Royal Dutch Shell Brazil discovered oil in the Campos Basin's pre-salt region, the company said Tuesday. In a statement, Shell Brazil said it had discovered oil in the 3-SHEL-22-ESS well at the Nautilus field, part of the Parque das Conchas development that went on-stream in July 2009.
Italian Prime Minister, Silvio Berlusconi, expressed his support for the idea that Brazilian President Lula da Silva should run for president once again in the Brazilian presidential elections of 2014.
Brazilian President Lula da Silva said on Tuesday he expects the four Mercosur countries Argentina, Brazil, Paraguay and Uruguay to meet in the semi-finals of the World Cup in South Africa.
Shares of Smithfield Foods Inc., the top U.S. pork producer, jumped as much as 8.3% Tuesday on speculation the company may be a takeover target for Brazil-based meat processor JBS S.A. A report in the Brazilian publication Valor Economico, citing market sources said JBS may seek discussions over an acquisition with Smithfield.
US corporation Caterpillar Inc. said Tuesday it will build a new manufacturing facility in Brazil to meet growing customer demand there and across Latin America.
Brazil's government will implement new reserve requirements on credit operations undertaken by the nation's banks, in compliance with the latest changes in the Basel Index, by 2012, the Central Bank of Brazil said in a statement Monday.
Brazil’s credit rating outlook was boosted to positive from stable by Fitch Ratings, which cited the country’s “growth dynamics” and “prudent” policies. Fitch rates Brazil BBB-, the lowest investment-grade rating and in line with rankings from Standard & Poor’s and Moody’s Investors Service.
Brazil is willing to help Argentina and Uruguay with the joint monitoring of the River Uruguay which is at the heart of a pulp mill standing dispute between both countries. Argentina and Uruguay Foreign Affairs ministers are scheduled to meet Tuesday in Montevideo to address the issue.
Italian Prime Minister Silvio Berlusconi is scheduled to arrive Monday with a delegation of sixty businesspeople in Brazil where he will consider with President Lula da Silva investment projects involving at least 10 billion US dollars.
Brazilian President Lula da Silva has cancelled plans to attend the G-20 economic summit in Toronto, Canada after flooding in the northeast of the country left at least 51 people dead and 120,000 others homeless.