.
00:23:17On another topic, let's talk about the heat points that are registered
00:23:20in the European continent, causing estimated losses of 3.1
00:23:24billion euros, the media in the old
00:23:27continent report that most of these forest fires
00:23:30that occur in countries such as France, Spain, Greece,
00:23:34are being controlled thanks to continuous
00:23:37efforts, although it has been highlighted that the damage
00:23:41is considerable. If we talk about France, according to the
00:23:44Ministry of Interior in that country, the total area that has been
00:23:48devastated by these total fires amounts to
00:23:51119 hectares since the beginning of this 2026,
00:23:55highlighting that the southeast of the country has been the most
00:23:58affected area. In Spain, according to preliminary statistics from the Union of
00:24:02Small Farmers and Ranchers, approximately
00:24:0418,500 hectares
00:24:07have also been devastated by the flames. And in Greece,
00:24:11another piece of data that comes to light, where 12
00:24:14hectares of forests and agricultural land are mentioned. The
00:24:17insurance company is still evaluating
00:24:21losses in properties and crops that also impact the tourism sector,
00:24:24while hidden costs such as increased insurance
00:24:28premiums and decreased tourist numbers
00:24:31will come to light as time
00:24:34passes.
00:24:43It's time to review the oil indicators at the close of today's
00:24:46session, check this out: the intermediate Texas oil barrel
00:24:50is at $75.5 with
00:24:53a one-cent drop. The
00:24:56Brent barrel on your screens in Europe is at
00:25:00$79.42 with a six-cent rise.
00:25:04And finally, the crude oil averaged by
00:25:07OPEC is at $80.42
00:25:10with a 92-cent rise.
00:25:12Economic impact ends,
00:25:16we leave you with our usual invitation to update
00:25:20your information in this area through our multiplatform. I'm
00:25:24Paula Pérez, stay with us.
00:30:54Hello, welcome to the world from the south, Francisco Blandón.