Foxconn in planning to invest as much as 12bn US dollars in Brazil, according to President Dilma Rousseff currently on an official visit to China. Taiwan-based Foxconn operates the majority of its factories in China, producing goods for firms like Apple, Hewlett Packard and Dell.
Beginning June, Mercosur full members will share macro-economic indicators elaborated with the same criteria and which will be released simultaneously, according to reports in the Montevideo press. The initiative was partly financed by the European Union that also played an advisory role.
China and Brazil on Tuesday clinched a host of government agreements and economic deals in Beijing to enhance their strategic partnership as Brazilian President Dilma Rousseff paid her first state visit to China.
China opened its market to Brazilian pork and Brazil’s meat packer Marfrig said it would invest heavily in distribution centres in China. The announcements were made in Beijing where a numerous government and private sector delegation headed by Brazilian president Dilma Rousseff is on an official visit to China.
President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.
China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.
Brazil’s currency climbed again on Friday trading at its best levels in more than two years, as investors brushed aside another Brazilian government measure to limit credit consumption in an attempt to tame inflation.
Royal Dutch Shell Plc, the world’s biggest distributor of bio-fuels, is shifting research to waste from sugar-cane farming after ending an algae project in Hawaii. Shell, Iogen Corp. and Codexis have been researching enzymes to produce cellulose ethanol from wheat stalks and sugar-cane bagasse, a sugar industry waste product.
Brazilian inflation accelerated more than economists expected in March from a year earlier, led by food and transportation costs, taking the annual rate near the upper limit of the government’s target range. On Thursday the Brazilian currency Real also further strengthened to a record 1.58 to the US dollar in spite of the latest measures.
Brazil doubled a tax on consumer credit as the administration of President Dilma Rousseff’s shifts its focus to fighting inflation. Beginning Friday consumer loans, excluding mortgages, will be subject to a 3% annual tax, up from a previous rate of 1.5%, according to a Finance Ministry statement.