adminRIO DE JANEIRO. — The mayor of 2016 Olympic host city Rio de Janeiro insisted on Tuesday authorities had the finances to avoid disruption to the summer Games despite Brazil’s recession. “We have enough money to make sure everything is presented as it is supposed to be, as you can see here,” Mayor Eduardo Paes told reporters, after unveiling an Olympic basketball court. Brazil is suffering from a deep recession and soaring inflation — a contrast to the boom times of 2009, when Rio won the right to host the Olympics. The International Monetary Fund expects Brazil will stay in recession in 2016 and the World Bank has forecast a 2.5 percent contraction this year. — AFP.
Online Reporter
- Herald
- July 25, 2026
- 50 views
Mega Market moves to snap up Lobels in bid to dominate food value chain
Nelson Gahadza Mega Market (Private) Limited, owned by Shiraan Ahmed, has moved to acquire 100 percent of Lobels Holdings (Private) Limited in a proposed transaction that could see one of…
