Stories for May 28th 2012
Brazil raised to the maximum the common external tariff, AEC, that Mercosur charges on imported goods from out of the zone. The decree was published in Monday’s edition of the Official Gazette and includes a hundred goods.
Spain’s leading bank Santander denied any plan to sell its Brazilian affiliate full or partly, as was published in the Sao Paulo media following discussions with Bradesco, another top listed Brazilian bank.
Spain’s King Juan Carlos will be travelling to Brazil and Chile in the first week of June to strengthen ties with two strategic associates and in preparation of the Ibero-American summit to take place in Cadiz. The King will be accompanied by Foreign Affairs minister Jose Manuel Garcia-Margallo and a business delegation.
Veterans, next of kin, local authorities and special guests attended on Sunday a remembrance service for the 30th Anniversary of the Falklands conflict in Gosport, overlooking Portsmouth harbour.
Brazilian banks must lower their lending rates by between 30% and 40%, and increase lending, without raising fees, to help spur economic growth, Finance Minister Guido Mantega said in an interview with the Folha de Sao Paulo newspaper.
Brazil has a plan to bolster subsidized credit aimed at increasing corporate investment with 45 billion Real (approx 22.5 billion dollars) from the country’s development bank, BNDES.
British drinks group Diageo is buying a maker of Brazil's most popular spirit, cachaça for about 470 million dollars, boosting its expansion in fast-growing emerging markets while it fights for a bigger prize in tequila.
Finance minister Guido Mantega said that Brazil has double the reserves when the 2008 global recession and is prepared to confront a deepening of the European crisis but admitted that the economy would expand below 3.5% which is less than was targeted at the beginning of the year.
Gibraltar figures importantly on the agenda for a Tuesday meeting scheduled in London between Foreign Secretary William Hague and Spanish counterpart Jose Garcia-Margallo particularly following on the recent fishing incidents and the long queues being imposed at the border by Spanish authorities.
Planting the first of what it hopes will be a million trees, “Reforestemos (reforest) Patagonia” officially launched a campaign that will restore large swathes of Chilean Patagonia to pristine wilderness.