Friday, October 22nd 2010 - 02:51 UTC

Brazil predicted to displace Italy as seventh world economy in 2011

The Brazilian economy helped by commodity prices

The Economist Intelligence Unit is predicting that in 2011 Brazil would move ahead of Italy into seventh place in the ranking of the largest world economies with a GDP of 2 trillion US dollars.

Friday, October 22nd 2010 - 02:34 UTC

Brazil keeps benchmark interest rate at 10.75% in spite of inflation peak

Mid-month inflation doubled that of September

Brazil’s central bank kept its benchmark overnight rate unchanged Wednesday as policy makers gauge whether a peak in inflation is temporary. The policy committee, led by bank President Henrique Meirelles in a unanimous decision, left the rate at 10.75% for a second straight meeting.

Thursday, October 21st 2010 - 07:30 UTC

Lula da Silva promises to defend currency from further appreciation

G20 must address “currencies war” says the Brazilian leader

Brazil’s Lula da Silva said that the G-20 group must address the issue of the “currencies war” in direct reference to the forced depreciation by some rich countries of their currencies which negatively affects the competitiveness of its trade partners, particularly in the developing world.

Wednesday, October 20th 2010 - 03:33 UTC

Dilma Rousseff seems back on track and leads with 51% vote intention

The ruling Workers party candidate has had a rough time with corruption claims and views on abortion

The Brazilian ruling party candidate Dilma Rousseff has widened her lead ahead of a presidential runoff vote on October 31, a poll showed, suggesting her campaign may be back on pace after a rough two weeks in which she appeared to be back-pedalling

Wednesday, October 20th 2010 - 03:02 UTC

Fiat plans to invest 6 billion USD by 2015 in Brazil to boost production

Most of the funds are to be invested in car production, currently operating at its limit

Italy's Fiat will invest 10 billion Reais (USD 6 billion) in Brazil by 2015 in operations that include production of cars, auto parts and agricultural machinery.

Tuesday, October 19th 2010 - 03:56 UTC

Fears strong growth in Brazil will fuel inflation in months ahead

The data follows the weekly Central bank survey among economists

Economists in a weekly central bank survey raised for a fifth straight week their forecasts for Brazil's benchmark inflation index in 2010 and 2011, underscoring concerns that growth in the economy will raise consumer prices in the months ahead, the bank said.

Tuesday, October 19th 2010 - 03:50 UTC

Brazil’s Vale “very well positioned” to continue as world’s largest mining group

Chief Executive Officer Roger Agnelli addressing investors in New York

Brazil’s Vale Rio Doce, the world’s biggest iron- ore miner, said it is not planning any more acquisitions because it has enough assets to double its capacity.

Tuesday, October 19th 2010 - 03:28 UTC

Brazil again ups tax on incoming capital; calls for end to the “currency war”

The so-called IOF tax on inflows will climb to 6% from 4%

Brazil increased taxes on foreign investments in fixed-income securities for the second time in a month and Finance Minister Guido Mantega said countries trying to defend exports must end the “currency war.”

Monday, October 18th 2010 - 22:42 UTC

Brazil becomes magnet for Chilean investors; trade in 2010 soars 66%

Brazilian aircraft, locomotives and subways for Chile

This year Brazil has emerged as Chile's largest trading partner in South America and one of the most important destinations for Chile's investment. Overall, trade between Brazil and Chile has grown 66%, while Brazil replaced Colombia as second highest location for Chilean Investment.

Monday, October 18th 2010 - 21:18 UTC

Brazil’s king-maker prefers to remain ‘independent”: decision favours Dilma

Marina Silva’s 19% share of the ballot represents 20 million voters

Brazil’s Green Party decided Sunday to remain independent in the presidential runoff election on October 31.
The third-place finisher in the first round, Marina Silva said she would not support either Dilma Rousseff, a former cabinet chief, or the opposition candidate, José Serra, a former governor of São Paulo.


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