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Edition of Friday, 25 September 2026English edition
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The Geopolitician

Country risk, from the local press

Brazil · Country watch

Lula Bans Betting, Inflation Surges

Lula announces betting ban amid rising inflation, impacting sectors from finance to retail.

· · 10 articles read

The picture Deteriorating How this is judged →

Business conditions in Brazil are deteriorating as Lula's betting ban and rising inflation create challenges across finance and retail sectors. The ongoing tariff dispute with the US adds further uncertainty for exporters.

In this briefing Luiz Inácio Lula da Silva · André Mendonça · Supreme Federal Court of Brazil · IBGE · Donald Trump · World Trade Organization

Regulation

  • Finance
  • Retail

Lula announces ban on betting companies in Brazil

Part of: Lula's ban on betting companies in Brazil →

President Luiz Inácio Lula da Silva announced a measure to prohibit the operation of betting companies in Brazil. The measure, revealed in São Paulo, comes nine days before the elections and includes steps to address family indebtedness. According to O Globo, the move is part of a broader initiative to regulate the betting industry, which has grown rapidly in recent years. The announcement is expected to impact various sectors, particularly finance and retail, as the betting industry has been a significant source of revenue and employment.

Impact Betting companies in Brazil will cease operations, affecting revenue and employment in finance and retail sectors.

Sources: O Globo ↗, A Tarde ↗

  • Public sector

STF extends suspension of mental health fines by 90 days

Part of: Brazilian Court adjusts mental health regulation penalties →

The Supreme Federal Court (STF) has extended the suspension of fines related to new mental health regulations for another 90 days. Minister André Mendonça announced the extension, which affects the enforcement of the Norma Regulamentadora 1 (NR-1) concerning psychosocial risk management in workplaces. According to Extra, this decision continues the pause initially implemented 90 days ago, allowing companies more time to comply with the new requirements without facing penalties.

Impact Employers gain additional time to comply with new mental health regulations without facing fines.

Sources: Extra ↗

Markets

  • Finance

Brazil's IPCA-15 inflation index rises 0.7% in September

Part of: Brazil's inflation trends: September and October 2026 →

Brazil's IPCA-15 inflation index rose 0.7% in September, surpassing market expectations of 0.55%. According to data from the Brazilian Institute of Geography and Statistics (IBGE), this is the highest rate for September since 2021. The increase was driven by rising electricity and food prices, as reported by O Globo. The inflation preview suggests a reversal from the 0.4% deflation observed in August, indicating potential upward pressure on interest rates.

Impact Importers and retailers face higher costs due to increased electricity and food prices.

Sources: Terra ↗, Jornal de Brasília ↗, O Globo ↗

Trade

  • Agriculture
  • Manufacturing

Brazil and US discuss tariffs at WTO meeting

Part of: Brazil's WTO tariff consultations with the US →

Representatives from Brazil and the United States met at the World Trade Organization (WTO) in Geneva to discuss additional tariffs imposed by the US on Brazilian products. The meeting, involving President Luiz Inácio Lula da Silva and US President Donald Trump, is part of Brazil's challenge to these tariffs at the WTO. According to O Globo, expectations for a resolution are low, as the discussions are still in the technical phase.

Impact Brazilian exporters face continued uncertainty in US markets due to unresolved tariff discussions.

Sources: O Globo ↗, Extra ↗

Nothing significant reported today in Disruption · Internal tension · Safety & health · Companies · Politics.

Also today in the local press

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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