Brazil

Brazil
Thursday, October 29th 2009 - 07:11 UTC

Brazil confirms the gradual elimination of US dollar in trade operations

The option experienced with BRIC and Mercosur members is the SML, or payment in local currencies.

Brazilian Central Bank president Henrique Meirelles said the country is considering the gradual elimination of the US dollar in trade with China, Russia and India, which together with Brazil make up the BRIC group.

Wednesday, October 28th 2009 - 07:18 UTC

Porous Brazilian borders feed Olympic Rio gangs with heavy weapons

Earlier in the month a Special Forces helicopter was downed by the gangs

The Brazilian Federal Police identified 17 places through which illegal weapons are introduced into the country, including most of those used by organized crime such as heavy machine guns capable of downing a helicopter as recently happened in one of the favelas, the shanty towns that speck Olympic city of Rio do Janeiro.

Wednesday, October 28th 2009 - 06:07 UTC

Trade disputes cast doubts on the “Argentine-Brazilian” strategic alliance

Trucks delayed in border crossings because of reciprocal trade obstacles

Trade obstacles imposed by Brazil against Argentine exporters in reprisal for similar measures by the Argentine government of President Cristina Fernandez de Kirchner escalated Tuesday when the Brazilian ambassador was summoned to the Argentine Foreign Affairs ministry.

Wednesday, October 28th 2009 - 02:19 UTC

Brazil remains divided on Venezuela’s Mercosur incorporation

Senate president Jose Sarney has led the movement against Chavez’ Venezuela

The president of the Brazilian Senate Jose Sarney reiterated Tuesday he does not support the incorporation of Venezuela to the South American trade block Mercosur, since “decisions from the government of that country represent a crumbling and deviation of democracy”.

Tuesday, October 27th 2009 - 12:23 UTC

Brazil planning to cut taxes to stimulate domestic consumption

Minister Guido Mantega made the announcement

Brazil is considering extending stimulus tax cuts on home appliances even as the country’s economic recovery shows signs of gaining momentum. Tax cuts helped Brazilian auto industry sales to soar.

Tuesday, October 27th 2009 - 09:18 UTC

Brazil Marfrig food company turns a profit in the third quarter

The company is one of the world’s largest beef producers

Brazilian food company Marfrig Alimentos, with strong interests in Uruguay and Argentina turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.

Monday, October 26th 2009 - 12:51 UTC

Brazil to increase diesel bio-fuel content to 5% next January

Lula da Silva cautioned production should not impact food supplies

Brazil will raise the bio-fuel content of its diesel to 5% up from 4% previously, after President Lula da Silva approved the proposal on Friday.

Saturday, October 24th 2009 - 07:33 UTC

Argentina, Paraguay pledge to save what is left of the Atlantic Forest

The Iguazu Falls are part of the Atlantic forest

Argentina and Paraguay have made a historic pledge to save one of the world’s most threatened forests. During a special ceremony at the XIIIth World Forestry Congress, the two governments agreed to work towards zero net deforestation in the Atlantic Forest, and to implement a package of measures that include national legislation to enforce those commitments.

Saturday, October 24th 2009 - 07:19 UTC

Paraguayan congress approves Itaipú treaty with Brazil

The world’s largest operational dam Itaipu in the Parana river basin

The Paraguayan Senate approved by an ample majority the agreement with Brazil which represents a higher financial compensation for Paraguay from Itaipú, the world’s largest operational hydroelectric dam, a long standing claim which was addressed in several summits between presidents Lula da Silva and Fernando Lugo.

Saturday, October 24th 2009 - 05:54 UTC

Petrobras sells 4 billion US dollars in 2020 and 2040 bonds

CEO Gabrielli estimates oil reserves could double in the near future

Brazilian oil giant Petrobras on Friday launched 2.5 billion US dollars of 2020 bonds and 1.5 billion USD of 2040 bonds, in what might be the largest ever sale of corporate debt by a Brazilian company.

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