Stories for February 2008
Latest News feedContaining Brazilian currency appreciation is costing billions
Brazil’s central bank posted a loss of 47.5 billion reais (28.5 billion US dollars) in 2007, triple the amount in the prior year, because of efforts to slow the strong real’s appreciation against the US dollar.
Brazil’s inflation falls to 7 month low; Real 26% stronger
Brazil’s inflation index fell to a seven-month low in February mitigating concerns about an increase in interest rates to keep prices under control, which has been one of the driving forces of the administration of President Lula da Silva.
Sovereign investment funds warn about increased regulations
The head of one of the Middle East’s best-known investment funds has warned against any European Union (EU) moves to increase their regulation. State-run investment vehicles, Chinese and Middle East sovereign wealth funds have recently bought stakes in a number of Western banks and other businesses.
Bolivia bitterly divided over constitutional vote
A bitterly divided Bolivian Congress on Thursday approved a May 4 referendum on President Evo Morales’ proposed constitutional review, which would grant greater political power to Bolivia’s long-oppressed indigenous groups and greater government intervention in the economy.
Relief in Brazil: loss of “state secrets” was petty theft
Brazilian officials said petty theft and not corporate espionage was responsible for the disappearance of computers with highly sensitive information on recently discovered oilfields, which could make Brazil a hydrocarbons powerhouse.
Limited reopening of EU market for Brazilian beef
The European Union said Friday it will allow some Brazilian farms to export beef to Europe again, ending a month long freeze over animal disease concerns. A total of 106 farms meet EU health standards, thus reopening trade between Brazil, the world’s leading beef exporter, and its main market in Europe.
Seism shakes north east Brazil causing panic but no victims
A slight tremor with 3.9 Ritcher scale degree intensity, lasting a few seconds, followed by over a hundred low intensity replicas was felt in the Brazilian northeastern state of Ceará, according to Brazilian Civil Defence.
Argentina plans LNG import by sea to face winter shortage
Argentina is planning to import, by sea, liquid gas, LNG, in the coming months in an effort to anticipate and contain a repeat of past winters shortages, reports the Friday edition of the Buenos Aires press.
US nuclear carrier in exercise with Brazil and Argentine navies
Nuclear aircraft carrier USS George Washington, one of the world’s most impressive man-o-war and three other US Navy units will be participating in joint exercises with the navies from Brazil and Argentina along the coast of Rio do Janeiro, reports Correio Braziliense Friday edition.
Featured Analysis
The Botnia pulp mill dispute illustrates failure of Mercosur
So much for the announcement, but even if the events were not to be held, the mere planning of the gatherings should help reveal the depth of the failure of Mercosur, as an ambitious vision, and the absence of Argentina’s foreign policy for its national borders.
