The Brazilian economy may face a potential crisis as its fragile foundation could barely withstand the impact of a new global financial turmoil, a local economist warned.
Brazilian President Dilma Rousseff on Thursday brushed aside concerns over delays in preparations for the 2014 World Cup, insisting that all stadiums would be ready in time for the tournament.
Brazilian president Dilma Rousseff ordered a “cleanup and fumigation” in the Agriculture ministry following claims of lobbyism and suspended all tenders at the Ministry of Transport where the minister and his top staff resigned because of corruption charges.
Brazilian oil and gas start-up HRT boosted its net potential oil resources 12% to 7.9 billion barrels of oil equivalent (boe) following a certification study of its assets in Namibia.
For the second time in a week Brazilian president Dilma Rousseff said the country was prepared for the global financial turbulence, but said a strengthened domestic market was crucial to overcome the tough times ahead.
Brazil’s federal Police arrested on Tuesday Deputy Tourism Minister in a corruption sweep tied to funding for major sports events, the latest in a series of scandals to tarnish President Dilma Rousseff’s government.
Brazil’s new Defence minister Celso Amorim said he plans closer links with Unasur (Union of South American Nations) and Africa to ensure the South Atlantic turns into a peace zone free of weapons of mass destruction.
Danish wind turbine maker Vestas is to establish its first assembly plant in Brazil and expects it to be operational in the fourth quarter.
Brazil’s Finance Minister Guido Mantega admitted Monday that if the international crisis in the EU and US markets persists, Brazil would have to lower its growth estimate.
Visiting Canadian Primer Minister Stephen Harper and Brazilian President Dilma Rousseff signed on Monday several agreements on air travel, pension benefits, international aid and other areas at the Planalto Executive palace in Brasilia.