Brazil is not yet ready to host the 2014 World Cup, football great Pele told the ESPN Soccernet website in an interview posted on Friday. According to Pele, chaotic organization and communication difficulties are the biggest problems facing Brazil as it prepares for the World Cup.
Brazilian president Dilma Rousseff appointed a Communist Party congressman as the country's new Sports minister Thursday, replacing Orlando Silva, an official from the same party who resigned as he fights corruption allegations.
Brazil's government is encouraged by Europe's announcement of a plan to resolve the nagging debt crisis, though more details are needed on the proposal to determine its viability, Brazilian Finance Minister Guido Mantega said Thursday.
Volkswagen AG is negotiating with Brazilian authorities to build a 2 billion dollars factory in Brazil -- the latest foreign automaker looking to raise local output after a tax increase on imported cars
French auto giant PSA Peugeot Citroen plans to double production in Brazil by 2015, part of a global shift towards emerging economies hastened by the downturn in Europe and the United States.
Brazil’s central bank said slowing global growth will have a large enough disinflation impact and allow policy makers to carry out “moderate” cuts to interest rates.
Brazil's sports minister resigned on Wednesday over a corruption scandal, the country's GloboNews television station said, reviving concern over President Dilma Rousseff's unstable ruling coalition and the country's lagging preparations for the 2014 World Cup.
Fitch Ratings said it had decided to maintain Brazil's BBB investment grade credit rating and predicted the outlook for the Latin America’s largest economy would remain stable.
Brazil's total federal debt rose in September as the Treasury issued new debt at home and abroad, the government reported this week. The country's federal debt load increased 2.3% in the month to Reais 1.809 trillion (1.02 trillion dollars), from Reais 1.768 trillion in August, the Treasury said in a statement.
Brazilian officials skimmed at least a staggering equivalent of 37.7bn dollars from government coffers in just eight years of corruption cases from 2003-2010, the Rio do Janeiro daily O Globo reported, based on numbers from the country’s Public Accounts ombudsman.