Repsol-YPF, Spain’s largest oil company, said second-quarter earnings fell 7.3% after refining margins narrowed and output declined because of the civil war in Libya and strikes in Argentina.
The three-year build-up to the 2014 soccer World Cup is set to boost Brazil’s economy by 1.5% of GDP, according to Ilan Goldfajn, chief economist of the Itau Unibanco Holding, Latin America’s largest bank by market value.
Brazilian newspaper Estado de Sao Paulo revealed documents from Chinese company Sun Falcon International Inc. offering triangulation scheme through Los Angeles port, the busiest container port in the US, to avoid Brazilian anti-dumping tariffs.
Brazilian officials brushed aside claims from exporters that the country has been ‘soft’ on Argentina and on imports from Asia, mainly China, arguing that trade figures indicate something different and “you can’t have it both ways, liberal and protectionist”.
Rio de Janeiro's famous Maracaná stadium will host the final of the 2014 World Cup in Brazil, FIFA secretary general Jerome Valcke indicated Thursday, pending formal ratification of the decision at FIFA executive committee meeting in October.
Brazil imposed on Wednesday a tax on bets against the US dollar and warned it may boost intervention in the nation’s derivatives market in a bid to weaken a currency that reached a 12-year high this week. The Real declined by the most in almost three months at times loosing up to 2% to the US dollar.
Lending by Brazil’s BNDES (National economic and social development bank) totalled 43.5 billion Real (29bn dollars approx) in the first five months of the year, representing a contraction of 6% compared to the same period in 2010, according to a bank’ release.
Brazilian former president Lula da Silva criticized rich countries for their roll on the current economic crisis that has been changing the world’s economic map and once again came out forcibly in support of President Dima Rousseff.
With the currency ever so strong against the US dollar Brazilians are travelling overseas and spending as never before, according to the latest figures from the Central Bank.
Brazil is planning to set up its second scientific station in Antarctica and its first fully automatic data collecting module close to the Southern pole, revealed Jefferson Simoes coordinator of the country’s National Science and Technology Institute.