Brazil

Brazil
Wednesday, February 9th 2011 - 20:55 UTC

Brazilian January inflation highest since April 2005

Food and fuel prices threaten President Rousseff’s stabilization program

Brazilian officials say inflation in January was the highest monthly jump in almost six years. The government's IBGE statistics bureau said that January inflation was 0.83%, the biggest monthly jump since April 2005, when inflation was 0.87%.

Wednesday, February 9th 2011 - 20:42 UTC

Brazil to trim budget and fight inflation by eliminating all 2009 stimuli

 Planning Minister Miriam Belchior: “doing more with less resources”

Brazil announces 50 billion Real (30 billion US dollars) cuts from this year’s budget as President Dilma Rousseff seeks to help the central bank contain inflation and lower some the world’s highest real interest rates.

Tuesday, February 8th 2011 - 17:49 UTC

Rate hikes expected in Brazil and Chile as global commodity prices drive inflation

Brazil is expected to increase interest rate by 50 bps in March

Global commodity prices continue to be the main driver of inflation in both Brazil and Chile, according to the latest Latin America update report from Capital Economics.

Tuesday, February 8th 2011 - 01:18 UTC

Brazil reaffirms links with Venezuela; calls for quick Mercosur integration

Antonio Patriota and Nicolas Maduro before the press conference

Brazil expects Venezuela’s full incorporation to Mercosur to be approved “soon” said Foreign Affairs minister Antonio Patriota during a meeting on Monday in Caracas with his peer Nicolas Maduro in Caracas to reaffirm strong bilateral links.

Monday, February 7th 2011 - 20:54 UTC

Geithner implicitly endorses “capital controls” during Brazilian visit

US Treasury Secretary Geithner is receive by President Dilma Rousseff.

US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.

Monday, February 7th 2011 - 18:07 UTC

US condemns South American/Arab leaders summits, say Wikileaks cables

US Ambassador Clifford Sobel was highly critical of Brazil’s Middle East policy

Brazilian policy towards Middle East and the Arab world harm US strategy in the region according to US embassy diplomatic cables between 2004 and 2009, recently exposed by Wikleaks.

Monday, February 7th 2011 - 14:09 UTC

“The show must go on” promise Rio Carnival groups in spite of blaze

Large plumes of smoke above the warehouses of Samba City

A fire has broken out in the carnival district, Samba city, of the Brazilian city of Rio de Janeiro, destroying warehouses where floats are made, reports say. At least four warehouses, a samba school and a carnival museum have been damaged in the blaze at Samba City.

Monday, February 7th 2011 - 14:06 UTC

Rio do Janeiro police take hold of favelas in early operation with no shots fired

A massive display of force is believed to have intimidated criminals

Rio do Janeiro police with the support of the Navy, other security agencies and armoured personnel vehicles in an flash operation on Sunday occupied nine “favelas,” or shantytowns dominated by drug gangs and did so “without a single shot,” officials said.

Sunday, February 6th 2011 - 21:29 UTC

Brazil and UK ready to sign huge defence contract, say media reports

The state of the art Royal Navy Type 26 frigate

Brazil with a defence market described as “one of the fastest growing in the world” will be signing a defence agreement with the UK which should open the way for a deal worth “billions of dollars”, according to reports in the Brazilian and UK media.

Sunday, February 6th 2011 - 21:02 UTC

Geithner visits Brazil to discuss economic and financial cooperation

US Treasury Secretary Tim Geithner

United States Treasury Secretary Tim Geithner will visit Monday Brazil to discuss economic cooperation. Geithner is scheduled to return on the same day.

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