The Brazilian Real dropped past 2 per dollars for a second day as President Dilma Rousseff said it has been “extremely overvalued,” encouraging speculation the currency of Latin America’s biggest economy may fall further.
Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.
Brazilian President Dilma Rousseff launched on Sunday, (Mother’s Day in South America) a raft of new social programs for low-income families with young children.
Brazilian police was out in full force to occupy for an indefinite period a group of favelas (shanty towns) surrounding the ‘marvellous’ city of Rio do Janeiro following the killing of the state’s most wanted drug lord.
The central bank remains independent and the current interest-rate cutting cycle is driven by specific economic factors, not pressure from President Dilma Rousseff, Brazil’s central bank President Alexandre Tombini said in an interview in the Sunday edition of O Estado de S. Paulo.
Fernando Henrique Cardoso, a Brazilian scholar turned president, has won the $1 million John W. Kluge Prize for Lifetime Achievement in the Human Sciences, the United States Library of Congress plans to announce Monday.
A top visiting German trade official appealed to Brazilian companies Thursday to invest in Europe's largest economy, particularly in the former East Germany taking advantage of the country’s know-how.
Asia leads the world’s growth in air travel and holds seven out of the ten busiest inter-city routes. In addition to the BRIC markets, Indonesia, the Philippines, and Chile showed an impressive growth, according to analysis by the market intelligence solution Amadeus Total Demand.
Brazilian meatpacker JBS SA has sold one of its two units based in San Jose, Argentina, the company said in statement Wednesday. The unit was sold for 16.5 million dollars to a group of local cooperatives and the provincial government, which will run the operation.
Foreign Minister Antonio Patriota praised the “great political convergence” between Argentina and Brazil and assured that any existing problems related to the bilateral trade “do not tarnish this very strong reality.”