Brazil

Brazil
Wednesday, June 30th 2010 - 06:18 UTC

Shell confirms oil discovery in pre-salt drilling at Campos Basin

Campos Basin produces more than 85% of Brazil’s crude

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.

Wednesday, June 30th 2010 - 06:03 UTC

Berlusconi says Lula da Silva should run again for president in 2014

Lula da Silva and Berlusconi in Sao Paulo

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.

Wednesday, June 30th 2010 - 05:31 UTC

Lula da Silva anticipates World Cup semi-finals with four Mercosur members

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.

Wednesday, June 30th 2010 - 05:21 UTC

Brazil largest meat processor JBS targeting US top pork producer

US Smithfield is weakened by a deep slum in the pork industry because of soaring feed costs and the H1N1 (‘swine’) flu

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.

Wednesday, June 30th 2010 - 05:14 UTC

Caterpillar expanding plant in Brazil to meet growing Latam demand

Luiz Carlos Calil, Caterpillar Brazil president

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.

Tuesday, June 29th 2010 - 05:30 UTC

Brazil to implement new banking reserve requirements bases on Basel Index

The latest changes in the Index were agreed at the G-20

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.

Tuesday, June 29th 2010 - 05:25 UTC

Fitch lifts Brazil’s credit rating to investment-grade; further ‘improvement’ needed

The economy is growing at the fastest rate since 1994

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.

Monday, June 28th 2010 - 22:56 UTC

Brazil willing to support Argentina and Uruguay in joint river monitoring

Brazilian ambassador in Montevideo, Jose Felicio

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.

Monday, June 28th 2010 - 00:52 UTC

Berlusconi and Italian business delegation arrive in Brazil

The Italian PM wants his country to have a share of the huge sub-salt deposits offshore Brazil

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.

Saturday, June 26th 2010 - 04:42 UTC

Lula da Silva skips G20 because of floods and presidential election

Over 120.000 Brazilians have been left homeless

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.

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