Brazil

Brazil
Saturday, April 16th 2011 - 00:22 UTC

Brazil 2012 budget estimates: primary surplus 3.1% of GDP, dollar at 1.76 Real

Planning Minister Miriam Belchior said “the government is pursuing a defined surplus target.”

Brazil is aiming for a primary budget surplus of 3.1% of GDP in 2012 as the government tries to put its public accounts back into better shape. Brazil’s economy is expected to grow 5.0% in 2012, compared to a 4.5% growth forecast for this year, according to an outline of the 2012 budget released Friday.

Saturday, April 16th 2011 - 00:11 UTC

Tombini says Brazil is in the middle of a monetary tightening cycle

Central bank president Alexandre Tombini

Brazil is in the middle of a monetary tightening cycle, central bank President Alexandre Tombini said on Friday, days before the bank is expected to announce a hike in the benchmark lending rate.

Saturday, April 16th 2011 - 00:09 UTC

China’s trade with BRICS associates surged 45.8% in the first quarter

India and Brazil are China’s 9th and 10th trade partners

China's top customs authority announced Friday that trade with the other four BRICS nations surged by 45.8% to reach 59.9 billion US dollars in the first quarter of this year.

Friday, April 15th 2011 - 18:31 UTC

Brazil admits most airports won’t be ready for the 2014 World Cup

Airports are saturated and operating in critical situation

A Brazilian government report indicates that it will be extremely difficult to get most Brazilian airports ready in time for the 2014 World Cup.
Renovation work in 10 of the 13 airports which will be used during the month-long tournament will not be completed in time unless there are changes in the investment plans made by Brazil's airport authority, Brazil's Economic Research Institute said in its study.

Thursday, April 14th 2011 - 05:24 UTC

President Rousseff invites Foxconn to develop Brazil’s electronics industry

Taiwan’s Foxconn is one of the world’s leaders and employs over a million people in China

Foxconn in planning to invest as much as 12bn US dollars in Brazil, according to President Dilma Rousseff currently on an official visit to China. Taiwan-based Foxconn operates the majority of its factories in China, producing goods for firms like Apple, Hewlett Packard and Dell.

Wednesday, April 13th 2011 - 18:34 UTC

Mercosur to release members’ same criteria macro-economic data beginning June

Brazil’s Central bank will be responsible for the release of the information

Beginning June, Mercosur full members will share macro-economic indicators elaborated with the same criteria and which will be released simultaneously, according to reports in the Montevideo press. The initiative was partly financed by the European Union that also played an advisory role.

Wednesday, April 13th 2011 - 04:30 UTC

China and Brazil agree to further expand their strategic partnership

Presidents Rousseff and Ju Hintao toast at the Great Hall of the Peoples (Photo AP)

China and Brazil on Tuesday clinched a host of government agreements and economic deals in Beijing to enhance their strategic partnership as Brazilian President Dilma Rousseff paid her first state visit to China.

Tuesday, April 12th 2011 - 16:34 UTC

China opens to Brazilian pork and meat distribution hubs in six main cities

Pedro de Camargo Neto president of Brazil’s Pork production and export industry

China opened its market to Brazilian pork and Brazil’s meat packer Marfrig said it would invest heavily in distribution centres in China. The announcements were made in Beijing where a numerous government and private sector delegation headed by Brazilian president Dilma Rousseff is on an official visit to China.

Monday, April 11th 2011 - 21:09 UTC

Brazil aware its relation with China raises the risk of “Dutch Disease”

President Rousseff arrived Monday in Beijing for a week long state visit

President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.

Monday, April 11th 2011 - 19:49 UTC

China plans to invest 10 billion USD in soy production and processing in Brazil

Beijing wants to ensure its supply of soy beans

China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.

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