Tuesday, May 17th 2011 - 15:42 UTC

Brazil insists with an emerging economy Managing Director for the IMF

Former Brazilian Foreign minister Celso Amorim

Brazil’s former Foreign Affairs minister Celso Amorim said that the next IMF Managing Director must come from an emerging economy if Dominique Strauss-Kahn, currently in custody in New York on alleged rape charges finally looses his job.

Tuesday, May 17th 2011 - 15:35 UTC

Brazilian banks and funds create company to build deep-water rigs for Petrobras

Sete Brazil is to build seven rigs thus alleviating Petrobras financial burden

A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.

Tuesday, May 17th 2011 - 15:31 UTC

Brazil’s Vale wants to become world leader in nickel production

The Onca Puma operation will have an annual production of 220.000 tons of ferronickel

Brazil’s Vale, the world’s leading exporter of iron ore is moving strongly into other minerals with the opening of its first nickel operation in Onca Puma to the southeast of Pará state which is considered one of the largest ferronickel production plants in the world.

Tuesday, May 17th 2011 - 05:58 UTC

Argentina/Brazil agree to attempt dialogue to overcome latest trade dispute

With an overvalued Real, Brazil has been flooded by car imports

Argentine Minister for Industry, Debora Giorgi will meet in coming hours with Brazilian Ambassador, Enio Cordeiro, to schedule a series of meetings to address trade disputes between the two neighbouring countries and main Mercosur associates.

Tuesday, May 17th 2011 - 05:51 UTC

China ready to increase trade and investments in Brazil but infrastructure lacking

Commerce minister Chen Deming meets counterpart Pimentel

China moved to smooth economic relations with Brazil on Monday, saying it was open to more Brazilian exports and that Chinese firms will broaden their investments in the country.

Tuesday, May 17th 2011 - 00:53 UTC

South Korea and Brazilian lawmakers committed to expand links with Mercosur

Park Hee-tae meets Marco Aurelio Maia

Parliamentary leaders of South Korea and Brazil agreed Monday in Seoul to put forth efforts to promote economic ties between the two nations in the framework of Mercosur, through closer interactions at the parliamentary level.

Monday, May 16th 2011 - 15:51 UTC

Brazil justifies import licences for the auto sector, and insists they are not targeted on Argentina

Industry and Foreign trade minister Pimentel says Brazil is an open economy

Brazilian Development, Industry and Foreign Trade minister Fernando Pimentel justified trade barriers imposed last week on the import of cars, a measure which was strongly criticized by the Argentine government.

Monday, May 16th 2011 - 03:14 UTC

Brazil, India current account deficits leads to ‘inevitable’ crisis warns China

Li Daokui believes China can overcome the situation

China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years a central bank adviser was quoted as saying on Saturday.

Saturday, May 14th 2011 - 04:50 UTC

Argentina/Brazil agree on a ‘constructive dialogue’ to overcome trade disputes

Fenando Pimentel and Debora Giorgi could be meeting in Foz de Iguazú

Following a long day of open letters and press exchanges Argentina and Brazil finally agreed on the ground rules for the initiation of a ‘constructive dialogue’ to soften the trade dispute which erupted when Brazil imposed non automatic licences on imported cars, including from Mercosur’ main partner Argentina.

Friday, May 13th 2011 - 14:47 UTC

Capital inflow to Brazil during April falls dramatically

Tougher measures from the Central bank and Finance ministry seem to have effect

Brazil’s tax increase on foreign loans and debt sales to shield itself from the global currency war helped reduce by 88% the number of dollars that entered the country in April.


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