Brazilian economists forecast that Latinamerica’s biggest economy will fall into the worst recession since 1992 as companies scale back output amid the first global recession since World War II.
If forecasts are confirmed the 70 million tons of the 2008/09 Argentine harvest would represent 2.9% of the world’s grain production when in previous crops it had reached 4.2%. Brazil in the meantime will have reached 5.5% of world production. Only a few years ago the difference was minimal with Brazil almost 4% and Argentina above 3%.
The mosquito transmitted dengue disease which has ravaged Bolivia, Paraguay, North Argentina (and now threatens Buenos Aires) has also severely punished the Brazilian north-eastern state of Bahía where in the first quarter of this year, 40.000 cases have been confirmed and 32 deaths.
A report by a Brazilian official organization published on Saturday in the daily O Globo criticized the lack of security at Brazil’s nuclear installations, which range from electricity-generating plants to hospital equipment.
Brazil named Aldemir Bendine as chief executive of federally owned Banco do Brasil Aldemir Bendine seeking to boost lending in the country's financial system and lower borrowing costs. Bendine, a Banco do Brasil veteran who was previously in charge of its credit card and new retail business, succeeds Antonio Francisco de Lima Neto as CEO.
Brazilian meatpacker Arantes Alimentos Ltda has initiated a renegotiation of debts with its creditors, company controler Aderbal Arantes Junior said in an interview Thursday with local newspaper O Estado de S. Paulo.
More than 500 political, social and economic leaders from 37 countries will meet next week in Rio for the World Economic Forum on Latin America, the organizers announced on Wednesday.
The Brazilian government is planning to offer a financing package worth one billion US dollars for industrial projects in Paraguay, local financial newspaper Valor Economico reported this week. According to the newspaper, which cited unnamed sources, the financing will be offered through Brazil's National Development Bank, or BNDES.
The consortium formed by Brazil’s government managed oil and corporation Petrobras (63%, operator) and Spain’s Repsol (37%) has delivered a Declaration of Commercial Viability for a light oil and gas discovery made in reservoirs located above the salt layer, in block BM-S-7, in the Santos Basin.
Over half a million Brazilians have fallen back to poverty from their lower middle class status according to the latest paper from the Social Politics Department belonging to the Getulio Vargas Foundation research centre in Rio do Janeiro, FGV.