Brazil

Brazil
Friday, June 25th 2010 - 05:22 UTC

Petrobras confirms high quality oil in latest off-shore discovery

Brazil’s government controlled oil and gas corporation Petrobras said its seventh well in the offshore Tupi field confirmed the potential of light oil in pre- salt reserves. The 3-BRSA-821-RJS well, known as Tupi Alto, is about 275 kilometers off the coast of Rio de Janeiro state, Petrobras confirmed Thursday in a regulatory filing.

Friday, June 25th 2010 - 05:17 UTC

Brazil and Argentina advance in solving bilateral trade issues

Guido Mantega and Amado Boudou

Brazil and Argentina made significant advances in outstanding bilateral trade issues following a joint meeting Thursday between top policy makers, Brazilian Finance Minister Guido Mantega told reporters.

Friday, June 25th 2010 - 05:14 UTC

Brazil praises Argentina’s ‘successful’ debt swap process

But inflation, lack of credibility in official statistics remain challenges for the Argentine economy

Brazil said on Thursday that the sovereign debt swap process led by the Argentine government and its economy administration was “successful”.

Thursday, June 24th 2010 - 06:03 UTC

Incumbent Dilma Rousseff takes the leads in Brazil presidential race

Lula da Silva overwhelming popularity is Rousseff’s rocket booster

Brazil’s incumbent candidate Dilma Rousseff took the lead in the country’s presidential race, according to a new poll. Rousseff, President Lula da Silva’s former cabinet chief, is supported by 40% of those surveyed, according to an Ibope poll for the National Industrial Confederation, or CNI, that was published Wednesday in Brasilia.

Thursday, June 24th 2010 - 05:48 UTC

Brazil forecasts a drop in direct foreign investment because of European crisis

Altamir Lopes head of the Central Bank Economic Department

While the Brazilian economy is moving ahead at “Chinese rates” the Central Bank reduced its estimate of direct foreign investment this year from 45 to 38 billion US dollars because of the European crisis.

Tuesday, June 22nd 2010 - 05:05 UTC

Brazil reacts cautiously to the Yuan “greater flexibility” policy

Central Bank governor Henrique Meirelles

Brazil's Central Bank welcomed China's move to boost flexibility of the Yuan exchange rate, saying the decision showed China's willingness to help the global economy.

Tuesday, June 22nd 2010 - 04:43 UTC

Petrobras plans to invest 224 billion USD and double production to 5.4 million bpd

Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.

Saturday, June 19th 2010 - 02:46 UTC

Brazil opens steel mill, largest private sector investment in 15 years

Full production capacity is expected to reach 5 million metric tons of slabs

Brazilian President Lula da Silva, mining giant Vale Doce CEO Roger Agnelli and ThyssenKrupp CEO Ekkehard Schulz inaugurated on Friday Brazil's newest steel mill, Cia Siderurgica do Atlantico (CSA).

Saturday, June 19th 2010 - 02:11 UTC

BRIC emerging economies will enjoy agriculture boom, says UN-OECD report

Brazil’s agriculture is forecasted to expand 40% in the next ten years

The emerging economies of Brazil, India, China and Russia (BRIC) will enjoy an agricultural boom over the next decade as production stalls in Western Europe, a report says.

Friday, June 18th 2010 - 00:40 UTC

Brazil and Peru sign agreements to strengthen cooperation and energy integration

Presidents Lula da Silva and Alan Garcia

Brazil and Peru signed several accords which strengthened regional integration with particular emphasis on energy. The event followed a meeting between Presidents Lula da Silva and Alan Garcia met in Manaus, state of Amazon.

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