Brazil

Brazil
Wednesday, May 27th 2009 - 06:23 UTC

Brazilian Central Bank not surprised by steady gain of the Real

Meirelles: “Brazil's government took timely measures to combat the crisis.”

Brazilian Central Bank President Henrique Meirelles said Tuesday that there are signs that the economy is recovering although he offered no specifics. Brazil’s economy expanded 5.1% in 2008 but government forecasts have been downgraded to 1% for 2009, and private estimates are even more pessimistic

Tuesday, May 26th 2009 - 12:18 UTC

Third consecutive period for Lula da Silva reaches political arena

Illness of Ms Rousseff has revived Lula da Silva’s succession debate

A third presidential period for Lula da Silva is “a risk” which would distance the country “from the republic and would draw it nearer to a monarchy” said the president of the Brazilian Supreme Electoral Tribunal, TSE, Ayres Brito.

Tuesday, May 26th 2009 - 11:40 UTC

Brazilian industry to openly debate Itaipu power plant controversy

The world’s largest operational hydroelectric dam and how the energy produced should be distributed and traded will be at the heart of a debate Wednesday between Brazil’s main industrial organization, FIESP, and Paraguayan authorities, the two countries who share the giant power station.

Saturday, May 23rd 2009 - 15:32 UTC

Brazil concerned with the appreciation of its currency against the US dollar

The current appreciation of the Brazilian currency, Real, is a “cause for concern,” but also reflect international investors' growing interest in the nation's assets, Finance Minister Guido Mantega said on Friday.

Saturday, May 23rd 2009 - 15:29 UTC

Cash short Venezuela negotiating loans from Brazil

Venezuelan President Hugo Chavez, whose administration is facing cash shortages as oil revenues plunge, is negotiating loans from Brazil's development bank to fund infrastructure projects, revealed the Brazilian newspaper Folha de Sao Paulo.

Friday, May 22nd 2009 - 12:14 UTC

Brazilian government downgrades to 1% growth estimate for 2009

The Brazilian government has again downgraded the economy’s growth forecast for this year which will now be 1%, according to the bi-monthly Budget reassessment from the Planning Ministry.

Friday, May 22nd 2009 - 08:11 UTC

China interest in extending more loans to Petrobras but in Renmimbi

China Development Bank may offer more financing to Brazil’s government managed oil and gas corporation Petrobras adding to the 10 billion US dollars extended this week, said Petrobras CEO Jose Sergio Gabrielli on Thursday in New York.

Thursday, May 21st 2009 - 10:31 UTC

Lula da Silva rejects third term but hand-picked candidate is seriously ill

Chief of Staff Dilma Rousseff handpicked to succeed Lula da Silva

Brazilian President Lula da Silva has ruled out the possibility of standing for a third term in office adding he was certain the likely candidate for the ruling Workers Party is chief of staff Dilma Rousseff.

Wednesday, May 20th 2009 - 14:39 UTC

Business climate in Latinamerica undergoes slight improvement

The business climate in Latinamerica experienced a slight improvement in the last three months having jumped from 2.9 points in January to 3.6 in April, although it is still one of the worst levels in seven years, reported the Brazilian Foundation Getulio Vargas

Wednesday, May 20th 2009 - 03:18 UTC

Brazil/China consolidate energy, trade and finance partnership

Petrobras CEO Jose Sergio Gabrielli

Brazil and China signed Tuesday in Beijing thirteen accords to promote trade, investments and cooperation plus a 10 billion US dollars loan for Petrobras. It was also agreed that bilateral trade in the near future is to be done using the Real and the Yuan.

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