Saturday, October 24th 2009 - 05:23 UTC

Brazilian central bank leaves monetary expansion policy unchanged

Banker Henrique Meirelles is expected to run for office in 2010

Brazil’s central bank kept its key Selic interest rate at a record low 8.75% and said its level was “consistent” with a non-inflationary recovery, signalling that no increase in borrowing costs is imminent.

Friday, October 23rd 2009 - 08:51 UTC

“Shell-shocked” Brazil demands an end to violence in “Olympic City” Rio

Opposition and the Supreme Court are demanding swift action to clean the favelas from drug related gangs

Brazil’s main opposition party demanded responsibility from President Lula da Silva in combating the wave of violence rocking Rio do Janeiro and which has left at least 35 killed in shootings with the drugs’ gangs that even downed a police helicopter.

Thursday, October 22nd 2009 - 08:22 UTC

Lula’s presidential candidate receives support from Brazil’s main party

Dilma Rousseff will be running in 2010 to succeed Lula da Silva with a huge advantage

Brazil’s main political force, Brazilian Democratic Movement, PMDB closed this week a deal with President Lula da Silva to support Minister Dilma Rousseff as the ruling coalition’s presidential candidate for next year’s election.

Wednesday, October 21st 2009 - 12:47 UTC

Brazil’s investment tax tumbles stock exchange and the Real

Bovespa ready to propose alternatives calm markets

Brazil's stock market suffered one of its worst one-day plunges in three months and the currency sank after the government imposed a tax on foreign investments in local stocks and bonds. The Bovespa index of the Sao Paulo stock exchange dropped 2.88% to 65,303.11, after closing at its strongest level since June 2008 the previous session.

Wednesday, October 21st 2009 - 10:31 UTC

Olympics’ Rio do Janeiro faces a seven year battle to clean the city

The marvellous city was again world headlines but not precisely for Olympic shooting competitions

The death toll of a weekend shootout in Rio do Janeiro shanty towns between police forces and drug dealers climbed to 25 with the discovery of several bodies, --one of them in a supermarket cart--, and the death of a third police officer from a downed helicopter.

Tuesday, October 20th 2009 - 08:03 UTC

Lula da Silva promises a million new formal jobs in 2009

In September Brazilian jobs lost because of the recession were recovered

President Lula da Silva said Brazil would end this year with a million new formal jobs and in 2010 the economy will expand 5%. Speaking at his program “Breakfast with the President”, Lula da Silva announced that 252.000 jobs had been created in September which means 2009 will end “with a million new formal jobs”.

Tuesday, October 20th 2009 - 07:54 UTC

Brazil to slap tax on foreign capital inflow “to avoid speculation”

Finance Minister Guido Mantega made the announcement Monday: the Real has gained 35% and the Bovespa index 80% since beginning of this year

Brazil will impose a 2% tax on purchases by foreign investors of Real-denominated, fixed-income securities and on purchases of stocks. The measures are being taken “to avoid an excess speculation in the stock market and in capital markets” said Finance minister Guido Mantega told reporters Monday in Sao Paulo.

Tuesday, October 20th 2009 - 07:51 UTC

Petrobras in new oil and gas output record prepares to drill sub-salt deposits

Production in September reached 2 million bpd

Brazil's government managed oil and gas company Petrobras said on Monday domestic oil output increased 1.2% in September, compared with August, to a record high as it completed platform maintenance and boosted output at some wells. The new record is 2 million bpd from 1.98 million bpd in August.

Friday, October 16th 2009 - 04:33 UTC

Overwhelming support for Brazil as member of the UN Security Council

This is the tenth time Brazil joins the Council, the first in 1946

Bosnia, Brazil, Gabon, Lebanon and Nigeria were elected Thursday to non-permanent seats on the United Nations Security Council. They will serve two-year terms starting January 1 and will participate in decisions ranging from deploying U.N. peacekeepers to imposing sanctions.

Thursday, October 15th 2009 - 12:10 UTC

Brazil’s JBS en route to become world’s largest meat company

The company has a strong hold in the US beef, pork and chicken markets

Brazil's JBS said on Wednesday the US Justice Department has approved the takeover of US-based Pilgrim's Pride paving the way for JBS to become the world's largest meat company.


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